Marine Creek property owners get lease offers

A property owner in Marine Creek Estates, northwest of Loop 820 and east of Boat Club Road, reports a lease offer from Carla Petroleum, which is working the area for XTO Energy.

Offered lease terms: $5,000-per-acre signing bonus, three-year term, two-year option, 25 percent royalty. The offer expires in 45 days.

-- Scott Nishimura

Comments

[Mari Y]

I would like to know the web link for the Marine Creek Estates, Marine Creek Meadows, Marine Creek Ranch?

[Mari Y]

What/Where is the website to the Marine Creek Estate HOA?

[Lak Lee]

please help...!!
I got a letter from "THE CAFFEY GROUP, LLC" and said that they would like to Oil and Gas lease in my property.
I do not know anything about the oil and gas lease matters. I have a home with samll front and back yard and it is in the risident area. It is a samll single family house.
First, how they know if any gas and oil are in my property,
Second, how they are going to set up the big drill michines into my small property. it is resident area.
Please, anybody help me and give me some idea and knowledge for this matters?.
Thanks

[David Gullahorn]

Just be careful in what you do and don't just trust these guys. We signed a lease 3 years ago when they started drilling in Marine creek hills and have not heard one thing from anyone. No return calls or nothing just please be careful and dont get your expectations up.

[Mike Simpson]

For info on Marine Creek Estates HOA you can visit their website at http://www.marinecreekftw.com

[Jayne Landers]

Could someone tell me the name of the President of the Marine Creek Estates HOA...and how to reach that person? Or who manages the Marine Creek Estates HOA? Thanks.

[Aaron Finder]

I understand your frustration. The gas committee was led to believe that the drafts were a better option and would actually fund fairly quickly rather than the 30-45 days, but that has not proved to be the case. We are not happy about a lot that Davis has done. There have also been widespread inaccuracies in the acreage calculations and folks have had to bring in their land surveys to get it corrected. This situation has since been addressed and we don't expect that to continue. The drafts also became a necessity because some were trying to be greedy and sign with both companies.

[Mike Simpson]

Disappointed in the way the funding came about in the Davis Land Service deal. Our understanding from the beginning was that there would be checks at signing. We didn't find out until we got to signing that we were receiving a 45 day bank draft (meaning 45 days until receiving the bonus payment). At least from the people we talked to that went with XTO they were given checks as promised. Davis and Chesapeak could make good on this deal if they would speed up the funding process for the drafts instead of earning interest on all of the bonus payments for 45 days. Very disappointed that I've been lied to in this deal.

[Aaron Finder]

Mr. Spivey, to answer your question, the majority in that area will be signing the Chesapeake lease and it would be the better option because they are the one's drilling and you will get royalties from that. If you sign with XTO, there is no guarantee you will see any royalties unless CHK buys out your lease from XTO...which is unlikely. My email address is on previous posts if you have further questions I would be happy to help answer them.

[John Spivey]

I own a home in Marine Creek Meadows and received both offers in the mail. I am active military and rent my home out, so I can't attend the local meetings. I have left several messages with MCMHOA and have received not a single call back. The phone numbers on the web site were removed.

I really have no idea which is better, except the bottom line pay out and MCMHOA has been a terrible HOA since we built in early 2001.

[Aaron Finder]

Marine Creek Estates is separated into two areas. the first area is bordered by Shadydell, Barnhill, Penwell and Huffines. The second area is bordered by Penwell, Bedfordshire and Ten Mile Bridge. The first area is going with Chesapeake and the second area didn't get offers from Chesapeake yet. They will likely go with XTO. Email me if you have any further questions. ajfinder@gmail.com

[Rob]

I took mine to Carla Pet. and they will notarize it for you. You can also pick up the check in person instead of having it mailed out.

[Melissa & Juan]

Up until two weeks ago when Carla Pet.(XTO) sent us a letter in the mail, we knew nothing about what was going on. To this date, we have heard nothing nor received any information from Cheasapeake concerning a lease for oil & mineral drilling. If Chesapeake is wanting us to sign with them, why havent we recieved any info? We've been in touch with XTO and were told that we needed to notarize the lease offer, and that checks would be mailed out within 2-3 business days once everything checked out. Not sure I feel comfortable with that. Has anyone else been told the same thing from XTO? Also, has anyone else heard anything from Marine Creek Community's HOA?

[Anthony Tram]

Can someone from marine creek e-mail me a copy of their best offer they received? There are too many contracts flying around...

anthony.tram@gmail.com

[Aaron Finder]

Diana, all of the Greenfield Acres residents are only receiving the offer that the Marine Creek Gas Committee negotiated. You did receive the correct letter from Davis Land Services. In a few weeks they will also be sending you a packet in the mail containing the actual contract you will be signing. They need to complete the title research first. Please send me an email to ajfinder@gmail.com so I can send you more information. Mark Picklesimer is handling the group in Greenfield Acres. I will give you his email address.

[Aaron Finder]

Virginia, based on information I received from Davis Land Services representing Chesapeake, I would say that XTO will not be getting the majority of the Marine Creek area so they will not be able to drill. Anyone signing the XTO deal would risk not getting bought back by Chesapeake. Therefore you would receive no royalties. It is the position of the gas committee that we should stay the course with Chesapeake. I will give a lot more detail if you email me at ajfinder@gmail.com

[Brian]

I received same contract offer from Carla Petroleum, phase 2 Marine creek, this offer looks great has any one signed, I called Carla Petroleum and they said they have many people in phase already signed,does anyone have any info about this, they also said contract was extended past Sept. 1, because of delay of receiving bonus checks

[Janet Carter]

I am a new homeowner in Terrace Landing between Marine Creek and Old Decatur and just hearing about mineral right in the Marine Creek area. Does anyone have any new information as to whether or not this area is included in mineral rights from Barnett Shale or anybody else. Does anybody have any information on meetings I may have missed or are upcoming?

[Diana and Walter Miller]

My husband and I own two homes in Greenfield Addition. We are trying to fin the contact for our subdivision. They called us months ago and said we would be added to their email group and we received nothing. Please send a note if you have the contact. Otherwise, I wanted to let all of you know that we received a lease stating $30,000 per acre and 25.5% from Chesapeake yesterday. I am looking for someone to tell me that this is what our group attorney negotiated and we will sign. They also indicated in the lease that they would pay our home owner's association $10,000. 70% of our property owners have to sign up.
Can anyone out there shed some light on this latest signing attempt by Chesapeake?
Thank you for your response.

[Virginia Hollins-Davidson]

I live in California but have owned and rented out a residential property in Marine Creek Estates since 2004, and had heard nothing about the oil/mineral rights issue until two weeks ago when I received a letter and a contract from Carla Petroleum on behalf of XTO to lease oil gas, and mineral rights. When I called the HOA this morning for information, they told me the HOA had held no meetings concerning this issue and that I would need to contact the oil company for information. I asked the woman who answered the phone if she was certain that was true and she responded that she was certain. Thank God for the internet! When I began looking for information, I found this blog. The letter from Carla Petroleum states that the offer expires September 1, 2008. In a follow-up letter, Carla agreed to use the Chesapeake contract wording if owner so desires. The offer is a bonus payment of $32,500.00 per net mineral acre and 25.25% royalty. Other than whether to use the contract negotiated with Chesapeake, is there other information I should have prior to making a decision?

[Aaron Finder]

There is one thing I am absolutely certain of and that is the fact that XTO would not be offering you $32,500 an acre if they didn't think Chesapeake would be interested in phase II. If there is no other competition for your area, they can offer you $5,000 an acre and you would have to take it or get nothing.

[Aaron Finder]

I think Chesapeake can reach phase II. The only questions are do they want to? Does it make sense for them? I think phase II will likely end up with XTO in the end. It just makes sense the more I look at it. XTO has everything else on that side of Huffines already....I think. XTO is a good company and if they put out a solid lease that ensures good royalties for the residents, you would be crazy not to take it. Phase I is already spoken for, but I have a feeling that XTO is not done yet. It's the bottom of the ninth inning and there are two outs, but XTO is still fighting. You never know what can happen.

[Stephen Williams]

I don't think the Ph II people (east of Huffines) can be reached by the Chesapeake padsite. They can only go 1 mile to my knowledge. I spoke with someone from Carla (XTO) today. They will leave the bonus $ at 32,500/acre and put a limited warranty on there to protect you from having to pay back $$ if you don't have the minerals. They will also change the verbage about royalties to match Chesapeakes. My big deal for the Ph II people is that we weren't included on the original Chesapeake deal for a reason. ie: I don't think they can reach us. Plus, XTO's deal will pool from a smaller unit w/less people which will increase the royalty payments big time, I think. I'm not trying to sway anybody, but I think we heard a one way story last night, which I'm sure alot was true, but it sure would have been nice for XTO to give rebuttals or clear things up. Phase II people: Let me know what you think. I am meeting w/XTO reps today and they are going to write me a new contract to satisfy any concerns I have. I will then let a lawyer, as well as some Chesapeake landmen scuitinize it. If they like it, I will sign with them. I don't care what XYZ drilling company I sign with, as long it is in my best interest. Ph I people have a good deal in front of them, but why not try to get a better deal for the PH II people? Again let me know what you think

[Eric Robertson]

I live in Marine Creek Estates and just recieved the offer from Carla Petroleum(XTO). $32k/acre and 25% royalties. Haven't checked the fine print yet and will be checking with the HOA to see what has been going on...this was a suprise in the mail yesterday.

[Aaron Finder]

Carla Petroleum(XTO) has mailed out new offers in the Marine Creek Area that offer promise of a record bonus of $32,500 per acre and 25.25% royalties but the lease is pretty one-sided and favors XTO and not the homeowners. There are all kinds of costs that can be deducted from your royalties if you sign this lease. If you are in this area, you need to know that the gas lease committee has already completed the bid process and Chesapeake has already won the bid for our area. They not only offered $30,000 per acre bonus and 25.25% royalties but they accepted the lease that we created with our gas attorney that is in favor of the homeowner and ensures that the minerals are produced the right way and everyone can enjoy outstanding royalties for years to come. It is also important to know that XTO had every opportunity to bid on OUR lease and chose not to do so. Please don't get taken advantage of by signing this new XTO lease. For more information, please email me at ajfinder@gmail.com