Maryland Amendment to Oil, Gas and Mineral Lease (to Provide for Gas Storage)

• Category: Oil Gas and Minerals - Leases
• State: Multi-State
• Control #: US-OG-930
• Format: Word; Rich Text

Description

This form is an amendment to oil, gas and mineral lease to provide for gas storage. The Maryland Amendment to Oil, Gas and Mineral Lease (to Provide for Gas Storage) refers to a modification in the existing laws and regulations pertaining to leasing agreements for oil, gas, and mineral rights in the state of Maryland. This amendment specifically addresses the inclusion of provisions related to gas storage within these lease agreements. Gas storage is the process of storing natural gas in underground reservoirs or facilities for future use or to maintain a stable supply during peak demand periods. The Maryland Amendment recognizes the importance of gas storage and aims to provide guidelines and regulation framework to ensure its efficient and responsible implementation. This amendment acknowledges the significance of diversifying energy sources and promoting the reliability of gas supply. By allowing and encouraging gas storage within oil, gas, and mineral lease agreements, Maryland aims to attract investments and foster the development and utilization of underground gas storage facilities. Several types of gas storage may be addressed in the Maryland Amendment. These may include: 1. Depleted Reservoir Storage: This type of storage involves utilizing depleted oil or gas fields for gas storage purposes once the primary oil or gas extraction operations have concluded. These reservoirs often have suitable characteristics for gas storage due to their geological structure. 2. Salt Cavern Storage: Salt caverns are created by injecting water into underground salt formations to dissolve the salt and create caverns suitable for gas storage. These caverns offer high storage capacities and quick injection and withdrawal rates, making them a valuable option for gas storage. 3. Aquifer Storage: This method involves injecting natural gas into underground aquifers, which are porous geological formations capable of holding large quantities of gas. Aquifer storage is ideal when suitable geological formations exist near gas-producing regions. The Maryland Amendment to Oil, Gas and Mineral Lease (to Provide for Gas Storage) emphasizes the necessity of conducting thorough feasibility studies, environmental assessments, and potential risk analyses to ensure safe and responsible gas storage operations. This amendment also outlines processes for obtaining necessary permits, approvals, and compliance with local, state, and federal regulations. Overall, the Maryland Amendment to Oil, Gas and Mineral Lease (to Provide for Gas Storage) aims to promote the growth of gas storage infrastructure in the state. By encouraging the utilization of various types of gas storage facilities, Maryland envisions enhancing energy reliability, supporting economic development, and fostering a sustainable and diverse energy portfolio.

The Maryland Amendment to Oil, Gas and Mineral Lease (to Provide for Gas Storage) refers to a modification in the existing laws and regulations pertaining to leasing agreements for oil, gas, and mineral rights in the state of Maryland. This amendment specifically addresses the inclusion of provisions related to gas storage within these lease agreements. Gas storage is the process of storing natural gas in underground reservoirs or facilities for future use or to maintain a stable supply during peak demand periods. The Maryland Amendment recognizes the importance of gas storage and aims to provide guidelines and regulation framework to ensure its efficient and responsible implementation. This amendment acknowledges the significance of diversifying energy sources and promoting the reliability of gas supply. By allowing and encouraging gas storage within oil, gas, and mineral lease agreements, Maryland aims to attract investments and foster the development and utilization of underground gas storage facilities. Several types of gas storage may be addressed in the Maryland Amendment. These may include: 1. Depleted Reservoir Storage: This type of storage involves utilizing depleted oil or gas fields for gas storage purposes once the primary oil or gas extraction operations have concluded. These reservoirs often have suitable characteristics for gas storage due to their geological structure. 2. Salt Cavern Storage: Salt caverns are created by injecting water into underground salt formations to dissolve the salt and create caverns suitable for gas storage. These caverns offer high storage capacities and quick injection and withdrawal rates, making them a valuable option for gas storage. 3. Aquifer Storage: This method involves injecting natural gas into underground aquifers, which are porous geological formations capable of holding large quantities of gas. Aquifer storage is ideal when suitable geological formations exist near gas-producing regions. The Maryland Amendment to Oil, Gas and Mineral Lease (to Provide for Gas Storage) emphasizes the necessity of conducting thorough feasibility studies, environmental assessments, and potential risk analyses to ensure safe and responsible gas storage operations. This amendment also outlines processes for obtaining necessary permits, approvals, and compliance with local, state, and federal regulations. Overall, the Maryland Amendment to Oil, Gas and Mineral Lease (to Provide for Gas Storage) aims to promote the growth of gas storage infrastructure in the state. By encouraging the utilization of various types of gas storage facilities, Maryland envisions enhancing energy reliability, supporting economic development, and fostering a sustainable and diverse energy portfolio.