Gas Leases

A group of about 950 property owners in Haltom City agreed to a natural gas drilling deal with Dale Resources that will pay a signing bonus of $20,500 per acre.

The Haltom City Joint Neighborhood Committee, which represents about 350 to 400 acres, agreed to the lease with Dale, representing Chesapeake Energy, on Friday. The three-year lease will pay a royalty of 25 percent and has an option for an additional two years with a signing bonus of $15,000.

Checks will be cut at the time of lease signing, which will be held Wednesday through Friday at the Haltom City Recreation Center.

The group had been working on a deal with Dale since January, but the offers didn’t start going up noticeably until XTO Energy started competing in the area about four weeks ago, said Sandra Tork, one of the group’s organizers. The group could have pushed for more money but found it difficult keeping everyone together, she said.

“Our chickens and our cats started scattering, so we thought we better get this closed,” Tork said.

Congratulations to the land owners in Haltom City from the writers at Gas-Lease.org