Fairfax Virginia Amendment to Oil, Gas and Mineral Lease (to Provide for Gas Storage)

State:
Multi-State
County:
Fairfax
Control #:
US-OG-930
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Description

This form is an amendment to oil, gas and mineral lease to provide for gas storage.

The Fairfax Virginia Amendment to Oil, Gas and Mineral Lease (to Provide for Gas Storage) is a legal provision implemented in Fairfax County, Virginia, with the aim of incorporating regulations governing the establishment and management of gas storage facilities within the jurisdiction. This amendment serves to define the terms and conditions for leasing and leasing-related activities concerning oil, gas, and mineral reserves, primarily focusing on the inclusion of provisions associated with gas storage. Gas storage plays a crucial role in the energy sector, providing a means to maintain a stable supply and demand balance in the natural gas market. Understanding the importance of this aspect, Fairfax County has introduced the Fairfax Virginia Amendment to Oil, Gas and Mineral Lease to ensure effective management and utilization of gas storage facilities. This amendment puts forth various guidelines and criteria for potential lessees interested in establishing and operating gas storage infrastructure. It outlines the requirements and procedures for obtaining the necessary permits and licenses, ensuring compliance with environmental regulations and safety protocols. The amendment aims to minimize potential risks associated with gas storage and ensure the protection of both public safety and the environment. The Fairfax Virginia Amendment to Oil, Gas and Mineral Lease (to Provide for Gas Storage) accounts for different types of gas storage facilities, which include underground storage tanks (Uses), depleted oil and gas reservoirs, and aquifer storage and recovery (ASR) systems. These various storage methods offer flexibility in meeting the region's energy demands, allowing for stable, continuous supply during peak usage periods or emergencies. The amendment addresses key aspects such as facility design specifications, operational procedures, and ongoing monitoring requirements for gas storage facilities. It emphasizes the need for regular inspections, maintenance, and testing of the facilities to ensure their integrity and prevent any potential leaks or accidents. Moreover, the Fairfax Virginia Amendment encourages cooperation between gas storage operators and relevant agencies to develop emergency response plans, contingency measures, and public communication strategies to ensure preparedness in the event of any unforeseen incidents. By incorporating such provisions, the amendment aims to maximize safety, protect public health, and minimize any adverse impacts on the environment. Overall, the Fairfax Virginia Amendment to Oil, Gas and Mineral Lease (to Provide for Gas Storage) establishes a comprehensive framework for the effective planning, development, and operation of gas storage facilities in Fairfax County. Its implementation ensures the proper management and utilization of gas storage infrastructure while safeguarding the interests of the community and the environment at large.

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FAQ

The period of time in the life of an oil & gas lease that begins after the expiration of the primary term. Production, operations, continuous drilling, or shut-in royalty payments are most often used to extend an oil & gas lease into its secondary term.

The Mineral Leasing Act of 1920 (MLA) regulates the leasing of public lands for the development of several mineral resources, including coal, oil, natural gas, other hydrocarbons, and other minerals.

A mineral owner's rights typically include the right to use the surface of the land to access and mine the minerals owned. This might mean the mineral owner has the right to drill an oil or natural gas well, or excavate a mine on your property.

The primary term is the initial period during which a well may be drilled. If a successful well is drilled within the primary term, the lease will extend for as long as the well remains productive. If a well is not drilled within the primary term, the lease will usually expire.

In times of a low natural gas prices and reduced drilling, Lease Amendments, Modifications and Ratifications may become common. Gas companies may attempt to revive or restore a expired lease by presenting the royalty owner with a Lease Modification and Amendment.

(a) (1) Any lease of oil or natural gas rights or any other conveyance of any kind separating such rights from the freehold estate of land shall expire at the end of ten (10) years from the date executed, unless, at the end of such ten (10) years, natural gas or oil is being produced from such land for commercial

A mineral lease is a contractual agreement between the owner of a mineral estate (known as the lessor), and another party such as an oil and gas company (the lessee). The lease gives an oil or gas company the right to explore for and develop the oil and gas deposits in the area described in the lease.

Previous to the act, these materials were subject to mining claims under the General Mining Act of 1872....Mineral Leasing Act of 1920. Enacted bythe 66th United States CongressEffectiveFebruary 25, 1920CitationsPublic lawPub.L. 66146Statutes at Large41 Stat. 4379 more rows

A mineral lease is a contractual agreement between the owner of a mineral estate (known as the lessor), and another party such as an oil and gas company (the lessee). The lease gives an oil or gas company the right to explore for and develop the oil and gas deposits in the area described in the lease.

Section 181 et seq.) - The Mineral Leasing Act established the authority of the Secretary of the Interior to oversee oil and gas operations on federal land.

More info

Approach to adverse possession of mineral leases in the Pool case and its progeny. Companies chase reserves that are increasingly difficult to extract, the costs of producing oil and gas are rising.1: Shale gas production in the UK under four different scenarios . Most employees begin their careers in the warehouse setting, becoming experts in Costco merchandising and operations. 3.2 Greenhouse Gas Emissions Cause Climate Change5. Geological Survey (U. Department of Commerce.

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Fairfax Virginia Amendment to Oil, Gas and Mineral Lease (to Provide for Gas Storage)