Thank you for your patience while we work to bring the most comprehensive and lucrative mineral rights lease to each and every homeowner in our neighborhood. I wanted to take this opportunity to update you on our progress.
We have about 1200 homes in our Glade Road Neighborhood Alliance and have partnered with the Hurst Neighbors organization to form an even larger group. With this partnership, we now have potentially 3 oil & gas companies interested in leasing our mineral rights and a possible bidding war could ensue. The first company I contacted about our area has already completed a random title search on several tracts (homes) in all 6 of the abstracts (subdivisions) in the Glade Road Neighborhood Alliance. Good News! So far, no prior mineral rights reservations have been found! Our builder and developer did not reserve the mineral rights when they sold each tract. So unless some prior owner reserved them, you own them. Chances are highly unlikely that a prior owner reserved them as the Barnett Shale phenomenon has just recently ensued.
I am sure you have read articles in the paper about the mineral rights leases that have taken place in Fort Worth and Johnson and Wise counties. The end result of all this work will hopefully be a signing bonus payment that will net each homeowner with somewhere between $1,000 - $2, 000 and possible royalty payments of approximately 25%. That is our goal. I believe it can be reached under the current circumstances of 3 potential suitors and the large area of land we represent. Again, thank you for your patience. I hope it will pay off soon.
Please be aware that although we represent the homeowners in this area at large, mineral rights must be leased from each individual homeowner. Our website and word of mouth have gained us some attention. So please do not sign a lease prior to the outcome of our negotiations. You will be made aware when the Glade Road Neighborhood Alliance reaches a deal and signing parties are scheduled. You will also be provided information regarding drill sites and lease terms in advance of our reaching a deal.
We are still in dire need of volunteers to be on our Urban Drilling Committee. I can’t do this alone and I don’t think you would want me to. Our results will be much better with as many heads as possible on this project! So if you can spare some of your time and talents to help us with this, please log onto www.heatherwoodestates.net and send your contact information via email link. You can also read much more information under the Mineral Leases tab on the website.
Lastly, it’s beginning to look a lot like Christmas around here and we are going to try to get our front entrance decorated by this coming weekend. Let us know if you can help!
Wishing you a warm and wonderful Holiday Season!
Stephanie Thiele, President – Heatherwood Estates HOA