For a new company, Titan Operating is up and running like a veteran. In the past month it has won the endorsement of big neighborhood groups in Colleyville and North Arlington, and this week announced the financial backing of Riverstone Holdings, a $15 billion private equity firm with sizable energy holdings. Chalk up the fast start to Titan's founders, all experienced Barnett Shale producers. Titan Chairman Hollis Sullivan is also president of Wichita Falls-based Hollis R. Sullivan Inc., which in July was named as one of the sellers of $800 million worth of producing properties and leases in the Barnett Shale to XTO Energy. Other Titan co-founders are Christopher Hammack, former vice president of drilling and completions for Range Resources, and Mark Schumacher, who headed EnCana Oil & Gas USA’s Barnett Shale operations. Riverstone did not disclose the amount of its investment in Titan, but said it “made a significant capital commitment to Titan,” which it said will focus “on acquisitions and development in the Barnett Shale.”
Click here for the Star-Telegram's report on the transaction: Download titan_resources.doc
-- Jim Fuquay
I just got a letter from The Caffey Group on August 28, 2008. Here are the following terms:
1. Lease Bonus payment of $26,000.00 per net mineral acre.
2. Primary Term of 3 years with Lessee's option to extend for 2 years at $26,000.00 per mineral acre.
3. Royalty on production will be 25% of the net mineral interest ownerd by Lessor in the gas unit.
4. Lessee shall pay to Lessor the following royalties, which shall, except for Lessor's share of production serverance taxes be free of all costs of any kind.
Any opions on this offer. I called the phones number on the letter and I'm waiting for a landman to contact me. Thanks
Posted by: Paige | August 31, 2008 at 06:01 PM