Natural Gas Storage Fields: From Rocks to Regulations
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Understand the importance of natural gas storage as the unsung hero of the natural gas industry.
Without gas storage, there would be wild fluctuations in energy prices across the seasons, and natural gas production efforts in shale and traditional plays would be periodically shut-in without a place to store summer surplus. The topic will cover the history and nuances of natural gas storage concepts as compared to other sub-surface rights, and will discuss land rights acquisition planning, negotiations, title examinations, and storage rights valuation concepts. We will discuss the regulatory and legal evolution of natural gas storage from development of case law to the current date, including asset protection and concepts in eminent domain. Finally, this material will discuss the recently promulgated Interim Final Rule from the Pipeline and Hazardous Materials Administration's (PHMSA) natural gas storage regulations and Section 12 of the 'Protecting our Infrastructure of Pipelines and Enhancing Safety Act of 2016', and how companies should triage existing land rights to aid integrity management and reservoir engineers in compliance with respect thereto. The content will cover from the state to federal jurisdictions over natural gas storage, from geology to infrastructure and is intended to give you a firm foundation in knowledge and understanding of this sub-sub-specialty of the natural gas industry.
AuthorsBeth R. Minear, Esq., Global Project Solutions Consultants, LLC
Understanding Natural Gas Storage
• History and Development
• Brief Geological Overview
• Federally Regulated vs. State Regulated Fields
• Key Terms Unique to Gas Storage
Land Acquisition and Due Diligence
• Gas Production Rights vs. Gas Storage Rights
• Mapping and Buffer Zones/Setbacks
• Due Diligence and Land Rights Acquisition
• Structuring the Offer, Negotiations, and Valuation
• Land Rights Monitoring
• Encroachment Policies and Enforcement
• Drill-Through Agreements and "Frack"-Buffers
• Inter-Department Collaboration (Land - Integrity Management - Reservoir Engineers - Legal)
• Reports and Mapping to Regulatory Bodies (State and Federal)
• Critical Infrastructure Information Protections
• The Federal Energy Regulatory Commission (the FERC)
• State Specific Considerations
• PHMSA's 2016 Interim Final Rule
• Encroachment Protections
• The "Map Rule"
• Trespass or "Takings"
• Eminent Domain
• Valuation Legal Opinions