3D seismic survey. Good or bad idea for unleased landowner?
Recently contacted about wanting a 3D seismic survey on my land. We are currently unleased. This seems like a large gamble on the part of the landowner in regards to anticipated leasing. I would appreciate anyone's input concerning this situation. Thanks
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Replies to This Discussion
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Permalink Reply by shelby on
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Jay,
Reading your response to KB; if the shale is known to be consistent by the nature of its' formation, then why would the oil and gas companies leave 3 sections of know production volume on the table? What am I missing?
Shelby
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Thank you Jay,
I hope that "one" spot ain't in South Desoto! Your opinions are always appreciated.
Shelby
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landownerPermalink Reply by keb on -
Jay, I'm still learning;so, am I understanding you to say "don't allow" seismic testing in case nothing is there? and we should make the deal first?
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landownerPermalink Reply by Tom Bennett on -
Jay, back in the mid 80s I allowed a seismic crew on our property with the condition I be sent a copy of the results. They agreed and sent me what looked like a computer log, or simular to a bar code log. Can that be read today, and by who? Also this was most likely before the 3-d so would it have any real value?
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landownerPermalink Reply by Prosperity on -
I was also contacted to have a seismic survey done on my land. It is being reqested my Total Explorations on behalf of Buesa energy. This a 2D survey to be done in section 28 township 12 range 14. I have 40 acres that I have not leased out yet can anyone give me any advice.
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landownerPermalink Reply by keb on -
we too have been contacted by two diff. co's to do 3D seismic surveys; one was form Cajun Exploration L.P./chesapeake for $25.00 per acre (total of 449.00) stated in the letter it said.."this is only to grant permission to view and does not in any way constitute a sale of these minerals.
the other co. was PGS onshore, Inc. would pay rate of $150.00 per shothole multiplied by our interest? what does that mean? Judging from previous comments i can see I don't know whether or not to allow this procedure...HELP! we also rec'd letter from Phillips Energy 6/19 offering $4000 per acre for all of our mineral rights, then another letter from them in 7/29 stating they would purchase our mineral rights for $7,750 per mineral acre. They thought we only had 3 total acres. We have almost 18 acres in Section 5, T12N, R15W....any help please!
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landownerPermalink Reply by P.G. on -
Is that lease bonus or is it to purchase mineral rights? I'd want a heck of lot more than that for minerals rights.
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landownerPermalink Reply by keb on -
yes, it stated "purchase your mineral rights!" No way, we're not stupid.
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landownerPermalink Reply by keb on -
msfva,
could you furnish me proof that in our region lease bonuses are running around $20k/acre? I'd love to get some facts!
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landownerPermalink Reply by insomniacnla on -
Jim,
If keb is receiving the same letters I am from Phillips Energy (blue and white letterhead), their letter states their office is in Shreveport, downtown I think.
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