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.
Ohio Exhibit E to Operating Agreement Gas Balancing Agreement — Form 3 is a legal document that is often used in the gas industry to establish the terms and conditions for balancing gas supply and demand in Ohio. This agreement is essential for ensuring the efficient and reliable operation of gas systems within the state. The Ohio Exhibit E to Operating Agreement Gas Balancing Agreement — Form 3 is typically included as an attachment or exhibit to the Operating Agreement Gas Balancing Agreement between the gas supplier and the balancing party. It outlines the specific terms and provisions related to gas balancing activities and serves as a reference point for resolving any disputes or discrepancies that may arise. The primary purpose of Exhibit E is to outline the procedures, responsibilities, and obligations of both parties involved in the gas balancing process. It specifies the methods and calculations to be used for determining gas imbalances, as well as the timeframes within which such imbalances must be resolved. Different types of Ohio Exhibit E to Operating Agreement Gas Balancing Agreement — Form 3 may exist, depending on specific considerations and requirements of gas companies operating in Ohio. Some key variations may include: 1. Standard Ohio Exhibit E: This is the most common and widely used version of Exhibit E. It incorporates standard terms and provisions applicable to gas balancing activities in Ohio, as defined by relevant regulatory bodies and industry best practices. 2. Customized Ohio Exhibit E: Gas companies or parties involved in gas balancing agreements may choose to modify or customize the standard Exhibit E to suit their unique needs. Customized versions may include additional clauses or provisions specific to the gas supplier and balancing party. 3. Regulatory Ohio Exhibit E: In certain cases, regulatory authorities might mandate specific terms and conditions to be included in Exhibit E to align with regulatory requirements and ensure compliance with state gas balancing regulations. This type of Exhibit E would include additional provisions or requirements imposed by the regulatory body. These are some examples of the types of Ohio Exhibit E to Operating Agreement Gas Balancing Agreement — Form 3 that may exist. It's important for parties involved in gas balancing agreements in Ohio to carefully review and understand the specific terms outlined in Exhibit E to ensure compliance with applicable regulations and smooth operation of the gas systems.
