Hi all,
I just received a letter from a company in Southern Oklahoma wanting to conduct a seismic survey on my property. They say they will pay 10.00 per acre and have sent a 1 page letter stating that they will not tear up the place. Is this a "reasonable" amount of money per acre and should the contract say anything in particular to protect me as the surface owner? I am not the mineral owner on this particular piece of property, but am concerned.
Thanks for your input. You all are very helpful.
Mary in Oklahoma
Dear Ms. Hope,
A one page letter prepared by a permit agent could not possibly protect your rights.
Do you have water wells on the property, by any chance?
Mr. Cotten,
Yes, there is a water well but my primary source of water for the cattle is stock ponds. So, what would you recommend me do with this 1 page letter? Do I need an attorney?
Thanks for your reply.
Mary Hope
Buddy Cotten said:
Dear Ms. Hope,
A one page letter prepared by a permit agent could not possibly protect your rights.
Do you have water wells on the property, by any chance?
Best,
Buddy Cotten
www.cottenoilproperties.com
Dear Ms. Hope,
If it were me and I felt as if I needed superior protection for my well, property and land, I would certainly hire aa professional whom I trusted.
In many cases, when the shot is completed and damage is obvious, they are hard to find.
Mary Hope said:
Mr. Cotten,
Yes, there is a water well but my primary source of water for the cattle is stock ponds. So, what would you recommend me do with this 1 page letter? Do I need an attorney?
Thanks for your reply.
Mary Hope
Buddy Cotten said:
Dear Ms. Hope,
A one page letter prepared by a permit agent could not possibly protect your rights.
Do you have water wells on the property, by any chance?
Best,
Buddy Cotten
www.cottenoilproperties.com
Mr. Cotten,
Pardon my ignorance in these matters, but when you say professional, are you referring to an attorney or a land man? Here in Garvin County land people are few and far between. I guess I could seek someone from Oklahoma City but otherwise, there are really none that I am aware of. If they are out there, I'm going to have to find them.
But, yes, I am concerned about the welfare of my property as well as the old addage, 'never take the first offer'. Which is why I figure 10.00 per acre is "rock bottom".
Do you do any work here in Oklahoma?
Buddy Cotten said:
Dear Ms. Hope,
If it were me and I felt as if I needed superior protection for my well, property and land, I would certainly hire aa professional whom I trusted.
In many cases, when the shot is completed and damage is obvious, they are hard to find.
Best,
Buddy Cotten
www.cottenoilproperties.com
Mary Hope said:
Mr. Cotten,
Yes, there is a water well but my primary source of water for the cattle is stock ponds. So, what would you recommend me do with this 1 page letter? Do I need an attorney?
Thanks for your reply.
Mary Hope
Buddy Cotten said:
Dear Ms. Hope,
A one page letter prepared by a permit agent could not possibly protect your rights.
Do you have water wells on the property, by any chance?
Best,
Buddy Cotten
www.cottenoilproperties.com
Dear Ms. Hope,
When I refer to professional - yes, I do mean either attorney or landman. Just as an attorney does not have to be a resident of your county to give good advice, neither does a landman. Attorneys give legal advice. Landmen should give business advice.
There are some situations where attorneys are the clear choice, even if they are not the most cost effective.
Mary Hope said:
Mr. Cotten,
Pardon my ignorance in these matters, but when you say professional, are you referring to an attorney or a land man? Here in Garvin County land people are few and far between. I guess I could seek someone from Oklahoma City but otherwise, there are really none that I am aware of. If they are out there, I'm going to have to find them.
But, yes, I am concerned about the welfare of my property as well as the old addage, 'never take the first offer'. Which is why I figure 10.00 per acre is "rock bottom".
Do you do any work here in Oklahoma?
Buddy Cotten said:
Dear Ms. Hope,
If it were me and I felt as if I needed superior protection for my well, property and land, I would certainly hire aa professional whom I trusted.
In many cases, when the shot is completed and damage is obvious, they are hard to find.
Best,
Buddy Cotten
www.cottenoilproperties.com
Mary Hope said:
Mr. Cotten,
Yes, there is a water well but my primary source of water for the cattle is stock ponds. So, what would you recommend me do with this 1 page letter? Do I need an attorney?
Thanks for your reply.
Mary Hope
Buddy Cotten said:
Dear Ms. Hope,
A one page letter prepared by a permit agent could not possibly protect your rights.
Do you have water wells on the property, by any chance?
Best,
Buddy Cotten
www.cottenoilproperties.com