Puerto Rico Use of Produced Oil Or Gas by Lessor

State:
Multi-State
Control #:
US-OG-839
Format:
Word; 
Rich Text
Instant download

Description

This lease rider form may be used when you are involved in a lease transaction, and have made the decision to utilize the form of Oil and Gas Lease presented to you by the Lessee, and you want to include additional provisions to that Lease form to address specific concerns you may have, or place limitations on the rights granted the Lessee in the “standard” lease form.

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FAQ

The majority of Puerto Rico's electricity is generated using oil and natural gas fired power plants. Puerto Rico also has 21 reservoirs that produce hydroelectric energy.

Fossil fuels provide about 97% of Puerto Rico's electricity. In fiscal year 2022 (July 2021 to June 2022), fossil fuel-fired power plants generated about 97% of Puerto Rico's electricity.

Fossil fuels provide about 97% of Puerto Rico's electricity. In fiscal year 2022 (July 2021 to June 2022), fossil fuel-fired power plants generated about 97% of Puerto Rico's electricity.

Most of the evalu- ation area, including Atlantic oceanic crust, Caribbean oceanic crust, Puerto Rico Trench area, and shelf areas have no petroleum potential and were not considered further. In addition, there is no potential for oil and gas resources within the onshore area of Puerto Rico or the U.S. Virgin Islands.

From July 2021 to June 2022, natural gas-fired power plants generated 43% of Puerto Rico's electricity, 97% of which is produced with fossil fuels.

Achiote Oil is a commonly used Puerto Rican oil that is infused with annatto seeds that adds color and flavor to any savory dish.

Other than picturesque beaches and a tropical climate, Puerto Rico has limited natural resources. The mountainous terrain that dominates much of the island's surface considerably handicaps agriculture. Only clay, silica sand, and stone are found in economically significant quantities.

Petroleum accounts for about three-fifths of the energy consumed in Puerto Rico. The island imports all of its petroleum products, mostly through the port of San Juan, with minor shipments also arriving at the ports of Ponce, Guayanilla, and Yabucoa.

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Puerto Rico Use of Produced Oil Or Gas by Lessor