The group in Southlake known as the White Chapel Corridor has recently merged with several other groups in its area to put together a total of about 3,000 acres for negotiating purposes with drilling companies.
The groups joining White Chapel are the Southlake East Corridor and several other more or less unnamed neighborhoods, according to a release recently put out.
The groups have agreed on a "common lease" that has been sent out to competing drilling companies. The groups have a standing offer from Chespapeake Energy for a bonus of $17,000 per acre, while XTO Energy has not made an actual bonus offer but has committed to not be outbid in the market, according to White Chapel's release.
Here's a link to the group's website.
"The lease encourages gas companies to move forward quickly and (to) completely develop the area," according to the release. "It places strict parameters on noise and visual appearance while giving the company the flexibility they need to develop the minerals."
Here's what we've said about the White Chapel group before.
Click here for a map of the area where the group is in: Download pastedGraphic.pdf
--David
Can you advise what Chesapeake is paying for gas leases in Seminole, OK?
Posted by: Andrew Fine | May 20, 2008 at 11:32 AM