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.
Wisconsin Exhibit E to Operating Agreement Gas Balancing Agreement — Form 3 is a legal document that outlines the terms and conditions related to gas balancing in the state of Wisconsin. It serves as an annex to the operating agreement and provides specific guidelines for gas supply and balancing activities. The Wisconsin Exhibit E typically consists of several key sections, including: 1. Gas Balancing Principles: This section defines the fundamental principles and objectives of gas balancing, such as maintaining system integrity, minimizing imbalances, and promoting equitable treatment among the parties involved. 2. Measurement and Reporting: This section outlines the procedures and requirements for measuring and reporting gas quantities, including the use of specific units of measurement and the frequency of reporting. 3. Gas Balancing Locations: The document specifies the locations where gas balancing activities will take place. This helps in identifying the physical points where gas quantity measurements and adjustments will occur. 4. Imbalance Charges and Penalties: The Wisconsin Exhibit E sets forth the rules and penalties applicable in case of gas imbalances. It defines the charges and fees that may be imposed on parties with imbalances and establishes the methodology for calculating these charges. 5. Dispute Resolution: In the case of disputes arising from gas balancing issues, this section provides a mechanism for resolving conflicts. It may include requirements for written notice, negotiations, mediation, or arbitration. It is important to note that different versions or variations of the Wisconsin Exhibit E to Operating Agreement Gas Balancing Agreement — Form 3 may exist, specific to different agreements or parties involved. However, the core elements mentioned above are typically present in all such agreements, with certain language and provisions tailored to accommodate the unique needs or circumstances of the parties. Overall, the Wisconsin Exhibit E serves as a comprehensive guide for gas balancing operations in the state, promoting transparency, fairness, and effective management of gas supply and imbalances.
