If you have not yet signed a lease for your mineral rights as of July 1, 2008, please be aware some of us unsigned property owners in Ryanwood are trying to get folks together so we can negotiate with Dale. Yes, as some people have pointed out, their current offer of $12,000/acre is much better than their original offer of $750/acre last year. However, times have definitely changed, and their offer is FAR less than the current prices being paid to other neighborhoods in Tarrant County in the last month alone.
Information on these other lease agreements are publicly available at http://www.neighborhoodlink.com/ftw/rynwdna/ Dale tells me its not valid information, that not all leases have been posted, and that our situation is different since so many residents have already signed leases in Ryanwood Maybe so. However, strength is certainly in numbers, and the 40-percent unsigned (before last night) is still plenty to prevent drilling from happening at this time.
I would be remiss if I did not encourage you to do what you believe is right for you and your family. Personally, I do not like the idea of shortchanging myself for an asset I own that will no doubt put lots of money into the pockets of the leasing and oil companies. After all, if I sell out for $12,000 and the going rate locally is, say, $25,000, who do you think will pocket the difference?
Of course, Dale will tell you if you ask that this is their best offer. Would you expect them to say anything else? I'll wonder now as I wondered back in fall 2007 when the Dale offer was $3,000/acre: what's the big rush?? Is the oil under our feet going to get up and walk away?
No doubt we lost some negotiating leverage since more than half our neighborhood has signed and the other leasing company walked away. However, no one can drill in this area until they can sign enough property to give them clear access for their pipelines. That has not yet happened, or else they would not have had another signing event last night.
Until we can create a separate Web site and contact information for our group, you can check this Web site to look for updates. In just the last day many people have stepped forward to volunteer their services as we investigate how to best approach this situation. If you are one of the property owners who has already signed a lease agreement, there's nothing you can do. Hopefully you received an offer with which you are happy. For those of us who are not happy with an offer that is less than half what the going rate seems to be elsewhere and are willing to wait a bit longer, stay tuned.
Charles Hodges
