Geophysical survey contract terms/ Roosevelt County

Joe_Maglitta · July 9, 2012, 4:08pm

Hello all. Great to discover this group. I am a newbie helping out my elderly mother in law. Please forgive in advance any dumb questions.

Got an offer recently from Global Geophysical Services to conduct 3D survey as part of Round Prairie. Landman Wally Jackson seemed helpful.

Two question for this group:

1) Rate: They are offering $5 an acre for 435.72 acres = $2,178.60. Is this standard/fair?

2) Liability: Contract includes what I assume is standard language about Global holding owner/grantor harmless against any suits, damages, etc. (but not tenant farmer). Initial payment, they say, covers normal wear and tear. Any other damages caused by survey beyond that will be paid to grantor. Again, standard and fair?

I was wondering if we need to look out for protection for the tenant. Contacted a lawyer in Wolf Point but she wanted $250 to review 1-page doc so I thought I'd start here. :)

A PDF of blank agreement is attached.

Roosevelt County Plots are:

S27, T30N, R57E, E2SW, NW

S34. T30N, R57E. NENW

S30, T30N, R58E, NW

Any insights greatly appreciated. My 90-year-old mother in law is eager to get resolution, so any help appreciated.

Thanks and Best, Joe

2805-result_747162670.pdf (1.87 MB)

charles_s_mallory · July 9, 2012, 5:36pm

Joe:

I am not familiar with the going rate for seismic work in the Roosevelt County area but maybe someone who has had a recent experience can help. I would definately contact an attorney in regards to the language in the contract as it seems very vague. Just remember, when you sign on the dotted line, if things go awry, it will be extremely expensive if you have to take the company to court.

B_Volney · July 9, 2012, 10:10pm

Joe, A quick glance and I see " In the unlikely event (ect) cancelled or moved this contract will be null and void" Does this mean you have to refund the money they paid you? I think Mr Mallory is spot on about the lawyer looking at it..... My two cents... Brian...

r_w_kennedy · July 9, 2012, 11:18pm

Joe, I posted on a blog "The Geophysical Option-and it's misuse" to bring it to where you can find it. I knew it was around somewhere although it did not show up in the blogs. I found it interesting and I think you might also. Possibly the blog had been deleted so it didn't show up.