Kentucky Subsurface Underground Gas Storage Lease and Agreement (From a Surface Owner, With No Right to Use the Surface of the Lands being Granted)

• Category: Oil Gas and Minerals - Leases
• State: Multi-State
• Control #: US-OG-1149
• Format: Word; Rich Text

Description

This form is a subsurface underground storage lease and agreement from a surface owner with no rights to use the surface of the lands being granted. Kentucky Subsurface Underground Gas Storage Lease and Agreement (From a Surface Owner, With No Right to Use the Surface of the Lands being Granted) is a legally binding contract that governs the rights and responsibilities of parties involved in the underground storage of gas in Kentucky. This agreement specifically applies when the surface owner does not have any rights to utilize the surface of the land for gas storage purposes. The Kentucky Subsurface Underground Gas Storage Lease and Agreement (From a Surface Owner, With No Right to Use the Surface of the Lands being Granted) outlines the terms and conditions under which the lessee has the exclusive right to store and extract gas from the subsurface. Key points covered in this agreement include: 1. Grant of Lease: The surface owner grants the lessee the exclusive right to store and extract gas from the subsurface beneath their land. 2. Term and Renewal: The agreement specifies the initial term of the lease and any provisions for renewal or extension. 3. Rental and Royalties: The lessee will pay rental fees and royalties to the surface owner, which are typically based on the volume of gas stored or extracted. 4. Operations and Maintenance: The agreement sets out the lessee's obligations regarding the safe operation, maintenance, and repair of the gas storage facilities. 5. Liability and Indemnification: The parties establish the liability and indemnification provisions to protect each other against any loss, damage, or injury arising from the gas storage operations. 6. Environmental Compliance: The lessee agrees to comply with all federal, state, and local laws and regulations pertaining to environmental protection and remediation. 7. Access to Land and Facilities: The agreement may outline specific terms for the lessee's access to the surface area, including any necessary rights-of-way or easements. Different types of Kentucky Subsurface Underground Gas Storage Lease and Agreement (From a Surface Owner, With No Right to Use the Surface of the Lands being Granted) may exist depending on the specific terms negotiated between the parties. These variations can include provisions for minimum storage capacity, pricing structures, termination rights, and restrictions on the lessee's activities. Therefore, it is crucial for both the surface owner and the lessee to carefully review and negotiate the terms of the Kentucky Subsurface Underground Gas Storage Lease and Agreement (From a Surface Owner, With No Right to Use the Surface of the Lands being Granted) to ensure their respective rights and obligations are adequately addressed.

Kentucky Subsurface Underground Gas Storage Lease and Agreement (From a Surface Owner, With No Right to Use the Surface of the Lands being Granted) is a legally binding contract that governs the rights and responsibilities of parties involved in the underground storage of gas in Kentucky. This agreement specifically applies when the surface owner does not have any rights to utilize the surface of the land for gas storage purposes. The Kentucky Subsurface Underground Gas Storage Lease and Agreement (From a Surface Owner, With No Right to Use the Surface of the Lands being Granted) outlines the terms and conditions under which the lessee has the exclusive right to store and extract gas from the subsurface. Key points covered in this agreement include: 1. Grant of Lease: The surface owner grants the lessee the exclusive right to store and extract gas from the subsurface beneath their land. 2. Term and Renewal: The agreement specifies the initial term of the lease and any provisions for renewal or extension. 3. Rental and Royalties: The lessee will pay rental fees and royalties to the surface owner, which are typically based on the volume of gas stored or extracted. 4. Operations and Maintenance: The agreement sets out the lessee's obligations regarding the safe operation, maintenance, and repair of the gas storage facilities. 5. Liability and Indemnification: The parties establish the liability and indemnification provisions to protect each other against any loss, damage, or injury arising from the gas storage operations. 6. Environmental Compliance: The lessee agrees to comply with all federal, state, and local laws and regulations pertaining to environmental protection and remediation. 7. Access to Land and Facilities: The agreement may outline specific terms for the lessee's access to the surface area, including any necessary rights-of-way or easements. Different types of Kentucky Subsurface Underground Gas Storage Lease and Agreement (From a Surface Owner, With No Right to Use the Surface of the Lands being Granted) may exist depending on the specific terms negotiated between the parties. These variations can include provisions for minimum storage capacity, pricing structures, termination rights, and restrictions on the lessee's activities. Therefore, it is crucial for both the surface owner and the lessee to carefully review and negotiate the terms of the Kentucky Subsurface Underground Gas Storage Lease and Agreement (From a Surface Owner, With No Right to Use the Surface of the Lands being Granted) to ensure their respective rights and obligations are adequately addressed.