Hi neighbors!
I recently received a letter from XTO Energy, asking for a decision to participate in a lease for homeowners in Coldwater Creek who have not yet signed a lease.
Has anyone actually signed a lease? The last I heard, XTO Energy had withdrawn their offer after our subdivision became known as having negotiated the highest amount for a lease with XTO Energy. According to the letter sent out by SEACTX May 2, 2008, the agreement was:
- Signing bonus: $26,517 per acre, including all strips, easements, etc.
- Royalties: 26.5% before expenses
- Term: 3 year primary/2 year secondary
- Extension: $26,517 per acre
And then they backed out. Wow, that’s quite a difference. What are your thoughts? Do you intend to participate? Do you have any other knowledge to share about this?