The Oakland Michigan Amendment to Oil, Gas, and Mineral Lease (to Provide for Gas Storage) is a legal document that outlines the terms and conditions for utilizing underground gas storage facilities in Oakland County, Michigan. This amendment addresses the specific provisions regarding gas storage operations in the designated area and ensures compliance with regulatory requirements and environmental protection measures. Key provisions in the Oakland Michigan Amendment to Oil, Gas, and Mineral Lease (to Provide for Gas Storage) include: 1. Gas Storage Rights: This amendment grants the lessee the exclusive rights to utilize the designated subsurface area for the storage of natural gas for commercial purposes. It outlines the duration and conditions under which the rights remain valid. 2. Storage Operations: The amendment specifies the operational guidelines for gas storage activities, including drilling and construction procedures, maintenance, and safety protocols. It emphasizes the importance of adhering to industry best practices minimizing potential risks and ensure proper functioning of the storage facilities. 3. Environmental Protection: The document highlights the lessee's responsibility to protect the environment during gas storage operations. It requires compliance with all relevant federal, state, and local laws governing environmental conservation, waste disposal, and monitoring. 4. Liability and Indemnification: The amendment addresses liability insurance requirements, indemnification clauses, and the lessee's responsibility for any damages, injuries, or losses resulting from their gas storage operations. These provisions aim to safeguard the lessor and surrounding communities in case of accidents or incidents. 5. Reporting and Royalties: The amendment may include provisions for the lessee to report gas storage activities regularly to the lessor. It also establishes the terms for royalty payments, outlining how the lessor will receive compensation for the extraction and storage of gas. It is worth noting that this amendment may have different types or versions, depending on specific circumstances, evolving regulations, or unique agreements between parties involved. Some variations may focus on additional stipulations regarding technology advancements, monitoring equipment, emergency response plans, or other specific aspects related to gas storage in Oakland County, Michigan.
Oakland Michigan Amendment to Oil, Gas and Mineral Lease (to Provide for Gas Storage)
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