We were told that 3D Seismic Testing was started in December 2010 and it would take about a month and then 6-12 months to analyze the tests. Is this a normal time frame or are they just so swamped in the ND area that this is taking a long time? Petro-Hunt is the company we are going through. I’m a complete newbie here and don’t know any of the right terms so any corrections are welcome.
Dear Ms. Adikisson,
One month would be in the ballpark for a shoot of about 50 -75 square miles with no weather issues (can't shoot when it is REAL windy or raining) or high culture areas that would slow down productivity.
Processing time is not too long and then the interpretation time depends on many variables - staff size and commitments, wells to correlate, etc.
Thank you for your response. My mom signed a lease in 2008 and has since passed. I don’t have the actual paperwork so I don’t know how long the lease is, but I’ve seen some people complaining about being told by Petro-Hunt that they are doing the 3D Seismic Testing and then nothing is happening. I think most people who have no clue, such as myself, just assume that once the testing is done the drilling starts and the money begins to flow. Now I’m beginning to understand that there might be a whole lot of steps before (and if) any drilling is actually done.
I have a 1/8 interest in 5000 + acres of mineral rights in Fallon County, MT (by Carlyle, Montana) ... not far from the ND line. We have also signed with Petro Hunt for the exploration lease. To date they have not begun testing in our area. I was told by Petro Hunt that they were going to test in six townships in the area over a 3 year period. Just to set the stage for my answer here is the size of what Petro Hunt was trying to put under exploration:
Sections. Townships are subdivided into 36 parts, each one mile square, called sections. Such a section would contain 640 acres.
So ... 6 x 36 x 640 = 138,240 acres they are trying to map. This could take a while. Once they have the data they will pick and choose where and what to drill sooner rather than later. This process could take a while and it may not be worth drilling on. Only time will tell. Best of luck to you!
Thanks for your explanation. I’ve been reading as much as I can about mineral rights and trying to understand how it works. You and Buddy Cotton were really helpful. We have mineral rights in both Golden Valley & Wibaux so hopefully in my lifetime we will see something come of it. If not, the kids & grandkids might benefit. Thanks again.