Tennessee Surface Lease to Allow Storing or Transporting Oil and Gas from off Premises, also known as a surface use agreement, is a legal contract between the owner of the land and an oil or gas company that grants permission to use the surface of the property for the storage or transportation of oil and gas resources. This lease provides the company with the right to access, construct, and maintain infrastructure necessary for the extraction, storage, and transportation of oil and gas. There are several types of Tennessee Surface Leases to Allow Storing or Transporting Oil and Gas from off Premises, depending on the specific needs and preferences of both the landowner and the oil or gas company. These include: 1. Traditional Surface Lease: This type of lease allows the company to use the surface of the property for oil and gas activities while providing compensation to the landowner. It typically includes clauses outlining the duration of the lease, rights and obligations of both parties, and the payment structure. 2. Pipeline Easement Agreement: This agreement grants the company permission to construct and maintain pipelines on the land without disturbing the surface. The landowner receives compensation for the right-of-way granted to the company, allowing them to transport oil and gas across the property. 3. Storage Facility Agreement: This type of lease allows the company to use a portion of the land for the construction and operation of storage facilities, such as tanks or underground caverns. It provides the company with the necessary space to store extracted oil or gas before transportation or distribution while compensating the landowner for the use of their land. 4. Access Road Agreement: In some cases, an oil or gas company may require access to a property through the construction of roads or access paths. This agreement allows them to build and maintain these access routes to facilitate transportation and operational activities. The landowner is typically compensated for granting access and any potential disruptions caused by the construction of the road. 5. Surface Use and Development Agreement: This comprehensive agreement covers all aspects of oil and gas activities on the property, including exploration, drilling, production, storage, and transportation. It provides a detailed framework for both parties, ensuring all rights, responsibilities, and compensations are clearly stated. In conclusion, a Tennessee Surface Lease to Allow Storing or Transporting Oil and Gas from off Premises is a crucial legal agreement that enables oil and gas companies to utilize the surface of a landowner's property for various operations related to the extraction, storage, and transportation of oil and gas resources. The agreement type may vary depending on the specific requirements of the company and the landowner's preferences.
Tennessee Surface Lease to Allow Storing or Transporting Oil and Gas from off Premises
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A clause in an oil & gas lease that provides that if the leased land is later owned by separate parties, such as in a sale of part of the property, the lessee can continue to operate, develop, and treat the lease as a whole and pay royalties to each owner based on its percentage of ownership of the entire area.
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.
A mineral lease is a contractual agreement between the owner of a mineral estate (known as the lessor), and another party such as an oil and gas company (the lessee). The lease gives an oil or gas company the right to explore for and develop the oil and gas deposits in the area described in the lease.
Royalty Clause There are two types of royalties, a net and a gross royalty. Normally, the oil and gas lease contains a net royalty. If the lease provides for a net royalty, this means that post-production deductions will be taken from the royalty.
By way of background, a ?free use? clause is a provision in an oil/gas lease which gives the lessee the right to use gas produced from the leasehold.
What is the granting clause? The granting clause is the clause under which the owner of the oil and gas rights leases the oil and gas rights to the oil and gas company along with the right to develop the oil and gas on a specifically described piece of real estate.
in clause (or shutin royalty clause) traditionally allows the lessee to maintain the lease by making shutin payments on a well capable of producing oil or gas in paying quantities where the oil or gas cannot be marketed, whether due to a lack of pipeline connection or otherwise.