After a few quiet months due to the economy, things are looking up for our coalition:
- Natural gas futures rose 29% last week.
- Recently Vantage Energy has expressed strong interest in our coalition and we have begun initial talks with them.
- Chesapeake has filed for a permit to drill a well at Harwood and Blvd 26 (on the TCCC campus) that could reach many of our member properties. Our attorney, Mark Nastri will be contacting them about our coalition properties that may be included in their drilling area.
- We are updating our coalition statistics today to reflect additions primarily in the commercial memberships. The commercial property owners, in particular, have been very responsive to our invitations to join us. We are continuing the research project to identify and contact property owners who are unleased and not yet a part of the coalition.
Volunteers Needed: If you have a computer and some time to contribute, we’d love to have your help on the research project. There are excellent written instructions on how to do the research and form letters to send to the property owners you identify. Please contact us at info@nhmoc.com if you can help.
Ed Ireland has given us permission to republish the following comments:
According to a new report by Ray Perryman, Ph.D., drilling and related activity in the Barnett Shale generated 111,131 jobs and added more than $11 billion to the region’s economy in 2008.
While the level of activity in 2009 will decline as a result of lower natural gas prices and the economy, Perryman projects that the economic contributions of the Barnett Shale in 2009 will still surpass 2006. He projects the Barnett Shale will contribute about $6.5 billion in output and be responsible for about 70,000 jobs in the North Texas region. The Barnett Shale is still a major stimulus to the region’s economy, and we can be thankful for that.
Sincerely,
Ed Ireland, Ph.D.
Executive Director
Barnett Shale Energy Education Council
The bottom line here is this: Do not lose heart. Things are starting to move again and the best thing we can do is stick together. Your coalition leadership is continuing to work for you every day. We are confident that we will negotiate a lease that is good for all of us.