New Mexico Subsurface Underground Storage Lease and Agreement (From a Surface Owner, With No Right ot Use the Surface of the Lands being Granted)

• Category: Oil Gas and Minerals - Leases
• State: Multi-State
• Control #: US-OG-1151
• Format: Word; Rich Text

Description

This form is a subsurface underground gas storage lease and agreement from a surface owner with no rights to use the surface of the lands being granted. The New Mexico Subsurface Underground Storage Lease and Agreement (From a Surface Owner, With No Right to Use the Surface of the Lands being Granted) is a legal document that outlines the terms and conditions under which a surface owner grants the rights for underground storage to another party. This agreement is specific to New Mexico and is crucial for efficiently managing and utilizing subsurface storage resources. Keywords: New Mexico, subsurface underground storage, lease and agreement, surface owner, no right to use, lands being granted. Different types of New Mexico Subsurface Underground Storage Lease and Agreement (From a Surface Owner, With No Right to Use the Surface of the Lands being Granted) can be categorized based on the type of resource being stored, the duration of the lease, and specific provisions included. Some examples include: 1. Natural Gas Storage Agreement: This type of agreement focuses on the storage of natural gas in subsurface reservoirs. It outlines the rights, responsibilities, and compensation related to the storage and withdrawal of natural gas. 2. Oil Storage Lease: This agreement is specific to the storage of oil underground. It sets forth the terms for storing various types of oil and includes provisions related to storage capacity, access, and royalties payable to the surface owner. 3. Salt Cavern Storage Lease: Salt caverns are commonly used for storing various materials, including natural gas, crude oil, and hydrocarbons. This type of agreement specifically addresses the utilization of salt caverns for storage purposes, detailing conditions, and terms related to the cavern's use, maintenance, and compensation. 4. Water Storage Agreement: In certain cases, subsurface storage is used for storing water resources. This type of agreement focuses on the rights and responsibilities concerning water storage, usage, and replenishment. It may cover issues such as water quality, storage capacity, and rights of access. Regardless of the specific type, each New Mexico Subsurface Underground Storage Lease and Agreement (From a Surface Owner, With No Right to Use the Surface of the Lands being Granted) serves as a legal contract that protects the interests and rights of both the surface owner and the party granted subsurface storage rights. It ensures proper management and utilization of underground storage resources while providing clear guidelines for compensation, access, and other associated provisions.

The New Mexico Subsurface Underground Storage Lease and Agreement (From a Surface Owner, With No Right to Use the Surface of the Lands being Granted) is a legal document that outlines the terms and conditions under which a surface owner grants the rights for underground storage to another party. This agreement is specific to New Mexico and is crucial for efficiently managing and utilizing subsurface storage resources. Keywords: New Mexico, subsurface underground storage, lease and agreement, surface owner, no right to use, lands being granted. Different types of New Mexico Subsurface Underground Storage Lease and Agreement (From a Surface Owner, With No Right to Use the Surface of the Lands being Granted) can be categorized based on the type of resource being stored, the duration of the lease, and specific provisions included. Some examples include: 1. Natural Gas Storage Agreement: This type of agreement focuses on the storage of natural gas in subsurface reservoirs. It outlines the rights, responsibilities, and compensation related to the storage and withdrawal of natural gas. 2. Oil Storage Lease: This agreement is specific to the storage of oil underground. It sets forth the terms for storing various types of oil and includes provisions related to storage capacity, access, and royalties payable to the surface owner. 3. Salt Cavern Storage Lease: Salt caverns are commonly used for storing various materials, including natural gas, crude oil, and hydrocarbons. This type of agreement specifically addresses the utilization of salt caverns for storage purposes, detailing conditions, and terms related to the cavern's use, maintenance, and compensation. 4. Water Storage Agreement: In certain cases, subsurface storage is used for storing water resources. This type of agreement focuses on the rights and responsibilities concerning water storage, usage, and replenishment. It may cover issues such as water quality, storage capacity, and rights of access. Regardless of the specific type, each New Mexico Subsurface Underground Storage Lease and Agreement (From a Surface Owner, With No Right to Use the Surface of the Lands being Granted) serves as a legal contract that protects the interests and rights of both the surface owner and the party granted subsurface storage rights. It ensures proper management and utilization of underground storage resources while providing clear guidelines for compensation, access, and other associated provisions.