We had a man come to our farm today and wanted us to sign papers to let them do Seismic testing on our farm. The mans name was Mike Allstead from SEITEL, out of Monaca, PA. He offered us $5.00 per acre on our 76 acre farm. They want to dig 40 3 inch round holes , 30 ft. deep, put blasting powder in the holes . ( My Husband talked to the man, I was not here) He told the man he needs to talk with me. I am to call him and set up a time after the Holidays to sign the papers. The man needs to come back and draw where the buildings and ponds are, on our property. Has anyone else been aproached by this company ? ANY information would be appreciated ! Not sure what to do ? Confused..... Many Thanks in advance for your information !
I am pleased to learn that Seitel have taken your needs and concerns into account; they were all valid and merited respect.
I do not know whether your property is leased; or if leased, to whom. And if leased, what the terms of that lease might be with respect to pooling/unitization. And really not my business.
Allowing seismic data can increase the likelihood of being included in a unit; should that be your desire.
The availability of subsurface data allows an O & G Operator to proceed with greater confidence, and that confidence can mean that a unit is drilled, and drilled sooner rather than later.
There are those who would caution that the seismic data can discover faulting that will condemn a property; it is my opinion that should something such a fault be discovered, there is the potential to locate a pad such that the fault is avoided. It is to neither the Landowner nor the O & G Operator’s advantage that a poor well be drilled, not when a more optimal location could be planned.
Again, good luck.
Jack, Thank you again for your help ! I put everything you say into this old brain of mine. I leased with Chesapeake in August,2011. 5 year lease with 5 year option. I am still saying prayers that all goes well with no problems. Our farm means everything to me and my Husband. We are retired and enjoying our animals. I am still learning and trying to do the right thing to keep all safe as we can. Craig and Fang have also been a great help to me. I learn so much from the 3 of you, and others too ! May God Bless you and keep you and your land safe as I wish this to all ! So glad to have you in my life. Your knowledge is so welcomed ! Nancy, Daniel and Our Critters
Jack is exactly right, once again! I have seen the seismic printouts for South Beaver. There is a good sized fault running right across the border of one of my properties. Guess where the horizontal is planned to stop for the nearest well.... yep, right there near the fault at about a 50 degree angle to the fault.
Jack, We really do appreciate what you bring to the table here.