I got contacted by an oil company for an easement because their Vertical Target on a well outside of our land landed there. I would like to know what Vertical Target and Penetration Point mean. Also, what is the going rate on 2 acres of land they need.
I believe that penetration point is used with its common meaning. Vertical target I believe is talking about the target depth from which they intend to produce. Probably the drill bit wandered far enough off course that the operator can’t just ask the state to say it’s okay.
I would definitely seek professional help in negotiating as I feel they would gain you much more than the cost of their fee.