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.
California Exhibit E to Operating Agreement Gas Balancing Agreement — Form 2 is a crucial document that pertains to gas balancing agreements in the state of California. This detailed description will outline the purpose, components, and types of California Exhibit E to Operating Agreement Gas Balancing Agreement — Form 2. Gas balancing agreements are essential in the management and utilization of gas resources. In California, these agreements are governed by specific regulatory frameworks, requiring the use of standardized forms such as California Exhibit E to Operating Agreement Gas Balancing Agreement — Form 2. This exhibit serves as an attachment to the operating agreement, providing a comprehensive framework for gas balancing activities between the parties involved. It outlines the procedures, responsibilities, and rights related to gas balancing operations, ensuring equitable distribution and efficient utilization of gas resources. The components of California Exhibit E to Operating Agreement Gas Balancing Agreement — Form 2 may include: 1. Gas Balancing Procedures: This section outlines the step-by-step procedures for gas balancing, including nomination, measurement, allocation, and settlements. It clarifies the roles and responsibilities of the parties involved in maintaining a balanced gas supply. 2. Measurement and Verification: This part specifies the methods and protocols for gas quantity measurement and verification. It may include requirements for metering devices, sampling techniques, and data reporting intervals to ensure accurate and reliable gas measurement. 3. Imbalance Resolution: This section defines the mechanisms for addressing any imbalances that may occur during gas operations. It may cover topics such as penalties, cash-out provisions, and corrective actions to efficiently resolve imbalances and maintain a balanced system. 4. Tariffs and Billing: This component outlines the billing and tariff structure for gas balancing services. It may include details about rates, calculations, invoicing, and payment terms to ensure a transparent and fair financial arrangement among the parties. 5. Force Mature and Disputes: This section addresses unexpected events or circumstances that may impact gas balancing operations. It may include provisions for force majeure events, dispute resolution mechanisms, and escalation procedures to handle unforeseen situations effectively. Different types or versions of California Exhibit E to Operating Agreement Gas Balancing Agreement — Form 2 may exist, primarily due to updates or modifications required by regulatory authorities. These variations could include changes in gas measurement techniques, reporting obligations, or contractual terms to align with evolving industry standards and regulatory frameworks. In summary, California Exhibit E to Operating Agreement Gas Balancing Agreement — Form 2 is a key document that delineates the procedures, rights, and responsibilities associated with gas balancing activities in California. It ensures the equitable distribution and efficient utilization of gas resources, while adhering to industry standards and regulatory requirements.California Exhibit E to Operating Agreement Gas Balancing Agreement — Form 2 is a crucial document that pertains to gas balancing agreements in the state of California. This detailed description will outline the purpose, components, and types of California Exhibit E to Operating Agreement Gas Balancing Agreement — Form 2. Gas balancing agreements are essential in the management and utilization of gas resources. In California, these agreements are governed by specific regulatory frameworks, requiring the use of standardized forms such as California Exhibit E to Operating Agreement Gas Balancing Agreement — Form 2. This exhibit serves as an attachment to the operating agreement, providing a comprehensive framework for gas balancing activities between the parties involved. It outlines the procedures, responsibilities, and rights related to gas balancing operations, ensuring equitable distribution and efficient utilization of gas resources. The components of California Exhibit E to Operating Agreement Gas Balancing Agreement — Form 2 may include: 1. Gas Balancing Procedures: This section outlines the step-by-step procedures for gas balancing, including nomination, measurement, allocation, and settlements. It clarifies the roles and responsibilities of the parties involved in maintaining a balanced gas supply. 2. Measurement and Verification: This part specifies the methods and protocols for gas quantity measurement and verification. It may include requirements for metering devices, sampling techniques, and data reporting intervals to ensure accurate and reliable gas measurement. 3. Imbalance Resolution: This section defines the mechanisms for addressing any imbalances that may occur during gas operations. It may cover topics such as penalties, cash-out provisions, and corrective actions to efficiently resolve imbalances and maintain a balanced system. 4. Tariffs and Billing: This component outlines the billing and tariff structure for gas balancing services. It may include details about rates, calculations, invoicing, and payment terms to ensure a transparent and fair financial arrangement among the parties. 5. Force Mature and Disputes: This section addresses unexpected events or circumstances that may impact gas balancing operations. It may include provisions for force majeure events, dispute resolution mechanisms, and escalation procedures to handle unforeseen situations effectively. Different types or versions of California Exhibit E to Operating Agreement Gas Balancing Agreement — Form 2 may exist, primarily due to updates or modifications required by regulatory authorities. These variations could include changes in gas measurement techniques, reporting obligations, or contractual terms to align with evolving industry standards and regulatory frameworks. In summary, California Exhibit E to Operating Agreement Gas Balancing Agreement — Form 2 is a key document that delineates the procedures, rights, and responsibilities associated with gas balancing activities in California. It ensures the equitable distribution and efficient utilization of gas resources, while adhering to industry standards and regulatory requirements.
