Minnesota Gas Storage Unit Agreement (Establish Unit on Depleted Producing Property)

• Category: Oil Gas and Minerals - Agreements
• State: Multi-State
• Control #: US-OG-1016
• Format: Word; Rich Text

Description

This is an agreement to establish a gas storage unit on depleted producing property. The Minnesota Gas Storage Unit Agreement (Establish Unit on Depleted Producing Property) is a legal contract that pertains to the establishment and operation of a gas storage unit on a previously depleted producing property in the state of Minnesota. This agreement outlines the terms and conditions under which the gas storage unit will be operated, including the rights and responsibilities of the parties involved. Key Keywords: 1. Gas storage unit: Refers to a facility or infrastructure designed for the storage of natural gas or other types of gas. 2. Depleted producing property: Describes a site that was previously used for gas production but has since been depleted, making it suitable for gas storage purposes. 3. Minnesota: The state in which this specific gas storage unit agreement is applicable. 4. Agreement: Refers to a legally binding contract between parties that outlines their rights, obligations, and terms of operation. 5. Establish: Indicates the act of creating or setting up a gas storage unit on the mentioned depleted producing property. Types of Minnesota Gas Storage Unit Agreement (Establish Unit on Depleted Producing Property): 1. Short-term agreement: Covers a gas storage unit established on a depleted producing property for a limited duration, typically up to a year. This type of agreement is suited for short-term storage needs or seasonal fluctuations in gas demand. 2. Long-term agreement: Involves a gas storage unit established on a depleted producing property for an extended period, often several years or even decades. Long-term agreements are suitable for businesses or utilities that require consistent and reliable gas storage capabilities. 3. Lease agreement: This type of gas storage unit agreement involves the lease of the depleted producing property itself for the purpose of establishing and operating a gas storage unit. It specifies the duration of the lease, rental fees, and other relevant terms. 4. Joint venture agreement: In some cases, multiple parties may come together to establish a gas storage unit on a depleted producing property. A joint venture agreement outlines the rights, responsibilities, and profit-sharing arrangements between the collaborating parties. Overall, the Minnesota Gas Storage Unit Agreement (Establish Unit on Depleted Producing Property) is a comprehensive legal contract that governs the establishment, operation, and management of gas storage units on previously depleted producing properties in the state of Minnesota.

The Minnesota Gas Storage Unit Agreement (Establish Unit on Depleted Producing Property) is a legal contract that pertains to the establishment and operation of a gas storage unit on a previously depleted producing property in the state of Minnesota. This agreement outlines the terms and conditions under which the gas storage unit will be operated, including the rights and responsibilities of the parties involved. Key Keywords: 1. Gas storage unit: Refers to a facility or infrastructure designed for the storage of natural gas or other types of gas. 2. Depleted producing property: Describes a site that was previously used for gas production but has since been depleted, making it suitable for gas storage purposes. 3. Minnesota: The state in which this specific gas storage unit agreement is applicable. 4. Agreement: Refers to a legally binding contract between parties that outlines their rights, obligations, and terms of operation. 5. Establish: Indicates the act of creating or setting up a gas storage unit on the mentioned depleted producing property. Types of Minnesota Gas Storage Unit Agreement (Establish Unit on Depleted Producing Property): 1. Short-term agreement: Covers a gas storage unit established on a depleted producing property for a limited duration, typically up to a year. This type of agreement is suited for short-term storage needs or seasonal fluctuations in gas demand. 2. Long-term agreement: Involves a gas storage unit established on a depleted producing property for an extended period, often several years or even decades. Long-term agreements are suitable for businesses or utilities that require consistent and reliable gas storage capabilities. 3. Lease agreement: This type of gas storage unit agreement involves the lease of the depleted producing property itself for the purpose of establishing and operating a gas storage unit. It specifies the duration of the lease, rental fees, and other relevant terms. 4. Joint venture agreement: In some cases, multiple parties may come together to establish a gas storage unit on a depleted producing property. A joint venture agreement outlines the rights, responsibilities, and profit-sharing arrangements between the collaborating parties. Overall, the Minnesota Gas Storage Unit Agreement (Establish Unit on Depleted Producing Property) is a comprehensive legal contract that governs the establishment, operation, and management of gas storage units on previously depleted producing properties in the state of Minnesota.