We've been contacted by Global Geophysical Services, wanting a permit to perform seismic testing on our Angelina River Trend land, which is under lease to Goodrich for Haynesville Shale and Bossier formation depths. Although the Global agent stated that the testing is speculative, Goodrich's land man says that Global is acting on behalf of Goodrich and EOG. I've heard that $25-$50/acre is the going amount, but the Global rep is trying to lowball us at $10. Has anyone recently authorized seismic testing on their land in Angelina County (particularly in the Angelina River Trend), and if so, what amount did you negotiate for granting the permit?
What headright survey are you in?
Caddo Rat, our land is in the following surveys: J.T. Rawls, Nancy Lang, George Kinney, Friend McMahan, Juan M. Cruz, Caleb Holloway, Robert Lindsey, W.H. McKinney, and A. R. Taylor.
Mike R, as to Black Stone, last November when we were negotiating for a lease, Black Stone's rep told me that they are in a joint venture with EOG in Angelina County and that EOG was actually the money behind them. They offered a good bit more bonus, but insisted on an inordinately large drilling unit and their proposal had some other aspects that we found undesirable. We were impressed with Goodrich's approach, and thought they would be better for us long term.
I think I'll start on the upper end of the amounts suggested to me for granting a seismic permit, and see where we go. The Global rep says that they are 3-6 months away from actually doing any work.
We have minerals North and west of Zavalla, and south of Huntington. We haven't been contacted yet for leasing but I have been told at some point we will.