Global Geophysical is now offering $25 per acre for the seismic pay and ordinary damages. This rate appears to be their maximum (their initial offer was $10 per acre). It appears that the survey will start within the next month and there's a rush to sign up surface owners on their "trouble list".
Both EOG Resources and Goodrich Petroleum are funding the survey.
My family dealt with CGG Veritas on the Louisiana side. They were adamant about their $$/acre figure for the seismic. However, some larger landowners did receive greater amounts by increasing the 'damage' portion of the fees paid.
That said, I have no idea how that may play in Texas.
Our heirship interests are the portion of the Angus Boon estate underwater starting with the Charity Smith Survey and through the G Cottingham and J H Lewis Surveys. How will the Phase 2 part map this area under the lake?
BJack, I was intrigued by you question re:how they will map the area under the lake because I also have minerals under the lake so I asked a member (ShaleGeo) who has offshore experience. He says they use air guns...
"Shooting seismic in the water is easy. Air guns are used. Offshore we have to watch out for whales per the government. No I am not kidding."
Here's an article that explains a little and you can google "underwater seismology" for lots more:
I wanted to let everyone know that if you signed the contract for the original offer of $10 per acre you can get the $25 per acre that the holdouts got. A couple of people in my area went up there and I did the same thing this week, just had to sign a new agreement for the $25 and they will send the rest of the money in a month or so. The man that I talked to said he felt that the people that worked with them to begin with should not be penalized. So if you got your check or signed for the original offer all you have to do is go up to 1st St in Lufkin and they will fix you right up.
Also, they have 6 crews out working with the drills trying to get this survey done, I had a crew 3 weeks ago come out and GPS all buildings and the corners of my property. So this survey is getting done at last.
Has this survey work been completed?
Is this survey covering south of the river near Redland? I understand it to be between Hwy 103 and the river? Did they go that far west. I am three miles, as a crow flies, from the Devon well off of Scotty Beard. Does anyone believe they might drill around Redland??
Does anyone know where I could get a map that shows where are going to shoot? - Thanks a bunch