New Jersey 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. New Jersey Exhibit E to Operating Agreement Gas Balancing Agreement — Form 5 is a legally binding document that outlines the terms and conditions for gas balancing within an operating agreement in the state of New Jersey. This agreement is crucial for gas production and distribution companies operating in the state. The Gas Balancing Agreement aims to ensure that gas supply and usage are equitable among all parties involved. It provides a framework for gas balancing, which involves monitoring and reconciling the differences between gas delivered and consumed by each party. The agreement includes various key provisions, such as: 1. Gas Measurement: The precise measurement of gas quantities at the point of delivery is crucial for accurate balancing. This exhibit outlines the measurement methods, equipment, and standards used for gas measurement, ensuring consistency across all parties. 2. Balancing Methodology: The exhibit defines the methodology used to determine the imbalances and provides guidelines for the allocation of such imbalances among the parties. It may include factors like volume, pressure, and temperature adjustments to ensure fairness. 3. Measurement Discrepancies: In case of measurement discrepancies between parties, this exhibit details the procedure for resolving disputes and discrepancies. It may involve third-party mediation, arbitration, or other agreed-upon resolution methods. 4. Balancing Statement: This section outlines the frequency and format of the balancing statements that parties must provide to each other. Balancing statements summarize the gas quantities delivered, consumed, and any resulting imbalances, allowing parties to track and reconcile their gas usage. Different types or variations of New Jersey Exhibit E to Operating Agreement Gas Balancing Agreement — Form 5 may exist based on the specific requirements of the parties involved, such as: — Exhibit E1: This variation may include additional provisions related to specific gas transmission or distribution systems within New Jersey. It may address unique infrastructure, capacity issues, or system-specific balancing requirements. — Exhibit E2: This version might pertain to gas balancing agreements between specific gas production and consumption entities within the state. It could include industry-specific considerations, such as pipeline transportation agreements or storage facilities. In summary, the New Jersey Exhibit E to Operating Agreement Gas Balancing Agreement — Form 5 is a crucial component of gas operations in the state. It ensures fair and accurate gas balancing among all parties involved, promoting efficient gas utilization and minimizing imbalances. The specific requirements and variations may depend on the unique circumstances and industry-specific needs of the parties involved.

New Jersey Exhibit E to Operating Agreement Gas Balancing Agreement — Form 5 is a legally binding document that outlines the terms and conditions for gas balancing within an operating agreement in the state of New Jersey. This agreement is crucial for gas production and distribution companies operating in the state. The Gas Balancing Agreement aims to ensure that gas supply and usage are equitable among all parties involved. It provides a framework for gas balancing, which involves monitoring and reconciling the differences between gas delivered and consumed by each party. The agreement includes various key provisions, such as: 1. Gas Measurement: The precise measurement of gas quantities at the point of delivery is crucial for accurate balancing. This exhibit outlines the measurement methods, equipment, and standards used for gas measurement, ensuring consistency across all parties. 2. Balancing Methodology: The exhibit defines the methodology used to determine the imbalances and provides guidelines for the allocation of such imbalances among the parties. It may include factors like volume, pressure, and temperature adjustments to ensure fairness. 3. Measurement Discrepancies: In case of measurement discrepancies between parties, this exhibit details the procedure for resolving disputes and discrepancies. It may involve third-party mediation, arbitration, or other agreed-upon resolution methods. 4. Balancing Statement: This section outlines the frequency and format of the balancing statements that parties must provide to each other. Balancing statements summarize the gas quantities delivered, consumed, and any resulting imbalances, allowing parties to track and reconcile their gas usage. Different types or variations of New Jersey Exhibit E to Operating Agreement Gas Balancing Agreement — Form 5 may exist based on the specific requirements of the parties involved, such as: — Exhibit E1: This variation may include additional provisions related to specific gas transmission or distribution systems within New Jersey. It may address unique infrastructure, capacity issues, or system-specific balancing requirements. — Exhibit E2: This version might pertain to gas balancing agreements between specific gas production and consumption entities within the state. It could include industry-specific considerations, such as pipeline transportation agreements or storage facilities. In summary, the New Jersey Exhibit E to Operating Agreement Gas Balancing Agreement — Form 5 is a crucial component of gas operations in the state. It ensures fair and accurate gas balancing among all parties involved, promoting efficient gas utilization and minimizing imbalances. The specific requirements and variations may depend on the unique circumstances and industry-specific needs of the parties involved.