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.
Virgin Islands Exhibit E to Operating Agreement Gas Balancing Agreement — Form 3 is a critical component of gas balancing operations in the Virgin Islands. In order to understand its significance, let's delve into the detailed description of this agreement. The Virgin Islands Exhibit E to Operating Agreement Gas Balancing Agreement — Form 3 is an essential contractual document that facilitates the gas balancing process within the Virgin Islands. Gas balancing refers to the practice of adjusting gas flows to maintain the proper inventory, pressure, and composition required for efficient operations of a gas transportation system or network. This exhibit outlines the specific terms and conditions governing the gas balancing operations in the Virgin Islands. It is an integral part of the overall operating agreement, providing a comprehensive framework for gas balancing within the region. The Gas Balancing Agreement — Form 3 serves as a legally binding agreement, ensuring smooth and efficient gas supply operations. Keywords: Virgin Islands, Operating Agreement, Gas Balancing Agreement, Exhibit E, Gas Balancing, Gas Flows, Inventory, Pressure, Composition, Gas Transportation System, Network, Terms and Conditions, Operating Agreement, Gas Supply Operations. Different types of the Virgin Islands Exhibit E to Operating Agreement Gas Balancing Agreement — Form 3 may exist, which can be categorized based on their specific provisions or variations in gas balancing operations. Some potential types may include: 1. Virgin Islands Exhibit E to Operating Agreement Gas Balancing Agreement — Form 3 (Primary Gas Balancing): This agreement primarily focuses on the standard gas balancing operations, encompassing inventory adjustments, pressure management, and maintaining the required composition of gas flows. 2. Virgin Islands Exhibit E to Operating Agreement Gas Balancing Agreement — Form 3 (Emergency Gas Balancing): This type of agreement specifically deals with emergency situations that may arise within the gas transportation system, requiring immediate adjustments to normalize the gas flows and ensure the safety and reliability of operations. 3. Virgin Islands Exhibit E to Operating Agreement Gas Balancing Agreement — Form 3 (Seasonal Gas Balancing): This agreement pertains to the specific gas balancing requirements during different seasons, considering variations in gas demand, production, and storage capacity. It may involve adjusting gas flows to meet increased or decreased energy consumption patterns during different times of the year. Keywords: Virgin Islands, Exhibit E, Operating Agreement, Gas Balancing Agreement, Primary Gas Balancing, Emergency Gas Balancing, Seasonal Gas Balancing, Inventory Adjustments, Pressure Management, Composition, Gas Transportation System, Emergency Situations, Gas Flows, Safety, Reliability, Gas Demand, Production, Storage Capacity, Energy Consumption Patterns.
