Alabama Subsurface Underground Gas Storage Lease and Agreement (From a Surface Owner, With No Right to Use the Surface of the Lands being Granted)
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FAQ
A mineral lease is a contractual agreement between the owner of a mineral estate (known as the lessor), and another party such as an oil and gas company (the lessee). The lease gives an oil or gas company the right to explore for and develop the oil and gas deposits in the area described in the lease.
The Federal Energy Regulatory Commission (FERC) is the primary body that regulates oil and gas companies, although a number of other federal offices oversee specific components of the oil and gas industry.
Unless explicitly separated by a deed, oil and gas rights are owned by the surface landowner. Oil and gas rights offshore are owned by either the state or federal government and leased to oil companies for development.
The BLM administers the lease but the Forest Service has more direct involvement in the leasing process for lands it administers. The Act also establishes a requirement that all public lands that are available for oil and gas leasing be offered first by competitive leasing.
A mineral lease is a contractual agreement between the owner of a mineral estate (known as the lessor), and another party such as an oil and gas company (the lessee). The lease gives an oil or gas company the right to explore for and develop the oil and gas deposits in the area described in the lease.
A mineral lease is a contract between a mineral owner (the lessor) and a company or working interest owner (the lessee) in which the lessor grants the lessee the right to explore, drill, and produce oil, gas, and other minerals for a specified period of time.
The Bureau of Land Management (BLM) manages public land, or onshore, leasing, and the Bureau of Ocean Energy Management (BOEM) manages public water, or offshore, leasing. As of 2022, the oil and gas industry held more than 34,000 leases on public lands, covering more than 23.7 million acres.
A property owner with mineral rights may explore, extract, and sell natural deposits found underneath the land surface. But surface rights only refer to exclusive rights to all physical property on the land.