It will be a happy signing ceremony in Southeast Arlington this coming week.
The bidding process used by the Southeast Arlington Property Owners (SEAPO) group has gleaned a record signing bonus of $22,000 with a 25 percent royalty. The term of the mineral rights lease is three years with a two year option. In order to get the two-year option, the drilling company would have to pay the full bonus amount again, said Jim Colley, one of the primary organizers of the neighbhorhood group. Click here to visit SEAPO's web site.
In less than four weeks, the group organized, gathered a list of residents, organzied a 10-member negotiating committee and solicited bids from drilling and mineral rights leasing companies. The group also held informational meetings at a local church that also included Spanish and Vietnamese language translators. The neighbhorhood represents more than 7,600 residential parcels spread across 1,895 acres. It is bounded by Interstate 20, Matlock Road, Texas Highway 360 and Arkansas lane.
"We pretty much delivered the entire neighborhood so we negotiated from a position of strength," Colley said.
Jerri Robbins, manager of public relations in the Barnett Shale field for Chesapeake Enrgy, wouldn't elaborate on the record-setting deal.
"There was a bid process and Paloma won," Robbins said.
Lease signings for the Southeast Arlington neighborhood will begin next week at the Mayfield Road Baptist Church and the following week at the Vietnamese Martyr's Catholic Church at the intersection of Mayfield Road and Collins Street.
-- Bill Bowen
(Photos: Bowie High School football, girls basketball, graduation)