Timbercreek (Benbrook) agrees to sign with Fleet

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.

To see more about what we've reported on these three groups, click here.

--David Wethe

(Archive photos: Benbrook Lake)

Comments

[Got Canned]

I signed back in April and I was suppose to receive my signing money within 30 bussiness days. It has now been over 40 bussiness days late. Doesnt this make colt defaulting on the aggrement? Do I have the right for a new lease aggrement. This isnt right.

[wow]

wow. i hope nobody takes this pat guy serious.

Well those that did not sign with Fleet are getting offers of 10k to 16k per acre from XTO and Four Sevens. Rumor has it that Fleet has pulled out because he can't compete with the offers now. I guess it really didn't matter how many companies there are, get competing leasing agents seems to work just fine.

[herb]

we are still getting other offers from
colt they are willing to go to middle
of the street. i just would like to know
how many people have not signed any contract. maybe we could get together and try to get a better contract?
blog if you are one of them. maybe we could all meet at the school and talk.
good luck

[lope10]

Fleet/XTO is getting one heck of a deal with Timbercreek. I can't believe any other company is unwilling to bid over there. There is ALOT of gas under that part of the county.

The citizens of Timbercreek are getting the DRILLING SHAFT...