This operating agreement exhibit is used in the event any party is not able to take its share of gas, or has contracted to sell its share of gas produced from the Contract Area to a purchaser which is unable at any time while the Operating Agreement is in effect to take the share of gas attributable to the interest of the party.
Oklahoma Exhibit E to Operating Agreement Gas Balancing Agreement — Form 1: The Oklahoma Exhibit E to Operating Agreement Gas Balancing Agreement — Form 1 is a legal document that outlines the terms and conditions related to gas balancing in the state of Oklahoma. This agreement is commonly used in the oil and gas industry to govern the allocation and reconciliation of gas production, transportation, and distribution amongst operating parties. Keywords: 1. Oklahoma: This refers to the state in which the gas balancing agreement is taking place. Oklahoma is known for its significant oil and gas reserves, making it a prominent location for energy production. 2. Exhibit E: Exhibit E typically signifies a specific section or attachment of a larger contract or operating agreement. In this case, it refers to the gas balancing agreement. 3. Operating Agreement: An operating agreement is a legal document that outlines the rights and responsibilities of the parties involved in operating a business or venture. In the context of gas balancing, it specifies the terms related to gas production and distribution. 4. Gas Balancing Agreement: This agreement governs the allocation and reconciliation of gas production amongst operating parties. It ensures that gas quantities are accurately measured, accounted for, and fairly distributed, minimizing discrepancies and disputes. 5. Form 1: Form 1 typically refers to a standardized template or document format that is commonly used for specific types of agreements or applications. In this case, it signifies a specific format or version of the gas balancing agreement for Oklahoma. Different Types of Oklahoma Exhibit E to Operating Agreement Gas Balancing Agreement — Form 1: While there may not be different types of Oklahoma Exhibit E to Operating Agreement Gas Balancing Agreement — Form 1 per se, variations or modifications can occur based on specific circumstances, parties involved, or changes in regulatory requirements. It is essential to adapt the agreement to the specific needs and conditions of the gas balancing arrangement. These modifications may include adjusting allocation percentages, additional provisions for specific gas fields, or incorporating new regulatory guidelines into the agreement. However, the core purpose and structure of the agreement would generally remain consistent.Oklahoma Exhibit E to Operating Agreement Gas Balancing Agreement — Form 1: The Oklahoma Exhibit E to Operating Agreement Gas Balancing Agreement — Form 1 is a legal document that outlines the terms and conditions related to gas balancing in the state of Oklahoma. This agreement is commonly used in the oil and gas industry to govern the allocation and reconciliation of gas production, transportation, and distribution amongst operating parties. Keywords: 1. Oklahoma: This refers to the state in which the gas balancing agreement is taking place. Oklahoma is known for its significant oil and gas reserves, making it a prominent location for energy production. 2. Exhibit E: Exhibit E typically signifies a specific section or attachment of a larger contract or operating agreement. In this case, it refers to the gas balancing agreement. 3. Operating Agreement: An operating agreement is a legal document that outlines the rights and responsibilities of the parties involved in operating a business or venture. In the context of gas balancing, it specifies the terms related to gas production and distribution. 4. Gas Balancing Agreement: This agreement governs the allocation and reconciliation of gas production amongst operating parties. It ensures that gas quantities are accurately measured, accounted for, and fairly distributed, minimizing discrepancies and disputes. 5. Form 1: Form 1 typically refers to a standardized template or document format that is commonly used for specific types of agreements or applications. In this case, it signifies a specific format or version of the gas balancing agreement for Oklahoma. Different Types of Oklahoma Exhibit E to Operating Agreement Gas Balancing Agreement — Form 1: While there may not be different types of Oklahoma Exhibit E to Operating Agreement Gas Balancing Agreement — Form 1 per se, variations or modifications can occur based on specific circumstances, parties involved, or changes in regulatory requirements. It is essential to adapt the agreement to the specific needs and conditions of the gas balancing arrangement. These modifications may include adjusting allocation percentages, additional provisions for specific gas fields, or incorporating new regulatory guidelines into the agreement. However, the core purpose and structure of the agreement would generally remain consistent.
