XTO Energy and newcomer Vantage Energy have won the latest endorsements from southwest Fort Worth homeowners groups representing thousands of property owners. The Overton Park and Overton West neighborhood associations, representing more than 800 homes covering about 350 acres, have set a Tuesday signing for a proposed contract with XTO and its agent, Holland Acquisitions. That lease offers a signing bonus of $25,000 an acre and a 25 percent royalty rate. And Southwest Fort Worth Alliance, representing more than 6,000 acres, has started information meetings on its deal with Vantage Energy and Caffey Group, which offers $27,500 an acre and 23 percent royalty.
XTO offered drill sites in locations that should minimize traffic disruptions and met safety concerns sought by residents, neighborhood organizers said. Bob Dellamura, president of the Overton Park Neighborhood Association, said the lease is an improved version of one XTO signed last year with nearby Tanglewood Neighborhood Association, and XTO’s presence in the area made it an attractive choice. XTO also agreed to donate a total of $70,000 to the neighborhood associations and improvement projects when it obtains leases covering 85 percent of the area. The neighborhoods are generally north of Southwest Loop 820, east of Hulen Street and west of Granbury Road. Those two neighborhoods were previously part of Southwest Fort Worth Alliance, but went their own way after Alliance leadership clammed up as if their talks were state secrets. The northern end of Foster Park, while also officially part of the Alliance, likewise can go its own way and join the Overton/XTO lease. Alliance leaders eventually released details of their lease Monday morning. The group says its three-year deal includes provisions to protect property owners within 1,000 feet of certain operations.
-- Jim Fuquay