New Hampshire Surface Use Agreement (Oil and Gas Operations) is a legal document that outlines the terms and conditions governing the usage of land for oil and gas activities within the state of New Hampshire. This agreement is significant because it establishes a clear framework for the relationship between the surface landowner and the oil and gas operator, ensuring responsible and mutually beneficial operations. The New Hampshire Surface Use Agreement typically covers various aspects related to the exploration, drilling, production, and extraction of oil and gas resources. It sets out guidelines for issues such as land access, environmental protection, compensation, and liability management. A well-drafted agreement creates a balance between the rights of the surface owner to protect their property and the operator's need for reasonable resource extraction. Keywords: New Hampshire Surface Use Agreement, oil and gas operations, landowner, operator, exploration, drilling, production, extraction, land access, environmental protection, compensation, liability management, resource extraction. There are certain types of New Hampshire Surface Use Agreements tailored to specific requirements and situations. These include: 1. Exploration Agreement: This type of agreement focuses on granting permission for the preliminary investigation and surveying of land to identify potential oil and gas reserves. It defines the specific areas to be explored and outlines the parameters for conducting various tests and studies. 2. Drilling Agreement: Once exploration confirms the presence of oil and gas reserves, a drilling agreement comes into play. This agreement defines the terms for setting up and drilling wells on the property. It specifies the depth, location, and duration of drilling activities and sets guidelines for safety measures, well maintenance, and restoration after completion. 3. Production Agreement: When oil and gas are successfully extracted from the wells, a production agreement is required. This agreement establishes the terms under which the operator can collect, store, and transport the resources. It covers topics such as production volumes, revenue sharing, royalty payments, and environmental protection measures during production. 4. Surface Damage Agreement: This type of agreement focuses on the compensation and mitigation of any damage caused to the surface land during oil and gas operations. It outlines the responsibilities of the operator regarding land restoration, compensation for property damage, and remediation of any environmental impacts. By customizing the New Hampshire Surface Use Agreement to the specific type of operation, it ensures that all parties involved are protected, and the interests of both the surface owner and the oil and gas operator are considered.
New Hampshire Surface Use Agreement (Oil and Gas Operations)
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FAQ
Oil and gas interests are interests in real property and thereby have the same attributes as other real property such as a home or a ranch. Although the ownership of oil and gas interests can take many forms, courts commonly analogize the ownership of oil and gas interests to a bundle of sticks.
Concerning land ownership and property law, subsurface rights can allow a property owner to discover and utilize anything extracted from underneath a property without interference from a second party. Purchasing both rights for a property is possible.
A percentage of ownership in an oil and gas lease granting its owner the right to explore, drill and produce oil and gas from a tract of property. Working interest owners are obligated to pay a corresponding percentage of the cost of leasing, drilling, producing and operating a well or unit.
The definition of assignment in real estate is the sale, transfer, or conveyance of a whole property ownership/rights or part of it to another party. The term in the oil and gas industry is used for sale, transfer, or conveyance of working interest, lease, royalty, overriding royalty interest, or net profit interest.
An assignment of oil and gas lease is a contractual agreement between a landowner and an oil or gas company in which the company gains the right to explore for, develop, and produce oil and gas from the property.
Net Revenue Interest is the portion of an oil and gas leaseholder's interest in production that they are entitled to receive as part of their lease. The amount is calculated after deducting all royalty payments, production costs, and other fees.
The surface use agreement will specify what the oil and gas company or operator can do on the landowner's land in developing the oil and gas, where development can take place, and what compensation the landowner will receive.