We told readers in the print edition of the Star-Telegram on Thursday that the Westcliff West neighborhood group in southwest Fort Worth is currently mulling an offer from Chesapeake Energy that includes a $16,500-per-acre bonus, a 25 percent royalty and a five-year term.
It's come to our attention that it's actually Four Sevens who is serving as the land agent for Chesapeake on that offer, not Dale Resources.
At this point, there's not competition in that neighborhood, said Marc Meadows, one of the negotiating leaders for Westcliff West. But keep in mind what XTO Energy is doing, he said. Fort Worth-based XTO has made an offer to the nearby Foster Park neighborhood for a $21,000-per-acre bonus on an initial three-year term and a $15,000-per-acre bonus for an additional two-year option, and a 26 percent royalty.
"Things are getting a little juicier," Meadows said.
He said he's been told that Chesapeake would meet or beat that offer for Westcliff West, even though it technically hasn't been offered by XTO to his neighborhood.
If that's the case, Meadows' negotiating committee for Westcliff West would recommend signing that kind of a deal, he said.
We'll wait and see.