River Trails Homeowners Association

We were just in contact with Carrizo Oil out of Houston & were advised that oil leases in our area are beginning to expire & if each individual lease is not re-newed it will be released to the property owner to re-negotiate to another drilling company.

Expiration on our property is Febuary 13th. We were told that if we had not been contacted on or before that date, then Carrizo had elected to not re-new said lease.

We were also told that to re-negotiate with another company Carrizo had to be contacted.

R. Wilcox....RTHA home Owner.    

Sorry, why if they're opting to not renew, would any re-negotiating with another company have to go through them?

not sure....i was told that to re-sign w/another company, they would hve to release the propert...obviously their drilling because scismic readings being taken in our neighborhood which is a mystery also...

it makes me think drilling would eventually lead to royalties to each property owner.

From what I understand, the seismic readings are being done all over the area and not by any one oil or gas company.  I understand they are looking at the feasibilty of oil

from shale rather than natural gas.

http://blogs.star-telegram.com/barnett_shale/2011/02/oil-shale-revolution-on-heels-of-shale-gas-boom.html