Parkwood Hill Estates, a North Fort Worth neighborhood of fewer than 100 homes, has set a natural gas leasing meeting for 7 p.m. Thursday, July 24, at Alliance Baptist Church, 8400 Park Vista Blvd. The neighborhood reports receiving lease offers with a $13,000/acre bonus and 25 percent royalty from Spartan Geophysical. A landman said it is the first Barnett Shale venture for Spartan, which has been active in Oklahoma. The landman said that about 150 residents have signed in an area roughly bounded by Teal on the west. North Tarrant Parkway on the north, Indiana Springs Road on the east and Chapman on the south. That area includes the Park Glen development. Spartan has made an identical offer in the Watauga area.
Parkwood Estates homeowners are trying to organize to negotiate jointly, but the neighborhood has no formal homeowners' association. Parkwood Estates is bounded by North Tarrant Parkway on the north, Parkwood Hill Boulevard on the east, Redwood Trail on the south and the Park Glen development on the west. The general area east of Beach Street and north of Basswood Boulevard is largely undrilled, according to Texas Railroad Commission filings.
-- Jim Fuquay