An agent for Hillwood Energy is offering to sign leases in Southlake's Cedar Oaks Estates neighborhood, southwest of Texas 114, south of Dove Road, and east of Randol Mill Avenue.
Doyle Land Services is sending out letters telling property owners that formal lease offers are coming soon. Offered terms: $5,500 per acre, three-year term and two-year option, $3,650 payment for a lease extension, 25 percent royalty, no surface access rights, and 30-day period after which the offer would expire.
Hillwood Energy is a Perot company and affiliate of Hillwood Development Co.
-- Scott Nishimura