When testing is done, whats the next process

I have a question. When the oil company have done the testing and find that you have rich veins for different minerals, what is the next process and how long it will take them to start drilling after the testing is done? And is there's a payout for testing on your land?

 

Jennie

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Permalink Reply by B.H. on April 1, 2011 at 17:23
Jennie, when you say testing I guest your talking about seizmic testing your land. for this kind of testing they pay surface owner for damages from 15.00 to 30.00 ac. If you are leased to O/G Co. they will look at data drill in area most likely to produce oil or gas. It could depend on several thing before drilling occurs ,data recieved from test,where said Co. is with drilling rigs, how ready Co. is to develope your land ,and maybe with the gas market (price) if you are in gas area,if your in Oil play your in driver seat. Good Luck
Permalink Reply by Jennie Jackson on April 26, 2011 at 6:13

Thank you B.H.  Sorry it took me so long to reply and to thank you for the information. There is drilling all around our property which is S29 T12 9W. This is off the Red Oak Road and Carlisle division. If you have any more info regarding this property, please keep me inform.

 

Jennie 

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