Hillsborough Florida Gas Storage Lease

Name: Hillsborough Florida Gas Storage Lease
Brand: US Legal Forms
Rating: 4.79 (400 reviews)

Category:

Oil Gas and Minerals - Leases

State:

Multi-State

County:

Hillsborough

Control #:

US-OG-1013

Format:

Instant download

Description

This form may be used for a gas storage lease. The Hillsborough Florida Gas Storage Lease is a legal agreement that allows the lessee to utilize underground storage facilities located in Hillsborough County, Florida, for the storage of natural gas. This lease provides a unique opportunity for energy companies, utilities, and other relevant entities to store natural gas reserves in strategically located underground facilities in Hillsborough County, ensuring adequate supply and smooth operation of gas distribution networks. The Hillsborough Florida Gas Storage Lease offers advantageous storage options to lessees, enabling them to optimize their gas storage capacity and ensure uninterrupted gas supply during peak demands or unexpected disruptions in the gas market. The lessee gains exclusive rights to store and withdraw natural gas within the leased storage fields or reservoirs. These facilities are typically located in key geographical regions, facilitating efficient distribution and reducing transportation costs. There are various types of Hillsborough Florida Gas Storage Leases available, each catering to different storage needs and requirements: 1. Base Gas Storage Lease: This type of lease allows the lessee to store a predetermined volume of natural gas, known as base gas, for long-term use. Base gas is intended to maintain a minimum pressure within the storage reservoir to ensure proper functioning and withdrawal of stored gas. 2. Working Gas Storage Lease: Unlike the base gas storage lease, this type permits the lessee to store additional working gas reserves that can be injected or withdrawn seasonally, based on demand fluctuations. Working gas storage leases offer flexible storage capacity to effectively manage seasonal variations in gas consumption and market demand. 3. Cushion Gas Storage Lease: This lease involves the storage of gas reserves above the working gas level to provide a cushion or buffer capacity that safeguards against abrupt pressure drops or potential operational issues. Cushion gas helps maintain reservoir stability and ensures smooth gas withdrawal during peak demand periods. 4. Peak Shaving Gas Storage Lease: This type of lease is designed to meet unusually high or unexpected gas demands during specific periods. Peak shaving storage leases allow the lessee to store additional supplies for a short period, typically during winter or when demand spikes due to severe weather conditions or unforeseen circumstances. The Hillsborough Florida Gas Storage Lease provides an opportunity for lessees to mitigate supply risks, enhance operational resilience, and optimize the use of natural gas resources for energy needs. The lease terms and conditions may vary depending on factors such as storage capacity, duration, rates, and specific requirements outlined by the lessor or storage facility operator.

The Hillsborough Florida Gas Storage Lease is a legal agreement that allows the lessee to utilize underground storage facilities located in Hillsborough County, Florida, for the storage of natural gas. This lease provides a unique opportunity for energy companies, utilities, and other relevant entities to store natural gas reserves in strategically located underground facilities in Hillsborough County, ensuring adequate supply and smooth operation of gas distribution networks. The Hillsborough Florida Gas Storage Lease offers advantageous storage options to lessees, enabling them to optimize their gas storage capacity and ensure uninterrupted gas supply during peak demands or unexpected disruptions in the gas market. The lessee gains exclusive rights to store and withdraw natural gas within the leased storage fields or reservoirs. These facilities are typically located in key geographical regions, facilitating efficient distribution and reducing transportation costs. There are various types of Hillsborough Florida Gas Storage Leases available, each catering to different storage needs and requirements: 1. Base Gas Storage Lease: This type of lease allows the lessee to store a predetermined volume of natural gas, known as base gas, for long-term use. Base gas is intended to maintain a minimum pressure within the storage reservoir to ensure proper functioning and withdrawal of stored gas. 2. Working Gas Storage Lease: Unlike the base gas storage lease, this type permits the lessee to store additional working gas reserves that can be injected or withdrawn seasonally, based on demand fluctuations. Working gas storage leases offer flexible storage capacity to effectively manage seasonal variations in gas consumption and market demand. 3. Cushion Gas Storage Lease: This lease involves the storage of gas reserves above the working gas level to provide a cushion or buffer capacity that safeguards against abrupt pressure drops or potential operational issues. Cushion gas helps maintain reservoir stability and ensures smooth gas withdrawal during peak demand periods. 4. Peak Shaving Gas Storage Lease: This type of lease is designed to meet unusually high or unexpected gas demands during specific periods. Peak shaving storage leases allow the lessee to store additional supplies for a short period, typically during winter or when demand spikes due to severe weather conditions or unforeseen circumstances. The Hillsborough Florida Gas Storage Lease provides an opportunity for lessees to mitigate supply risks, enhance operational resilience, and optimize the use of natural gas resources for energy needs. The lease terms and conditions may vary depending on factors such as storage capacity, duration, rates, and specific requirements outlined by the lessor or storage facility operator.

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FAQ

Every gas well drilled in such pool: a) Shall be on a drilling unit consisting of (1) one hundred sixty (160) contiguous surface acres, or (2) a governmental quarter section containing not less than one hundred forty- four (144) acres or more than one hundred seventy-six (176) acres.

The majority of these wells have a production rate ranging between 15 and 100 barrels of oil equivalent per day.

More than half of U.S. oil and natural gas production comes from wells that produce between 100 barrels of oil equivalent per day (BOE/d) and 3,200 BOE/d (Figures 3 and 4, respectively).

After completion, a well can produce for as long as 20 to 40 years?providing energy and long-term revenue to governments and mineral owners and sustaining local jobs.

?When you take a look at this well, how much natural gas are you going to use a year?? he asks, noting that a domestic well could save a typical farm owner between $1,500 to $2,500 annually. Oil from the well could generate another $800-$1,200 per year.

Natural gas is not stored in household tanks because the symmetry of its molecule makes it hard to liquify. You could store methane in a tank in the gas state but it has such low density in the gas state that you could not store a usable amount.

Typical time: Each well can be drilled in 14 to 25 days. Rig mobilization in and out takes approximately 2 to 3 days. A rig may be on site to drill multiple wells extending the time by 14 to 25 days per well.

Producing natural gas (25 to 40 years): A natural gas well can produce gas for up to four decades, and all the while it's monitored to ensure continual well integrity.

Natural gas is held in underground storage facilities in order to increase the reliability of natural gas supply throughout the year. Natural gas is injected into storage during the summer months when demand is lower and withdrawn during winter months when demand for space heating increases.