Ohio Subsurface Underground Gas Storage Lease and Agreement (From a Surface Owner, With No Right to Use the Surface of the Lands being Granted)

• Category: Oil Gas and Minerals - Leases
• State: Multi-State
• Control #: US-OG-1149
• Format: Word; Rich Text

Description

This form is a subsurface underground storage lease and agreement from a surface owner with no rights to use the surface of the lands being granted. Ohio Subsurface Underground Gas Storage Lease and Agreement (From a Surface Owner, With No Right to Use the Surface of the Lands being Granted) refers to a legally binding contract between a surface owner and a gas storage company, granting the company the right to store natural gas or other substances in underground formations on the owner's land. In this type of lease and agreement, the surface owner retains ownership and control over the surface of the land, while allowing the gas storage company access to the subsurface for the purposes of gas storage. This agreement is crucial for companies engaged in underground gas storage operations as it grants them the necessary subsurface rights to store natural gas in underground reservoirs. When drafting such an agreement, it is important to include important clauses regarding the duration of the lease, the compensation to be paid to the surface owner, the limitations on the gas storage activities, and the responsibilities and liabilities of both parties. Some important keywords relevant to this topic include: 1. Ohio: Referring to the state where the subsurface underground gas storage lease and agreement is being executed, highlighting the specific legal framework and regulations applicable in Ohio. 2. Subsurface: Relating to the area of land beneath the surface, where the gas storage operations take place. 3. Underground Gas Storage: Describing the process of storing natural gas or other substances in underground formations to ensure a constant supply and balance in the energy market. 4. Lease and Agreement: Referring to the legal contract that establishes the terms and conditions between the surface owner and the gas storage company. 5. Surface Owner: The individual or entity that holds ownership and control over the surface of the land. 6. Gas Storage Company: The entity responsible for operating and managing the underground gas storage facility. 7. Lands being Granted: Referring to the specific area of land being granted or leased to the gas storage company for the purposes of underground gas storage. It's important to note that while the described lease and agreement is simplified to focus on the surface owner not having the right to use the surface of the lands being granted, there may be additional types of Ohio Subsurface Underground Gas Storage Lease and Agreement that involve different arrangements or provisions based on the specific circumstances and requirements of the parties involved.

Ohio Subsurface Underground Gas Storage Lease and Agreement (From a Surface Owner, With No Right to Use the Surface of the Lands being Granted) refers to a legally binding contract between a surface owner and a gas storage company, granting the company the right to store natural gas or other substances in underground formations on the owner's land. In this type of lease and agreement, the surface owner retains ownership and control over the surface of the land, while allowing the gas storage company access to the subsurface for the purposes of gas storage. This agreement is crucial for companies engaged in underground gas storage operations as it grants them the necessary subsurface rights to store natural gas in underground reservoirs. When drafting such an agreement, it is important to include important clauses regarding the duration of the lease, the compensation to be paid to the surface owner, the limitations on the gas storage activities, and the responsibilities and liabilities of both parties. Some important keywords relevant to this topic include: 1. Ohio: Referring to the state where the subsurface underground gas storage lease and agreement is being executed, highlighting the specific legal framework and regulations applicable in Ohio. 2. Subsurface: Relating to the area of land beneath the surface, where the gas storage operations take place. 3. Underground Gas Storage: Describing the process of storing natural gas or other substances in underground formations to ensure a constant supply and balance in the energy market. 4. Lease and Agreement: Referring to the legal contract that establishes the terms and conditions between the surface owner and the gas storage company. 5. Surface Owner: The individual or entity that holds ownership and control over the surface of the land. 6. Gas Storage Company: The entity responsible for operating and managing the underground gas storage facility. 7. Lands being Granted: Referring to the specific area of land being granted or leased to the gas storage company for the purposes of underground gas storage. It's important to note that while the described lease and agreement is simplified to focus on the surface owner not having the right to use the surface of the lands being granted, there may be additional types of Ohio Subsurface Underground Gas Storage Lease and Agreement that involve different arrangements or provisions based on the specific circumstances and requirements of the parties involved.