New Mexico Surface Lease to Allow Storing or Transporting Oil and Gas from off Premises

• Category: Oil Gas and Minerals - Agreements
• State: Multi-State
• Control #: US-OG-151
• Format: Word; Rich Text

Description

This form addresses the situation where an oil operator desires to store oil (probably in a tank battery) on lands where the wells are not located and are not subject to an oil and gas lease. New Mexico Surface Lease to Allow Storing or Transporting Oil and Gas from off Premises A New Mexico Surface Lease to Allow Storing or Transporting Oil and Gas from off Premises is a legal agreement that authorizes the use of land for the purpose of storing or transporting oil and gas extracted from sources located elsewhere. This lease grants the lessee the right to use the surface area of the property exclusively for these activities. There are different types of New Mexico Surface Leases based on the specific requirements and terms agreed upon by the parties involved. The most common types include: 1. Exploration and Production (E&P) Lease: This type of lease allows for the exploration and extraction of oil and gas resources from a specific area while granting the lessee the right to store and transport these resources from off-site locations. It typically involves geological surveys, drilling operations, and subsequent production activities. 2. Pipeline Easement Lease: This lease grants the lessee the right to construct and operate pipelines for the transportation of oil and gas across the property. The lessee is responsible for maintaining and repairing the pipelines as necessary. 3. Storage Facility Lease: This type of lease focuses solely on the use of the land for storing extracted oil and gas resources. It allows the lessee to construct and maintain storage facilities such as tanks or reservoirs on the surface area. The key components of a New Mexico Surface Lease to Allow Storing or Transporting Oil and Gas from off Premises typically include: — Parties Involved: The lease will identify the lessor (landowner) and the lessee (oil and gas company or entity). — Description of the Property: A detailed description of the land that includes boundaries, acreage, and any restrictions or easements. — Term and Renewal: The duration of the lease, including any provisions for renewal or termination. — Permitted Activities: This section outlines the specific activities allowed on the property, such as exploration, drilling, extraction, storage, and transportation of oil and gas resources. — Compensation: The lease will specify the financial arrangements, including any royalty payments, bonuses, or other forms of compensation to be provided to the lessor. — Environmental and Safety Regulations: The lease will include provisions for compliance with local, state, and federal regulations regarding environmental protection, safety measures, and reclamation of the property after operations cease. — Indemnification: The lessee will typically be required to indemnify the lessor against any liabilities or damages related to the leased activities. — Surface Damages: This section covers the responsibilities of the lessee regarding any damages to the surface area during operations, including restoration and reclamation efforts. Overall, a New Mexico Surface Lease to Allow Storing or Transporting Oil and Gas from off Premises is a legally binding agreement that establishes the rights and obligations concerning oil and gas activities on a specific property, while ensuring compliance with applicable laws and environmental regulations.

New Mexico Surface Lease to Allow Storing or Transporting Oil and Gas from off Premises A New Mexico Surface Lease to Allow Storing or Transporting Oil and Gas from off Premises is a legal agreement that authorizes the use of land for the purpose of storing or transporting oil and gas extracted from sources located elsewhere. This lease grants the lessee the right to use the surface area of the property exclusively for these activities. There are different types of New Mexico Surface Leases based on the specific requirements and terms agreed upon by the parties involved. The most common types include: 1. Exploration and Production (E&P) Lease: This type of lease allows for the exploration and extraction of oil and gas resources from a specific area while granting the lessee the right to store and transport these resources from off-site locations. It typically involves geological surveys, drilling operations, and subsequent production activities. 2. Pipeline Easement Lease: This lease grants the lessee the right to construct and operate pipelines for the transportation of oil and gas across the property. The lessee is responsible for maintaining and repairing the pipelines as necessary. 3. Storage Facility Lease: This type of lease focuses solely on the use of the land for storing extracted oil and gas resources. It allows the lessee to construct and maintain storage facilities such as tanks or reservoirs on the surface area. The key components of a New Mexico Surface Lease to Allow Storing or Transporting Oil and Gas from off Premises typically include: — Parties Involved: The lease will identify the lessor (landowner) and the lessee (oil and gas company or entity). — Description of the Property: A detailed description of the land that includes boundaries, acreage, and any restrictions or easements. — Term and Renewal: The duration of the lease, including any provisions for renewal or termination. — Permitted Activities: This section outlines the specific activities allowed on the property, such as exploration, drilling, extraction, storage, and transportation of oil and gas resources. — Compensation: The lease will specify the financial arrangements, including any royalty payments, bonuses, or other forms of compensation to be provided to the lessor. — Environmental and Safety Regulations: The lease will include provisions for compliance with local, state, and federal regulations regarding environmental protection, safety measures, and reclamation of the property after operations cease. — Indemnification: The lessee will typically be required to indemnify the lessor against any liabilities or damages related to the leased activities. — Surface Damages: This section covers the responsibilities of the lessee regarding any damages to the surface area during operations, including restoration and reclamation efforts. Overall, a New Mexico Surface Lease to Allow Storing or Transporting Oil and Gas from off Premises is a legally binding agreement that establishes the rights and obligations concerning oil and gas activities on a specific property, while ensuring compliance with applicable laws and environmental regulations.