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.
Nevada Exhibit E to Operating Agreement Gas Balancing Agreement — Form 2 is a legal document that serves as an integral part of the gas balancing agreement associated with operating agreements in Nevada. This exhibit provides a detailed framework for addressing gas balancing procedures and obligations between parties involved in gas operations. The Nevada Exhibit E to Operating Agreement Gas Balancing Agreement — Form 2 outlines various key aspects, such as gas measurement, gas balancing, and gas discrepancy resolution mechanisms. It often includes specific provisions for gas production, transportation, and distribution operations within the state of Nevada. Here are some relevant keywords related to Nevada Exhibit E to Operating Agreement Gas Balancing Agreement — Form 2: 1. Nevada: Refers to the state of Nevada, where the gas operations and agreements are taking place. 2. Exhibit E: Signifies that this document is the fifth exhibit within the overall operating agreement and specifically deals with gas balancing agreements. 3. Operating Agreement: Refers to the primary contract that outlines the rights, responsibilities, and obligations of the parties involved in conducting gas operations in Nevada. 4. Gas Balancing Agreement: Specifies the terms and conditions for balancing gas quantities between different stakeholders involved in gas production, storage, and transportation. 5. Gas Measurement: Defines the agreed-upon methods and instruments for measuring gas quantities as a basis for balancing calculations. 6. Gas Balancing: Describes the process of ensuring that the gas produced, transported, and utilized aligns with the agreed ratios and allocations among the parties involved. 7. Gas Discrepancy: Refers to any differences or discrepancies between the actual gas quantities and the allocated amounts under the gas balancing agreement. 8. Discrepancy Resolution Mechanisms: Details the processes and procedures to be followed in resolving any identified gas discrepancies or imbalances. 9. Gas Production: Covers the methods and regulations related to extracting gas from designated wells or reserves in Nevada. 10. Gas Transportation: Outlines the procedures and responsibilities associated with transporting gas efficiently and securely within Nevada. While different variations or versions of Nevada Exhibit E to Operating Agreement Gas Balancing Agreement — Form 2 may exist, they generally cover the above-mentioned topics to ensure smooth and fair gas operations within Nevada.
