We have been approached by a company here to do seismograph work on land that is already producing here in Williams County...we own both surface and mineral acres. Apparently they are searching for more formations or something. Can you give me any ideas as to whether they pay the owner for seismograph work that they do and if so, what is the going rate. If they do not pay, surely they would cover surface damage, etc, if any?
Thanks for your help.
Have you seen their contract yet? I think you ought to ask for their contract before even talking to them, because you will be able to tell what kind of people they are from their contract, just like oil companies.
Before anyone shouts foul, if you don't want to be judged by your contract, get a contract you do want to be judged by, simple as that.
We have been sent a contract. Basically it gives them "permission" to do this and they will hold US harmless from any claims, liabilities, losses, damages or judgments arising out of any seismic survey operations by them. They will pay the damages for any final non-appealable judgment rendered by a COURT of competent jurisdiction for any other physical loss or damage to the property resulting from the seismic survey conducted. They want to meet us tomorrow, so we thought we'd try to get on top of it. There is no monetary anything mentioned and we honestly don't know if it is typical to pay to conduct these or not or anything else about these operations.
More information on what the "norm" is for handling these would be appreciated. I'm not sure I like the contract thus far. I would think they would agree to damages without making a person go thru court.
Thanks for your assistance.
r w kennedy said:
Have you seen their contract yet? I think you ought to ask for their contract before even talking to them, because you will be able to tell what kind of people they are from their contract, just like oil companies.
Before anyone shouts foul, if you don't want to be judged by your contract, get a contract you do want to be judged by, simple as that.
I can tell you court would be expensive to the point that if they did not do $15,000 worth of damage you might be better off not filing a suit, if it came to that. I guess that would bring up to the point of, is it worth possibly $15,000 to have the shoot go forward? Getting them to pay something would be low on my totem pole. How much would you make at even $10 per acre? I think knowing you will not endure expense and loss overrides any monetary gain you might get from this. Of course they should pay you enough to cover your legal fees so you can get some legal assistance to help protect you from loss. That would be far from unreasonable, in my opinion.
Thanks for your help.
r w kennedy said:
I can tell you court would be expensive to the point that if they did not do $15,000 worth of damage you might be better off not filing a suit, if it came to that. I guess that would bring up to the point of, is it worth possibly $15,000 to have the shoot go forward? Getting them to pay something would be low on my totem pole. How much would you make at even $10 per acre? I think knowing you will not endure expense and loss overrides any monetary gain you might get from this. Of course they should pay you enough to cover your legal fees so you can get some legal assistance to help protect you from loss. That would be far from unreasonable, in my opinion.