Every week, month, and year is different. This week presented the visit from an oil exploration company, which ran seismic trucks over our wet no-till fields, which they weren’t allowed to do. They did it anyway. We had specifically stated in the contract that any permanent damage done to the soil they would fix. They did not want to. Marty therefore had to enter litigation and stand up for his rights as a landowner…reminding them of the contract. For non-ag readers, the cost to fix the terraces would be significant. It would have cost us $10,000 to repair the damage ourselves on this one farm. They ended up contracting the labor to repair the field.
The point to share is although there may be benefits to these opportunities; there are also snags that you must be aware of in terms of oil exploration contracts. For those of you who may not know, it differs from landowner to landowner, lease to lease. You really have to have knowledge of how these companies work (each one has a different level of reputation). One may try to work you over, while the other may really go an extra mile to honor the landowner’s requests, as long as it’s in the contract. In the past couple of years, we’ve had a couple experiences that have taught us both positive and negative.
This is our first farm. The terraces as you can see have been damaged by trucks running right over the middle of many through this field.