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.
Maine Exhibit E to Operating Agreement Gas Balancing Agreement — Form 3 is a crucial document used in the energy industry, specifically within the state of Maine, United States. This agreement plays a significant role in ensuring the efficient and balanced distribution of natural gas resources between parties involved in gas operations. The Maine Exhibit E to Operating Agreement Gas Balancing Agreement — Form 3 outlines the terms, conditions, and procedures for gas balancing among the parties engaged in gas production, transportation, and distribution. It serves as an appendix or exhibit to the main operating agreement, providing detailed information and rules for gas balancing activities. Gas balancing refers to the process of ensuring that the supply and demand of natural gas align within a specific geographical area or among interconnected gas systems. It aims to maintain system integrity, prevent imbalances, and minimize disruptions in gas flow. The Gas Balancing Agreement within the Maine Exhibit E establishes guidelines for measuring, allocating, and rectifying any discrepancies between contracted quantities and actual gas usage. Keywords related to the Maine Exhibit E to Operating Agreement Gas Balancing Agreement — Form 3 could include: 1. Gas balancing agreement: Refers to the formal understanding between parties involved in gas operations to maintain equilibrium in gas supply and demand. 2. Operating agreement: Main contract or agreement governing the operations, rights, and responsibilities of gas production, transmission, and distribution. 3. Maine: Pertaining to the state of Maine, where the gas balancing agreement is implemented. 4. Exhibit E: A specific appendix within the operating agreement that covers the gas balancing agreement. 5. Gas balancing procedures: The step-by-step instructions and protocols followed to address imbalances in gas supply and demand. 6. Natural gas distribution: The process of delivering natural gas to end-users or consumers within a specified geographical area. 7. System integrity: The state of stability and reliability within the gas distribution system, ensuring uninterrupted gas flow and preventing disruptions. 8. Measuring and allocation: The methods employed for accurately gauging gas volumes and fairly dividing them among relevant parties. 9. Discrepancies: Differences or variations between the expected or contracted gas quantities and the actual gas usage or flow. 10. Interconnected gas systems: Refers to multiple gas networks that are connected together, often to enhance operational efficiency and optimize resource utilization. Different types or versions of the Maine Exhibit E to Operating Agreement Gas Balancing Agreement — Form 3 may exist based on specific industry requirements, legal updates, or contractual variations. However, it is essential to consult the relevant legal sources or industry experts to ascertain any unique types or revisions of this agreement within the state of Maine.
