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.
West Virginia Exhibit E to Operating Agreement Gas Balancing Agreement — Form 3 is a legal document that outlines the specific terms and conditions related to gas balancing agreements in West Virginia. This agreement is crucial for ensuring the effective management and balancing of gas supply and demand in the state. Keywords: West Virginia, Exhibit E, Operating Agreement, Gas Balancing Agreement, Form 3, legal document, terms and conditions, gas supply, gas demand Types of West Virginia Exhibit E to Operating Agreement Gas Balancing Agreement — Form 3: 1. Standard Gas Balancing Agreement — This type of Exhibit E to Operating Agreement outlines the standard terms and conditions for gas balancing in West Virginia. It includes the framework for gas allocation, balancing procedures, nomination processes, and penalties for non-compliance. 2. Customized Gas Balancing Agreement — In some cases, the parties involved in gas operations may require specific modifications or additions to the standard gas balancing agreement. This type of Exhibit E allows for customization to suit the unique needs and circumstances of the gas operators involved. 3. Renewal or Amendment Gas Balancing Agreement — As circumstances change or operations evolve, it may be necessary to renew or amend the existing gas balancing agreement. In such cases, a specific type of Exhibit E is used to outline the changes, terms, and conditions of the renewed or amended agreement. 4. Termination Gas Balancing Agreement — If the agreement between the gas operators is no longer viable or needs to be terminated for any reason, a termination Exhibit E is used to outline the process and requirements for ending the gas balancing agreement. This ensures that both parties are aware of their responsibilities and obligations during the termination process. It's important for all parties involved in gas operations in West Virginia to carefully review and understand the specific terms and conditions outlined in the Exhibit E to Operating Agreement Gas Balancing Agreement — Form 3. This document sets the foundation for effective gas supply management, promoting fair and efficient gas operations within the state.
