New Mexico Surface Use Agreement (Oil and Gas Operations)

State:
Multi-State
Control #:
US-OG-1160
Format:
Word; 
Rich Text
Instant download

Description

This form is a surface use agreement for oil and gas operations.
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FAQ

Surface Lease ? Any agreement entered into by an owner or occupant with a company under which the surface of the land may be used and which provides for the payment of compensation.

New Mexico Bureau of Mines and Mineral Resources Although the search for oil and gas has extended to all parts o-f the State, most of the wells and all the oil and natural gas fields are located in the northwest and southeast quadrants of the State.

SOPA creates an obligation to pay damages where oil and gas operations result in any loss of: land value; agricultural production or income; use; access; or improvements.

Surface Right means the right in rem of an individual or a legal entity, which is established for a time period of up to 99 years, to construct a building within public property and to exercise on such building the powers captured by the right of ownership, in ance with Articles 18 to 26 of Law 3986/2011, as in ...

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.

Surface interest refers to the ownership rights of the surface of a property, excluding any mineral rights. The owner of the surface interest has the right to use and enjoy the surface of the property, but must allow the owner of the mineral interest to access and use the surface for mineral extraction.

The surface estate includes everything above ground, such as the land itself, trees, and buildings. On the other hand, the mineral estate refers to the rights to any resources that may be found below ground, such as oil, gas, and minerals.

surface use lease allows the landowner to lease the oil and gas rights and obtain a bonus and royalty, while at the same time protecting the surface of the land.

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New Mexico Surface Use Agreement (Oil and Gas Operations)