This operating agreement exhibit provides that each party has the right to take in kind its share of gas produced from the Contract Area and market or otherwise dispose of its gas. In the event any party is not, at any time, taking or marketing its share of gas, or has contracted to sell its share of gas produced from the Contract Area to a purchaser which does not, at any time, take the full share of gas attributable to the interest of the party, then the terms of this agreement shall automatically become operative.
Gas Balancing Agreement Form
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Multi-State
Control #:
US-OG-746
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Word;
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Gas balancing helps to keep production of an oil well flexible while still accounting for situations in which a site has over- or underproduced in a given time period, such as a month or quarter, or when one owner has sold more of a share of the gas stream than other owners.
An Operational Balancing Agreement ("OBA") is a contract between two parties which specifies the procedures to manage operating variances at an interconnection between pipelines.
In the context of Oil & Gas law, gas-balancing agreement is a contract among owners of the production of a gas well. Such an agreement is entered in order to balance production if one owner sells more of the gas stream than the other owners.
Gas Balance means the difference between the allocated Quantity of Transfer Gas at TTF and the allocated Quantity of Exit Gas. Sample 1.
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AAPL Form 610-1982 and 610-1989 Model Form Operating Agreement, with Recording Supplement, Gas Balancing Agreement, and Confidentiality Agreements. CO E E Exhibit "E", Gas Balancing Agreement.Provide imbalance management services. For example, Texas Gas Transmission Corp.