For those of you who have agreed to allow seismic on your properties, I'm curious how successful you might have been with respect to your contract on the following terms:
1) Fee: I've seen that for the most part, the going rate that folks have been able to negotiate has been in the $25/acre range. I've heard, however, that it has not been out of the question to see $35/acre and even more for some large parcels that would not be possible to extrapolate by shooting around your neighbors property lines.
Any confirmed folks out there who did sign at $35/acre? $40/acre? $50/acre? More?
2) Anybody have luck in negotiating that your deal is contingent upon you also recieving a copy of the processed seismic data for your tract of land? Sure would be nice to have that information so as to even the playing field by knowing what is under your dirt?
3) Anybody have luck in getting the seismic company to agree that they cover your legal fees to have your own O&G Lawyer look over the contract? I believe 100% in the value of spending the $$$ to make sure you have your own interests covered by proper legal representation. That said, the $$$$ you recieve in allowing seismic can, depending upon the size of your parcel, pretty much be swallowed up by a few hours of billed lawyer time. Since you would not have required the lawyer expense if there was not a seismic request for your land it seems reasonable to me to request that these fees be paid by the company requesting access to your property.
4) Anyone successful in demanding that any disagreements regarding "fair market" compensation for any damages should be resolved through 3rd party arbitration at no cost to you?
5) I have a pretty good sense of what basic surface protections to demand in the contract, but if anyone has advice regarding any oddball addendum items to request then, well, I'd sure appreciate that input.
Thanks y'all.
Tags: Seismic, contract, permitting, rider
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