The North Dakota Surface Use Compensation Agreement (SUA) is a legal contract that outlines the terms and conditions regarding the use of surface lands for oil, gas, and mineral exploration and extraction activities in the state of North Dakota. This agreement ensures fair compensation to surface landowners for any disturbance, damages, or inconveniences caused by the activities. The SUA is a crucial document as it establishes a mutually beneficial relationship between the mineral rights owner and the surface landowner. It allows the mineral rights' owner to access and utilize the subsurface resources while protecting the rights and interests of the surface landowner. There are various types of North Dakota Surface Use Compensation Agreement, including: 1. Standard SUA: This agreement lays out the standard terms and conditions for surface use compensation. It covers aspects such as payment rates, drilling operations, access roads, reclamation, indemnification, and liability. 2. Comprehensive SUA: This type of agreement encompasses additional provisions for more complex exploration and development projects. It may include requirements for environmental impact assessments, noise and light pollution mitigation, water management, and other specific regulations. 3. Temporary SUA: This agreement is applicable when surface use is required for a limited duration, such as for seismic surveys or short-term drilling operations. It stipulates the compensation terms for the temporary disturbance and the restoration of the land following completion of the activities. 4. Long-term SUA: In cases where ongoing exploration or production activities are anticipated, a long-term SUA is established. This agreement specifies the compensation terms for extended durations and provides guidelines for regular land inspections, monitoring, and maintenance. 5. Farm-out SUA: This type of agreement is relevant when a mineral rights owner wants to transfer the rights to another entity for exploration or extraction activities. The farm-out SUA outlines the compensation arrangements and responsibilities between the original mineral rights owner and the new operator. Keywords: North Dakota, Surface Use Compensation Agreement, SUA, surface lands, oil, gas, mineral exploration, extraction activities, disturbance, damages, compensation, surface landowners, mineral rights' owner, subsurface resources, access roads, reclamation, indemnification, liability, comprehensive, temporary, long-term, farm-out.
North Dakota Surface Use Compensation Agreement
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How to fill out Surface Use Compensation Agreement?
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FAQ
A mineral rights owner does not necessarily have to own the land property itself but must have a legal agreement with the property owner. In North Dakota, mineral rights can be transferred in three ways: deed, probate or court action.
Minerals include gold, silver, coal, oil, and gas. If you want to transfer the rights to these minerals to another party, you can do so in a variety of ways: by deed, will, or lease. Before you transfer mineral rights, you should confirm that you own the rights that you seek to transfer.
The mineral rights value in North Dakota is typically be between a few hundred per acre and a couple thousands per acre for non-producing/non-leased mineral rights. A lot will depend on which county you are in. If you have mineral rights in McKenzie County North Dakota you are going to see more demand than other areas.
Mineral interests last indefinitely as long as they are not abandoned. Minerals are considered abandoned when they have not been used or claimed for twenty or more years. Minerals are ?used? when some type of activity such as production, leasing, or conveying occurs under North Dakota law.
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.
First International Bank & Trust's MineralTracker recently produced and presented a 40-page summary to the North Dakota Land Board estimating the total value of North Dakota-owned oil and gas mineral rights at $2.8 billion, an 18% increase from prior year.
How do I transfer mineral rights in North Dakota? To convey or transfer ownership of mineral rights to a new owner, the current owner of the rights has to engage a title insurance company or an attorney at a district court to perform a search of the property title.