LAMAR, CO – Strachan Exploration Inc. (SEI) has submitted a proposed lease for the intend of utilizing approx. 23 miles of 6” pipeline to transport gas from six wells that are located in Barrel Springs area. The lease agreement term is for 10 years form the effective date of December 12, 2017.
SEI’s obligations are to continue the maintenance, repairs of the pipeline and repair or replacement of the Cathodic System, and maintenance of the Cathodic System to standards meeting applicable regulations.
They will also be responsible to:
* Maintain all metering equipment including meter calibration.
* Cooperate with LUB to allow both to use the pipeline to transport gas owned or controlled by either party.
* Operate the pipeline in accordance with applicable Colorado Oil and Gas Conservation Commission Safety rules and procedures.
* Provide LUB with biannual summaries of operations, repairs and maintenance of the pipeline and expenditures incurred in connection with such activity.
* Provide General Liability and Pollution Liability insurance and have LUB as an additional insured on the policy.
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