GAS STORAGE RIGHTS Sample Clauses

GAS STORAGE RIGHTS. 30.01 No gas storage rights are demised to the Lessee by this lease. 30.02 If the Lessee wishes to develop the leased premises for gas storage, Lessee must first obtain a Gas Storage Lease from the Department. 30.03 If the Lessee does not wish to develop the leased premises for gas storage, but in the Department’s opinion the leased premises exhibit characteristics which indicates its potential for a gas storage reservoir, Department will so inform the Lessee in writing prior to the final plugging and abandonment of the xxxxx and removal of the surface support equipment. 30.04 Any well and equipment identified by Department as necessary for the development of a gas storage facility on the leased premises and which is not planned for development by the Lessee shall first be offered to Department or its nominee or assignee in writing, at the then fair market value of the well and attendant equipment, at least one hundred twenty (120) days before Lessee begins abandonment procedures.
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GAS STORAGE RIGHTS. 35.1 No gas storage rights are demised to the Lessee by this Lease. If the Lessee wishes to develop the Leased Premises for gas storage, the Lessee must first obtain a gas storage lease from the Department. 35.2 If the Lessee does not wish to develop the Leased Premises for gas storage, but in the Department’s opinion the Leased Premises exhibits characteristics which indicate its potential for a gas storage reservoir, the Department will so inform the Lessee in writing prior to the final plugging and abandonment of the xxxxx and removal of the surface support equipment. 35.3 Any well and equipment identified by the Department as necessary for the development of a gas storage facility on the Leased Premises, and which is not planned for development by the Lessee, shall first be offered to the Department or its nominee or assignee in writing, at the then fair market value of the well and attendant equipment, at least 120 calendar days before Lessee begins abandonment procedures. The Department shall have the right to purchase any such well and equipment by delivering a notice of the exercise of such election, within 30 days of notice from Lessee of the fair
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Related to GAS STORAGE RIGHTS

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