Down under in Mansfield: Info blackout on XTO deal

Well, they're apparently shut up tighter than the Taliban down there at Mansfield South United. Over the weekend, we blogged that the neighborhood group had agreed to terms with XTO Energy (based on letters XTO is sending out to property owners). No specifics on the terms or the drill site or what happens next, other than that interested property owners are to contact XTO's land agent, Permian Land Services. XTO has competition (see the previous blog post) in Grande Energy/Range Resources, which, at last we heard, was offering a $25,000-per-acre lease bonus.

Reached by email at mjphelan@aol.com, Mike Phelan, Mansfield South's organizer, said he was in Australia and won't return until late April, when he will be back in touch. "G' day," he said.

Update: There's a bit of a comment string going on over at the Debbie Lane Pool web site about the MSU deal. At least one commenter professes to know all the neighborhoods that are covered by MSU. You'll have to "Join the Group" to check in on the chatter.

Update II: Check out the Comments string on this post. One commenter claims to know the terms of the MSU deal with XTO and lays them out here.

-- Scott Nishimura

Comments

[Don]

Where can homeowners near Broad St. get in touch with a formed association or contact XTO energy rep for signing a lease or get a packet?

[john]

What's funny is that most of the HOAs in Mansfield are voluntary and not mandatory, and since each homeowner can sign whatever lease they want with whatever gas company they wish, it is purely opportunistic of the HOA and all they want is the 10k...(see below)

Here is what the offer is to Mansfield South United:

1. 23k per acre for 3 years with a 2 year option at 17k per acre.

2. 25% royalty

3. pooling of 640 acres +10%

4. 10k donation to each HOA

5. terms to be confidential lol

6. coordinate "mansfield south united" in securing times and locations for signing of leases and exchange of bonus checks - lol

"MSU" is supposed to:

1. notify the property owners
2. fully endorse and promote the deal
3. coordinate with XTO

[john]

What's funny is that most of the HOAs in Mansfield are voluntary and not mandatory, and since each homeowner can sign whatever lease they want with whatever gas company they wish, it is purely opportunistic of the HOA and all they want is the 10k...(see below)

Here is what the offer is to Mansfield South United:

1. 23k per acre for 3 years with a 2 year option at 17k per acre.

2. 25% royalty

3. pooling of 640 acres +10%

4. 10k donation to each HOA

5. terms to be confidential lol

6. coordinate "mansfield south united" in securing times and locations for signing of leases and exchange of bonus checks - lol

"MSU" is supposed to:

1. notify the property owners
2. fully endorse and promote the deal
3. coordinate with XTO

[john]

What's funny is that most of the HOAs in Mansfield are voluntary and not mandatory, and since each homeowner can sign whatever lease they want with whatever gas company they wish, it is purely opportunistic of the HOA and all they want is the 10k...(see below)

Here is what the offer is to Mansfield South United:

1. 23k per acre for 3 years with a 2 year option at 17k per acre.

2. 25% royalty

3. pooling of 640 acres +10%

4. 10k donation to each HOA

5. terms to be confidential lol

6. coordinate "mansfield south united" in securing times and locations for signing of leases and exchange of bonus checks - lol

"MSU" is supposed to:

1. notify the property owners
2. fully endorse and promote the deal
3. coordinate with XTO