The group in Southwest Arlington known as Turf Green United says on its website that it has reached a deal with a relatively new drilling company Titan Resources and its land affiliate The Caffey Group.
The terms of the deal are:
- $25,500 per-acre bonus
- 25 percent royalty
- Initial three-year term with an option for another two years and another $25,500 bonus
Competition helped drive up the price. We last told you in late February about a $17,000-per acre signing bonus and a 25 percent royalty offered by Carrizo Oil & Gas. The group also reports on its website that it received an offer of $25,000 per acre from Dale Resources, representing Chesapeake Energy.
The group, which posted the deal agreement last night, also announced signing dates at The Church on Rush Creek, at 2350 SW Green Oaks Blvd., in Arlington.
- Tuesday, June 10, 4 p.m. - 9 p.m.
- Thursday, June 12, 4 p.m. - 9 p.m.
- Saturday, June 14, 10 a.m. - 4 p.m.
- Tuesday, June 17, 4 p.m. - 9 p.m.
- Thursday, June 19, 4 p.m. - 9 p.m.
- Saturday, June 21, 10 a.m. - 4 p.m.
When you go to sign, you'll need to bring a picture ID, and all parties that own the property must sign the lease, the group's Website said.
The group is also expressing frustration that officials for Dale Resources is going around the neighborhood, posting flyers on people's doors.
"The lease they are offering is not a Turf Green United approved lease. This a common tactic used by this company to cause signing date confusion within a united neighborhood. These types of dishonorable tactics are unwelcome and speak loudly on the way Dale conducts business."