The New Mexico Carbon Dioxide Storage Lease (with Landowner) is a legally binding agreement between the state of New Mexico and a landowner that grants the right to store carbon dioxide on a specified property. This lease is specifically designed to address the storage and sequestration of carbon dioxide, a greenhouse gas that contributes to climate change. Under this lease, landowners in New Mexico agree to allow the state or authorized entities to inject and store carbon dioxide beneath their property. The lease ensures that landowners will be fairly compensated for their participation in carbon capture and storage projects, and it outlines the rights and responsibilities of both parties. There are two types of New Mexico Carbon Dioxide Storage Lease (with Landowner), which are: 1. Public Trust Lease: This type of lease is issued by the state of New Mexico for land owned by the state or any of its associated agencies. The lease agreement grants the right to store carbon dioxide while ensuring compliance with environmental regulations and protection of the state's natural resources. Landowners are compensated in accordance with the terms outlined in the lease. 2. Private Land Lease: This type of lease is specifically designed for privately-owned land in New Mexico. Individuals or entities who own land can enter into this agreement to allow carbon dioxide storage on their property. The lease agreement ensures that landowners are fairly compensated for the use of their land, while also outlining the responsibilities and liabilities of both parties. Keywords: New Mexico Carbon Dioxide Storage Lease, Landowner, carbon dioxide, greenhouse gas, climate change, storage, sequestration, carbon capture, compensation, public trust lease, private land lease.
New Mexico Carbon Dioxide Storage Lease (with Landowner)
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FAQ
Courts consider two main theories when presented with this issue: the English Rule and the American Rule. The English Rule dictates that pore space belongs to the mineral estate because they created it by extracting the minerals. Conversely, the American Rule states that the surface estate owns the pore space.
Under American rule, the mineral estate holder owns the minerals but not the geologic formation. The surface owner owns the geologic pore space and has storage rights.
Ownership. W.S. § 34-1-152 grants pore space ownership to the surface owner and allows it to be severed from the surface and separately conveyed. In 2009 W.S. § 35-11-316 created an 80% unitization requirement.
Pore space ownership in the United States varies from state to state and can be owned by the State, by the U.S. government or private individuals. In other countries, subsurface rights are controlled entirely by the government.
Alaska has important competitive advantages for the development of a CCUS industry. The State owns the pore space used for storage under State lands, which allows leasing of large contiguous storage sites.
Ownership of pore space underlying surfaces. (a) The ownership of all pore space in all strata below the surface lands and waters of this state is declared to be vested in the several owners of the surface above the strata.
Carbon stored underground could find multiple ways to escape and seep back into the atmosphere due to chemical reactions that take place between the carbon dioxide, rocks, water in the pores and even the cement from abandoned wells, ing to researchers from Penn State University.
5 The summary of relevant case law below demonstrates that courts in Montana, Oklahoma, Louisiana, New York, Michigan, West Virginia, New Mexico, and California all recognize the surface owner's ownership of underground pore space for gas storage operations.