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Permalink Reply by jimmy jones N3 on July 5, 2009 at 10:58

What parish do you live in olivia? just curious where the seismic is going on.

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Permalink Reply by Olivia on July 5, 2009 at 12:35

The land is in DeSoto & is leased by Petrohawk. Veritas told me that they would be going through large areas at a time. We got a call the day before they went through so we'd have a heads up, so if you're waiting for them to get to your land they may call you first.

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Permalink Reply by Mac Davis on July 5, 2009 at 14:23

Do you mean the day after blasting or vibrating trucks, the company sent an offer?

Does anyone get results calculated that quick, or does it take time to crunch the data and get results?

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Permalink Reply by Big Daddy, bcnr on July 5, 2009 at 14:30

My thoughts exactly Mac. I'm not a geologist but Id bet it would take more time than that to analyse the results of the shoot. My guess is Olivia's offer came from one of the many "we wanna buy your mineral rights" companies. I'd guess the timing is coincidental.

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Permalink Reply by zrdc06 on July 6, 2009 at 10:18

Actually guys ... it takes a LOT longer to analyze the data. Just because they have finished shooting in your immedaite area doesn't mean that the enitre survey is done. The data then has to be shipped to a processing center where it could take 2 or 3 months just to process the data. Then ... the data is returned to the O&G co. geophysicist and he/she will then interpret the data before making a call on what the data is showing ... so ... in all likelihood it was just a coincidence.

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Permalink Reply by wpt9452 on July 5, 2009 at 14:27

I am 5 miles north of Desoto Parish and I got two offers to buy half my mineral interest, $5,000 and then $6,000. A week later a rig popped up a half mile from my house in my section. I know these people must have some inside information. I threw the letters in the trash. One was from an oil company in Texas and the other from South Louisiana. This was all done before they finished the seismic testing.

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Permalink Reply by Mac Davis on July 5, 2009 at 21:38

If a rig popped up the next week, it had probably already been permitted with the state. "Inside" information, but theoretically public information you could find out from the state.

My feeling is that almost any offer to buy your mineral rights is going to be a ripoff, especially if it's a form letter in the mail type. There would be a "fair" price for your mineral rights, but I doubt any unsolicited offers will be a "fair" price.

Does anyone know how long it takes for a permit to show up in SONRIS after a permit is issued? How long does it take from filing for a permit before it's granted? Can you find out that a permit has been filed, but hasn't been approved?

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Permalink Reply by Olivia on July 5, 2009 at 23:58

We agree with y'all that the offer is a rip off, but I confess that I was hoping the offer meant something. Ah well, I guess it was coincidence. We'll have to stay broke a while longer... My father-in-law did seismic testing years ago in AR and he said that while they know sort of what they're looking at as it happens, it still takes a while to get the official results. What I'd like to know is not just who got permits, but can we get a copy of the results of seismography for our own land. Technically they belong to the company that does the survey, but I wonder if there is a record somewhere we could see. Does anyone know?

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Permalink Reply by king john on July 6, 2009 at 3:03

olivia, the data collected by the companies is for sale to the highest bidder as i understand it. in some cases operators may have expressed intrest prior to the shoot, and there may be some pre-arranged agreement. even if the surface/ mineral owner reserved the right to access the data unless you are a trained tech. chances are you would not be able decipher the data anyway.
in regard to offers being mailed out, i can tell you this from my own experience. soon after receiving offers for various tracts, three out of three, there was a very good well to follow. as best i can figure they must have some eyes and ears in the field to cue them on where and when to make offers. hope this info helps you out.

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Permalink Reply by The_Baron on July 6, 2009 at 3:07

Olivia,

These offers are typically mass mailings. They may have done reaserch to find areas that are leased, but are not being drilled yet. Many of these offers are negociable. They may be willing to pay a higher price.

You can also sell part of your royalty. This way you keep control over your minerals.

There have been many discusions at length on this site, try looking deeper here and you can find some interesting conversations. Also Dion Warr has written a nice blog on selling minerals and royalty, I suggest starting there.

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Permalink Reply by jffree1 on July 7, 2009 at 5:44

Here's a link to the latest press release from CGGVeritas regarding their current activity:


http://www.oilandgaspress.com/wp/2009/07/07/cggveritas-records-firs...

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Permalink Reply by The_Baron on July 7, 2009 at 10:01

You can sell minerals. You can sell royalties. Being leased or unleased is not the issue. Read the following blog.

http://www.gohaynesvilleshale.com/profiles/blogs/minerals-and-royal...

You can always sell your minerals. if you are already leased the sale would be subject to that lease.

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