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 York Exhibit E to Operating Agreement Gas Balancing Agreement — Form 3 is a document that outlines the specific terms and conditions related to gas balancing in the operating agreement of a company in the state of New York. Here is a detailed description of the purpose, content, and types of this agreement: Purpose: The purpose of New York Exhibit E to Operating Agreement Gas Balancing Agreement — Form 3 is to ensure effective and efficient gas balancing operations between parties involved in a partnership or joint venture in the energy industry. This agreement aims to establish guidelines for gas balancing, including the measurement, allocation, and settlement of imbalances. Content: The content of New York Exhibit E to Operating Agreement Gas Balancing Agreement — Form 3 typically includes the following key sections: 1. Introduction: This section provides an overview of the agreement, including the parties involved and the effective date of the agreement. 2. Definitions: Here, specific terms and phrases used throughout the agreement are defined to ensure clarity and avoid any misunderstandings. 3. Scope of Agreement: This section outlines the scope and applicability of the gas balancing agreement. It clarifies the territories, facilities, and assets covered by the agreement. 4. Responsibilities: This section identifies the roles and responsibilities of each party involved in gas balancing, such as the gas supplier, transporter, and distributor. It includes details on metering, measurement, and notification procedures. 5. Measurement: This section describes the measurement and validation procedures for monitoring gas flows and quantities. It specifies the equipment, methodologies, and standards to be utilized for accurate measurement. 6. Gas Balancing: This section outlines the procedures for tracking and managing imbalances between gas supply and demand. It includes provisions for reconciliation, allocation, and settlement of imbalances. 7. Compliance and Reporting: Here, the agreement specifies the compliance requirements, reporting obligations, and timelines for submitting gas balancing reports. 8. Dispute Resolution: This section outlines the process for resolving any disagreements or disputes that may arise during the course of gas balancing operations. Types: Different variations or types of New York Exhibit E to Operating Agreement Gas Balancing Agreement — Form 3 can exist based on the specific needs of the parties involved and the nature of the gas balancing operations. Variations may include: 1. Residential Gas Balancing Agreement: This type of agreement may apply to gas suppliers and distributors engaged in balancing gas supply and demand for residential customers. 2. Commercial Gas Balancing Agreement: This type of agreement may be tailored for gas supply and distribution companies serving commercial and industrial customers. 3. LNG (Liquefied Natural Gas) Gas Balancing Agreement: This variation of the agreement may be specific to companies involved in importing, storing, and distributing LNG for gas balancing purposes. 4. Renewable Gas Balancing Agreement: This type of agreement may be used in cases where renewable gas sources, such as biogas or hydrogen, are integrated into the gas balancing operations. These variations reflect the diverse range of scenarios where gas balancing agreements may be required based on the parties involved and the specific characteristics of the gas supply and distribution operations.
