Thursday, January 8, 2009

Golf Club at Stonebridge to get $2.4 million from Chesapeake


Excerpt:
The owners of Golf Club at StoneBridge in Bossier City were waiting for a special piece of mail Wednesday — a $2.4 million check.
StoneBridge was one of the last major, publicly used properties in the Shreveport-Bossier City area to lease its mineral rights at the end of the year; it did so in October. While the golf course owners, the Municipal Police Employees' Retirement System, a statewide pension fund, are still deciding how to use the money, one thing local golfers might see is improvements to the course.
MPERS signed its mineral lease in October with Twin Cities Development LLC, a broker for the Chesapeake Energy Corp., for the $2.4 million bonus plus 25 percent of future royalties. The golf course is about 162 acres, so the leasing bonus alone works out to a little less than $15,000 per acre.
Complete story in The Times

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