Overton Park Neighborhood Association General Topics Lease Terms
Overton Park Neighborhood Association General Topics Lease Terms • Safety • Pollution and Noise • Drill sites • Compressor sites • Road Use • Neighborhood benefits • Individual benefits • others • Bonus per acre • Royalty • Primary Term • Pooling • Royalty deductions • Horizontal Severance • Top Leasing • others
Park Hill Gas Leasing Terms Issue Chesapeake/Four Sevens EXT/FW Energy Primary Term 3 years (&2) 4 years (&2) Bonus per Acre $15, 000 Bonus for Streets/Alley Not Addressed Yes Royalty 25% (&3) Royalty Deductions Taxes only Surface Waiver No operations but gives ingress/ingress No operations within 600 ft. Compressor site 1, 000 ft. set back Shut-in fee per acre $25 (&3) Pooling 640 plus 10% tolerance
Park Hill Gas Leasing Terms – cont. Issue Chesapeake/Four Sevens EXT/FW Energy Noise Abatement &11 HOA contribution $15, 000 pre 100 leases with $75, 000 maximum $10, 000 per 100 leases with $50, 000 maximum Drill Site 8 th Avenue site proposed Not restricted except for prohibition on 8 th Avenue Continuous operations &5 &5 Proportionate reduction &7 &7 Assignment by lease Permitted (&8) Permitted to XTO and otherwise with notice to Lesser (&8) Lessee's right to release Permitted (&9) Horizontal severance Not. PARK addressed HILL NEIGHBORHOOD Yes (&9) Indemnity &13 ASSOCIATION &13
Park Hill Gas Leasing Terms – cont. Issue Chesapeake/Four Sevens XTO/FW Energy Top Leasing Lessee -1 st right of refusal to match Permitted without restriction Notice to lessee and opportunity to cure Yes (&15) Not addressed Perpetual subsurface easement Yes (&16) Not addressed Lessor’s title warranty General warranty (&17) Warranty disclaimed (&15)
Resources Railroad Commission: www. rrc. state. tx. us/faqs. html City of Fort Worth: www. fortworthgov. org/Planningand. Development /info/default. aspx? id=30590 Fort Worth League Of Neighborhoods: www. fwlna. org/Gas%20 Wells/Gas%20 Well%20 Resources. htm
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