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.
Kentucky Exhibit E to Operating Agreement Gas Balancing Agreement — Form 3 is a specific document utilized in the gas industry to outline the terms and conditions surrounding gas balancing in the state of Kentucky. This agreement is designed to ensure the proper allocation and balancing of natural gas quantities between parties involved in gas operations. Keywords: Kentucky, Exhibit E, Operating Agreement, Gas Balancing Agreement, Form 3. Kentucky Exhibit E to Operating Agreement Gas Balancing Agreement — Form 3 is an essential legal contract that governs the process of gas balancing within the state of Kentucky. It aims to establish a fair and efficient system for measuring, allocating, and managing natural gas quantities among multiple parties operating in the region. The Gas Balancing Agreement is a key component of the Operating Agreement, which outlines the rights and responsibilities of the parties involved in gas operations within Kentucky. Exhibit E specifically provides details related to gas balancing, ensuring that all parties maintain a consistent and accurate account of the gas quantities flowing through their pipelines and systems. The Gas Balancing Agreement allows for the settlement of imbalances between the actual and contractual gas quantities. It provides a framework for tracking any deviations from the agreed-upon gas allocation and prescribing mechanisms for rectifying such imbalances. This helps ensure that each party's rights are protected and that everyone receives their fair share of the gas resources. In terms of different types of Kentucky Exhibit E to Operating Agreement Gas Balancing Agreement — Form 3, variations may exist based on factors such as the identity of the parties involved, the specific gas infrastructure, and the contractual terms agreed upon. Each agreement is tailored to the unique circumstances of the parties engaged in gas operations within Kentucky. These variations in Kentucky Exhibit E to Operating Agreement Gas Balancing Agreement — Form 3 may include specific provisions related to measurement methodologies, administrative fees, penalty mechanisms, audit requirements, dispute resolution mechanisms, and other relevant details. These customized agreements ensure that the gas balancing process is effectively managed, promoting fair resource allocation, minimizing disputes, and maintaining the integrity of the gas supply system. Overall, Kentucky Exhibit E to Operating Agreement Gas Balancing Agreement — Form 3 plays a crucial role in establishing clear guidelines and procedures for gas balancing in Kentucky. It helps maintain a transparent, efficient, and cooperative gas industry in the state, benefiting both the businesses involved and the consumers relying on a stable gas supply.
