I had a company come to me today to sign a lease for seismic testing. They want to pay $5 an acre and they wont pay until they come onto the property. What should be my concerns and items I should list on the lease if I decide to sign one? I have about 40 acres, cement bridge to access the property with a few buildings and campers on the land.
Lori, they are paying $15 per acre in La.
Thank you Tony.
I have also been contacted twice by McDonald Land out of Youngwood, PA. I have not given permission as no oil and gas company has offered a lease....so why test the area? $5 an acre will not cover the damages the survey company can do to your property...read up on how they do seismic testing and you'll understand what I mean. If a company offers you a lease you will be well compensated ahead of time; not when they show up to test. Just my thoughts...