Haltom City group inks for more than $20,000

A group of about 900 property owners in Haltom City agreed to a natural-gas deal with Dale Resources that will pay them a signing bonus of $20,050 per acre.

The Haltom City Joint Neighborhood Committee, which represents about 350 to 400 acres, agreed to the lease with Dale, representing Chesapeake Energy, on Friday. The three-year lease will pay a royalty of 25 percent and has the option for an additional two years with another signing bonus of $15,000.

Checks will be cut at the time of leasing signing, which will be held Wednesday through Friday at the Haltom City Recreation Center.

The group had been working on a deal with Dale since January, but the offers didn’t start going up noticeably until XTO Energy started competing in the area about four weeks ago, said Sandra Tork, one of the group’s organizers. The group could have pushed for more money, but found it difficult keeping everyone together, she said.

“Our chickens and our cats started scattering, so we thought we better get this closed,” Tork said. “It gets to be a little nerve frazzling after a while.”

Here's our print story on the deal.

--David Wethe

Comments

[Leonardo]

I hadn't been by in a while and recently I notcied referral hits from your blog. NE Tarrant County has more restaurants than Fort Worth I would guess. I hope you can continue.

[Irma Sotak]

has anyone started getting royalty check from Grande Energy Company lake Como Project, I had signed on May 29, 2007 for 3 years, I have called them by phone with no replys

[James Madewell]

Has anyone started getting checks from XTO? When we signed on June 20th, we were told checks would be out within 30 days. It is Aug. 1, and no checks. I have e-mailed XTO with no replys.

[Sandy P.]

I've missed the date of lease signing, which was held on Wed.- Fri.June 18,2008 - June 20,2008 at the Haltom City Recreation Center. Is there a way or time I can join?

Thanks,
Sandy P.