A property owner in Grapevine south of Hall Johnson Road and west of Texas 121 reports receiving a letter from Davis Land Services, working the area on behalf of Chesapeake Energy. The letter says Davis will be sending out formal lease offers soon. It doesn't specify terms.
Leasing in Grapevine has been going on for months north of Hall Johnson Road and east of Texas 183, but hasn't pushed south of Hall Johnson.
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-- Scott Nishimura
I also live south of Hall-Johnson in Grapevine and received a visit from an XTO Energy rep at my door about two weeks ago. Handed me a brochure with an offer on the back: $18,500 per acre, 3 years/2 year option, 25% royalty. Said he couldn't guarantee they'd match the best offer, but they'd take a better offer back to XTO and see if they could match or better it.
Am now looking into a local coalition that has formed: Bedford-Colleyville Mineral Rights Coalition, which is planning to include parts of southwest Grapevine, including subdivisions such as Stonegate, River Oaks and Countryside Estates, all of which are south of Hall-Johnson and north of Glade.
Posted by: Drew | July 05, 2008 at 11:42 PM