Seismic Study in Canadian County

Oklahoma Mineral Rights Canadian County, OK
1

Recently received a lease proposal ($20 per acre) for seismic work to be done on our property in mid Canadian county. The rep said the entire study is expected to cover over 200 sections and should be completed in 2017. The terms are onerous, but I am told we can add terms to make it satisfactory. Anyone else approached about this, and is there a benefit (or detriment) to us to having a study done at this point? Is $20 an acre a fair price? Anything to watch out for?

Thanks!

Ricky

2

It is proprietary to them but lets them determine the best place to site wells. But if unleased, I would be ambivalent about allowing. So long as damage is minimal and read the contract very carefully.

3

We got the same offer for one acre of work on our property