A property owner just to the north of SEAPO territory in southeast Arlington reports that Carrizo Oil & Gas is making lease offers north of Pioneer Parkway.
The offered terms from Eagle Land Services, Carrizo's agent: $25,000-per-acre bonus, 20 percent royalty, three-year primary term; or, an $18,000-per-acre bonus, 25.5 percent royalty, and three-year term. The offer is the same one that Eagle and Carrizo have been making to homeowners in the SEAPO group, which recently negotiated a deal with Paloma Resources on behalf of Chesapeake Energy. Carrizo claims to be the only company that can reach the neighborhood, which is north of Pioneer Parkway, west of New York Avenue, and east of Collins Street, says the homeowner, who's interested in joining a group.
SEAPO's boundaries are Interstate 20 on the south, Texas 360 on the north, Arkansas Lane on the north, and Matlock Road on the west.
Is a new neighborhood group -- and, if so, yet another new Arlington acronym -- in the making? Please feel free to use the comments section on this blog post to get the conversation going.
-- Scott Nishimura
(Photo: Hutcheson Junior High)