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.
New Hampshire Exhibit E to Operating Agreement Gas Balancing Agreement — Form 3 is a legal document that outlines the terms and conditions related to gas balancing in the state of New Hampshire. This agreement is crucial for parties involved in the gas industry, as it ensures fair and efficient gas balancing operations within the state. The agreement contains various sections that cover important aspects of gas balancing, such as procedures, responsibilities, and liabilities. It is designed to provide clarity and guidance to stakeholders regarding gas balancing activities in New Hampshire. Some key components of the New Hampshire Exhibit E to Operating Agreement Gas Balancing Agreement — Form 3 are: 1. Introduction: This section provides a brief overview of the purpose and scope of the agreement. It outlines the parties involved and the gas balancing obligations and standards applicable in the state. 2. Gas Balancing Procedures: This section details the step-by-step procedures for gas balancing, including nomination, scheduling, measurement, and settlement processes. It ensures that all parties adhere to standardized procedures and provides guidelines for resolving any disputes that may arise during the gas balancing process. 3. Roles and Responsibilities: This section specifies the roles and responsibilities of different entities involved in gas balancing, such as gas suppliers, pipeline operators, and end-users. It clarifies the obligations of each party and their contribution to maintaining the integrity of the gas balancing system. 4. Measurement and Monitoring: This section outlines the requirements for accurate gas measurement and monitoring. It defines the measurement points, metering standards, and reporting obligations. These provisions aim to ensure fairness and transparency in gas balancing operations. 5. Non-Compliance and Penalties: This section addresses the consequences of non-compliance with the gas balancing agreement. It establishes penalties for parties failing to fulfill their obligations or violating the terms of the agreement. These penalties serve as a deterrent and encourage compliance with the gas balancing regulations. It should be noted that there may be different versions or variations of the New Hampshire Exhibit E to Operating Agreement Gas Balancing Agreement — Form 3. However, the core content and objectives of the agreement remain the same across these variations. Different types or versions may exist to cater to specific gas balancing scenarios or address specific regulatory requirements within the state. In conclusion, the New Hampshire Exhibit E to Operating Agreement Gas Balancing Agreement — Form 3 is a comprehensive legal document that ensures efficient and equitable gas balancing operations in New Hampshire. By defining roles, responsibilities, procedures, and consequences, this agreement establishes a framework for smooth gas flow and settlement among stakeholders in the gas industry.
