Texas 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. A Texas Subsurface Underground Gas Storage Lease and Agreement (From a Surface Owner, With No Right to Use the Surface of the Lands being Granted) is a legal contract between the surface owner of a property and a gas storage company, granting the company the exclusive rights to store and extract natural gas from underground reservoirs located beneath the surface owner's property. This agreement is relevant for individuals or entities in Texas who own surface rights but do not have the right to access or utilize the underground space for gas storage purposes. In such agreements, the surface owner relinquishes the right to exploit the subsurface for gas storage while maintaining their ownership over the surface land. The gas storage company obtains the rights to drill wells, construct infrastructure, and manage the gas storage operations, subject to the terms and conditions specified in the lease and agreement. This type of lease and agreement is primarily used in Texas, where underground gas storage plays a vital role in maintaining a stable energy supply. Several types of Texas Subsurface Underground Gas Storage Lease and Agreement (From a Surface Owner, With No Right to Use the Surface of the Lands being Granted) may exist, based on specific provisions, tenure, and duration. Some variations include: 1. Fixed-Term Lease: This agreement establishes a defined period during which the gas storage company has exclusive rights to operate on the property for gas storage purposes. The lease may be renewed or terminated upon expiration. 2. Evergreen Lease: An evergreen lease allows the gas storage company to continue operating on the property indefinitely, subject to periodic reviews and adjustments. 3. Royalty Agreement: In a royalty agreement, the surface owner receives a percentage of the revenue generated from the gas storage operations as compensation for granting the access rights. 4. Limited Surface Use Agreement: This type of agreement allows the gas storage company limited access to the surface for maintenance and construction needs strictly related to the subsurface gas storage operations. 5. Environmental Protection Agreement: An environmental protection agreement ensures that the gas storage company follows applicable environmental regulations and implements proper mitigation measures to minimize any potential environmental impact. To ensure a comprehensive understanding, it is crucial to consult legal professionals with expertise in oil and gas leases and agreements in Texas. Proper legal advice helps both surface owners and gas storage companies establish fair and mutually beneficial terms and conditions, protecting the rights and interests of all parties involved.

A Texas Subsurface Underground Gas Storage Lease and Agreement (From a Surface Owner, With No Right to Use the Surface of the Lands being Granted) is a legal contract between the surface owner of a property and a gas storage company, granting the company the exclusive rights to store and extract natural gas from underground reservoirs located beneath the surface owner's property. This agreement is relevant for individuals or entities in Texas who own surface rights but do not have the right to access or utilize the underground space for gas storage purposes. In such agreements, the surface owner relinquishes the right to exploit the subsurface for gas storage while maintaining their ownership over the surface land. The gas storage company obtains the rights to drill wells, construct infrastructure, and manage the gas storage operations, subject to the terms and conditions specified in the lease and agreement. This type of lease and agreement is primarily used in Texas, where underground gas storage plays a vital role in maintaining a stable energy supply. Several types of Texas Subsurface Underground Gas Storage Lease and Agreement (From a Surface Owner, With No Right to Use the Surface of the Lands being Granted) may exist, based on specific provisions, tenure, and duration. Some variations include: 1. Fixed-Term Lease: This agreement establishes a defined period during which the gas storage company has exclusive rights to operate on the property for gas storage purposes. The lease may be renewed or terminated upon expiration. 2. Evergreen Lease: An evergreen lease allows the gas storage company to continue operating on the property indefinitely, subject to periodic reviews and adjustments. 3. Royalty Agreement: In a royalty agreement, the surface owner receives a percentage of the revenue generated from the gas storage operations as compensation for granting the access rights. 4. Limited Surface Use Agreement: This type of agreement allows the gas storage company limited access to the surface for maintenance and construction needs strictly related to the subsurface gas storage operations. 5. Environmental Protection Agreement: An environmental protection agreement ensures that the gas storage company follows applicable environmental regulations and implements proper mitigation measures to minimize any potential environmental impact. To ensure a comprehensive understanding, it is crucial to consult legal professionals with expertise in oil and gas leases and agreements in Texas. Proper legal advice helps both surface owners and gas storage companies establish fair and mutually beneficial terms and conditions, protecting the rights and interests of all parties involved.