Gas Drilling Information

10/6/2007

Gas Lease Information

Members of the Fairmount Neighborhood Association have been working the last few months to develop a lease we feel will be acceptable to everyone.  You may have read in the papers of the new terms accepted by our neighbors in Berkley and Ryan Place.  The lease we have drafted is a standard lease similar to theirs.

This standard lease is being used across the ten neighborhoods who worked together on the Joint Neighborhood Committee.  The lease is adapted for each specific neighborhood.  

The terms will be exactly the same for all homeowners in Fairmount who sign the lease:

Fort Worth Energy/XTO

• No Surface Drilling or Operation
• Lease for Gas/Oil
• Lease Term: 48 months
• Drill Site: Jennings & Page
• No 8th Avenue Drill Site
• No Drill Site Within 600 Feet of a Homesite
• No Compressor Within 1000 Feet of Fairmount’s  boundary
• Shut In Fee of $25.00/acre
• Gas Pooling Unit: 640 Acres
• Royalty: 25%
• Bonus: $10,000/acre

If you have not signed a lease we need to know you are interested please contact David Thrapp 817-923-4807.