My company purchased oil fields from Exxon, Shell and Unocal near Norco, LA, near the spillway, right on the river, about 5 years ago. Shell was cheap, they could have been on the dry side of the levy, but they didn't want to chip in.
There is a seismic crew out there now, if they open the spillway it'll really slow down their work.
Last major Gulf Coast salt dome never to have a seismic survey.
Unless 'The Heights' neighborhood in Houston is a salt dome. Our geologist lives near there, has seen topo maps, and is pretty sure it is. If only people wouldn't object to drilling in their neighborhoods.
My sister got a $400 bonus for a third an acre of land and a 20% royalty on her share of production in Euless, Texas, outside Fort Worth and the DFW Airport, for signing a gas lease for her tiny suburban home. The drillers will be outside the neighborhood, and directionally drill underneath.
DFW airport is already receiving a 25% royalty on the 30 MMcf/d (in October, 2007, no doubt higher now) plus the $180 million signing bonus from Chesapeake for drilling rights under the airport.
