This operating agreement exhibit provides that each party has the right to take in kind its share of gas produced from the Contract Area and market or otherwise dispose of its gas. In the event any party is not, at any time, taking or marketing its share of gas, or has contracted to sell its share of gas produced from the Contract Area to a purchaser which does not, at any time, take the full share of gas attributable to the interest of the party, then the terms of this agreement shall automatically become operative.
Alabama Exhibit E to Operating Agreement Gas Balancing Agreement — Form 2 is a crucial component of agreements involving gas balancing and operating agreements in the state of Alabama. This exhibit serves to outline the specific terms and conditions related to gas balancing, ensuring the equitable distribution and management of natural gas resources in Alabama. One type of Alabama Exhibit E to Operating Agreement Gas Balancing Agreement — Form 2 is the "Gas Balancing Agreement — Form 2A." This variant focuses on the contractual arrangements and provisions related to the balancing of gas supply and demand. It ensures that gas allocation and distribution remain efficiently balanced to avoid any disruptions or imbalances in the gas supply chain within the specific gas field or region in Alabama. Another type of Alabama Exhibit E to Operating Agreement Gas Balancing Agreement — Form 2 is the "Gas Balancing Agreement — Form 2B." This particular variant emphasizes the financial aspects and obligations of the gas balancing agreement. It addresses the allocation of costs, gas imbalances, penalties for over or under-deliveries, and mechanisms for reimbursement or financial settlements among the participating parties. The Alabama Exhibit E to Operating Agreement Gas Balancing Agreement — Form 2 includes various key provisions and clauses that ensure a fair and transparent gas balancing process. These include: 1. Definitions: Clearly defines terms and phrases used throughout the agreement to avoid any potential misinterpretations. 2. Measurement and Balancing: Establishes procedures for measuring gas quantities, data collection, and the determination of imbalances. 3. Penalties and Damages: Outlines penalties and damages for contractual breaches, imbalances exceeding specified thresholds, or failure to comply with gas balancing requirements. 4. Reporting and Notifications: Specifies the reporting and notification obligations of the parties involved regarding gas imbalances, operational issues, or other relevant matters. 5. Dispute Resolution: Establishes mechanisms for resolving disputes arising from the gas balancing agreement, including alternative dispute resolution methods and potential arbitration processes. It is important to note that the exact contents and format of Alabama Exhibit E to Operating Agreement Gas Balancing Agreement — Form 2 may vary depending on the specific gas field, participating parties, and other contextual factors. Hence, it is essential to review the specific exhibit and related information to gain a comprehensive understanding of the applicable provisions and requirements.
Alabama Exhibit E to Operating Agreement Gas Balancing Agreement — Form 2 is a crucial component of agreements involving gas balancing and operating agreements in the state of Alabama. This exhibit serves to outline the specific terms and conditions related to gas balancing, ensuring the equitable distribution and management of natural gas resources in Alabama. One type of Alabama Exhibit E to Operating Agreement Gas Balancing Agreement — Form 2 is the "Gas Balancing Agreement — Form 2A." This variant focuses on the contractual arrangements and provisions related to the balancing of gas supply and demand. It ensures that gas allocation and distribution remain efficiently balanced to avoid any disruptions or imbalances in the gas supply chain within the specific gas field or region in Alabama. Another type of Alabama Exhibit E to Operating Agreement Gas Balancing Agreement — Form 2 is the "Gas Balancing Agreement — Form 2B." This particular variant emphasizes the financial aspects and obligations of the gas balancing agreement. It addresses the allocation of costs, gas imbalances, penalties for over or under-deliveries, and mechanisms for reimbursement or financial settlements among the participating parties. The Alabama Exhibit E to Operating Agreement Gas Balancing Agreement — Form 2 includes various key provisions and clauses that ensure a fair and transparent gas balancing process. These include: 1. Definitions: Clearly defines terms and phrases used throughout the agreement to avoid any potential misinterpretations. 2. Measurement and Balancing: Establishes procedures for measuring gas quantities, data collection, and the determination of imbalances. 3. Penalties and Damages: Outlines penalties and damages for contractual breaches, imbalances exceeding specified thresholds, or failure to comply with gas balancing requirements. 4. Reporting and Notifications: Specifies the reporting and notification obligations of the parties involved regarding gas imbalances, operational issues, or other relevant matters. 5. Dispute Resolution: Establishes mechanisms for resolving disputes arising from the gas balancing agreement, including alternative dispute resolution methods and potential arbitration processes. It is important to note that the exact contents and format of Alabama Exhibit E to Operating Agreement Gas Balancing Agreement — Form 2 may vary depending on the specific gas field, participating parties, and other contextual factors. Hence, it is essential to review the specific exhibit and related information to gain a comprehensive understanding of the applicable provisions and requirements.
