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.
The Idaho Exhibit E to Operating Agreement Gas Balancing Agreement — Form 2 is a legal document that is commonly used in the oil and gas industry. It serves as an appendix or addendum to the operating agreement and specifically addresses gas balancing issues in the state of Idaho. This agreement is crucial in ensuring fair and efficient gas operations by outlining the rights, responsibilities, and obligations of the parties involved. Keywords: 1. Idaho Exhibit E: This refers to the specific exhibit or appendix attached to the operating agreement that focuses on gas balancing in the state of Idaho. It outlines the unique considerations and regulations applicable to Idaho's gas operations. 2. Operating Agreement: The operating agreement is a contractual agreement that governs the relationship between the joint venture partners involved in oil and gas exploration and production. The Idaho Exhibit E is an addendum to this broader agreement, focusing solely on gas balancing aspects. 3. Gas Balancing Agreement: This agreement establishes the procedures and mechanisms for balancing gas production, transportation, and consumption among the parties involved. It ensures that the gas quantities delivered and received are accounted for accurately to maintain system integrity and fairness. 4. Form 2: The designation "Form 2" may refer to a specific template or format used for this particular agreement. It indicates that the Idaho Exhibit E to Operating Agreement Gas Balancing Agreement follows a standardized structure and set of provisions. Types of Idaho Exhibit E to Operating Agreement Gas Balancing Agreement — Form 2: There may not be different types of this specific agreement. However, variations may exist based on specific gas operations, contractual parties, or regulatory changes. In such cases, amendments or additional exhibits can be made to tailor the gas balancing agreement to address these unique considerations effectively. Overall, the Idaho Exhibit E to Operating Agreement Gas Balancing Agreement — Form 2 is essential in ensuring proper gas balancing and adherence to regulations specific to Idaho. It helps to maintain the stability and reliability of the gas operations while establishing a framework for cooperation and fair distribution among the parties involved.The Idaho Exhibit E to Operating Agreement Gas Balancing Agreement — Form 2 is a legal document that is commonly used in the oil and gas industry. It serves as an appendix or addendum to the operating agreement and specifically addresses gas balancing issues in the state of Idaho. This agreement is crucial in ensuring fair and efficient gas operations by outlining the rights, responsibilities, and obligations of the parties involved. Keywords: 1. Idaho Exhibit E: This refers to the specific exhibit or appendix attached to the operating agreement that focuses on gas balancing in the state of Idaho. It outlines the unique considerations and regulations applicable to Idaho's gas operations. 2. Operating Agreement: The operating agreement is a contractual agreement that governs the relationship between the joint venture partners involved in oil and gas exploration and production. The Idaho Exhibit E is an addendum to this broader agreement, focusing solely on gas balancing aspects. 3. Gas Balancing Agreement: This agreement establishes the procedures and mechanisms for balancing gas production, transportation, and consumption among the parties involved. It ensures that the gas quantities delivered and received are accounted for accurately to maintain system integrity and fairness. 4. Form 2: The designation "Form 2" may refer to a specific template or format used for this particular agreement. It indicates that the Idaho Exhibit E to Operating Agreement Gas Balancing Agreement follows a standardized structure and set of provisions. Types of Idaho Exhibit E to Operating Agreement Gas Balancing Agreement — Form 2: There may not be different types of this specific agreement. However, variations may exist based on specific gas operations, contractual parties, or regulatory changes. In such cases, amendments or additional exhibits can be made to tailor the gas balancing agreement to address these unique considerations effectively. Overall, the Idaho Exhibit E to Operating Agreement Gas Balancing Agreement — Form 2 is essential in ensuring proper gas balancing and adherence to regulations specific to Idaho. It helps to maintain the stability and reliability of the gas operations while establishing a framework for cooperation and fair distribution among the parties involved.
