Leaders of the three-neighbhorhood group in South Arlington told more than 1,000 property owners tonight that they've reached an agreement with Dale Resources, representing Chesapeake Energy, for a per-ace bonus of $22,500.
The group -- which consists of the Villages of Fairfield, the North Cravens community and the Harold Patterson community -- will also get royalties of 25 percent, a primary term of three years and a two-year option, according to the Harold Patterson Web site.
"The meeting went very smoothly," according to the site. "If they haven't drilled within three years they have the option to extend the lease another 2 years by paying you the same bonus amount again!"
One of the well sites is at Arlington Municipal Airport (at the end of Bardin Road near the Bell Helicopter area), according to the site.
If you want to see what we've written about these groups previously, click here.
The groups will start signing leases in two weeks, said Bill Tinsley, who leads the Villages of Fairfield group.
"We have arranged our lease signing so you will be able to get a real check, not a voucher or anything else but real cash, when you sign your lease," he said in an e-mail tonight. He added that the group's bonus is now the highest accepted offer for Arlington.
Carrizo Oil & Gas had been competing, offering a bonus of $15,000 per acre and a 25 percent royalty.
--David Wethe