My property is right of off FM 140 and CR 341. I was contacted by letter and asked for permission to do a seismographic survey on my property.
What is the going rate per acre for fair compensation?
How long should this survey take to ;
1. set up?
2. complete?
What else should I ask for in this agreement?
Also, are there other companies the might contact me to do the survey or is this company the only one assigned by the oil company? I don"t want to say yes only to be offered more by another company.
I received the same letter. I was told that the survey would not start until the Spring of 2013. They are offering me $15 per acre. I got them to include my entire land tract for compensation instead of their proposed portion of my land even though they will not be on the entire tract. I am interested to see if anyone has been able to get say $20 or $25 per acre? I am still in negotiations with them right now. They are going to clear lines on your land to send a "thump" truck through there. They will not be cutting any fences or anything like that.
Our lease with EOG had a price of $15 per acre, however, a few days after signing the EOG lease I received a letter from Shaw Land Services who had been hired by EOG to survey our land. The letter stated they would pay us $20 per acre. I signed the lease and have received payment of $20 per acre.
We agreed to a similar survey on our property in 2010 (2 miles South of Jourdanton) and successfully negotiated $29 per acre with the help of legal cousel...almost double their initial offer.