3-D Geophysical Survey

   I've had a recent request from a company to perform a 3-D geophysical survey on my property located in the Ohio Utica Shale region and under an O&G lease to a major producer. Has anyone had experience with this technology, positive or negative? I've been offered a nominal fee per acre for this. Any others who've had similar proposals? The company claims to be independent, and desires to market the results to O&G companies operating in the Utica region.

   Based on experiences described by various GMS subscribers on this website, It's difficult to trust any company's stated intentions. An unfortunate fact of life.

BluFlame

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Permalink Reply by Aaron Brown on May 2, 2012 at 4:32am

Judging by posts here, this must be referencing a project known as "Firestone 3-D" seismic mapping project.  It is being done over at least parts of Carroll, Columbiana, Stark, Mahoning.  so it is decent sized and is being performed for at least CHK, possibly others, but I doubt it.  Vibratory trucks and shot holes will be used.  Geophone sensors will be placed in a gridlike pattern to record the waves from the shothole detonations.   Helicopters will supposedly be used to drop geophone and shothole equipment to the assigned area, rather than driving equipment, etc out to the middle of fields and woods to minimize surface damage (I will beleive that when I see it).  They are kind of saying $5/acre take it or leave it, and also following that up with "if we have to pay anyone else over $5/a, you'll get paid that too." aka most favored nation clause. 

Permalink Reply by Jack Straw on May 2, 2012 at 8:50am

Thanks Aaron for the information, that allowed me to research further. 

Here is a reference to the Firestone 3D mapping Project:

http://www.tgcseismic.com/972.881.1099/CURRENTEVENTS/UticaShale%20....

And, here is a second reference:

http://finance.yahoo.com/news/TGS-Awards-Seismic-Contract-iw-171532...

“This multi-client program is supported by industry pre-funding.”

So this is a “Group Shoot”. They shoot the survey for a numbers of clients, each of which shares in the total cost. Each client subscribes to participate in advance; each client will have proprietary possession of the ensuing data. The Geophysical Contractor knows how much they will be receiving before the start of the survey. This is typically referred to as a "Group Shoot".

 

OBTW 3D seismic data sells for $50,000 - $90,000/square mile.

A survey of this size and with the topography present would likely cost the clients a total of somewhere in the middle of the range - say around $65,000/square mile.

The total would be of the order of $20 million (not the $200 million earlier quoted by an unknowledgeable poster).

 

All IMHO,

                   JS

 

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