New Mexico Memorandum of Subsurface Underground Carbon Dioxide Storage Lease and Agreement
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How to fill out Memorandum Of Subsurface Underground Carbon Dioxide Storage Lease And Agreement?
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FAQ
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.
(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.
As used in this section, pore space is real property and, until title to the pore space or rights, interests or estates in the pore space are separately transferred, pore space is property of the person or persons holding title to the land surface above it.
In Texas and most states, pore space belongs to the surface owner, absent an explicit severance. Some states are passing statutes prohibiting the severance of pore space as a separate estate, thereby securing ownership in the surface owners.
[C]ourts in Montana, Oklahoma, Louisiana, New York, Michigan, West Virginia, New Mexico, and California all recognize the surface owner's ownership of underground pore space for gas storage operations.
