This lease rider form may be used when you are involved in a lease transaction, and have made the decision to utilize the form of Oil and Gas Lease presented to you by the Lessee, and you want to include additional provisions to that Lease form to address specific concerns you may have, or place limitations on the rights granted the Lessee in the “standard” lease form.
Broward Florida Offset Well Protection and Payment of Compensatory Royalty is a regulatory mechanism implemented in Broward County, Florida to safeguard the environment, public health, and natural resources during the drilling and production activities in the oil and gas industry. The primary objective of Broward Florida Offset Well Protection is to ensure that new oil and gas wells drilled in the county do not adversely impact existing wells or groundwater resources. This is achieved by imposing certain zoning restrictions, setbacks, and well spacing requirements that prevent interference between wells and reduce the risk of contamination or overexploitation of aquifers. In addition to the protective measures, Broward Florida also requires companies operating new wells to pay a Compensatory Royalty. This royalty serves as financial compensation for potential environmental damage and disturbance caused by drilling operations. The funds collected through the Compensatory Royalty are utilized towards environmental preservation, reclamation of damaged areas, and monitoring activities to maintain the ecological balance. There are various types of Broward Florida Offset Well Protection and Payment of Compensatory Royalty, including: 1. Zoning Restrictions: Broward County establishes zoning regulations that outline where oil and gas well operations are allowed. These restrictions ensure that drilling activities are limited to appropriate areas, considering factors such as land use, sensitive habitats, and proximity to residential zones. 2. Setbacks: Setbacks dictate the minimum distance between wells and sensitive areas like residential areas, schools, water bodies, and protected lands. These setback requirements help mitigate potential risks associated with noise pollution, air pollution, and accidental spills. 3. Well Spacing Requirements: Broward Florida implements specific regulations regarding the proximity of oil and gas wells to each other. These rules ensure that adequate spacing is maintained between wells to prevent interferences and complications that could arise from extraction activities. 4. Compensatory Royalty Payments: Companies seeking drilling permits in Broward Florida are obligated to pay a Compensatory Royalty fee. This fee is determined by the potential environmental impact of the drilling operation and is used to mitigate and compensate for these impacts. By implementing Broward Florida Offset Well Protection and Payment of Compensatory Royalty, the county aims to strike a balance between promoting economic growth in the oil and gas industry while safeguarding the environment, public health, and natural resources for the benefit of present and future generations.
