Geological Surveys

I have been approached by a geological survey company (TGS-NOPEC) who want to drill some holes on my land..... Do they compensate for that and how much do they pay per hole? Any one know? They drill down 30 feet and blow up a small explosive charge while they record data on underground formations? I don't have details yet. The rep is coming tomorrow afternoon to discuss particulars with me..... Any feed back appreciated........ 

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Permalink Reply by TM on April 7, 2014 at 7:19pm

They will probably pay you $5 to $10 an acre to do the testing. This shoot will be for 3d seismic testing.

Permalink Reply by searcherone on April 7, 2014 at 7:43pm

I learned a few weeks ago in an oil  and gas meeting for landowners that when these companies sell the results of the 3D testing they charge the oil and gas companies 40,000 per acre for the results. I was amazed!   Keep that in mind when someone wants to give you five and ten dollars an acre.  Remember your property is the starting point for all of the income for these companies. Without you and your property they have nothing.

Now if you have a lease and it says they can do seismic testing then you will have to follow the lease language.

Permalink Reply by Keith A Williams on April 7, 2014 at 9:50pm

Searcherone,

I looked at the Evans site:

We have data in more places than would ever fit on a web site, but, We do offer as a FREE service to our prospective and existing clients, a search of all up-to-date seismic data on any area. This timely service can reveal newly released data that could save your company thousands of dollars. Our personal data search services provide you with shot point maps, section samples, parameters and price information. When lines are brokered, film sections, tapes and support data are made available to you. Prices range from less than $1000 to $3600 per mile for 2D data.

The prices are quite a bit less and are for "MILE" of data not per acre. 40K per acre. No way!

IMHO

Keith

Permalink Reply by evan on April 7, 2014 at 7:43pm
They are paying 5 an acre. Talked to them this weekend. Not sure if I'm going to do it yet or not. I gotta talk to them again
Permalink Reply by Fatboyslim on April 7, 2014 at 7:59pm
Make sure they fill holes when done
Permalink Reply by evan on April 7, 2014 at 8:04pm
I have a lease that allows chk to do this. Anxious to see how his works out then. I'm already In a unit and drilled also so can't figure why they still want it
Permalink Reply by lance on April 7, 2014 at 8:06pm

5,000.00 an acre?

Permalink Reply by Sawdust on April 7, 2014 at 8:31pm

Five dollars / acre, Lance, not five thousand.

Precision Geo. did my 80 acres last year. They were polite and considerate.

Permalink Reply by Bill Barnaby on April 7, 2014 at 8:35pm

5 for you to help them make 40k an acre.....if that's true, what a deal lol

Permalink Reply by Sawdust on April 7, 2014 at 8:52pm

Artex hired Precision to do the testing here in our area, then they have the sole rights to the info. They can sell info to other co,s.  This is what I was told, fwiw.

0i7okn54zwbdoPermalink Reply by 0i7okn54zwbdo on April 8, 2014 at 8:58am

Seismic isn't worth $40,000/ac.  That's the most ridiculous thing I've ever heard, and I've heard President Obama speak.  Where do you guys get these numbers?

Permalink Reply by searcherone on April 8, 2014 at 8:01pm

Dale Arnold, Ohio Farm Bureau  is the source of that info.

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