This operating agreement exhibit is used in the event any party is not able to take its share of gas, or has contracted to sell its share of gas produced from the Contract Area to a purchaser which is unable at any time while the Operating Agreement is in effect to take the share of gas attributable to the interest of the party.
Arkansas Exhibit E to Operating Agreement Gas Balancing Agreement — Form 1 is a legal document that outlines the terms and conditions related to gas balancing agreements in the state of Arkansas. The agreement is a vital component for natural gas producers, pipeline operators, and other stakeholders involved in the transportation and distribution of natural gas. Key provisions in this document include: 1. Purpose: The agreement clearly states its purpose, which is to establish the guidelines and procedures for gas balancing operations within Arkansas. It ensures that gas production, transportation, and delivery are properly managed while maintaining the integrity of the gas supply system. 2. Parties Involved: The agreement identifies the parties involved, including the natural gas producers and pipeline operators. It outlines their respective roles, responsibilities, and obligations in maintaining gas balance. 3. Quantity Measurement: The agreement describes the methods and standards used for measuring natural gas quantities. It specifies the units of measurement, conversion factors, and the instruments utilized for accurate and reliable measurement. 4. Balancing Procedures: This section outlines the procedures for gas balancing, including nomination, scheduling, and allocation of gas quantities. It establishes the timelines and deadlines for these activities to ensure smooth and efficient gas flow. 5. Reporting and Communication: The agreement emphasizes the importance of timely and accurate reporting of gas quantities. It specifies the reporting formats, frequency, and the designated individuals responsible for communication between the parties. 6. Penalties and Disputes: The agreement addresses the consequences of non-compliance with the gas balancing requirements. It outlines the penalties and remedies for any breach of the agreement. Additionally, it includes a dispute resolution mechanism to address any disagreements that may arise between the parties. Different types or variations of Arkansas Exhibit E to Operating Agreement Gas Balancing Agreement — Form 1 may exist depending on the specific terms and conditions negotiated between the parties. These variations may include provisions related to pricing, force majeure events, termination clauses, or other contractual arrangements tailored to meet the unique requirements of the gas transportation and distribution network in Arkansas. In summary, Arkansas Exhibit E to Operating Agreement Gas Balancing Agreement — Form 1 is a comprehensive legal document that establishes the guidelines and procedures for gas balancing operations in Arkansas. It ensures the accurate measurement, reporting, and allocation of natural gas quantities, promoting effective gas management and supply chain integrity.Arkansas Exhibit E to Operating Agreement Gas Balancing Agreement — Form 1 is a legal document that outlines the terms and conditions related to gas balancing agreements in the state of Arkansas. The agreement is a vital component for natural gas producers, pipeline operators, and other stakeholders involved in the transportation and distribution of natural gas. Key provisions in this document include: 1. Purpose: The agreement clearly states its purpose, which is to establish the guidelines and procedures for gas balancing operations within Arkansas. It ensures that gas production, transportation, and delivery are properly managed while maintaining the integrity of the gas supply system. 2. Parties Involved: The agreement identifies the parties involved, including the natural gas producers and pipeline operators. It outlines their respective roles, responsibilities, and obligations in maintaining gas balance. 3. Quantity Measurement: The agreement describes the methods and standards used for measuring natural gas quantities. It specifies the units of measurement, conversion factors, and the instruments utilized for accurate and reliable measurement. 4. Balancing Procedures: This section outlines the procedures for gas balancing, including nomination, scheduling, and allocation of gas quantities. It establishes the timelines and deadlines for these activities to ensure smooth and efficient gas flow. 5. Reporting and Communication: The agreement emphasizes the importance of timely and accurate reporting of gas quantities. It specifies the reporting formats, frequency, and the designated individuals responsible for communication between the parties. 6. Penalties and Disputes: The agreement addresses the consequences of non-compliance with the gas balancing requirements. It outlines the penalties and remedies for any breach of the agreement. Additionally, it includes a dispute resolution mechanism to address any disagreements that may arise between the parties. Different types or variations of Arkansas Exhibit E to Operating Agreement Gas Balancing Agreement — Form 1 may exist depending on the specific terms and conditions negotiated between the parties. These variations may include provisions related to pricing, force majeure events, termination clauses, or other contractual arrangements tailored to meet the unique requirements of the gas transportation and distribution network in Arkansas. In summary, Arkansas Exhibit E to Operating Agreement Gas Balancing Agreement — Form 1 is a comprehensive legal document that establishes the guidelines and procedures for gas balancing operations in Arkansas. It ensures the accurate measurement, reporting, and allocation of natural gas quantities, promoting effective gas management and supply chain integrity.
