Greater Spring Lake and our mineral rights: Where we stand right now
From the 7-16-09 Shreve Centre Coalition Board Meeting
The board met at its usual time (6:30 p.m.) with a couple of guests in attendance. First, RIck Seaton, assistant chief administrative officer for Mayor Glover, spoke on the mayor's behalf, citing the mayor's commitment to supporting neighborhood groups. The Mayor's office also stands behind their previous committment to contribute the streets and drainage in the area, mapped out by the Coalition, if our efforts are successful. Since the sharp fall in gas prices, the oil and gas companies have backed off from their willingness to work with neighborhood groups and "prefer" to deal with people on an individual basis. But this is little more than economics at this point (get as many leases for as little as possible). As prices rise, so will their willingness to work with groups again. After all, as individual homeowners, we make the choice of whether or not to lease our minerals. But as part of a group, we have the option to take advantage of the knowledge and experience offered by our neighbors, some of which are oil and gas attorneys and geologists, who can work with the oil companies to create a lease that doesn't take advantage of homeowners. Whatever you decide to do, please don't sign a standard oil and gas lease!
PetroHawk combined a couple of units along the Red River, near The Haven, which included about 16 home owners in the Jackson Square area. Members of the Shreve Centre Coalition assisted in providing information to those homeowners so that they could sign as fair a lease as possible. The bottom line: $15,000 an acre, 25% percent royalty. Not bad. Although they couldn't get the "transportation costs" excluded.
Many neighbors within the Coalition are being contacted by landmen, most of which are being met with the same reply, "We are with the Shreve Centre Coalition, talk to them." I encourage you to do the same. I know I will.
Also, Chris Chandler, a realtor and homeowner in University Terrace, spoke to the group about the Mayor's initiative for a new Master Plan for the city. The last one was in 1957. As a result, 3132 and Clyde Fant Parkway developed. This year -long process will kick-off August 22, at the Shreveport Convention Center where 800 residents will view a slide show and get to vote on a number of ideas (housing, education, infrastructure, etc.) for the future of Shreveport and Caddo Parish. To register for one of those 800 spots, go to the City of Shreveport's website and, under "Key Topics and Links", click on "City/Parish Master Plan".
In one last bit of Coalition news, a map and other information about the Coalition were mailed to prospective oil and gas companies in the Texas area, in an effort to market ourselves and encourage competition. Some were companies that, prior to the price fallout, were scheduled to make presentations to the Coalition board.
As always, if I can answer any questions about out GreaterSpringlake Mineral Lease Group, please call me at 861-1249.
Thanks.
Mary Richter
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