Likely in response to the superior offer our neighborhoods received from Chesapeake, XTO has increased its offer. We have not yet received the offer in writing, but I understand the terms include a $16,500 bonus per acre (with acreage calculated to the center of the street) and a 25% royalty.
This is a respectable improvement from XTO's previous offer.
It is possible that Chesapeake will counter-offer on our areas. We will keep you advised.
Kudos to the OWNA oil and gas committee as well as to the volunteer leaders from Overton Park and Overton Woods for their continuing efforts.
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1 comment:
Kudos Indeed!
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