payments for siemic testing
Can anyone tell me if $25 per acre is reasonable for access in order to do testing. My land is already under lease with a well recently drilled in our section. Also, we have been informed that they are planning on drilling at least 4 more wells in our section. Seems to me that this is a good sign that the wells should be good ones.
Tags: for, payments, siemic, testing
Views: 62
Replies to This Discussion
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Permalink Reply by Henry on
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Barry, This sounds like a reasonable price. Note -- you may write an addendum to the contract that specifies such things as: notification before testing starts (not that anyone notified me, even though it was in my contract), parts of your land on which they may not go, deadlines for restoration if any damages occur, etc.
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Permalink Reply by Allen D, Beckham on
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Specify term limits to do seismic work, ie, 18 months, not unreasonable. Also, make payment due upon receipt of contract not upon star of work.
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Permalink Reply by Mac Davis on
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Unless you've got a lot of acres, don't do it for the $25 per acre payment.
If you do it, do it because it may increase gas/oil production and payouts.
Be sure to specify a small window of time in which they can do the survey.
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Permalink Reply by smith1 on
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we did $25/acre because from what I understand, the sooner they do the seismic the sooner they Might drill. We have 30 acres. Be sure and put an addedum (damages to timber, etc.), payment upon signing.
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Permalink Reply by Larry T on
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$25 is going rate in Bienville Parish, if they have surface rights, they can do anyway, there is very little damage invovled. only they sent us a check before they started.
LT
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Permalink Reply by Bobi Carr ("parker") on
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Has anyone else received any EXTRA if they are actually shooting the holes on your property?
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Permalink Reply by Anita Goodson on
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Barry,
What parish & section do you live in?
Anita
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