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.
South Dakota Exhibit E to Operating Agreement Gas Balancing Agreement — Form 3 is a legal document that outlines the terms and conditions regarding gas balancing in South Dakota. This agreement is commonly used in the energy industry and serves as a guide for gas operators in maintaining a balanced supply and demand of gas resources. The South Dakota Exhibit E to Operating Agreement Gas Balancing Agreement — Form 3 includes various provisions that ensure fair and efficient gas balancing operations. It specifies the responsibilities and obligations of the gas operators involved, as well as the procedures for gas measurement, allocation, and reconciliation. Key components of South Dakota Exhibit E to Operating Agreement Gas Balancing Agreement — Form 3 may include: 1. Gas allocation: This section outlines how the gas is to be allocated between different parties involved in the agreement, such as producers, processors, and transporters. 2. Measurement and verification: It establishes the methods and equipment to be used for accurate measurement of gas quantities. This ensures that the balancing process is based on reliable data. 3. Reconciliation: This clause establishes the procedures for reconciling any imbalances between gas supply and demand, including the resolution of pricing and payment disputes. 4. Penalties and remedies: The agreement may specify penalties for non-compliance with the gas balancing requirements. It also outlines the steps to be taken in case of disputes, such as arbitration or mediation. Types of South Dakota Exhibit E to Operating Agreement Gas Balancing Agreement — Form 3: 1. Standard Gas Balancing Agreement: This is the most common type of gas balancing agreement used in South Dakota. It covers the general terms and conditions applicable to gas operators in the state. 2. Customized Gas Balancing Agreement: In some cases, gas operators may negotiate specific terms and conditions tailored to their unique requirements. This type of agreement allows for more flexibility and customization. 3. Temporary Gas Balancing Agreement: This agreement is used for short-term gas balancing purposes, such as during maintenance or repair periods. It outlines the specific terms and duration of the temporary balancing arrangement. In conclusion, the South Dakota Exhibit E to Operating Agreement Gas Balancing Agreement — Form 3 is a crucial document in the energy sector. It ensures the smooth operation of gas balancing activities in South Dakota, promoting fair distribution and utilization of gas resources among various stakeholders.South Dakota Exhibit E to Operating Agreement Gas Balancing Agreement — Form 3 is a legal document that outlines the terms and conditions regarding gas balancing in South Dakota. This agreement is commonly used in the energy industry and serves as a guide for gas operators in maintaining a balanced supply and demand of gas resources. The South Dakota Exhibit E to Operating Agreement Gas Balancing Agreement — Form 3 includes various provisions that ensure fair and efficient gas balancing operations. It specifies the responsibilities and obligations of the gas operators involved, as well as the procedures for gas measurement, allocation, and reconciliation. Key components of South Dakota Exhibit E to Operating Agreement Gas Balancing Agreement — Form 3 may include: 1. Gas allocation: This section outlines how the gas is to be allocated between different parties involved in the agreement, such as producers, processors, and transporters. 2. Measurement and verification: It establishes the methods and equipment to be used for accurate measurement of gas quantities. This ensures that the balancing process is based on reliable data. 3. Reconciliation: This clause establishes the procedures for reconciling any imbalances between gas supply and demand, including the resolution of pricing and payment disputes. 4. Penalties and remedies: The agreement may specify penalties for non-compliance with the gas balancing requirements. It also outlines the steps to be taken in case of disputes, such as arbitration or mediation. Types of South Dakota Exhibit E to Operating Agreement Gas Balancing Agreement — Form 3: 1. Standard Gas Balancing Agreement: This is the most common type of gas balancing agreement used in South Dakota. It covers the general terms and conditions applicable to gas operators in the state. 2. Customized Gas Balancing Agreement: In some cases, gas operators may negotiate specific terms and conditions tailored to their unique requirements. This type of agreement allows for more flexibility and customization. 3. Temporary Gas Balancing Agreement: This agreement is used for short-term gas balancing purposes, such as during maintenance or repair periods. It outlines the specific terms and duration of the temporary balancing arrangement. In conclusion, the South Dakota Exhibit E to Operating Agreement Gas Balancing Agreement — Form 3 is a crucial document in the energy sector. It ensures the smooth operation of gas balancing activities in South Dakota, promoting fair distribution and utilization of gas resources among various stakeholders.
