Oklahoma Carbon Dioxide Storage Lease (with Landowner)

State:
Multi-State
Control #:
US-OG-952
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Word; 
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This form is a carbon dioxide storage lease with landowner.
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FAQ

Absolutely! Farmers and landowners can sell carbon credits because ALL land can store carbon. Landowners are eligible to receive carbon credits at the rate of one per every ton of CO2 their land sequesters.

Carbon dioxide is the most commonly produced greenhouse gas. Carbon sequestration is the process of capturing and storing atmospheric carbon dioxide. It is one method of reducing the amount of carbon dioxide in the atmosphere with the goal of reducing global climate change.

The purposes of the program are to provide a mechanism for creating and preserving carbon reserves in this state by encouraging voluntary practices that protect or improve natural resources, to enable Oklahomans to participate in market-based programs for natural resource protection, to provide a mechanism for ...

The 2009 Oklahoma Carbon Capture and Geologic Sequestration Act divides jurisdictional responsibility between DEQ and OCC for subsurface sequestration of carbon dioxide.

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.

Carbon sequestration (or carbon storage) is the process of storing carbon in a carbon pool. Carbon sequestration is a naturally occurring process but it can also be enhanced or achieved with technology, for example within carbon capture and storage projects.

In 2011 the Oklahoma Legislature enacted Section 6 of Title 60 that clearly states pore space is a property right owned by the surface owner subject to reasonable use by the mineral owner.

Carbon sequestration is the capturing, removal and storage of carbon dioxide (CO2) from the earth's atmosphere. It's recognised as a key method for removing carbon from the earth's atmosphere.

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Oklahoma Carbon Dioxide Storage Lease (with Landowner)