Ground Water Lease Formed

Category:

Oil Gas and Minerals - Leases

State:

Multi-State

Control #:

US-OG-1019

Format:

Instant download

Description

The Ground Water Lease is a legal document entered into between a Lessor and Lessee for the leasing of land for water extraction purposes. The form outlines the rights and obligations of both parties regarding the exploration, production, and management of groundwater resources on the specified land. Key features include detailed descriptions of the leased land, royalty calculations based on water sales, a net profits sharing arrangement, and provisions for minimum guarantees and pooling with other lands. Filling and editing the form requires accurately detailing the addresses, land description, and financial terms, while understanding the implications of the rights granted to both parties. The use cases for this form may vary across the audience: attorneys can use it for client advisement on leasing negotiations, partners and owners for securing groundwater rights, associates and paralegals for document preparation, and legal assistants in maintaining compliance and record keeping. This document serves a critical role in ensuring that all parties clearly understand their rights, obligations, and financial arrangements concerning groundwater production.

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FAQ

The amount of water leased shall not exceed 25 percent of the water that would have been applied or stored by the lessor in the absence of the lease agreement in any given hydrological year.

Generally, Texas groundwater belongs to the landowner. Groundwater is governed by the rule of capture, which grants landowners the right to capture the water beneath their property.

Some states, including California, have systems in place for buying and selling water rights, either on a temporary or permanent basis. Between 2009 and 2018, water rights holders in California leased an average of over 1 million acre-feet of water per year, a total of $295 million dollars annually.

Landowners may obtain a water right by applying for a permit from the Texas Commission on Environmental Quality (TCEQ). After obtaining a permit, the landowner can use surface water for domestic, agricultural, industrial, and other beneficial uses.

Water that has travelled down from the soil surface and collected in the spaces between sediments and the cracks within rock is called groundwater. Groundwater fills in all the empty spaces underground, in what is called the saturated zone, until it reaches an impenetrable layer of rock.