$30,000 per acre barrier about to fall & 25.25% royalty per acre leasing rights Tarrent County; just a quick update of the leasing activity of the Barnett Shale in the Fort Worth/Tarrent County.
Note the location of Lake Worth, Northwest of Fort Worth. All the prior big $$$ leasing activity was occurring to the east of Fort Worth. IMO this is further evidence that it is only a matter of time before Hemi Energy strikes an agreement, on whatever those terms are the Hemi is proposing, for its leasing rights.
If one reviews the activity in Tarrent County over the past 9 months, it is apparent that the Tarrent County property owners are steering these Big O&G Companies to agree to the property owners terms and price.
For the O&G Company it is still simple economics of doing business and it is alot less expensive in the long run to strike a deal with these property owners than to not be able to continue on going O&G operations on a given site.
For those that are new to the HMGP board, this is also a key part of the Hemi Energy business strategy as discussed by Hemi in the prior PR's since December 2007 as well as Hemi Energy making public (April 2008) some of these acquired leases that Hemi obtained that will be required by the "big O&G Companies" already established in this Barnett Shale play.
Also check out the weekly new Barnett Shale drilling activity in this area; it just keeps on growing.
Kels
Star Telegraph - Fort Worth
August 5, 2008
$30,000 bonus for Lake Worth groups
A group of neighborhoods covering about 650 acres just east of Lake Worth is negotiating a mineral rights lease with Chesapeake Energy that includes a $30,000-an-acre signing bonus, the highest known bonus paid in the Barnett Shale. It would top the previous record of $27,200 won from Chesapeake in May by a Burleson group. The Lake Worth area landowners, whose property is in both the city of Lake Worth and also the city of Fort Worth, and Chesapeake have agreed on the financial terms and are working on environmental considerations, negotiators said.
About 1,200 property owners in Boat Club Estates, Highland Lake Estates, Jinkens Heights, Crestview, Crestridge, Triangle Estates and Lakeview Estates neighborhoods are involved in the lease. The land is roughly bounded by Lake Worth on the west, Azle Avenue on the south, Boat Club Road on the east and Basswood Road on the north. Jerry Welch, a negotiator for Boat Club Estates, said the group didn’t set out to set a record, but a last-minute bid by XTO Energy pushed the process to a head. The lease also carries a 25.25 percent royalty.
