• Home
  • About
  • Publications
  • Links
    • Drilling and Fracking
    • Resources
    • Stuff I Like
    • TX Progressive Alliance
  • Must See Videos
  • PSYOPS
  • Shale Survival
    • Before drilling starts
    • Tools
    • Medical
  • FAQ
  • Contact Me

Texas Sharon's Bluedaze

Fracking News

Craddick Gets a Piece of the Barnett Shale

January 23, 2008 By TXsharon

Craddick got a finder’s fee.

Mexco Energy Corporation Announces Royalty Purchase

MIDLAND, Texas, Dec. 31 /PRNewswire-FirstCall/ — Mexco Energy Corporation (Amex: MXC) today announced it has purchased for $1,850,000 approximately 118 mineral acres amounting to approximately 22% royalty interest in three gas wells located in Tarrant County, Texas. This property, operated by Chesapeake Operating, Inc., contains one (1) producing well in the Newark East, Barnett Shale Field. Two (2) additional wells have been drilled on this acreage and are being prepared for production. The Newark East, Barnett Shale Field is one of the largest gas producing fields in Texas.

A family limited partnership of one of the Company’s directors, Tom Craddick, received from the Company a finders fee in kind, equal to 2 1/2% of the interest purchased. An unrelated individual received from the Company a finders fee in cash, amounting to 2 1/2% of the purchase price.

SOURCE Mexco Energy Corporation

“An unrelated individual” sounds mysterious.

About Sharon Wilson

Sharon Wilson is considered a leading citizen expert on the impacts of shale oil and gas extraction. She is the go-to person whether it’s top EPA officials from D.C., national and international news networks, or residents facing the shock of eminent domain and the devastating environmental effects of natural gas development in their backyards.

  • Mail
  • |
  • Web
  • |
  • More Posts(5115)

Filed Under: Barnett Shale

Comments

  1. WhosPlayin says

    January 23, 2008 at 1:03 pm

    Finder’s fee? Is Craddick a licensed Real Estate broker? If not, he’s broken the law, I think.

  2. TXsharon says

    January 23, 2008 at 2:50 pm

    I’m pretty sure a Real Estate license isn’t required to broker a deal to lease the mineral rights.

Stalk TXsharon

Recent Posts

  • Update: Chris Faulkner > IT Guy > Frack Master > Felon
  • French Energy Giant Total Declares War on Texas Toddlers
  • Hydrocarbon odors during oil and gas drilling
  • MSNBC and TXsharon in the Texas fracking zone
  • Blowout: Inside America’s Energy Gamble
  • The global warming potential of methane is damn important

Like Earthworks on Facebook

Categories

Archives

All work © Sharon Wilson. No works may be shared copied in full without permission. Bluedaze: Drilling Reform. Site Design by Sumy Designs. Powered by those who advocate for a safe and healthy environment.