Monday, November 08, 2010

Madoff, the Barnett Shale and Joe Pool Lake

"Lease Dallas County gas rights with New York capital and flip the leases at a profit."
Bernie Madoff ~ The King of Thieves

12:11 AM CDT on Sunday, November 7, 2010

By RANDY LEE LOFTIS / The Dallas Morning News

On its face, the Dallas County venture looked like many others in the Barnett Shale, the nation’s biggest gas field, where companies have drilled an estimated 17,000 wells since 2005.

The party obtaining a gas lease from a mineral rights owner might be just a middleman, hoping to resell the lease to a production company.

Court filings do not list the total profit for all participants, but they do specify Conglomerate Gas II’s share: more than $3.34 million. [emphasis added.]

Read the rest of the story here.


  1. More oil would be produced as these companies continue to do their drilling however, they should also remember to take the environment into consideration.

  2. Serge. Thank you for your comment. This is shale gas in our area. There has been a lot of new information since this story in late 2010.

    Residential drilling and fracking continues along with the necessary pipeline construction. All of it is being done with very little real oversight. And that is why we write this blog. Thank you, again.


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