Replies to This Discussion

Permalink Reply by Rock Man on January 31, 2013 at 9:58

Is this leasing or just permitting to shoot seismic? Sounds like the latter.

In any case, it is a good sign that a company wants to shoot 3D here. Wonder who the actual 3D acquisition group is? Cougar is just a land agent doing the permitting more than likely

Permalink Reply by tony allen on January 31, 2013 at 10:06

It is just a permit for the seismic shoot. Cougar said they were working for themselves but you know that is false. What would be the cost on a project like this?

Permalink Reply by Skip Peel - Mineral Consultant on January 31, 2013 at 11:59

About $85K per square mile.  Around $17M for the 200.  For an area of that size there could be more than one client.  I heard a report yesterday of landowners receiving offers to approve seismic and execute a lease as one deal.  I don't know if this is the same company/shoot but it is unwise to combine permission to perform seismic with an O&G lease so be cautious.  Generally I think there is nothing wrong with granting permission for a shoot as long as there is adequate damage language in the agreement.

Permalink Reply by Jon on February 12, 2013 at 12:16

Geokinetics is the company Cougar is working for.  They are doing the Seismograph Survey.

Permalink Reply by tony allen on February 12, 2013 at 13:36

Jon, Do you think Geokinetics is the money behind the survey or are they just the operator conducting the shoot for someone else?

Permalink Reply by Skip Peel - Mineral Consultant on February 12, 2013 at 13:42

Geokinetics is the seismic company.  Cougar is the land company hired to get the seismic leases.  The client or clients behind the shoot will remain anonymous.  Unless however this is a spec shoot.  That happens infrequently but considering the number of companies invested in leasehold in this general area, it is possible.

Permalink Reply by Jon on February 12, 2013 at 17:40

Tony

The landman told me that they were doing the survey to sell to oil companies.  Sounds funny to me since my property is already leased to AIX.  But I have  no expertise or experience in these matters.  I just think it probably is good news that someone is spending, most likely, a large sum of money on this 205 square mile  survey.

Permalink Reply by Skip Peel - Mineral Consultant on February 13, 2013 at 4:43

Jon and Tony, that sounds like a spec shoot.  If an energy company was paying for a shoot of approximately 200 sq. miles it would cost them somewhere around $17M.  I have no idea what the raw shoot costs would be but let's say it was half.  For a $8.5M investment the seismic company would make a $8.5M profit one time as the client(s) would own the results. 

For the same investment the seismic company would own the results and could sell all or a portion of the lands imaged to multiple clients.  And probably make a much greater profit.  It would be a risk but one that could pay off if there is sufficient interest from energy companies.  IMO if this is a spec shoot Geokinetics believes there is exploration interest beyond the L SMK.

Permalink Reply by Big Little Oil on February 1, 2013 at 3:13

http://http://cougarlandservices.net/about

Permalink Reply by tony allen on February 5, 2013 at 14:17

They are calling it the Millerton Project and it is 205 sq. miles.

Permalink Reply by Rick on April 22, 2013 at 16:07

Geokinetics through Cougar Land Services has requested access to my property for the Millerton 3D seismic survey.  Offer is $15 / acre.

Permalink Reply by Craig Wascom on May 7, 2013 at 13:38

I hear Dawson Geophysical is headed that way to do a 3D.

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