Virginia Notice and Declaration of Gas Storage Provided For in Oil and Gas Lease

State:
Multi-State
Control #:
US-OG-648
Format:
Word; 
Rich Text
Instant download

Description

This form is used as Notice of provisions for a lease.

How to fill out Notice And Declaration Of Gas Storage Provided For In Oil And Gas Lease?

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FAQ

Because the Lessor of an oil and gas lease has no control over the Lessee's activities on the property and has no expertise in oil and gas operations, it makes sense that the Lessee should agree to indemnify the Lessor against claims of third parties arising out of activities of the Lessee on the property.

Natural gas is a fossil fuel energy resource that serves residential and commercial needs for space heating, water heating and cooking. It also fuels natural gas-powered vehicles and electric power generating plants, and is used as a chemical feedstock in industrial processes.

An Act relating to the development of oil and gas and coal; imposing duties and powers on the Department of Environmental Resources; imposing notification requirements to protect landowners; and providing for definitions, for various requirements to regulate the drilling and operation of oil and gas wells, for gas ...

Oil is a fossil fuel mixture of hydrocarbons that is recovered in Virginia in two main forms, crude oil and condensate. Crude oil is produced at the wellhead in liquid form at atmospheric pressures and temperatures. Condensate is recovered as a byproduct of natural gas production.

RELEASE: releases of property rights and/or other legal rights that the owner would otherwise be entitled to under law. RELEASE LEASE: releases of oil & gas lease rights that a person would otherwise be entitled to under law.

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.

Natural gas is produced in Buchanan, Dickenson, Russell, Tazewell, and Wise counties in the Appala- chian Plateau of southwest Virginia, and in Rock- ingham County in the Valley and Ridge province. In addition, gas has been produced in Scott and Wash- ington counties, also in the Valley and Ridge area.

The Virginia Gas and Oil Act of 1990 provides a comprehensive program to pro- tect public safety and the environment from risks associated with exploration and devel- opment of natural gas and oil resources.

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Virginia Notice and Declaration of Gas Storage Provided For in Oil and Gas Lease