Colorado Gas Processing Rights Agreement
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How to fill out Gas Processing Rights Agreement?
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FAQ
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.