MASTER SURFACE USE AGREEMENT, DATED JULY 1, 2026 BY AND BETWEEN US LAND GUILD, LLC AND BLACKBEARD OPERATING, LLC
PBT Land & Minerals, Inc.
MASTER SURFACE USE AGREEMENT
This Master Surface Use Agreement (this “Agreement”) is made and entered into this 1st day of July 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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