Harris 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
• County: Harris
• 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. Harris 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 legally binding agreement that allows a surface owner in Harris County, Texas to grant a lease for the storage of underground gas within their property without providing any rights to utilize the surface of the land being leased. This agreement is commonly used in the realm of oil and gas industry where the need for underground gas storage arises. In this type of agreement, the surface owner retains ownership and control of the surface of the land, while granting the lessee exclusive rights to store and extract natural gas from the subsurface storage reservoirs. The lessee, typically an energy company or a gas storage operator, assumes responsibility for all activities related to the underground gas storage operation, including drilling, operation, maintenance, and decommissioning. The Harris Texas Subsurface Underground Gas Storage Lease and Agreement may have various types or categories based on specific details outlined in the contract. These different types could include: 1. Term of Lease: The agreement may stipulate a fixed duration during which the lessee has the right to use the subsurface for gas storage. It may be a short-term lease, such as a month-to-month or annual lease, or a long-term lease spanning several years. 2. Storage Capacity: Depending on the geological characteristics of the land, the agreement may specify the storage capacity available to the lessee. This could be measured in cubic feet or any other appropriate metric. 3. Payment Terms: The agreement will outline the financial terms, including the compensation to be paid to the surface owner by the lessee for the right to store gas underground. This could be a fixed fee, revenue-sharing based on gas production, or a combination of both. 4. Insurance and Liability: The contract will clearly define the responsibilities and liabilities of both the surface owner and the lessee. This will include insurance requirements, indemnification clauses, and provisions for potential damages that may arise from the gas storage operations. 5. Regulatory Compliance: The agreement may address compliance with local, state, and federal regulations governing gas storage activities, ensuring that all necessary permits, licenses, and environmental assessments are obtained and adhered to throughout the lease term. It is important to note that the specific details and types of the Harris Texas Subsurface Underground Gas Storage Lease and Agreement can vary depending on the needs and negotiations between the parties involved. Legal counsel experienced in oil and gas agreements should be consulted to ensure that the contract meets all applicable laws and protects the interests of both the surface owner and the lessee.

Harris 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 legally binding agreement that allows a surface owner in Harris County, Texas to grant a lease for the storage of underground gas within their property without providing any rights to utilize the surface of the land being leased. This agreement is commonly used in the realm of oil and gas industry where the need for underground gas storage arises. In this type of agreement, the surface owner retains ownership and control of the surface of the land, while granting the lessee exclusive rights to store and extract natural gas from the subsurface storage reservoirs. The lessee, typically an energy company or a gas storage operator, assumes responsibility for all activities related to the underground gas storage operation, including drilling, operation, maintenance, and decommissioning. The Harris Texas Subsurface Underground Gas Storage Lease and Agreement may have various types or categories based on specific details outlined in the contract. These different types could include: 1. Term of Lease: The agreement may stipulate a fixed duration during which the lessee has the right to use the subsurface for gas storage. It may be a short-term lease, such as a month-to-month or annual lease, or a long-term lease spanning several years. 2. Storage Capacity: Depending on the geological characteristics of the land, the agreement may specify the storage capacity available to the lessee. This could be measured in cubic feet or any other appropriate metric. 3. Payment Terms: The agreement will outline the financial terms, including the compensation to be paid to the surface owner by the lessee for the right to store gas underground. This could be a fixed fee, revenue-sharing based on gas production, or a combination of both. 4. Insurance and Liability: The contract will clearly define the responsibilities and liabilities of both the surface owner and the lessee. This will include insurance requirements, indemnification clauses, and provisions for potential damages that may arise from the gas storage operations. 5. Regulatory Compliance: The agreement may address compliance with local, state, and federal regulations governing gas storage activities, ensuring that all necessary permits, licenses, and environmental assessments are obtained and adhered to throughout the lease term. It is important to note that the specific details and types of the Harris Texas Subsurface Underground Gas Storage Lease and Agreement can vary depending on the needs and negotiations between the parties involved. Legal counsel experienced in oil and gas agreements should be consulted to ensure that the contract meets all applicable laws and protects the interests of both the surface owner and the lessee.