This operating agreement exhibit is used in the event any party is not able to take its share of gas, or has contracted to sell its share of gas produced from the Contract Area to a purchaser which is unable at any time while the Operating Agreement is in effect to take the share of gas attributable to the interest of the party.
Pennsylvania Exhibit E to Operating Agreement Gas Balancing Agreement - Form 1
Category:
State:
Multi-State
Control #:
US-OG-745
Format:
Word;
Rich Text
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FAQ
An operating agreement is an agreement for sharing the costs and the rewards of an oil and gas operation. Parties to the agreement are the working interest owners of the leasehold estates in the lands upon which the operations are to be conducted.
A joint operating agreement is a legal document that outlines the relationship between two or more businesses who jointly operate a business. When one company partners with another, they are typically signing this type of contract to ensure their business interests are protected.
The Joint Operating Agreement (JOA) in oil and gas industry is an underlying contractual framework of a Joint Venture (JV). The JOA is a contract where two or more parties agree to undertake a common task to explore and exploit an area for hydrocarbons.
party contract used to govern the relationship between members of a consortium engaged in an oil & gas project. A JOA is a way for coventurers to apportion liability in ance with their agreed participating interest.
A joint operating agreement is a legal document that outlines the relationship between two or more businesses who jointly operate a business. When one company partners with another, they are typically signing this type of contract to ensure their business interests are protected.
The contractual joint venture is where the JV parties enter into a contract under a consortium agreement. The JV parties agree the responsibilities, assets required and risks to be incurred by each party in order to provide and goods and services in the industry.