FORM OF MASTER SURFACE USE AGREEMENT WITH BLACKBEARD OPERATING
PBT Land & Minerals, Inc.
MASTER SURFACE USE AGREEMENT
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This Amended and Restated Master Surface Use Agreement (this “Agreement”) is made and entered into this 1st day of January 2026 (the “Effective Date”), by and between US Land Guild, LLC, whose address is 1751 River Run, Suite 405, Fort Worth, TX 76107, (“Surface Owner”) and Blackbeard Operating, LLC, whose address is 300 N. Loraine, Suite 300, Midland, Texas 79701 (“Operator”). Together Operator and Surface Owner will hereinafter be referred to at times as the “Parties”.
WHEREAS, reference is hereby made to the following described lands (the “Lands):
See Exhibit “A”
WHEREAS, Surface Owner is the owner of the surface estate in and to the Lands; and,
WHEREAS, Operator is the owner and holder of certain oil and gas leases and/or may become the owner of oil and gas leases and/or other mineral interests within the Lands;
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