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Gas Leasing Ad-Hoc Committee
Report for February 2008
Dear Residents,
I am giving an update on the gas leasing in the community. There are several landmen in the area trying to sign up people with XTO. I spoke to a representative with XTO who today offered those people desiring to sign on to our community lease a 25% royalty along with a $10,000 per acre bonus. I was offered a 20% royalty and a $2000 per acre bonus last October. This is their initial offer. There are other valuable lease provisions that we have yet to discuss that will benefit the neighborhood. We also have the possibility of another gas company making a bid for us to consider.
Please, DO NOT SIGN ANYTHING until we have an opportunity to negotiate further and determine the best offer.
Brad Shaw
LCPOA Gas Leasing Chairman
817-566-2963 x 709
Brad@elcpoa.org
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7105 Golf Club Dr, STE 1102 PMB 110 Fort Worth, TX 76179 |
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