This operating agreement exhibit states the intent of the Parties that each Party shall have the right to take in kind and separately dispose of its proportionate share of gas (including casinghead gas) produced from each formation in each well located on the acreage (the "Contract Area") covered by the Operating Agreement.
District of Columbia Exhibit E to Operating Agreement Gas Balancing Agreement — Form 3 is a legal document specifically applicable to gas balancing agreements in the District of Columbia. This exhibit serves as an essential component of the larger operating agreement, providing detailed information and rules regarding gas balancing activities. Gas balancing agreements are crucial in the gas industry to ensure efficient operations and fair distribution of gas resources. Exhibit E specifically pertains to gas balancing agreements in the District of Columbia, encompassing the legal framework and operational guidelines. Different types of District of Columbia Exhibit E to Operating Agreement Gas Balancing Agreement — Form 3 may include: 1. Gas Allocation and Balancing Rules: This section outlines the rules and procedures concerning the allocation and balancing of gas resources within the District of Columbia. It establishes the criteria for determining allocation percentages, penalties for non-compliance, and the process for resolving disputes. 2. Measurement and Data Reporting: This section defines the measurement standards and reporting requirements for gas balancing activities in accordance with the District of Columbia regulations. It specifies the equipment, methodologies, and frequency of measurements, ensuring accuracy and transparency in gas balancing. 3. Nomination and Scheduling: This segment covers the nomination and scheduling process for gas suppliers and consumers within the District of Columbia. It outlines the timelines, procedures, and obligations related to submitting gas nomination requests, managing scheduling changes, and achieving gas balance. 4. Penalty Provisions: This section details the penalties and fines associated with any non-compliance or violation of the gas balancing agreement. It specifies the penalties for imbalances, failure to report data accurately, or breach of other agreement terms. 5. Confidentiality and Disclosure: This part addresses the confidentiality requirements associated with the gas balancing agreement. It stipulates the rules for accessing and sharing confidential information, ensuring that sensitive data remains protected. 6. Dispute Resolution: This segment establishes the procedures for resolving any disputes arising from the gas balancing agreement. It outlines the steps to be followed, including negotiation, mediation, or, if necessary, arbitration or litigation. District of Columbia Exhibit E to Operating Agreement Gas Balancing Agreement — Form 3 is instrumental in establishing a legally binding framework for gas balancing activities in the District of Columbia. This highly specific agreement ensures smooth operations, fair distribution, and efficient management of gas resources, benefiting both gas suppliers and consumers within the region.
