New Mexico 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 New Mexico Gas Storage Unit Agreement (Establish Unit on Depleted Producing Property) is a legal contract that governs the establishment and operation of gas storage units on depleted producing properties in the state of New Mexico. This agreement enables gas companies to utilize depleted oil or gas reservoirs for the purpose of storage, maintaining and optimizing gas supply during periods of high demand or low production. Keywords: New Mexico, gas storage unit agreement, depleted producing property, gas storage units, legal contract, gas companies, depleted oil or gas reservoirs, storage, gas supply, high demand, low production. There are different types of New Mexico Gas Storage Unit Agreements, which include: 1. Conventional Gas Storage Unit Agreement: This type of agreement pertains to the establishment and operation of gas storage units on conventional depleted producing properties, where the reservoirs have been previously utilized for oil or gas extraction. 2. Unconventional Gas Storage Unit Agreement: This agreement is specifically designed for the utilization of unconventional depleted producing properties, such as shale gas reservoirs, which require different techniques and technologies for gas storage operations. 3. Direct Sale Gas Storage Unit Agreement: This type of agreement allows for the direct sale of gas stored in the storage unit to consumers, bypassing the need for transportation or distribution through pipelines. It is often applicable for industrial or commercial facilities located in proximity to the storage unit. 4. Third-Party Access Gas Storage Unit Agreement: This agreement enables third-party gas companies or storage operators to have access to the storage unit, allowing them to store their gas inventory and optimize their supply operations. This arrangement promotes competition and helps ensure fair pricing and availability in the gas market. 5. Long-Term Storage Agreement: This type of agreement involves long-term commitments between the gas company and the storage unit operator, typically spanning several years. It guarantees storage capacity and ensures stability in gas supply, allowing the gas company to meet its long-term contractual obligations to its customers. Overall, the New Mexico Gas Storage Unit Agreement (Establish Unit on Depleted Producing Property) offers a framework for efficient utilization of depleted producing properties for gas storage purposes, providing essential gas supply stability and flexibility in the state's energy infrastructure.

The New Mexico Gas Storage Unit Agreement (Establish Unit on Depleted Producing Property) is a legal contract that governs the establishment and operation of gas storage units on depleted producing properties in the state of New Mexico. This agreement enables gas companies to utilize depleted oil or gas reservoirs for the purpose of storage, maintaining and optimizing gas supply during periods of high demand or low production. Keywords: New Mexico, gas storage unit agreement, depleted producing property, gas storage units, legal contract, gas companies, depleted oil or gas reservoirs, storage, gas supply, high demand, low production. There are different types of New Mexico Gas Storage Unit Agreements, which include: 1. Conventional Gas Storage Unit Agreement: This type of agreement pertains to the establishment and operation of gas storage units on conventional depleted producing properties, where the reservoirs have been previously utilized for oil or gas extraction. 2. Unconventional Gas Storage Unit Agreement: This agreement is specifically designed for the utilization of unconventional depleted producing properties, such as shale gas reservoirs, which require different techniques and technologies for gas storage operations. 3. Direct Sale Gas Storage Unit Agreement: This type of agreement allows for the direct sale of gas stored in the storage unit to consumers, bypassing the need for transportation or distribution through pipelines. It is often applicable for industrial or commercial facilities located in proximity to the storage unit. 4. Third-Party Access Gas Storage Unit Agreement: This agreement enables third-party gas companies or storage operators to have access to the storage unit, allowing them to store their gas inventory and optimize their supply operations. This arrangement promotes competition and helps ensure fair pricing and availability in the gas market. 5. Long-Term Storage Agreement: This type of agreement involves long-term commitments between the gas company and the storage unit operator, typically spanning several years. It guarantees storage capacity and ensures stability in gas supply, allowing the gas company to meet its long-term contractual obligations to its customers. Overall, the New Mexico Gas Storage Unit Agreement (Establish Unit on Depleted Producing Property) offers a framework for efficient utilization of depleted producing properties for gas storage purposes, providing essential gas supply stability and flexibility in the state's energy infrastructure.