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.
Minnesota Exhibit E to Operating Agreement Gas Balancing Agreement — Form 3 is a legal document that outlines the specific terms and conditions related to gas balancing agreements in the state of Minnesota. It is an integral part of the operating agreement and serves as a reference for gas balancing procedures and obligations. This exhibit provides a detailed description of the gas balancing arrangements between parties involved in the agreement. It outlines the responsibilities of each party, including the operator and non-operator, and defines their roles in managing the gas balance. The Minnesota Exhibit E to Operating Agreement Gas Balancing Agreement — Form 3 encompasses various aspects of gas balancing, including production, transportation, storage, and metering. It includes provisions for gas imbalances, over deliveries, and under deliveries, and establishes a framework for resolving any discrepancies. This exhibit also addresses the determination of gas imbalances and provides a method for calculating penalties or costs associated with imbalances. It outlines the procedures for reporting gas imbalances, including the frequency and format of such reports. In addition, the document may include requirements for maintaining accurate records of gas volumes, providing access to gas measurement equipment, and conducting periodic audits to ensure compliance with the gas balancing agreement. The Minnesota Exhibit E to Operating Agreement Gas Balancing Agreement — Form 3 can vary depending on the specific gas balancing practices and requirements of the parties involved. Different types of this exhibit may exist, tailored to accommodate specific gas fields, contract terms, or regulatory frameworks. Some potential variations of Minnesota Exhibit E to Operating Agreement Gas Balancing Agreement — Form 3 could include— - Gas Balancing Agreement for Natural Gas Fields: This type of agreement may be specific to gas fields in Minnesota and outline the unique considerations and procedures for gas balancing in these fields. — Gas Balancing Agreement for Pipeline Networks: This variation may focus on gas balancing within a pipeline network, addressing issues related to transportation, storage, and interconnections between multiple gas producers. — Gas Balancing Agreement for Renewable Gas Sources: As the industry evolves, there may be a need for specific gas balancing agreements for renewable gas sources, such as biogas or hydrogen. This type of exhibit might incorporate additional provisions related to the unique characteristics of these gases. It is essential to consult legal professionals or regulatory bodies in Minnesota to obtain the most up-to-date and accurate version of the Minnesota Exhibit E to Operating Agreement Gas Balancing Agreement — Form 3, as it may be subject to revisions or specific requirements based on legal or regulatory changes.
