Indiana Surface Use Compensation Agreement

State:
Multi-State
Control #:
US-OG-146
Format:
Word; 
Rich Text
Instant download

Description

This Agreement contemplates the lessor in an oil and gas lease is also the surface owner. It provides for the lessee to pay specific sums for each enumerated activity the lessee conducts on the land covered by the oil and gas lease and this Agreement.
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FAQ

A surface use agreement, which is also sometimes referred to as a land use agreement, is an agreement between the landowner and an oil and gas company or an operator for the use of the landowner's land in the development of the oil and gas.

A surface use agreement, which is also sometimes referred to as a land use agreement, is an agreement between the landowner and an oil and gas company or an operator for the use of the landowner's land in the development of the oil and gas.

Concerning land ownership and property law, subsurface rights can allow a property owner to discover and utilize anything extracted from underneath a property without interference from a second party. Purchasing both rights for a property is possible.

Subsurface means in a well, or below the surface of the ground. Seismic surveys are used to find subsurface rock structures that may contain hydrocarbons. Directional wells can be used to drill multiple wells from a common drilling pad or to reach a subsurface location beneath land where drilling cannot be done.

Subsurface rights usually include the right to oil, minerals and even water that's found beneath the land's surface.

Subsurface rights means the rights to all minerals, mineral fuels, and other resources, including, but not limited to, oil, gas, coal, oil shale, uranium, metals, and phosphate, whether or not they are mixed with any other substance found or located beneath the surface of the earth.

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Indiana Surface Use Compensation Agreement