Idaho Carbon Dioxide Storage Lease (with Landowner)

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Multi-State
Control #:
US-OG-952
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This form is a carbon dioxide storage lease with landowner.
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  • Preview Carbon Dioxide Storage Lease (with Landowner)
  • Preview Carbon Dioxide Storage Lease (with Landowner)
  • Preview Carbon Dioxide Storage Lease (with Landowner)
  • Preview Carbon Dioxide Storage Lease (with Landowner)
  • Preview Carbon Dioxide Storage Lease (with Landowner)

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FAQ

Ownership of pore space underlying surfaces. (a) The ownership of all pore space in all strata below the surface lands and waters of this state is declared to be vested in the several owners of the surface above the strata.

Landowners can participate in a carbon lease through carbon sequestration that is stored in the soil or through trees on the property. This is known as carbon offsets or carbon sequestration. Landowners can also lease their previously drilled wells to store carbon underground.

Under American rule, the mineral estate holder owns the minerals but not the geologic formation. The surface owner owns the geologic pore space and has storage rights.

Pore space ownership in the United States varies from state to state and can be owned by the State, by the U.S. government or private individuals. In other countries, subsurface rights are controlled entirely by the government.

Absolutely! Farmers and landowners can sell carbon credits because ALL land can store carbon. Landowners are eligible to receive carbon credits at the rate of one per every ton of CO2 their land sequesters.

Pore Space Law Some states, like Oklahoma, have specific statutes that recognize that the pore space is owned by the surface owner.

Alaska has important competitive advantages for the development of a CCUS industry. The State owns the pore space used for storage under State lands, which allows leasing of large contiguous storage sites.

An acre of land used for carbon sequestration or other methodologies for reducing a carbon footprint generally removes 0.2 to 1.5 metric tons of carbon annually. Given that these CO2 reductions are worth $15 to $20 per metric ton, whoever owns that acre of land can expect payments of $3 to $30 per year per acre.

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Idaho Carbon Dioxide Storage Lease (with Landowner)