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 Mexico Exhibit E to Operating Agreement Gas Balancing Agreement — Form 3 is a legal document specifically designed for the oil and gas industry in the state of New Mexico. It is an essential component of the operating agreement, providing detailed guidelines and procedures for gas balancing within a particular operation. This agreement ensures a fair and equitable distribution of natural gas and addresses potential imbalances that may arise during production and transportation. Keywords: New Mexico, Exhibit E, Operating Agreement, Gas Balancing Agreement, Form 3, oil and gas industry, guidelines, procedures, distribution, natural gas, imbalances, production, transportation. Different types of New Mexico Exhibit E to Operating Agreement Gas Balancing Agreement — Form 3 may include: 1. Standard Gas Balancing Agreement — Form 3: This is the most common and widely used version of the agreement, covering the essential aspects of gas balancing in New Mexico's oil and gas operations. 2. Enhanced Gas Balancing Agreement — Form 3: This type of exhibit E goes beyond the standard agreement and provides additional provisions or specifications tailored to meet the specific needs and requirements of a particular operation. 3. Offshore Gas Balancing Agreement — Form 3: When operating in offshore areas of New Mexico, this specific version of the exhibit E caters to the unique challenges and considerations associated with offshore gas balancing. 4. Onshore Gas Balancing Agreement — Form 3: Focusing on gas balancing within onshore operations, this version of the exhibit E addresses the nuances and requirements specific to onshore oil and gas production in New Mexico. 5. Modified Gas Balancing Agreement — Form 3: If certain modifications or customization are required to suit the particular circumstances or preferences of the parties involved, this type of exhibit E allows for flexibility in the gas balancing agreement while still adhering to the regulatory framework in New Mexico. In conclusion, New Mexico Exhibit E to Operating Agreement Gas Balancing Agreement — Form 3 is a crucial legal document governing gas balancing in the state's oil and gas industry. It ensures fair distribution and addresses potential imbalances, offering various types tailored to different circumstances and locations within New Mexico.
