This form is used when Lessor owns the surface estate in the Lands and Lessee desires to enter into this Agreement for the purpose of specifying the terms and conditions by which Lessee may use the surface estate of the Lands in conducting Lessee's operations under the terms of the Lease.
Wyoming Surface Use Agreement Between Oil and Gas Lessee and Surface Owner Providing For Surface Damages and Disposal of Salt Water into An Existing Well Bore
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State:
Multi-State
Control #:
US-OG-417
Format:
Word;
Rich Text
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How to fill out Surface Use Agreement Between Oil And Gas Lessee And Surface Owner Providing For Surface Damages And Disposal Of Salt Water Into An Existing Well Bore?
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FAQ
If you sign a mineral rights lease, then you are on your way to earning oil and gas royalties. As a mineral rights owner, you can receive royalty compensation. This is from the sale of crude oil, natural gas, and other valuable resources found on your property.
Landowners should consider consulting with a local mineral rights expert when it comes to reviewing the quality of a lease offer to determine if it is mutually beneficial- LandGate can refer mineral owners to a local expert. There are many factors that influence the calculation of mineral worth.
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.
Negotiating an oil and gas lease will require some research upfront. If you're a landowner interested in working with an oil and gas company, you should explore their history and experience. You'll want to work with a reputable company that works in your best interests, holds a high standard, and maintains insurance.
For example, you (the mineral owner) sign an oil and gas lease with ABC Energy. Under that lease, you keep a 1/5 royalty interest. This means that each month you will receive 1/5 of the proceeds from production done by ABC Energy.
WHO OWNS THESE MINERAL RIGHTS? In Canada, property owners generally hold the surface rights, while mineral rights are usually owned by the provincial government.