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E- Newsletters & Emails>
Gas Mineral Rights Update
June 6, 2008
Dear neighbors and surrounding neighbors,
This week the White Chapel Corridor group (for which most are a member) met to discuss final plans for the upcoming gas lease. We are in the final stages of preparing a lease document, which has been worked on by 16 volunteers and has already been reviewed by no less than 3 volunteer attorneys who are part of our coalition. We have now retained a professional oil and gas leasing attorney to take it to the next (last) stage of finalizing the lease document, and expect the lease document to be completed next week.
This will enable us to immediately begin final negotiations talks with the two primary gas drilling companies to discuss the financial portion of our lease (i.e., bonus payments, royalties, etc.), with the hopes that these discussions will conclude in tandem with our attorney's effort to finalize our lease document which provides the best economic and environmental clauses to protect us.
There has been speculation recently in regards to Chesapeake and their commitment to continue to try to operate in Southlake. The WCCG is working with 2 other coalitions (SEC and DAGG), securing a large percentage of Southlake. With this mass, we believe we still have two companies who want to actively compete.
It is my hope that we will have lease/negotiation completed within next 2 weeks with recommendation from WCC (and other groups) on how to proceed, but as always, there is the potential that this expected timeline will be extended given the nature of negotiations. Once the recommended lease/offer is ready, I will let you know directly and we will assemble to determine next steps to coordinate the signing and completion of our lease.
I will keep you updated with any significant news. In the meantime, please remain patient and do pass this information to your friends or residents who may not be checking their email or may have not signed up for alerts thru WCC or Coventry.
Please ask with any questions or if I can be of assistance. Thanks.
Michele Packard
214.704.5180
mwpackard@charter.net
Email questions & concerns to:
Customer Service Toll Free Phone: 1-866-473-2573
Customer Service Email: service@RealManage.com
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