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