Burleson groups, Chesapeake reach record $27,200/acre deal

Two big Burleson property owners groups have jointly accepted Chesapeake Energy's leasing offer of $27,200 per acre and a 25.25 percent royalty, organizers say. The central Burleson and south Burleson groups together represent upwards of 2,000 acres, including school district and city property, said Carter Mahaney of Burleson Community of Gas Lease Holdouts, the south side group. The other group is the Central Burleson Holdouts. Also bidding was XTO Energy, which offered $22,000 an acre and a 25.5 percent royalty, Mahaney said.

Mahaney said Chesapeake told the groups it has secured several drill sites capable of reaching much of the city, which is partly in southern Tarrant County and mostly in northern Johnson County, the two most productive counties in the Barnett Shale field. He said the groups will rely in the city's recently modified drilling ordinance to provide major environmental and safety protections. Mahaney said his group will continue to accepting members through May 15, and he hopes lease signing will be completed by the end of June.

-- Jim Fuquay

Comments

[Kim]

WHEN DO WE START RECEIVING OUR ROYALTY CHECKS FROM CHESAPEAKE FOR OUR 25.25 %.
THE BONUSES WERE PAID , BUT NOT THE ROYALTIES.

[Michael R.]

We live in Burleson, near the Crowley border and several residents in our subdivision were wondering how and if we will be approached by any of the utility companies reference the Barnett Shale. It seems everybody around us is making agreements and we are surounded by several drilling rigs in area. Any info would help. Michael R. The Meadows Subdivision.

[Don Young]

Will someone please provide details of the "major environmental and safety protections." In these surreal days of the Barnett Shale, definitions of words like, "major", tend to have new meanings.