CAMRA ENDORSES

TITAN / CAFFEY

On August 4th, the Colleyville Area Mineral Rights Association ("CAMRA") announced its endorsement with The Titan Operating, LLC & Caffey Group ("Titan/Caffey") on a comprehensive mineral lease, culminating six months of organization and negotiation efforts.  The lease was unanimously endorsed by the leadership of more than thirty-five subdivisions, neighborhood associations and landowners that comprise CAMRA.Titan/Caffey have agreed to the environmental protections, business terms and superior economics CAMRA aggressively sought.  Our lease is far superior to the terms offered by the other gas companies we negotiated with (including Chesapeake and XTO).

Highlights of the CAMRA-Titan/Caffey lease include:

• $25,000 per net mineral acre signing bonus for a 3-year primary term
• $25,000 per net mineral acre additional bonus on a 2-year extension to the primary term, at Titan/Caffey’s option
• [Note:  Realize that is $50,000 per acre paid within 3 years if the option is exercised!]
• 25.50 % royalty - expense-free/without cost
• Lot sizes measured to account for adjacent streets/alleys.
• No warranty of title; landowners may keep all bonus and royalty payments received to date if title to their mineral rights is ever contested.
• Comprehensive royalty protections to ensure that the full value of extracted gas is realized
• Favorable terms for shut-in wells - $250 per year per net mineral acre.
• Comprehensive environmental protections and operational provisions (in many ways more favorable to landowners than city ordinances) ranging from road usage, groundwater protection, noise suppression, pollution constraints, fencing, lighting, contamination, hazardous materials and cleanup.
• Non-Wavier of City Ordinances
• NO setback less than 1000’ WITHOUT WRITTEN CONSENT OF LESSOR.
• Most Favored Nation Status (6 months from the date of the lease).
• Protections to ensure no surface operations ever take place on leased premises.
• Comprehensive indemnities and insurance coverages to protect landowners.
• Payment of fees charged by mortgage companies for Subordination/Non-Disturbance Agreements, if needed.

This lease offer is available to all property owners within the CAMRA coalition boundaries who have not yet signed an oil and gas lease. 

The lease signing process is being finalized with Titan/Caffey and will be detailed on August 5^th.  Check the website for the signing schedule and answers to frequently asked questions (FAQ’s).  Drafts will be given at lease signing and subject to verification of mineral rights title and will be paid  within a thirty (30) business day (i.e. up to 5-6 weeks of calendar time) after signing.