Tarrant 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: Tarrant
• 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. Tarrant Texas Subsurface Underground Gas Storage Lease and Agreement In Tarrant County, Texas, the Subsurface Underground Gas Storage Lease and Agreement is a legally binding contract that allows a surface owner to grant rights for the storage of natural gas or other hydrocarbons beneath their land, without having any rights to use the surface of the granted lands. This arrangement is commonly used in areas where gas storage is prevalent, but surface use is restricted or incompatible with the property owner's needs. The primary purpose of the Tarrant Texas Subsurface Underground Gas Storage Lease and Agreement is to facilitate the development and operation of underground gas storage facilities, ensuring a safe and efficient storage process. The lease grants the lessee the exclusive right to construct, operate, and maintain gas storage wells and related infrastructure beneath the land for the storage of natural gas or other hydrocarbons. The agreement specifies the terms and conditions under which the gas storage operation will occur. Key elements typically covered within the agreement include: 1. Scope of the Lease: The lease clearly defines the area of land subject to the agreement's terms and outlines the specific location and dimensions of the underground storage area. 2. Lease Term: The duration of the lease is outlined, often spanning several decades, and may include provisions for potential extensions or early termination. 3. Financial Considerations: The agreement addresses financial aspects, including the payment of royalties or other compensation to the landowner based on the volume of gas stored or used. 4. Surface Use Restrictions: While the surface owner retains ownership of the land, they typically have no right to utilize the surface for any activities that may impede or hinder the underground gas storage operations. 5. Exploration and Development: The agreement may allow the lessee to conduct exploration and drilling activities necessary for the identification and development of suitable storage formations beneath the land. 6. Environmental and Safety Regulations: The lease incorporates compliance with all relevant federal, state, and local regulations concerning safety, environmental protection, and operational standards. 7. Indemnity and Liability: The agreement often includes provisions that indemnify the surface owner against any damages, losses, or liabilities resulting from the gas storage activities. It is worth noting that while there may be variations or specific provisions tailored to individual agreements, the Tarrant Texas Subsurface Underground Gas Storage Lease and Agreement generally shares similar core components across different contracts.

Tarrant Texas Subsurface Underground Gas Storage Lease and Agreement In Tarrant County, Texas, the Subsurface Underground Gas Storage Lease and Agreement is a legally binding contract that allows a surface owner to grant rights for the storage of natural gas or other hydrocarbons beneath their land, without having any rights to use the surface of the granted lands. This arrangement is commonly used in areas where gas storage is prevalent, but surface use is restricted or incompatible with the property owner's needs. The primary purpose of the Tarrant Texas Subsurface Underground Gas Storage Lease and Agreement is to facilitate the development and operation of underground gas storage facilities, ensuring a safe and efficient storage process. The lease grants the lessee the exclusive right to construct, operate, and maintain gas storage wells and related infrastructure beneath the land for the storage of natural gas or other hydrocarbons. The agreement specifies the terms and conditions under which the gas storage operation will occur. Key elements typically covered within the agreement include: 1. Scope of the Lease: The lease clearly defines the area of land subject to the agreement's terms and outlines the specific location and dimensions of the underground storage area. 2. Lease Term: The duration of the lease is outlined, often spanning several decades, and may include provisions for potential extensions or early termination. 3. Financial Considerations: The agreement addresses financial aspects, including the payment of royalties or other compensation to the landowner based on the volume of gas stored or used. 4. Surface Use Restrictions: While the surface owner retains ownership of the land, they typically have no right to utilize the surface for any activities that may impede or hinder the underground gas storage operations. 5. Exploration and Development: The agreement may allow the lessee to conduct exploration and drilling activities necessary for the identification and development of suitable storage formations beneath the land. 6. Environmental and Safety Regulations: The lease incorporates compliance with all relevant federal, state, and local regulations concerning safety, environmental protection, and operational standards. 7. Indemnity and Liability: The agreement often includes provisions that indemnify the surface owner against any damages, losses, or liabilities resulting from the gas storage activities. It is worth noting that while there may be variations or specific provisions tailored to individual agreements, the Tarrant Texas Subsurface Underground Gas Storage Lease and Agreement generally shares similar core components across different contracts.