The Timbercreek Neighborhood Association in Benbrook has agreed it's time to put their name on the dotted line with Fleet Oil and Gas.
For a $7,000-per-acre bonus on a three-year initial term and a two-year option, the Timbercreek neighborhood is recommending that its members sign with Fleet, which will turn the leases over XTO Energy, the only company drilling in that area.
"We began this task believing we would be able to negotiate for the high dollars we were observing in other areas," Pat Dunkin wrote in an e-mail to Timbercreek homeowners. "However, those areas have more than one gas company wanting to drill in their neighborhoods, and we did not. No competition, no large bonuses."
As a result, Dunkin is telling property owners to show up for a lease signing party at the Best Western hotel on Tues., April 22, and Thurs., April 24, from 5 p.m. to 8 p.m. and on Sat., April 26 from 10 a.m. to 1 p.m.
If you go, bring:
- Driver's license or valid picture ID
- Your spouse; both need to attend before you receive your check; if your spouse can't attend, he or she can come back at another date or schedule for a Fleet representative to come to your house
The bonus check will be handed out at the Best Western after you sign. But Dunkin points out that not all contracts may be available at the time of the signing. If not, hold tight, and Fleet representatives will dig it up soon, she said.
Trinity Gardens, which had teamed up with Timbercreek on negotiations, already signed their leases, Dunkin said. Trinity Estates, another neighborhood group working with Timbercreek, still has yet to sign, she said.
(Archive photos: Benbrook Lake)