New Mexico Gas Storage Lease

State:
Multi-State
Control #:
US-OG-1013
Format:
Word; 
Rich Text
Instant download

Description

This form may be used for a gas storage lease.

The New Mexico Gas Storage Lease is a legal agreement that allows individuals or companies to utilize designated underground storage facilities within the state of New Mexico for the purpose of storing natural gas. These storage facilities are crucial for maintaining a stable supply of natural gas, as they can help balance the demand and supply during times of fluctuations in consumption or production. The New Mexico Gas Storage Lease offers lessees the right to use and access underground storage reservoirs located within the state boundaries for the storage of natural gas. These reservoirs are typically depleted oil or gas fields, or underground caverns specifically developed for storage purposes. The lease establishes the terms and conditions under which the lessee can operate, maintain, and store natural gas in these facilities. The New Mexico Gas Storage Lease is a legally binding document that details various vital aspects such as the lease term, storage capacity, operating rights, fees, and obligations of the parties involved. It defines the conditions under which the lessee can inject, store, and withdraw natural gas from the designated storage facilities. The lease agreement also outlines the responsibilities for maintaining the infrastructure, complying with safety regulations, and ensuring the integrity of the storage facilities. There are two main types of New Mexico Gas Storage Leases: 1. Depleted Fields Leases: These leases involve utilizing existing oil or gas fields that have been depleted and no longer produce economically viable amounts of hydrocarbons. The lessee can convert these fields into storage reservoirs, injecting natural gas during periods of low demand and withdrawing it when demand rises. 2. Underground Caverns Leases: These leases involve utilizing underground geological formations or caverns specifically developed for natural gas storage. Caverns are created by solution mining techniques, where the rock salt or other suitable materials are dissolved, leaving behind large underground cavities. These cavities can be used as secure storage facilities for natural gas. In summary, the New Mexico Gas Storage Lease establishes the terms and conditions for utilizing designated underground storage facilities within the state for the storage of natural gas. It plays a critical role in maintaining a stable natural gas supply and allows for balancing the demand and supply during varying consumption or production patterns. Different types of leases include depleted fields leases and underground caverns leases.

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FAQ

Depleted natural gas or oil fields function as gas storage reservoirs in California. Natural gas is injected into the storage reservoirs through gas storage wells and stored until withdrawn for use. There are 12 underground natural gas storage fields in the state.

To start, stop or transfer natural gas service, contact New Mexico Gas Company at 505-697-3335 (Albuquerque Metro) or toll free at 1-888-NM-GAS-CO (1-888-664-2726).

If you have additional questions about New Mexico Gas Company's services and procedures, please visit our website .nmgco.com or call our Customer Service Center at 1-888-NM-GAS-CO (1-888-664-2726). HOW TO REACH US - New Mexico Gas Company New Mexico Gas Company ? userfiles ? files ? 20... New Mexico Gas Company ? userfiles ? files ? 20... PDF

Emera NMGC is a wholly owned subsidiary of Emera. New Mexico Gas Co. - Emera Inc. emera.com ? companies ? regulated-electric emera.com ? companies ? regulated-electric

1-888-664-2726 For additional options and locations, please contact our Call Center at 1-888-664-2726 or click here. Need Help? Assistance is Available - New Mexico Gas Company nmgco.com ? assistance nmgco.com ? assistance

NM Gas Company - NM PRC. NM Gas Company nm.gov ? gas-companies ? nm-gas-com... nm.gov ? gas-companies ? nm-gas-com...

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Feb 20, 2023 — ... storage facility (“LNG Facility”) in New Mexico. Since March 2022 ... The storage tank will also be able to be filled from and deliver natural gas ... Jul 19, 2014 — ... agreement, file for record in the office where a counterpart of this agreement is recorded, a certificate to the effect that this agreement ...Dec 1, 2022 — WHEREAS, the lessee has filed in the office of the commissioner of public lands an application for an oil and gas lease cover ing the lands ... ("the Lease") initially made by the New Mexico State Land Office to: ... COMPLETE ADDRESS: An Assignment shall show the complete mailing address of the Assignee. Points in New Mexico · § 70–3–2. License; Fees; Disposition · § 70–3–3 ... Existing Rights, Rights in Unleased Land and Royalties and Lease Burdens · § 70–7–19 ... A physical natural gas storage arrangement should be evaluated using the commodity contract assessment framework (see UP 1). After identifying the contract ... Add the Subsurface Underground Gas Storage Lease and Agreement (With Landowner; Long Form) for editing. Click the New Document option above, then drag and drop ... Sep 25, 2023 — New Mexico Gas Company projects that it will cost $180.9 million to construct. The utility currently leases storage space at the Keystone ... ... in the name of the state of New Mexico. The form of basic lease is statutory ... 100.53 COMMINGLING AND OFF-LEASE STORAGE OF OIL AND GAS ON STATE TRUST LANDS:. $2,500) in the respective school district in New Mexico by type of gas meter. ... leased pipelines by school district within each county in New. Mexico. Column 1 ...

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New Mexico Gas Storage Lease