DFW West (Grapevine) gets lease deal with XTO

The DFW West Homeowners group in Grapevine reports it has accepted a lease deal with XTO Energy and its representative, Colt Exploration.

The terms: $18,500 signing bonus, four-year primary lease term, one-year extension option for $11,500 per acre, and a 25 percent royalty. The drill site would be north of Highway 26, Kevin Rhodes, one of DFW West's organizers, told homeowners in an email message.

"We will notify you as soon as the final lease is negotiated," Rhodes says in the email. "We anticipate having multiple lease signing meetings and possibly mailings for those who cannot make it to the meetings."

Click here to visit DFW West's web site.

-- Scott Nishimura

Comments

[Jim Colley]

Marc

People all over SEAPO are getting their bonus checks by certified mail and we are getting cards, emails and phone calls of appreciative neighbors who would not have had this windfall unless all the dedicated volunteers had put in hundreds of hours of work to make this happen.

In fact we did such a good job that Holland Acquisitions took in thousands of leases from the SEAPO area - many more than they thought we could deliver and they were overwhelmed. It is taking longer to process the leases because of the volume of work to be done, not because of a reluctance to pay.

Chesapeake Energy is funding the SEAPO deal through Paloma Barnett and they are one of the largest gas producers in Texas so there is nothing "Fishy" going on.

The SEAPO organizers care a great deal about whether or not the bonus checks are sent out. That's what our lives have been about for the last 2 months, 18 hours a day. To say otherwise is ludicrous, insulting, uninfomred and stupid.

Jim Colley

[Joe Stephens]

The problem is that the payment voucher contains a clause that says they are not subject to penalty if they do not pay within 20 business days. Big mistake. Maybe they think bad press won't hurt them.

[Marc]

Good thing is wasn't with PALOMA - SEAPO residents are STILL WAITING for their bonus checks - And, it has been 27 BUSINESS DAYS - And, we signed a legal payment voucher that states 20 BUSINESS DAYS. Yet no one seems to care?.?.?.?.

I would get your money ON THE SPOT if I were you. Paloma has done something "Fishy" in regards to the SEAPO residents - And, the SEAPO organizers are playing "Dumb"........