Does anyone know what the going rate for seismic testing is for Madison County or even for the state of Texas? Is $15/acre pretty standard?
Uh, uh.... I used to work for Teledyne a long time ago, while waiting for something else to come along.
This was1972. On land seismic shooting would cost approx $100K/acre. That was 1972 dollars, which we all know has diminished in value to only a few cents today of what they were worth back then.
One successful driller in Madison County that is a publicly traded company paid several hundred thousand dollars for their acreage. I know they had way more than a thousand acres and it could have been as much as a many more times that amount of acreage. "Three D" is expensive but well worth the dollars as it helps define the best place to drill.
If you can help it, its best not to do seismic options in my opinion, with some exception. 15$ is pretty close, i think 10 used to be standard
Ferguson said:
Hello all.
I joined the forum a year ago, but this is the first time I'm posting. I'm curious about seismic surveys in Madison County also because CGGVeritas contacted me recently and offered $15/acre for 3D.
I did a little research and my understanding is that for 3D testing, three inch diameter holes are drilled from 20 to 50 feet in rows approximately so many feet apart (100ft - 200ft ?). The rows are parallel so many feet apart in the opposite direction (imagine some kind of grid). Then they fill each hole with about two pounds of ammonium nitrate explosive and they use geophones to record the sonar waves when the explosives are set off. This only raises a lot more questions such as how this can affect a water well or animals in the area.
I found these two links that help explain some of this: http://www.wvsoro.org/resources/advice/advice9.html; www.loga.la/flash/HS/kevinhillLSUS.pdf (A Seismic Oil and Gas Primer by Kevin Hill).
I need more information before I decide what to do, but if anyone else has comments or information that might be helpful, it would be greatly appreciated.
We have given CGGVeritas a counter offer of $25/acre. That was 2 weeks ago and we have not heard back. Know several in area have signed for $15 without negotiation.
Lena Truster said:
Ferguson said:Hello all.
I joined the forum a year ago, but this is the first time I'm posting. I'm curious about seismic surveys in Madison County also because CGGVeritas contacted me recently and offered $15/acre for 3D.
I did a little research and my understanding is that for 3D testing, three inch diameter holes are drilled from 20 to 50 feet in rows approximately so many feet apart (100ft - 200ft ?). The rows are parallel so many feet apart in the opposite direction (imagine some kind of grid). Then they fill each hole with about two pounds of ammonium nitrate explosive and they use geophones to record the sonar waves when the explosives are set off. This only raises a lot more questions such as how this can affect a water well or animals in the area.
I found these two links that help explain some of this: http://www.wvsoro.org/resources/advice/advice9.html; www.loga.la/flash/HS/kevinhillLSUS.pdf (A Seismic Oil and Gas Primer by Kevin Hill).
I need more information before I decide what to do, but if anyone else has comments or information that might be helpful, it would be greatly appreciated.
I got $15 per acre in 2007 in northwest Houston County (six miles west of Grapeland). If you haven't signed I may have some clauses you can use. I am trying to find a contact for an agent representing CGG Veritas and Dolphin.