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.
New Mexico Subsurface Underground Storage Lease and Agreement (From a Surface Owner, With No Right ot Use the Surface of the Lands being Granted)
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A surface use agreement, which is also sometimes referred to as a land use agreement, is an agreement between the landowner and an oil and gas company or an operator for the use of the landowner's land in the development of the oil and gas.
Surface rights refer to the legal rights and privileges associated with the use, control, and ownership of the surface of a piece of land or property. These rights typically include the ability to occupy, build, develop, and make use of the land's surface for various purposes.
A surface use agreement, which is also sometimes referred to as a land use agreement, is an agreement between the landowner and an oil and gas company or an operator for the use of the landowner's land in the development of the oil and gas.
Surface Lease means a lease, easement, or other agreement providing the holder with the right to enter the surface of any land for the purpose of constructing and operating a well, facility, flowline, roadway, or power line; Sample 1.
Surface Right means the right in rem of an individual or a legal entity, which is established for a time period of up to 99 years, to construct a building within public property and to exercise on such building the powers captured by the right of ownership, in ance with Articles 18 to 26 of Law 3986/2011, as in ...
Generally speaking, buying land without mineral rights means that you only own the surface property. As the surface land owner, you can do almost whatever you want with the land surface, whether it is grow crops, build a structure, rent it out, etc.
A surface use agreement is a legal document that outlines the specific terms and conditions of the lease. It protects both the company and the landowners by detailing things like compensation, environmental regulations, and safety measures.
A landowner may own the rights to everything on the surface, but not the rights to underground resources such as oil, gas, and minerals. In the United States, landowners possess both surface and mineral rights unless they choose to sell the mineral rights to someone else.