Fair rate for seismic lease?

What do you all think is the going rate for seismic testing? DAS offered me 5 bucks an acre. Isnt it worth more to them to get valuable information? The wire they use to connect the explosives cost more than that.

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2pwt9ru4672sqPermalink Reply by 2pwt9ru4672sq on July 26, 2012 at 3:18am

Rick,

I'm not purporting to say it's "fair", but $5.00/acre is what I have seen paid in NE PA.  Typically the seismic crew is only on your property for a day or two to string wire, drop geophones, drill shot holes, etc.  Depending upon the size of your parcel the seismic crew can sometimes skip over your property without affecting the quality of the data that they obtain.  If you have a larger piece of property that isn't generally an option for them.  One thing to consider is that if you aren't currently leased, the data may promote interest in your property, or if the data were considered to be negative, it could lead to you never getting a lease offered to you. 

Permalink Reply by Mike Knapp on July 26, 2012 at 5:04am

$5 per acre is the industry standard.  I haven't personally seen anyone get more than that, and we've never got more than than on our properties.

Permalink Reply by Josh Willis on July 26, 2012 at 6:42am

Global is offering 10 dollars in Ohio. I think too many people turned the 5 dollars down

Permalink Reply by DONALD MCNAUGHTON on August 17, 2012 at 7:00pm

DO NOT TRUST THEM THEY LIE AND LEAVE TRASH ON YOUR PROPERTY. THEY WILL SAY YOU SHOT AT THEM AND NEVER FILE A POLICE REPORT. THEY HAVE PEOPLE TRESSPASS ON YOUR LAND AND WHEN YOU STOP THEM AND ASK FOR ID THEY HAVE NONE. THEN THEIR HIRED GUN CONSTABLE COMES OUT AND AN REFUSES TO GIVE YOU THEIR ID. DO NOT BECOME INVOVLED WITH THEIR LAWYERS BECAUSE THEY PUBLISH INFORMATION THAT WAS AGREED TO BE KEPT PRIVATE IN A LEGAL JOURNAL.

Permalink Reply by Frank Nesmith on August 26, 2012 at 5:21pm

Mike, You are a land man, so I hope that's an honest number. $10 is more like it.  I know people that got a heck of a lot more. Maybe that's because your company just does vertical wells.  I don't know, but $5 is highway robbery. These people are giving up their land for somebody to blast holes in it. 

Permalink Reply by jason smith on July 26, 2012 at 5:32pm
In Texas in some places I read they were receiving $ 50 per acre.
Permalink Reply by Rick on July 27, 2012 at 3:38am

I wonder how much the gas and oil companies pay to purchase the info from the seismic company. I would think $50 to $100 would be about fair the the landowner, seeing how much money will be (not could be)  made by the gas and oil company. BY the way, I am HBP to an old well that still produces a little. So there isnt an expense of a lease signing bonus.

Permalink Reply by Janice L. Hancharick on August 6, 2012 at 7:38am

Rick, and any others out there w/an old lease.  Penn State is presenting a meeting on August 13, MONDAY, @ 6:30 PM in Meadville,PA that could be useful to you.  It's being held @

Allegheny College Shafer Auditorium

520 N. Main St.,  Meadville, PA 16335

Many owners of old leases are now being approached to have their leases amended (altered) in order to meet unit size standards, and allow other conditions favoring unconventional shale production to be placed into their leasing documents ... but they are not aware nor being informed of the their options by the company agents.  The thrust of this workshop is intended to help landowners currently under lease to understand what their options are if Uncoventional Shale production is being considered.

Please RSVP by Sunday Aug. 12th if you plan on attending. 

The email address: ExtensionCVENT@ag.psu.edu  

With Meadville located near state lines, don't let your address stop you from attending.

Permalink Reply by Jack Straw on August 6, 2012 at 7:47am

Janice, there are likely many who would love to attend, but canot attend (for a variety of reasons).

I count myself amongst those interested, but not able to be there.

It would be very much appreciated if you (or someone else) could be so kind as to post a review of the most pertinent issues/information that come up at the meeting.

If there is printed information handed out, it would be appreciated if this information could be scanned and posted - or a link provided to where this information might be available.

Thanks in advance for any assistance.

 

JS

Permalink Reply by Janice L. Hancharick on August 6, 2012 at 8:37am

Hello Jack!

I am following it closely, and am encouraging PSU's Outreach Center to conduct similar programs throughout northwestern and northcentral PA .  As more info becomes available, I'll post it.  A link to the event on AUG. 13th  ... Shale Gas: Already Leased is

   http;//agsci.psu.edu/shale-lease-options/meadville      

Permalink Reply by Jack Straw on August 19, 2012 at 6:49am

Hi Janice,

                 Were you able to attend the meeting of Aug 13th in Meadville?

I would have loved to have been there, but my situation is such that it was impossible.

If so, could you prehaps be so kind as to comment on what you think to be the most valuable points that might have come up in the meeting?

I suspect that there are quite a few individuals who are in the position (or will be in the position) in which they are asked to modify a lease to allow for a larger unit size.

Any information or contacts you could provide would be of help.

 

Best regards,

                         JS

 

Permalink Reply by Janice L. Hancharick on August 22, 2012 at 3:52am

Jack, I'm currently working w/PSU to bring the content of the Meadville meeting to northcentral PA and NY's Southern Tier.  A loaded calendar means the parties involved won't be available for seminar(s) till mid-November.  As soon as the date(s) are nailed the word will go out through multiple sources.

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