board_of_land_commissioners_regular_meeting_agenda.pdf
New 20-Year Gas Storage Lease Awarded to WBI Energy
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Description
The Board of Land Commissioners approved a new 20-year underground gas storage lease with WBI Energy Transmission Inc. in Fallon County, with annual payments starting at $15,467.20 and a renewal option for an additional 20 years. The agreement ensures state revenue while supporting utility operations.
Contract Details
Contract Amount
$15,467.20 per year for first five years, subject to adjustment every five years
Vendor
WBI ENERGY TRANSMISSION INC
Agency
Montana Secretary of State|Board of Land Commissioners, MT
Contract Type
OTHER
Document Date
September 16, 2024
Contract Term
20 years from June 20, 2023, with option to renew for 20 more years
Renewal Date
2043-06-20
Renewal Info
Lease allows for one 20-year renewal beyond the initial 20-year term. Rental rate reevaluated every five years.
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APPROVEDIssuing Agency
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State
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