Mike Igau said:
This raises many questions. I assume you have been offered $25.00 per acre for a 3-D seismic shoot. This may entail dynamite or thumper trucks depending on the terrain. If you have improved pastures or valuable trees this may entail provisions for additional damages. If it is just brush country then this may not be necessary. The Eagle Ford Play is the hot new play these days in Texas. Do you currently have a mineral lease on your mineral interests? It is preferable to have a mineral lease prior to allowing a seismic survey. The rational for this is why would you want Operator’s to “peak” at your mineral property prior to leasing? If the seismic is not favorable then you would potentially lose out on an opportunity to lease and get a nice bonus payment. If you currently have a mineral lease, then yes, I would approve the seismic permit. The seismic permits I have approved have been usually for a one year term. $25.00 per acre has been the norm in the Gulf Coast region for 3-D seismic. This was a few years ago though.