The Central Arlington Property Owners group reports it has reached a lease deal with Chesapeake Energy. The terms: $26,500 lease bonus per acre, 26 percent royalty with no costs subtracted, three-year primary term, and two-year option.
Click here to visit the group's web site for information on lease signings.
Here's David Wethe's print story on the deal.
-- Scott Nishimura
The Barnett Shale Blog has caught wind of efforts to organize South Arlington homeowners in the neighborhoods west of Matlock Road, north of Arbrook, east of South Cooper Street, and south of 
Mayfield Road. This is just west of SEAPO and CAPO territory.
Organizers have scheduled a meeting, 7 p.m.-9 p.m. April 15 at the Mount Olive Church, 1200 Highpoint Road, Arlington. A flier being distributed in the neighborhoods reads: "Please do not sign a lease until you attend this meeting, Our neighbors directly across Matlock are signing for...$25,000 per acre with Carrizo Oil and Gas Co."
These neighborhoods began receiving offers months ago. We're trying to reach the organizers. More information as we get it.
-- Scott Nishimura
(Photo: Highlands shopping center)
We should award prizes here at the Barnett Shale blog for best new neighborhood group names. Arlington apparently hasn't run out of fresh acronyms for its neighborhood groups. Up steps CAPO (click here for its web site), which stands for Central Arlington Property Owners.
The group abuts the north end of SEAPO, and the neighborhoods it aims to represent are more southeasterly than central: Pioneer Parkway to the south, Cooper Street to the west, Park Row to the north, Susan Drive on the east, and east of Texas 360. The group's northern boundary also jogs up to take Mitchell Street. The neighborhoods are predominantly Hispanic, with many Spanish speakers, says Ricky Esqueda, lead organizer of CAPO.
We blogged Wednesday about offers the group has been receiving from Carrizo Oil & Gas.
Carrizo, in offers it's been sending out for about two weeks, is offering a two-choice menu, with lease bonuses ranging between $18,000 and $25,000 per acre. Esqueda says that's presented a challenge for property owners in his neighborhoods, with some homeowners signing off immediately at lease signing meetings Carrizo has been holding at the Bob Duncan Community Center.
Esqueda says the lease offers are "inferior" to what's been offered elsewhere in Arlington. Through fliers, the group's web site, and word of mouth, the group is spreading the message that property owners should wait. Property owners realize "they have an asset that is worth some money to the oil and gas community," says Esqueda, an accountant.
The neighborhood organizers' goal is "to help people become better informed on their decision, before they make a rash decision," he says. "I think that message is getting across."
CAPO wants to build its lease off of the SEAPO form, and SEAPO leaders are mentoring CAPO, Esqueda says.
To reach the group, visit its web site. Phone is (817) 705-5272. Email address is capo.group@yahoo.com.
-- Scott Nishimura
(Photos: Blanton Elementary School, Carter Junior High assembly)
