Westcliff West and Foster Park (FW) mulling offers

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.

For background, here's what we've said in the past about Foster Park.

And, here's background on Westcliff West.

"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.

--David Wethe

Comments

[BH]

Do an overnite deposit at your bank of that voucher. Let the bank call Paloma
the next am to make it good.

"Fishy" is an interesting word to use for
corruption, deceit, and lies.

Their first order of business with you is
in the courthouse locking your lease in.

The money they owe you is secondary.

[Marc]

Watch out getting any offers from 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"........