Phoenix Arizona 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
• City: Phoenix
• 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 surface owner in Phoenix, Arizona who doesn't have the right to use the surface of their land can enter into a Subsurface Underground Gas Storage Lease and Agreement. This agreement allows a gas storage company to lease the underground space on the property for the purpose of storing natural gas. In this arrangement, the surface owner retains ownership of the land but grants the gas storage company the exclusive right to use the subsurface area. The lease agreement outlines the terms and conditions of the lease, including the duration of the lease, the storage capacity, and the financial arrangements such as the rental payments and any royalty agreements. There are different types of Subsurface Underground Gas Storage Lease and Agreement options available in Phoenix, Arizona, depending on the specific needs and requirements of the surface owner and the gas storage company. Some variations include: 1. Term-based Lease: This type of agreement has a fixed term, usually ranging from a few years to several decades. The term-based lease provides a time-limited arrangement for the gas storage company to utilize the subsurface space for gas storage. 2. Capacity-based Lease: In a capacity-based lease, the agreement is structured around the storage capacity provided by the surface owner. The lease terms focus on the volume of gas that can be stored, and the rental payments and other financial considerations are determined based on this capacity. 3. Royalty-based Lease: This type of lease involves the surface owner receiving a percentage of the revenue generated from the gas storage operations as a royalty payment. The agreement outlines the royalty rates and the conditions for its calculation and distribution. 4. Underground Facility Maintenance Agreement: This additional agreement can be included to ensure that the gas storage company is responsible for maintaining the underground facilities, including any infrastructure related to gas storage. This agreement helps protect the surface owner from any damages resulting from the storage operations. These are just a few examples of the different types of Subsurface Underground Gas Storage Lease and Agreement options available in Phoenix, Arizona. It is crucial for both the surface owner and the gas storage company to carefully examine their needs and expectations to tailor the agreement accordingly. Legal counsel should be sought to ensure compliance with local regulations and to protect the interests of all parties involved.

A surface owner in Phoenix, Arizona who doesn't have the right to use the surface of their land can enter into a Subsurface Underground Gas Storage Lease and Agreement. This agreement allows a gas storage company to lease the underground space on the property for the purpose of storing natural gas. In this arrangement, the surface owner retains ownership of the land but grants the gas storage company the exclusive right to use the subsurface area. The lease agreement outlines the terms and conditions of the lease, including the duration of the lease, the storage capacity, and the financial arrangements such as the rental payments and any royalty agreements. There are different types of Subsurface Underground Gas Storage Lease and Agreement options available in Phoenix, Arizona, depending on the specific needs and requirements of the surface owner and the gas storage company. Some variations include: 1. Term-based Lease: This type of agreement has a fixed term, usually ranging from a few years to several decades. The term-based lease provides a time-limited arrangement for the gas storage company to utilize the subsurface space for gas storage. 2. Capacity-based Lease: In a capacity-based lease, the agreement is structured around the storage capacity provided by the surface owner. The lease terms focus on the volume of gas that can be stored, and the rental payments and other financial considerations are determined based on this capacity. 3. Royalty-based Lease: This type of lease involves the surface owner receiving a percentage of the revenue generated from the gas storage operations as a royalty payment. The agreement outlines the royalty rates and the conditions for its calculation and distribution. 4. Underground Facility Maintenance Agreement: This additional agreement can be included to ensure that the gas storage company is responsible for maintaining the underground facilities, including any infrastructure related to gas storage. This agreement helps protect the surface owner from any damages resulting from the storage operations. These are just a few examples of the different types of Subsurface Underground Gas Storage Lease and Agreement options available in Phoenix, Arizona. It is crucial for both the surface owner and the gas storage company to carefully examine their needs and expectations to tailor the agreement accordingly. Legal counsel should be sought to ensure compliance with local regulations and to protect the interests of all parties involved.