The East Trinity Mineral Leasing Committee is well on its way to getting its members signed up for the lease it agreed to last month.
The Euless group, which consists of the Stone Hollow Addition and the Park Hollow Addition subdivisions, is recommending that its members sign the offer from Cheaha Land Services, which is representing Carrizo Oil & Gas.
The lease includes a $19,000 per-acre signing bonus, a 25.5 percent royalty and an initial three year term with an option to re-sign for another two years at $12,667 per acre.
Dale Property Services later sent competing offers of $17,000 an acre, a 25 percent royalty, a two-year primary term and a two-year option.
The Euless group has already held four signing meetings and two more are planned. They are:
- Sat., May 10
- Sat., May 17
Both meetings are from 9 a.m. to 4 p.m., at the Airport Freeway Church of Christ. That's at 210 Airport Freeway in Euless.