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.
Iowa Exhibit E to Operating Agreement Gas Balancing Agreement — Form 1 is a vital component of gas balancing agreements in the state of Iowa. This exhibit serves as a detailed reference for the gas balancing process, outlining the responsibilities, rights, and procedures that govern the exchange, measurement, and adjustment of natural gas quantities among parties involved. The Gas Balancing Agreement is an essential document that ensures the proper distribution of natural gas supplies and maintains balance within the gas pipeline system. Iowa Exhibit E adds specificity to this agreement by providing a comprehensive breakdown of how gas balancing will be conducted, highlighting various aspects, including: 1. Measurement and Calculation: This section details the specific measurement techniques, standards, and units utilized for accurately quantifying natural gas volumes. It may define the type of flow meters, orifice plates, turbine meters, or other measuring devices employed for accurate measurement. 2. Nomination and Scheduled Gas Quantities: Iowa Exhibit E outlines the nomination process through which each party communicates their anticipated gas quantities to be exchanged or transported. It also delineates the scheduled gas quantities agreed upon by all parties, providing a framework for balancing activities. 3. Operational Imbalances: This clause covers instances where the actual gas quantities received or delivered deviate from the scheduled quantities. It addresses the responsibilities of the parties involved in rectifying these operational imbalances, which may include measurement adjustments, makeup gas deliveries, cash settlements, or other mutually agreed-upon corrective actions. 4. Communication and Reporting: This section outlines the necessary communication channels and reporting requirements for parties involved in the gas balancing process. It may include provisions for daily or monthly imbalance reports, nomination updates, and any necessary notifications related to operational changes or disruptions. Different types or versions of Iowa Exhibit E to Operating Agreement Gas Balancing Agreement — Form 1 may exist based on specific amendments, revisions, or customization required by parties involved. These variations could include modifications to gas measurement techniques, balance calculation methodologies, or reporting requirements, tailored to meet the unique needs or circumstances of the gas balancing agreement. In summary, Iowa Exhibit E to Operating Agreement Gas Balancing Agreement — Form 1 plays a crucial role in facilitating the smooth and efficient operation of gas balancing activities in Iowa. It ensures clear guidelines and procedures for measuring, reporting, and reconciling gas quantities, enabling parties to maintain a balanced natural gas system within the state.Iowa Exhibit E to Operating Agreement Gas Balancing Agreement — Form 1 is a vital component of gas balancing agreements in the state of Iowa. This exhibit serves as a detailed reference for the gas balancing process, outlining the responsibilities, rights, and procedures that govern the exchange, measurement, and adjustment of natural gas quantities among parties involved. The Gas Balancing Agreement is an essential document that ensures the proper distribution of natural gas supplies and maintains balance within the gas pipeline system. Iowa Exhibit E adds specificity to this agreement by providing a comprehensive breakdown of how gas balancing will be conducted, highlighting various aspects, including: 1. Measurement and Calculation: This section details the specific measurement techniques, standards, and units utilized for accurately quantifying natural gas volumes. It may define the type of flow meters, orifice plates, turbine meters, or other measuring devices employed for accurate measurement. 2. Nomination and Scheduled Gas Quantities: Iowa Exhibit E outlines the nomination process through which each party communicates their anticipated gas quantities to be exchanged or transported. It also delineates the scheduled gas quantities agreed upon by all parties, providing a framework for balancing activities. 3. Operational Imbalances: This clause covers instances where the actual gas quantities received or delivered deviate from the scheduled quantities. It addresses the responsibilities of the parties involved in rectifying these operational imbalances, which may include measurement adjustments, makeup gas deliveries, cash settlements, or other mutually agreed-upon corrective actions. 4. Communication and Reporting: This section outlines the necessary communication channels and reporting requirements for parties involved in the gas balancing process. It may include provisions for daily or monthly imbalance reports, nomination updates, and any necessary notifications related to operational changes or disruptions. Different types or versions of Iowa Exhibit E to Operating Agreement Gas Balancing Agreement — Form 1 may exist based on specific amendments, revisions, or customization required by parties involved. These variations could include modifications to gas measurement techniques, balance calculation methodologies, or reporting requirements, tailored to meet the unique needs or circumstances of the gas balancing agreement. In summary, Iowa Exhibit E to Operating Agreement Gas Balancing Agreement — Form 1 plays a crucial role in facilitating the smooth and efficient operation of gas balancing activities in Iowa. It ensures clear guidelines and procedures for measuring, reporting, and reconciling gas quantities, enabling parties to maintain a balanced natural gas system within the state.
