Bexar Texas Amendment to Oil, Gas and Mineral Lease (to Provide for Gas Storage)

• Category: Oil Gas and Minerals - Leases
• State: Multi-State
• County: Bexar
• Control #: US-OG-930
• Format: Word; Rich Text

Description

This form is an amendment to oil, gas and mineral lease to provide for gas storage. The Bexar Texas Amendment to Oil, Gas, and Mineral Lease (to Provide for Gas Storage) refers to a legal document that allows for the inclusion of provisions related to gas storage within an existing lease agreement in Bexar County, Texas. This amendment ensures that the lessee (the party who holds the lease rights) has the authority to store and extract natural gas from the leased property, providing additional flexibility and economic potential. In Bexar County, Texas, there may be various types of amendments to oil, gas, and mineral leases concerning gas storage. These types can include: 1. Gas Storage Rights Amendment: This amendment grants the lessee the exclusive right to store natural gas within the leased property. It outlines specific terms and conditions related to the storage, such as the volume of gas that can be stored and the methods of extraction. 2. Storage Facility Development Amendment: This type of amendment allows the lessee to develop and operate a gas storage facility within the leased property. It encompasses arrangements related to constructing infrastructure, managing operations, and ensuring the safety and compliance of the facility. 3. Royalty and Payment Amendment: This amendment addresses the royalties and payments associated with gas storage activities. It establishes how royalties will be calculated, distributed, and reported to the lessor (the owner of the property) based on the volume and value of the stored gas. 4. Environmental Protection Amendment: The environmental impact of gas storage activity is crucial, so this amendment focuses on protecting the environment in and around the leased property. It outlines measures that the lessee must undertake to minimize any negative effects, such as monitoring gas storage operations, complying with safety regulations, and implementing preventive measures against potential leaks or accidents. 5. Lease Extension Amendment: As gas storage often requires a long-term commitment, this amendment may address extending the lease period to accommodate storage operations. Such an amendment ensures that the lessee has enough time to maximize the economic potential of the gas storage operation while maintaining the rights and interests of the lessor. In conclusion, the Bexar Texas Amendment to Oil, Gas, and Mineral Lease (to Provide for Gas Storage) is a legal instrument that allows for incorporating provisions related to gas storage within an existing lease agreement. By leveraging these amendments, lessees can tap into the potential benefits of gas storage, ensuring economic viability while adhering to environmental regulations and protection measures.

The Bexar Texas Amendment to Oil, Gas, and Mineral Lease (to Provide for Gas Storage) refers to a legal document that allows for the inclusion of provisions related to gas storage within an existing lease agreement in Bexar County, Texas. This amendment ensures that the lessee (the party who holds the lease rights) has the authority to store and extract natural gas from the leased property, providing additional flexibility and economic potential. In Bexar County, Texas, there may be various types of amendments to oil, gas, and mineral leases concerning gas storage. These types can include: 1. Gas Storage Rights Amendment: This amendment grants the lessee the exclusive right to store natural gas within the leased property. It outlines specific terms and conditions related to the storage, such as the volume of gas that can be stored and the methods of extraction. 2. Storage Facility Development Amendment: This type of amendment allows the lessee to develop and operate a gas storage facility within the leased property. It encompasses arrangements related to constructing infrastructure, managing operations, and ensuring the safety and compliance of the facility. 3. Royalty and Payment Amendment: This amendment addresses the royalties and payments associated with gas storage activities. It establishes how royalties will be calculated, distributed, and reported to the lessor (the owner of the property) based on the volume and value of the stored gas. 4. Environmental Protection Amendment: The environmental impact of gas storage activity is crucial, so this amendment focuses on protecting the environment in and around the leased property. It outlines measures that the lessee must undertake to minimize any negative effects, such as monitoring gas storage operations, complying with safety regulations, and implementing preventive measures against potential leaks or accidents. 5. Lease Extension Amendment: As gas storage often requires a long-term commitment, this amendment may address extending the lease period to accommodate storage operations. Such an amendment ensures that the lessee has enough time to maximize the economic potential of the gas storage operation while maintaining the rights and interests of the lessor. In conclusion, the Bexar Texas Amendment to Oil, Gas, and Mineral Lease (to Provide for Gas Storage) is a legal instrument that allows for incorporating provisions related to gas storage within an existing lease agreement. By leveraging these amendments, lessees can tap into the potential benefits of gas storage, ensuring economic viability while adhering to environmental regulations and protection measures.