Memorandum Lease Agreement With Utilities Included

• Category: Oil Gas and Minerals - Leases
• State: Multi-State
• Control #: US-OG-1038
• Format: Word; Rich Text

Description

The Memorandum Lease Agreement with Utilities Included outlines a formal understanding between the Lessor and Lessee regarding the lease of subsurface underground gas storage rights. This comprehensive document specifies the rights granted to the Lessee, including the ability to inject and store gas and other hydrocarbons in designated zones as detailed in Exhibit "A." Key features of the form include the acknowledgment of valuable consideration, the incorporation of all terms and conditions of the underlying agreement, and the specification of the initial term of the lease. Filling out the form entails providing the names of the parties, the date of the agreement, and the duration of the lease. This form is particularly useful for attorneys, partners, owners, associates, paralegals, and legal assistants who may need to facilitate agreements regarding gas storage operations. It provides a clear framework for managing the legalities of subsurface leasing, ensuring compliance and clarity in transactions. Additionally, the inclusion of utility terms is beneficial for various stakeholders involved in gas management and energy sectors.