This operating agreement exhibit is used in the event any party is not able to take its share of gas, or has contracted to sell its share of gas produced from the Contract Area to a purchaser which is unable at any time while the Operating Agreement is in effect to take the share of gas attributable to the interest of the party.
Idaho Exhibit E to Operating Agreement Gas Balancing Agreement — Form 1 is a legally binding document that is an integral part of the overall gas balancing agreement. It serves as an attachment or exhibit to the operating agreement, specifically tailored to address gas balancing in Idaho. Gas balancing agreements are commonly used in the energy industry, particularly in natural gas production and distribution. These agreements aim to ensure the efficient management and equalization of gas supplies between various parties involved in the production and transportation process. In the case of Idaho Exhibit E to Operating Agreement Gas Balancing Agreement — Form 1, it is essential to understand that there may be different variations or types of this exhibit, depending on specific circumstances or parties involved. Some potential variations could include: 1. Idaho Exhibit E to Operating Agreement Gas Balancing Agreement — Form 1: Producer Version: This version of the exhibit may cater to gas producers in Idaho, outlining their rights, responsibilities, and obligations concerning gas balancing activities. 2. Idaho Exhibit E to Operating Agreement Gas Balancing Agreement — Form 1: Distributor Version: This version may be customized for gas distributors operating in Idaho. It outlines their role in supplying gas to consumers and ensures proper gas balancing practices avoiding supply imbalances. 3. Idaho Exhibit E to Operating Agreement Gas Balancing Agreement — Form 1: Transportation Company Version: This variation of the exhibit may be designed specifically for entities responsible for gas transportation in Idaho. It addresses their responsibilities in maintaining gas flow and balancing across the network. Key Attributes and Relevance of Idaho Exhibit E to Operating Agreement Gas Balancing Agreement — Form 1: 1. Balancing Methodology: The exhibit will provide a detailed description of the gas balancing methodology employed in Idaho. It may include formulas, algorithms, or guidelines for calculating imbalances and allocating costs among the parties involved. 2. Reporting Obligations: The specific reporting requirements for gas balancing activities in Idaho will be outlined. This may include frequency, format, and content of reports that need to be submitted by each party. 3. Imbalance Resolution Process: The document will lay out the process for resolving gas imbalances between parties. It may specify timelines, dispute resolution mechanisms, and penalties for non-compliance. 4. Cost Allocation: The exhibit will clarify how costs associated with gas imbalances are allocated among the parties involved in Idaho. This may include provisions for penalties, fees, or adjustments to contractual volumes. 5. Compliance with Regulations: The exhibit will ensure that the gas balancing activities comply with relevant federal, state, and local regulations governing the energy sector in Idaho. Overall, Idaho Exhibit E to Operating Agreement Gas Balancing Agreement — Form 1 is a crucial element of the gas balancing agreement in Idaho. It provides a comprehensive framework for gas balancing activities, ensures fair distribution of costs, and promotes efficient gas supply management in the state.
