Colorado Gas Processing Rights Agreement is a legal document that governs the rights and obligations related to the processing of natural gas in the state of Colorado, United States. It outlines the terms and conditions under which gas producers grant processing rights to gas processors, who are responsible for converting raw natural gas into marketable products. The agreement covers various aspects, including the duration of the agreement, ownership of the gas, the scope of processing activities, and the sharing of costs and revenues. It also establishes the conditions under which either party can terminate the agreement. There are different types of Colorado Gas Processing Rights Agreements, each tailored to specific situations and parties involved: 1. Standard Gas Processing Rights Agreement: This is the most common type of agreement and is typically negotiated between gas producers and gas processors. It covers the processing of natural gas extracted from Colorado's oil and gas fields. 2. Midstream Gas Processing Rights Agreement: This agreement is specific to midstream companies that operate processing facilities and infrastructure, such as gathering systems and pipelines. It outlines the rights and responsibilities of these midstream entities in processing and transporting natural gas. 3. Third-Party Gas Processing Rights Agreement: This agreement involves a gas producer granting processing rights to a third-party processor instead of an affiliated or integrated processor. It may be entered into when the gas producer seeks to leverage the specialized capabilities or expertise of a specific third-party processor. 4. Integrated Gas Processing Rights Agreement: This type of agreement is entered into between vertically integrated companies, where the gas producer and processor are part of the same corporate entity. It outlines the internal arrangements and responsibilities for processing and transferring natural gas within the company. Colorado Gas Processing Rights Agreements are crucial in ensuring the efficient and cost-effective processing of natural gas resources in Colorado. They provide legal clarity and a framework for collaboration between gas producers and processors, ensuring a fair distribution of costs, risks, and revenues associated with gas processing activities.
Colorado Gas Processing Rights Agreement
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In April, the Biden administration increased the royalty rate for new oil, natural gas and coal leases to 18.75% from 12.5% and the federal Bureau of Land Management, which oversees mineral leasing, raised the fees for dozens of types of applications, permits and renewals.
form agreement for gas gathering services between a midstream company as the gatherer, and an upstream exploration and production company as the shipper. This Standard Document assumes, among other things, an existing gathering system that does not require expansions.
Maximum Daily Quantity (MDQ): The maximum quantity of gas consumed by a customer in a 24-hour period. An LDC may set delivery obligations or delivery limits based on a customer's MDQ.
Pooling Point means a logical point where supply is aggregated or disaggregated; this point is not a physical point in the System, but is used solely for nomination and scheduling purposes in order to allow Shipper to aggregate gas supplies.
(f) "Maximum Daily Quantity" (MDQ) means a quantity of gas, as specified in the transportation contract between the customer and the Company, that is based on the customer's historical peak-month usage (determined from the customer's 36-month base period) plus adjustments for known or expected changes.
As a general rule of thumb, the mineral rights value in Colorado for leased mineral rights is 2x to 3x the total amount of your lease bonus. For example, if you leased your mineral rights for $100,000 you could expect to sell for $200,000 to $300,000.
The term "Maximum Daily Quantity" or "MDQ" shall mean the total maximum MMBtu which Company shall be obligated to receive or deliver on a firm basis on any given day on behalf of customer.
By Colorado law, the mineral rights are considered the "dominant estate" and the surface owner may not prevent the mineral rights holder from "entering up and using that amount of the surface that is reasonable and necessary to explore for, develop and produce" the minerals.