This operating agreement exhibit takes effect if any party takes and disposes of less than its percentage interest share of gas (including casinghead gas) produced and saved during any calendar month. The volume not taken by that party may be taken by any other party or parties.
Louisiana Exhibit E to Operating Agreement Gas Balancing Agreement — Form 4 is a crucial document used in the oil and gas industry specifically in Louisiana. It outlines the terms and conditions for gas balancing arrangements between parties involved in the production, transportation, and distribution of natural gas within the state. The Gas Balancing Agreement is designed to ensure that the gas supply remains in balance, preventing any disruptions or shortages in the gas flow. Louisiana Exhibit E serves as an appendix to the Operating Agreement, providing specific guidelines and procedures to be followed in case of gas imbalances. There are different types of Louisiana Exhibit E to Operating Agreement Gas Balancing Agreement — Form 4, depending on the specific needs and circumstances of the parties involved. These variations may include: 1. Provision for Gas Imbalance Allocations: This type of Exhibit E details the methodology used to determine how the gas imbalances are allocated among the parties based on their contractual obligations and agreed-upon formulas. It specifies the criteria for measurement, calculation, and monthly settlements to rectify any imbalances. 2. Gas Balance Payment Procedures: This version of Exhibit E outlines the procedures for calculating and making gas balance payments between the parties involved in the gas balancing arrangement. It may specify the payment timelines, methods of remittance, and any interest or penalty charges for late payments. 3. Gas Balancing Agreement Amendments: In certain situations, parties may need to modify or amend the gas balancing agreement. This type of Exhibit E provides the necessary guidelines and procedures for making amendments to the agreement, ensuring proper documentation and mutual consent from all parties involved. 4. Dispute Resolution Mechanisms: This variation of Exhibit E focuses on the dispute resolution process in case conflicts arise regarding gas imbalances or any other related issues. It may outline the steps to be followed, such as negotiation, mediation, or arbitration, to resolve disagreements and maintain the smooth operation of the gas balancing arrangement. Overall, Louisiana Exhibit E to Operating Agreement Gas Balancing Agreement — Form 4 plays a crucial role in ensuring the efficient and reliable flow of natural gas in Louisiana. It facilitates fair gas balance allocations, proper payment procedures, and establishes mechanisms to resolve potential disputes. The variations of this document help address specific aspects of gas balancing agreements, further streamlining the operations within the state's oil and gas industry.Louisiana Exhibit E to Operating Agreement Gas Balancing Agreement — Form 4 is a crucial document used in the oil and gas industry specifically in Louisiana. It outlines the terms and conditions for gas balancing arrangements between parties involved in the production, transportation, and distribution of natural gas within the state. The Gas Balancing Agreement is designed to ensure that the gas supply remains in balance, preventing any disruptions or shortages in the gas flow. Louisiana Exhibit E serves as an appendix to the Operating Agreement, providing specific guidelines and procedures to be followed in case of gas imbalances. There are different types of Louisiana Exhibit E to Operating Agreement Gas Balancing Agreement — Form 4, depending on the specific needs and circumstances of the parties involved. These variations may include: 1. Provision for Gas Imbalance Allocations: This type of Exhibit E details the methodology used to determine how the gas imbalances are allocated among the parties based on their contractual obligations and agreed-upon formulas. It specifies the criteria for measurement, calculation, and monthly settlements to rectify any imbalances. 2. Gas Balance Payment Procedures: This version of Exhibit E outlines the procedures for calculating and making gas balance payments between the parties involved in the gas balancing arrangement. It may specify the payment timelines, methods of remittance, and any interest or penalty charges for late payments. 3. Gas Balancing Agreement Amendments: In certain situations, parties may need to modify or amend the gas balancing agreement. This type of Exhibit E provides the necessary guidelines and procedures for making amendments to the agreement, ensuring proper documentation and mutual consent from all parties involved. 4. Dispute Resolution Mechanisms: This variation of Exhibit E focuses on the dispute resolution process in case conflicts arise regarding gas imbalances or any other related issues. It may outline the steps to be followed, such as negotiation, mediation, or arbitration, to resolve disagreements and maintain the smooth operation of the gas balancing arrangement. Overall, Louisiana Exhibit E to Operating Agreement Gas Balancing Agreement — Form 4 plays a crucial role in ensuring the efficient and reliable flow of natural gas in Louisiana. It facilitates fair gas balance allocations, proper payment procedures, and establishes mechanisms to resolve potential disputes. The variations of this document help address specific aspects of gas balancing agreements, further streamlining the operations within the state's oil and gas industry.
