Replies to This Discussion

Permalink Reply by Rod B. on April 12, 2009 at 5:38

I received $25 @ acre in west DeSoto parish sec 26-11-15 a month ago from Cajun Exploration. The check came from Chesapeake not from cajun.

Permalink Reply by getoverit on April 12, 2009 at 6:19

Not us. We only received $15 per acre. Would love to hear from anyone who received $25 per acre from Veritas as well. Thanks!

Permalink Reply by DKR on June 15, 2009 at 10:23

I received the same in DeSoto Parish S31, T12n, R14w in April from Chesapeake thru Cajun Exploration.

Permalink Reply by waltcop on April 12, 2009 at 15:17

How do they determine who and where to explore/shoot? Is it to the surface owner of minerials only? Can I, 50% minerial owner of 68 acres with no surface rights in northern Sabine parish, receive an offer? Do they test in unitized sections with leased minerials only or do they extend offers to leased and unleased minerial owners? Just curious how all this works and if I could ask for some test made on my tract.

Permalink Reply by Henry on April 13, 2009 at 1:31

Waltcop,
As I understand it, Veritas is under contract from several big gas companies (Encana, Shell, Chesapeake, etc.) to shoot a huge area around SE DeSoto, western Red River, and northern Sabine Parishes. In order to go onto the land to conduct the shoot, they need permission from the landowner (or whoever owns the surface rights). This is where the permit comes in. They seem to be holding fast at $15/acre. So if you only own minerals, you likely won't hear from them.

They have broken their huge swath into about a dozen smaller areas, and plan to methodically work their way through each of the areas. They are working the areas one at a time, so if someone's land is in the area that will be the last to be shot, he/she may not yet have been contacted. Even if you have signed a permit agreement, your payment will not come until right before the shoot.

I know Cajun has been paying $25/acre in the western part of DeSoto Parish. But those of us in the eastern part need to find someone who was paid over $15 by Veritas, in order to execute our favorite-nation clause and get more than $15/acre.

Permalink Reply by waltcop on April 13, 2009 at 5:16

Henry, thank you for the information, and I wish you the best in obtaining your desired payment. Oh by the way, do you know if they usually try to shoot in sections before or after they are unitized?

Permalink Reply by Henry on April 13, 2009 at 11:23

Waltcop,
My understanding was that each of the dozen or so swaths I mentioned in the previous post is much larger than a section. So being unitized really isn't important. I was given the impression that they intend to cover the entire huge swath, and are just going to knock off each smaller area one or two at a time. Therefore many people have not yet even been contacted by Veritas. Only those who are in the first few areas they intend to shoot are probably being contacted now. As Veritas moves on, they will contact the next groups.

Being unitized doesn't matter (I think). The data will be useful now for those units soon to be drilled, or 20 years from now, if your section isn't drilled until then.

Permalink Reply by Ajo Hebert on July 30, 2009 at 16:10

No to all of that. The seismic companies do not test individual tracts. It may sound complicated but your property, alone, is of no interest. The seismic company agrees to survey an area. That area is measured in square miles. This one , I heard, started at 300 square miles and has expanded to over 650 square miles. They need everyones permission in order to generate an underground map of the geological formations. If you refuse then your mineral interst is cut from the underground map, leaving a hole in the data or a blank spot. It just not there. The cost are really big. It takes about $100,000.00 per square mile to gather the data. Now I have heard that if it is a spec shoot and that means the data will be sold, you can buy it for about $47,500 per square mile. That is a good price considering that you would have to pay $100,000.00 per square mile if you wanted your own survey, BUT to generate the data quality over your tract it takes about 12 square miles of data to show 1 square mile. So if you owned a 40 acre tract it would cost about $1,200,000.00 to get the data, Thats about all I know. Axe others ,the difference will probably be in cost.
ajo

Permalink Reply by lanadan Ds3 on April 12, 2009 at 22:08

In S/W DeSoto, Cajun Exploration was (is?) paying $25 per ac. I have a copy of the contract (UNSIGNED, by the way)!

Permalink Reply by Explorer on April 29, 2009 at 4:24

Cajun Exploration is contracted to CHK to do the seismic permitting. The recording crew is now on the ground so if you are planning to sign/hold out, etc. your time is limited.

Permalink Reply by Foxiecajun on July 29, 2009 at 1:44

It ok if you sign with an "X"

Permalink Reply by Martin on April 13, 2009 at 13:51

What portions of Northern Sabine Parish? South to Pleasant Hill? Down to Zwolle? Townships available?

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