Mecklenburg North Carolina Subsurface Underground Gas Storage Lease and Agreement (With Landowner; Long Form) Overview: A Mecklenburg North Carolina Subsurface Underground Gas Storage Lease and Agreement (With Landowner; Long Form) is a legally binding contract between a gas company and a landowner in Mecklenburg County, North Carolina. This agreement allows the gas company to store and extract natural gas from underground storage facilities located beneath the landowner's property. It outlines the terms and conditions, rights, and obligations of both parties involved. Key Provisions: 1. Parties involved: The agreement includes the identification of the gas company and the landowner, stating their names, addresses, and contact information. 2. Grant of rights: This section specifies that the landowner grants the gas company the exclusive right to construct, maintain, and operate underground gas storage facilities under the property for the purpose of storing natural gas. 3. Term and termination: The agreement defines the duration of the lease, including the initial term and any potential renewal periods. It also outlines conditions under which either party can terminate the agreement, such as non-compliance with specific obligations or force majeure events. 4. Compensation and royalties: This provision details the compensation the landowner will receive in exchange for granting the gas company access to their property. It includes payment terms, frequency, and any applicable royalties based on the amount of gas stored or extracted. 5. Storage operations: The agreement describes the gas company's responsibilities regarding the construction, maintenance, and operations of the underground storage facilities. It may include safety measures, monitoring procedures, and environmental protection requirements. 6. Landowner obligations: This section outlines the landowner's obligations, such as providing the necessary access rights, maintaining the surface area, and preventing interference with the gas company's operations. 7. Indemnification and liability: The agreement establishes the respective liabilities of both parties in case of property damage, personal injury, or environmental issues. It may include provisions for insurance coverage and indemnification. 8. Confidentiality and trade secrets: This provision protects any proprietary or confidential information shared between the parties during the lease term, and restricts its disclosure to third parties. 9. Governing law and jurisdiction: The agreement specifies the laws of Mecklenburg County, North Carolina, as the governing law for any disputes arising from the agreement. It also identifies the jurisdiction in which any legal proceedings would take place. Types of Mecklenburg North Carolina Subsurface Underground Gas Storage Lease and Agreement: While the long form agreement described above is a comprehensive contract encompassing all the essential provisions, there may be variations or alternative forms of the lease agreement depending on factors such as the specific gas company involved, the complexity of the project, or unique provisions required by either party. These variations might include a short form agreement, an agreement with additional provisions for surface rights and land use, or an agreement specifically tailored for certain subterranean geological conditions. Conclusion: A Mecklenburg North Carolina Subsurface Underground Gas Storage Lease and Agreement (With Landowner; Long Form) is a vital legal document that governs the relationship between a gas company and a landowner in Mecklenburg County. By clearly defining the rights, responsibilities, and compensation of both parties, this agreement ensures a mutually beneficial and legally sound arrangement for the storage and extraction of natural gas within the specified property.
Mecklenburg North Carolina Subsurface Underground Gas Storage Lease and Agreement (With Landowner; Long Form)
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FAQ
Oil and gas wells can range in depth from a few hundred feet to more than 20,000 feet. In some parts of the world, wells go as deep as 30,000 feet, Zdarko says. Ranging from 1,000 to 2,500 feet deep, Aera's San Joaquin Valley wells are considered shallow.
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.
Typically a new well drilled in the WNF will require, on average, a 0.69-acre well-pad area (150 by 200 ft.) to be cleared and leveled. Wells drilled to formations over 5,000 feet deep use a larger drill rig and would need a 1.1 acre (250 by 200 ft.) well pad area cleared.
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).
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.
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.
Field rules might establish density rules of 40 acres per well up to 640 acres per well. Density rules for gas reservoirs generally provide for larger proration units than oil wells because wells in conventional gas reservoirs are able to drain a larger area than wells in conventional oil reservoirs.
The area needed for a well pad which typically ranges from 5-10 acres in size, depending on how many wells may ultimately be drilled on it, which may be just one or more than twenty.
The majority of these wells have a production rate ranging between 15 and 100 barrels of oil equivalent per day.
How is Natural Gas Stored? Natural gas is stored underground primarily in three reservoir types: depleted oil and natural gas fields, salt formations and depleted aquifers. Natural gas may also be stored above ground in refrigerated tanks as liquefied natural gas (LNG).