Posted: Wednesday, 13 June 2012 12:23PM

Carroll County Signs Oil and Gas Lease



Carroll County Commissioners have signed an oil and gas lease that will benefit the former Atwood Lake Lodge and Conference Center. 
 
Commissioner Tom Wheaton says an agreement was reached earlier this week with Sierra Buckeye LLC of Texas for the 500 acres at the former lodge. 
 
He says under terms of the agreement, the county will receive a signing bonus of $4,500 per acre for a total of $2.25 million dollars. 
 

 
Wheaton says the agreement also contains a number of other financial incentives. 
 
            
 
Wheaton says the important thing with the Sierra Buckeye agreement is that there will be no drilling on lodge property.
           
            
 
Wheaton says he hopes this agreement proves to be a win-win for the county.
 
            
 
Wheaton says this lease money is critical to the lodge’s success.    
 
            
 
Wheaton says the commissioners hope to finalize an agreement with Radius Hospitality Group to operate the facility in the next couple of weeks.

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Topics : Business_Finance
Locations : Carroll CountyTexas
People : Tom Wheaton
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