Wednesday, December 16, 2009

Where can I find a geological surveyor to survey my land for oil?

I own the mineral rights and 250 acres in North East Oklahoma. How can I find a surveyor to do an initial survey. I want to foot the bill for the survey and exploratory drilling so I get the majority of the profits if we find oil. I can foot the bill for 50K or so before I will need any help. Where can I find a geological surveyor to survey my land for oil?
You could do some research about the rock formations in your area. This can be done at the local USGS or state geological survey. Least you could find out if the right sedimentary formations and cap rock exists under your property.





The next step would be to have a geologist interpret the area to find the best place to drill. Idealy you want to drill over a mound or upward bend in the formation where petroleum is likely to concentrate or pool in fractures.





The only way to know for sure is to drill a ';wild cat well'; and hope for the best.





As far as a specific surveyor Oklahoma has quite a few wells, I'm sure the advertise. Or most drillers and surveyors have some license with the state geologic survey. Can ask them for one near you.


Where can I find a geological surveyor to survey my land for oil?
I live in Alberta, Canada and also have mineral rights (from my grandfathers homestead). I'm also a semi retired geologist (29 years experience in oil and coal)





I have leased my land out for the last 10 years (2 x 5 year leases) but no well has yet been drilled. I negotiated a 17% royalty if it was a producer.





Since I retired from my job I have had some time to look closer at my lease. The surrounding wells, the exploration activity and history (especially the company that has leased from me), the pipeline activity, and most importantly the geology. I'm glad I did.





My lease expires in Sept and with my better knowledge I am in a much better position - ignorance isn't bliss. My lease looks veryattractivee. I will either negotiate a much higher lease and royalty rate or shop my lease around to competing companies. I have even considered drilling my own well. Wells cost about $250 K in the area so I would look for investor and other companies to ';farm in';.





Sothat'ss my experience - you are on the right track - a geological ';look see'; is a very prudent decision. I'd be willing to help get you started - nowadays their is so much data available on-line. Drop me an email.





ps I took a quick look at the Oklahoma Geological Survey - they have a wealth of free data - let me know your county and I'll take a deeper look for free.

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