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E- Newsletters & Emails>
Gas Mineral Rights Update
June 28, 2008
As you recall, at the beginning of the year gas/mineral bonuses began at $5,500/ acre. For the past few weeks we've heard $18,500/ acre is the highest number that's going to be paid . . . any higher and the company is just going to pull out of the Southlake market. Just last week, the SEC coalition in Southlake and Hidden Lakes in Keller signed leases for $20,000 acre to XTO.
HOA chairs of the WCC (on behalf of 3,000 acres it now represents in Southlake) have an established a deadline for companies to complete their leases and submit bids. Prospective bidders must agree to bid based on the lease completed/negotiated in hand. Minimum Standards were established, which are greater than what has been achieved with other neighborhoods to date.
Again, our charter has never been to hold out for every word or penny. There have been hundreds of man-hours volunteered by local residents and professionals and we feel we have achieved the best value. You would not be able to achieve the same results individually. The bidding companies will not low ball our group and have opportunities to be creative in their incentives.
There will be no more updates on lease terms. Our deadline has been set. The WCC coalition looks forward to announcing next week.
The next update will come in terms of a press release announcing our unanimous decision. We look forward to working out the logistics of signing parties and celebration!
On behalf of everyone that has participated: We thank you for your support, encouragement, dedication and patience.
Please ask with any questions.
- MP
Michele Packard
214.704.5180
Email questions & concerns to:
Customer Service Toll Free Phone: 1-866-473-2573
Customer Service Email: service@RealManage.com
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