Ohio 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. Ohio Exhibit E to Operating Agreement Gas Balancing Agreement — Form 5 is a legal document that outlines the terms and conditions associated with gas balancing agreements in the state of Ohio. This agreement is commonly used in the gas industry to regulate the balancing of gas supplies and ensure fair distribution among various parties involved. The purpose of Ohio Exhibit E to Operating Agreement Gas Balancing Agreement — Form 5 is to establish a comprehensive framework for gas balancing, metering, and settlement procedures. It provides guidance regarding the calculation, reporting, and monitoring of gas imbalances, as well as the nomination and scheduling of gas quantities. The key elements typically covered in Ohio Exhibit E to Operating Agreement Gas Balancing Agreement — Form 5 include: 1. Definitions: This section outlines specific terms and their meanings used throughout the agreement, ensuring clarity and consistency in interpretation. 2. Balancing Services: This section explains the responsibilities of the parties involved in the gas balancing agreement, including the gas supplier, transporter, and distributor. It details the obligations related to balancing services, such as measurement, data submission, and gas inventory management. 3. Imbalance Resolution: This part describes the procedures for resolving gas imbalances. It outlines the methods for calculating imbalances and provides mechanisms for the parties to address any discrepancies, including penalties for non-compliance. 4. Metering and Measurement: This section outlines the technical requirements for gas metering and measurement, including the installation, calibration, and maintenance of measurement equipment. It also covers procedures for meter data exchange and reporting. 5. Nomination and Scheduling: This part specifies how gas quantities are nominated, scheduled, and allocated among the parties. It outlines the deadlines for submitting nominations and the rules governing changes to the nominated quantities. It is worth noting that there may be different versions or variations of Ohio Exhibit E to Operating Agreement Gas Balancing Agreement — Form 5, specific to different gas companies or utilities operating in Ohio. The specific names of these variations may vary depending on the participating parties or individual agreements.

Ohio Exhibit E to Operating Agreement Gas Balancing Agreement — Form 5 is a legal document that outlines the terms and conditions associated with gas balancing agreements in the state of Ohio. This agreement is commonly used in the gas industry to regulate the balancing of gas supplies and ensure fair distribution among various parties involved. The purpose of Ohio Exhibit E to Operating Agreement Gas Balancing Agreement — Form 5 is to establish a comprehensive framework for gas balancing, metering, and settlement procedures. It provides guidance regarding the calculation, reporting, and monitoring of gas imbalances, as well as the nomination and scheduling of gas quantities. The key elements typically covered in Ohio Exhibit E to Operating Agreement Gas Balancing Agreement — Form 5 include: 1. Definitions: This section outlines specific terms and their meanings used throughout the agreement, ensuring clarity and consistency in interpretation. 2. Balancing Services: This section explains the responsibilities of the parties involved in the gas balancing agreement, including the gas supplier, transporter, and distributor. It details the obligations related to balancing services, such as measurement, data submission, and gas inventory management. 3. Imbalance Resolution: This part describes the procedures for resolving gas imbalances. It outlines the methods for calculating imbalances and provides mechanisms for the parties to address any discrepancies, including penalties for non-compliance. 4. Metering and Measurement: This section outlines the technical requirements for gas metering and measurement, including the installation, calibration, and maintenance of measurement equipment. It also covers procedures for meter data exchange and reporting. 5. Nomination and Scheduling: This part specifies how gas quantities are nominated, scheduled, and allocated among the parties. It outlines the deadlines for submitting nominations and the rules governing changes to the nominated quantities. It is worth noting that there may be different versions or variations of Ohio Exhibit E to Operating Agreement Gas Balancing Agreement — Form 5, specific to different gas companies or utilities operating in Ohio. The specific names of these variations may vary depending on the participating parties or individual agreements.