EOG is interested in purchasing my property for the sole purpose of building a frac water pond and drilling 2-3 wells to supply it. I suggested keeping the property and leasing out an area to do this. Has anyone had dealings with EOG, or a different oil company, in this type of venture and what was the outcome? Also, at what rate was you compensated for the water used? Thanks!
With no more information than you have given I wouldn't want to sell. The water could be worth more than the land. If they own the surface they might also get the maximum usage out of it by later drilling a salt water disposal well. You are dealing with an oil and gas company, they say the sole purpose is the water but who is to say what they will do with it after it is theirs? I think you should at least reserve the pore space, since "ALL" they are interested in is the water. Good luck.
Location? Big difference in water prices if you are in Odessa versus New Orleans.
I own a commercial water station.
We pay the land owner where the pit is located 1/6th. of all water sales.
If you want to discuss call me at 4326973018