Two words -- Barnett Shale

From the git-go, Texas Motor Speedway President Eddie Gossage has implied that someone close to the city leaked the news about negotiations over natural gas drilling rights beneath the speedway. The day the story broke in the Star-Telegram, Gossage fired off an e-mail to Mayor Mike Moncrief and Councilman Sal Espino.

"Someone at City Hall owes us an apology," Gossage wrote.

He maintained that stance even after Star-Telegram columnist Mitchell Schnurman wrote that the original leak came from Bruton Smith, whose company owns Texas Motor Speedway and other tracks around the country.

In an interview about other disputes between the city and the speedway, Gossage disputed that version of the story and told a reporter, "You better have it on tape."

No one had a tape recorder, but Gossage now agrees that it was probably Smith who leaked the news.

Smith was talking to David Poole, a sportswriter at the Charlotte, N.C. Observer, about the possibility of buying another track.

When Poole asked how he would pay for the new track, Smith replied, "Two words -- Barnett Shale."

The sportswriter did some research and contacted Star-Telegram business reporter Jim Fuquay, who chased down the dispute about the drilling rights.

Gossage said last week he told Smith about the gas negotiations on Oct. 24, 10 days before the last NASCAR race in Fort Worth. Smith's conversation with Poole happened around Oct. 29.

"David's story backs up my story," Gossage said. 

The reason the negotiations are important is because both the city and the speedway believe they have a claim to the gas, which is worth $15 million and upwards.

The disclosure of the negotiation led to recriminations among the city-appointed board that oversees the speedway. One member, Jim Schell, was removed from the board after another member complained that he had spoken to the media.

-- Mike Lee

Comments

[BH]

How is it possible in the state of Texas to lease mineral rights
and collect Royalties on Land you don't own?

All surface only owners would like this question answered.
All mineral owner's only would like this question answered.
All people who are leasing Land or Leasing a House with an option
to buy would like this question answered.

Are Smith and Gossage and Fort Worth's city council exempt from
the Texas Laws on Property ownership and Mineral Ownership?
This dispute needs an oil/gas attorney from out of State, who is
in nobody's pocket to settle this dispute legally according to
Texas Laws. Montcrief, Gossage and Smith need to step aside and
let a Judge decide this case.