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.
New Mexico Exhibit E to Operating Agreement Gas Balancing Agreement — Form 2 is a legal document that outlines the terms and conditions for gas balancing agreements in the state of New Mexico. This exhibit is an important part of the operating agreement, which governs the operations of gas fields and production facilities. It ensures efficient gas balancing among the parties involved in the agreement, preventing any imbalances that could lead to disruptions or financial losses. Keywords: New Mexico, Exhibit E, Operating Agreement, Gas Balancing Agreement, Form 2, gas fields, production facilities, gas balancing, imbalances, disruptions, financial losses. Types of New Mexico Exhibit E to Operating Agreement Gas Balancing Agreement — Form 2: 1. Standard Gas Balancing Agreement: This type of exhibit E outlines the standard terms and conditions for gas balancing agreements in New Mexico. It includes provisions for measuring, reporting, and resolving gas imbalances among the parties. 2. Customized Gas Balancing Agreement: In some cases, parties may negotiate and draft a customized version of the gas balancing agreement. This type of exhibit E will include specific provisions tailored to the unique circumstances and needs of the parties involved. 3. Joint Operating Agreement Gas Balancing Agreement: When multiple parties are operating in a gas field or production facility under a joint operating agreement, a specific gas balancing agreement may be created as a part of Exhibit E. This agreement governs the gas balancing responsibilities and procedures for the joint operations. 4. Offshore Gas Balancing Agreement: If the gas production takes place offshore in New Mexico's coastal waters, a specialized version of Exhibit E may be required. This agreement will include additional provisions for offshore operations, safety measures, and environmental considerations. 5. Temporary or Emergency Gas Balancing Agreement: In situations where there is a temporary disruption or emergency that requires immediate gas balancing measures, a temporary or emergency gas balancing agreement may be established. This type of agreement outlined in Exhibit E focuses on addressing the specific issue at hand and may have a shorter duration. 6. Renewable Energy Gas Balancing Agreement: As New Mexico continues to promote and expand its renewable energy sector, there may be a need for specific gas balancing agreements related to renewable energy projects. Exhibit E for these agreements will incorporate unique provisions that address the gas balancing requirements in conjunction with renewable energy production and distribution. 7. Direct Access Gas Balancing Agreement: In cases where certain parties have direct access to gas pipelines or specific gas sources, a direct access gas balancing agreement may be included in Exhibit E. This agreement sets forth the responsibilities, obligations, and rights of parties with direct access to gas supplies, ensuring fair and efficient gas balancing practices. These are some different types of New Mexico Exhibit E to Operating Agreement Gas Balancing Agreement — Form 2 that can be encountered based on various scenarios and specific needs in the gas industry in New Mexico.
