Was contacted today about signing for a 3D seismic shoot.  I am leased.  Was offered $15 per acre plus any damages.  He said that was standard price everyone was being offered unless the lease stipulated different.  My lease Exhibit “A” has the following statement:  “No seismic survey shall be conducted on the lease premises without further permission of the Lessor, which permission shalll be subject to further requirements”.  There is a water well testing clause, but in my case that is n/a.

Not looking to hold out, just want to make sure I’m getting a fair offer.  Anyone care to elaborate on my position (lease language), anything I may need in the seismic contract, and what is a fair rate.

Thanks

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Thanks for the info two dogs. I am glad to hear Torrent has the capability that you said. That is good. That is very interesting that halcon was considering my area. Too bad the bottom fell out first.  Would love to see some action there. 

Lisa, D&D Drilling is the drilling contractor. Magnum Producing is the well operator. And the well s/n is 251222.


M283 MAGNUM PRODUCING, L.P.

Is Magnum Producing a big fry or not?  Or are the a sub contractor of one of the bigger guys.   Not much on them out there.  Nothing seems to be updated yet on the status of this well on Sonris.   And if this is a Wilcox only well up to 7000' and only a prescription well not much will be learned about AC.   We have been hearing from time to time what seems like booms but that could be Fort Polk too.  I have not seen any Seismic contractors in my area.

Small fry.  They are drilling this prescription well for whomever owns the mineral servitude or existing lease rights.  The Gordon Holdings well is only permitted to 7000' so it will not test the AC.  By the time SONRIS is updated the rig will be long gone and there will likely be a work order to plug and abandon the well.  The legal reason for the well will have been fulfilled.

Gotcha!  Protecting lease interest.

The whole O&G effort can be very intoxicating for land and mineral owners when you are in those areas of activity. Best word to all is "patience". Things move slowly in the oil patch.

And new rumors make the rounds every day.  Hint:  the vast majority are misleading at best and the rest are just not true at all.  That's where GHS and the Internet come in.

So true!

Thanks RM! You have helped me understand alot of the process. At least I'm in a good area AC-Masters Creek Field & TMS.  

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Overheard during a paper mill strike: "If I don't hear a good rumor by 10 am, I start one."

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