There is a lot being written about leasing for carbon capture and storage within the landowner’s pore space. Generally the pore space is depleted salt domes but can included depleted gas fields.
My question is this - has anyone had recent experiences leasing pore storage space for natural gas? If so, in what state?
There are leases from the 1950s for gas storage that went through various pipeline companies who skipped annual rental payments until the last 4-5 years. Unless the landowner formally sent a notice of cancellation to the operator, the lease remained in force. One more reason to read and understand the terms of a lease or get help with any questions.
One area I found is in Mississippi where the landmen included lots etc. not owned by the Lessor in the legal descriptions. Fraud but, still of record. Other lots ownership’s were seemingly ignored and went unleased. The pipeline company is now tendering payments to current owners of the lots that were fraudulently included in the original leases. Adjacent lots The pipeline company has been put on notice of the issue but not responded
Since new agreements need to be negotiated I was hoping to find, or discuss, current lease rates and issues. There is also the question of prior payments to the non-owners under the leases they signed but that is another issue that can be addressed later.
Before it is raised, the current owners acquired tile through probate and/or title transfers from the family member who acquired the property in the 1940’s.