Arizona Exhibit E to Operating Agreement Gas Balancing Agreement - Form 5

• Category: Oil Gas and Minerals - Agreements
• State: Multi-State
• Control #: US-OG-749
• Format: Word; Rich Text

Description

This operating agreement exhibit is a gas balancing agreement that contains information about ownership and Disposable Production of Gas in kind. Arizona Exhibit E to Operating Agreement Gas Balancing Agreement — Form 5, also known as the Gas Balancing Agreement Exhibit E, is an essential document used in the energy industry to establish and regulate the gas balancing operations in Arizona. This type of agreement aims to ensure fairness, efficiency, and transparency in the allocation and management of gas resources within the state. The Gas Balancing Agreement Exhibit E outlines the specific terms and conditions related to gas balancing activities, such as measuring, monitoring, and adjusting gas quantities in various facilities, pipelines, and distribution systems. It serves as a legally binding contract between the parties involved, including gas producers, transporters, and suppliers. Key elements and provisions found within the Arizona Exhibit E to Operating Agreement Gas Balancing Agreement — Form 5 may include: 1. Gas Measurement and Balancing: This section defines the methods, instruments, and protocols used for measuring gas quantities at different points of the supply chain, such as wellheads, gathering systems, transmission lines, and end-users. It also outlines the procedures for balancing gas quantities to match supply and demand, minimizing imbalances and preventing unnecessary penalties. 2. Nominations and Scheduling: This section outlines the process for gas nominations, including the submission of gas delivery requests by shippers and the scheduling of gas movements within the network. It may also address procedures for allocating and adjusting capacity rights, ensuring equitable access to the gas transportation infrastructure. 3. Imbalance Management: This section defines the rights and obligations of the parties involved in managing gas imbalances. It may include provisions for penalties or charges incurred due to imbalances, as well as mechanisms for resolving discrepancies and disputes arising from imbalances. 4. Reporting and Communication: This section establishes the requirements for gas balancing reports, including the frequency, format, and content of such reports. It also defines the communication channels and protocols for sharing important operational information among the stakeholders. 5. Force Mature and Default: This section addresses unforeseen circumstances or events beyond the control of the parties, such as natural disasters, strikes, or equipment failures. It also outlines the consequences of default or non-compliance with the agreement's terms, including remedies, dispute resolution processes, and potential termination provisions. Different types of Arizona Exhibit E to Operating Agreement Gas Balancing Agreement — Form 5 may exist to cater to specific scenarios or variations in gas balancing arrangements. Some variations may arise from the involvement of different parties, changes in regulatory requirements, or modifications to specific contractual terms to suit unique business relationships. In conclusion, the Arizona Exhibit E to Operating Agreement Gas Balancing Agreement — Form 5 is a crucial document that establishes the framework for gas balancing operations in the state. This document ensures that gas producers, transporters, and suppliers adhere to fair and efficient practices while maintaining equilibrium in gas supply and demand.

Arizona Exhibit E to Operating Agreement Gas Balancing Agreement — Form 5, also known as the Gas Balancing Agreement Exhibit E, is an essential document used in the energy industry to establish and regulate the gas balancing operations in Arizona. This type of agreement aims to ensure fairness, efficiency, and transparency in the allocation and management of gas resources within the state. The Gas Balancing Agreement Exhibit E outlines the specific terms and conditions related to gas balancing activities, such as measuring, monitoring, and adjusting gas quantities in various facilities, pipelines, and distribution systems. It serves as a legally binding contract between the parties involved, including gas producers, transporters, and suppliers. Key elements and provisions found within the Arizona Exhibit E to Operating Agreement Gas Balancing Agreement — Form 5 may include: 1. Gas Measurement and Balancing: This section defines the methods, instruments, and protocols used for measuring gas quantities at different points of the supply chain, such as wellheads, gathering systems, transmission lines, and end-users. It also outlines the procedures for balancing gas quantities to match supply and demand, minimizing imbalances and preventing unnecessary penalties. 2. Nominations and Scheduling: This section outlines the process for gas nominations, including the submission of gas delivery requests by shippers and the scheduling of gas movements within the network. It may also address procedures for allocating and adjusting capacity rights, ensuring equitable access to the gas transportation infrastructure. 3. Imbalance Management: This section defines the rights and obligations of the parties involved in managing gas imbalances. It may include provisions for penalties or charges incurred due to imbalances, as well as mechanisms for resolving discrepancies and disputes arising from imbalances. 4. Reporting and Communication: This section establishes the requirements for gas balancing reports, including the frequency, format, and content of such reports. It also defines the communication channels and protocols for sharing important operational information among the stakeholders. 5. Force Mature and Default: This section addresses unforeseen circumstances or events beyond the control of the parties, such as natural disasters, strikes, or equipment failures. It also outlines the consequences of default or non-compliance with the agreement's terms, including remedies, dispute resolution processes, and potential termination provisions. Different types of Arizona Exhibit E to Operating Agreement Gas Balancing Agreement — Form 5 may exist to cater to specific scenarios or variations in gas balancing arrangements. Some variations may arise from the involvement of different parties, changes in regulatory requirements, or modifications to specific contractual terms to suit unique business relationships. In conclusion, the Arizona Exhibit E to Operating Agreement Gas Balancing Agreement — Form 5 is a crucial document that establishes the framework for gas balancing operations in the state. This document ensures that gas producers, transporters, and suppliers adhere to fair and efficient practices while maintaining equilibrium in gas supply and demand.