Committee, residents worked on lease
When the Caywood Group (Fearing Township) was first formed approximately 2 1/2 years ago, our objective was to come together as an affiliation of neighbors/landowners to lease our oil and gas rights. The Caywood Group was intent on benefiting all landowners regardless of acreage so that every family would derive the same benefits of an equitable lease agreement, lease bonus, and royalty.
We are proud to thank our community for sticking together through some hiccups and renegotiations. The result has been that we were rewarded with the largest per acreage lease bonus for a landowner group in Washington County. More importantly our landowners have been paid promptly by PROTEGE ENERGY III. The old adage, “more important than the deal is who is involved in the deal” was never more apparent than when we chose our attorney, marketing group, and ultimate leasing partner. We hired Jim Higgins of Theisen Brock (Marietta, Ohio) to represent our legal interests. Additionally, the marketing of our acreage was deftly executed by Jim Vuksic and Doug Mallett of MNW ENERGY (Marietta, Ohio). We ultimately leased our oil and gas right to PROGEGE ENERGY III (Tulsa, Okla.) Our steering committee received no additional compensation whatsoever for the many hours dedicated to the negotiating process. But Becky Hartline’s pie and ice cream were quite a treat.
The Caywood Group Steering Committee would like to thank all the people in the Caywood area for being so patient. We were proud to represent a loyal, hard working group of people.
Without their support and trust our community would not have experienced such a great success. PROTEGE ENERGY III has been an incredible partner to work with throughout the progression of the negotiations. We look forward to future development with the Caywood Group and PROTEGE ENERGY III.
Bret R. Frye
On behalf of the committee