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Gas Lease Information |
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Barnett Shale
You've probably heard about the Barnett Shale gas play. The gas in question is buried about one mile below us.
The Barnett Shale is a large natural gas reserve encompassing more than 5,000 square miles and covering at least 17 counties in North Texas. Many experts believe the Barnett Shale may be the largest onshore natural gas field in the United States, containing more than an estimated 26 trillion cubic feet of natural gas. In recent years, advances in drilling technology have made it possible for energy companies to extract large amounts of natural gas from the Barnett Shale.
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Lease Signing Bonuses
A MINERAL LEASE is the only way to properly grant a drilling company the right to drill through or extract gas from property that they do not own. The lease protects both you and the well operator.
A lease signing bonus is up-front money paid to mineral owners by the operator to entice the owner to sign a lease. Three years ago mineral owners were receiving signing bonuses of about $1000 per acre. Now the average is well over $15,000 per acre for large areas of contiguous property. The problem here is that we each only own a single residential lot or, at most, several acres.
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United Front
Smaller tracts usually receive a very small per-acre bonus... The owner of minerals under a 60x150 lot, for instance, would only be paid a bonus of $207 if the rate is $1000/acre. If we all act together, our small tracts will receive the same respect ($/acre) as the "big guys". Instead of receiving a bonus of $207, a 60x150 lot might garner a $2,200 bonus.
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Proposed Lease
The investigative committee is developing a sample lease, which will be posted on this Web site. DO NOT CONSIDER THE SAMPLE LEASE AS LEGAL OR FINANCIAL ADVICE. If there is sufficient participation by you, the mineral owners, the sample lease will be the basis for a Community Lease.
Our environment, signing bonuses, and mineral royalties will all benefit if we present a united front.
We need Letters of Intent (LOI) from every property owner who wants to participate in the Community Lease.
If you have not submitted an L.O.I. please Go Here. You can submit your information online, you can print and fill out the form, or you can click the menu button Contact NFWMLTF (at left) to request an LOI form from your respective Neighborhood Association and to inquire how you can help us make a positive decision for our neighborhoods. Maximum participation will result in maximum return!
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