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.
Kansas Exhibit E to Operating Agreement Gas Balancing Agreement — Form 1 is a contractual document specifically designed for gas producers and operators in the state of Kansas. This agreement is an essential tool used to establish the terms and conditions for gas balancing operations between parties involved in gas production and transportation. The purpose of Kansas Exhibit E to Operating Agreement Gas Balancing Agreement — Form 1 is to ensure fair and practical gas balancing practices among producers and operators, promoting efficient operations and minimizing losses. Gas balancing refers to the process of adjusting gas quantities between parties to maintain a consistent supply while accounting for discrepancies in production and usage. This agreement outlines important details such as the obligations and responsibilities of the parties involved, procedures for gas balancing, measurement and allocation methodologies, and dispute resolution mechanisms. It serves as a legally binding framework to foster cooperation, transparency, and compliance within the gas industry. Keywords for Kansas Exhibit E to Operating Agreement Gas Balancing Agreement — Form 1: 1. Kansas: Signifies that this agreement is specifically tailored to meet the legal requirements and regulations of gas operations in the state of Kansas. 2. Exhibit E: Denotes that this agreement is part of a broader operating agreement and is specifically focused on gas balancing operations. 3. Operating Agreement: Refers to the overarching contract that governs the relationship between the gas producers and operators. 4. Gas Balancing Agreement: Indicates that the agreement pertains to the processes and procedures related to gas balancing operations. 5. Form 1: Suggests that this specific version or template of the agreement is the first version or a standardized format commonly used. Potential variations of Kansas Exhibit E to Operating Agreement Gas Balancing Agreement — Form 1 could include customized forms based on specific gas companies, additional provisions tailored to unique circumstances, or updated versions to align with changing regulations or industry standards. However, the specific variations would depend on individual needs and would need to be determined on a case-by-case basis.
