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.
Maryland Exhibit E to Operating Agreement Gas Balancing Agreement — Form 3 is a legal document that specifically pertains to gas balancing agreements in the state of Maryland. This exhibit is an essential component of the operating agreement between parties involved in the gas industry and outlines the terms and conditions for managing gas balancing activities. The Gas Balancing Agreement — Form 3 in Maryland ensures that the gas supply and demand are in equilibrium, minimizing imbalances in the pipeline system. This exhibit provides detailed instructions and guidelines for gas balancing activities, including measurement, recording, and settlement of imbalances. It also defines the roles and responsibilities of each party involved in the agreement, such as the gas supplier, transporter, and consumer. In Maryland, there may be different types or variations of the Exhibit E to Operating Agreement Gas Balancing Agreement — Form 3, depending on specific circumstances and requirements. These variations could include: 1. Maryland Exhibit E — Gas Balancing Agreement for Upstream Gas Suppliers: This variation of the exhibit could be tailored for gas suppliers who extract or produce natural gas within Maryland. It may include additional clauses related to measurement and reporting of gas production and imbalances at the wellhead. 2. Maryland Exhibit E — Gas Balancing Agreement for Gas Transporters: This version of the exhibit could be specific to gas transporters operating within Maryland. It could include provisions detailing the gas transportation process, such as pipeline capacity, scheduling, and reporting requirements. 3. Maryland Exhibit E — Gas Balancing Agreement for Gas Consumers: This variation of the exhibit could focus on gas consumers within Maryland. It might include clauses related to the utilization of gas, measurement of gas consumption, and reporting of imbalances at the consumer level. It is important to note that the specific types and variations of Maryland Exhibit E to Operating Agreement Gas Balancing Agreement — Form 3 may vary depending on the agreements made between the parties involved and the specific gas industry regulations in Maryland. Consulting legal professionals or industry experts is advisable to ensure compliance with relevant regulations and to customize the exhibit according to specific needs.
