This form is used for the purposes of more effectively developing, producing, and operating the Unit Area in order to prevent surface and underground waste, and obtain the greatest ultimate recovery of production of oil and gas, promote conservation, and to afford each of the Parties the right to recover their fair and equitable share of the production to be obtained from the Unit Area, or to receive the attributable proceeds of such production.
Michigan Gas Storage and Secondary Recovery Unit Agreement
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Multi-State
Control #:
US-OG-774
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Word;
Rich Text
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FAQ
A mineral right is a property right and may be sold, transferred, or leased similar to other property rights. Mineral rights are distinct from ?surface rights,? or the right to the use of the surface of the land for residential, agricultural, recreational, commercial, or other purposes.
Michigan has a Dormant Mineral Act, mineral rights revert back to the surface unless one of the following conditions is met: The severed interest is sold, leased, mortgaged, or transferred by recorded instrument. A drilling permit is issued. Oil or gas is actually produced or withdrawn from the severed property.
Michigan's available underground natural gas storage is significant. With about 671 billion cubic feet (19 billion cubic meters) of working gas capacity, EIA statistics show that Michigan has more storage than any other state.
Mineral rights ownership information can be found with the register of deeds in the county where the land is located.
Can Severed Mineral Rights be Retained Indefinitely? Under Michigan law (Act 42 of 1963, Termination of Oil or Gas Interests in Land), severed oil or gas rights revert to the surface owner after twenty years unless one of the following actions have occurred within the 20-year period: ? A drilling permit is issued.
The Dormant Minerals Act is a Michigan law that causes severed oil and gas rights to be abandoned (lost) if the owner allows more than 20 years to pass without doing one of the following: Recording at the register of deed's office a sale, lease, mortgage or transfer of the severed interest.