This operating agreement exhibit states the intent of the Parties that each Party shall have the right to take in kind and separately dispose of its proportionate share of gas (including casinghead gas) produced from each formation in each well located on the acreage (the "Contract Area") covered by the Operating Agreement.
Oklahoma Exhibit E to Operating Agreement Gas Balancing Agreement — Form 3 is a legal document that specifically relates to gas balancing agreements within the state of Oklahoma. This agreement governs the procedures and obligations involved in maintaining gas balancing operations between the parties involved. The purpose of the Gas Balancing Agreement — Form 3 is to ensure fair and equitable distribution of natural gas among multiple parties while maintaining the appropriate pressure levels within the distribution system. This agreement is crucial in the efficient operation of gas infrastructure within Oklahoma. There are a few different types of Oklahoma Exhibit E to Operating Agreement Gas Balancing Agreement — Form 3. They may vary based on the specific gas field or location within the state. Some common types include: 1. Gas Balancing Agreement for Offshore Gas Fields: This type of agreement is specific to gas fields located in offshore regions of Oklahoma. It outlines the unique considerations and challenges associated with offshore gas production and distribution. 2. Gas Balancing Agreement for Onshore Gas Fields: This agreement pertains to gas fields located on land in Oklahoma. It addresses the specific requirements and considerations involved in the management of gas balancing operations in onshore locations. 3. Gas Balancing Agreement for Interconnected Pipelines: This type of agreement is relevant when multiple pipelines are interconnected within Oklahoma. It outlines the procedures for gas balancing between these interconnected systems, ensuring smooth flow and preventing imbalances. The Oklahoma Exhibit E to Operating Agreement Gas Balancing Agreement — Form 3 typically contains various sections, such as: 1. Parties involved: This section identifies all the parties entering into the gas balancing agreement, including the names and contact information of each party. 2. Purpose and scope: This section explains the purpose and scope of the agreement, outlining the goals and objectives it aims to achieve. 3. Definitions: This part provides the definitions of key terms used throughout the agreement, ensuring a common understanding among all parties involved. 4. Gas balancing procedures: This section outlines the specific procedures for gas balancing, including measurement, reporting, and communication requirements. 5. Imbalance settlement: This part describes the methodology for settling any imbalances that may occur during gas distribution, ensuring fairness and accountability. 6. Force majeure: This section addresses the circumstances in which the parties are exempted from fulfilling their obligations due to unforeseen events beyond their control, such as natural disasters or labor strikes. 7. Dispute resolution: This section details the process for resolving any disputes that may arise between the parties, typically through negotiation, mediation, or arbitration. Overall, the Oklahoma Exhibit E to Operating Agreement Gas Balancing Agreement — Form 3 is a critical legal document that establishes the framework for gas balancing operations within Oklahoma. It ensures the efficient and fair distribution of natural gas among multiple parties while maintaining the integrity of gas infrastructure throughout the state.Oklahoma Exhibit E to Operating Agreement Gas Balancing Agreement — Form 3 is a legal document that specifically relates to gas balancing agreements within the state of Oklahoma. This agreement governs the procedures and obligations involved in maintaining gas balancing operations between the parties involved. The purpose of the Gas Balancing Agreement — Form 3 is to ensure fair and equitable distribution of natural gas among multiple parties while maintaining the appropriate pressure levels within the distribution system. This agreement is crucial in the efficient operation of gas infrastructure within Oklahoma. There are a few different types of Oklahoma Exhibit E to Operating Agreement Gas Balancing Agreement — Form 3. They may vary based on the specific gas field or location within the state. Some common types include: 1. Gas Balancing Agreement for Offshore Gas Fields: This type of agreement is specific to gas fields located in offshore regions of Oklahoma. It outlines the unique considerations and challenges associated with offshore gas production and distribution. 2. Gas Balancing Agreement for Onshore Gas Fields: This agreement pertains to gas fields located on land in Oklahoma. It addresses the specific requirements and considerations involved in the management of gas balancing operations in onshore locations. 3. Gas Balancing Agreement for Interconnected Pipelines: This type of agreement is relevant when multiple pipelines are interconnected within Oklahoma. It outlines the procedures for gas balancing between these interconnected systems, ensuring smooth flow and preventing imbalances. The Oklahoma Exhibit E to Operating Agreement Gas Balancing Agreement — Form 3 typically contains various sections, such as: 1. Parties involved: This section identifies all the parties entering into the gas balancing agreement, including the names and contact information of each party. 2. Purpose and scope: This section explains the purpose and scope of the agreement, outlining the goals and objectives it aims to achieve. 3. Definitions: This part provides the definitions of key terms used throughout the agreement, ensuring a common understanding among all parties involved. 4. Gas balancing procedures: This section outlines the specific procedures for gas balancing, including measurement, reporting, and communication requirements. 5. Imbalance settlement: This part describes the methodology for settling any imbalances that may occur during gas distribution, ensuring fairness and accountability. 6. Force majeure: This section addresses the circumstances in which the parties are exempted from fulfilling their obligations due to unforeseen events beyond their control, such as natural disasters or labor strikes. 7. Dispute resolution: This section details the process for resolving any disputes that may arise between the parties, typically through negotiation, mediation, or arbitration. Overall, the Oklahoma Exhibit E to Operating Agreement Gas Balancing Agreement — Form 3 is a critical legal document that establishes the framework for gas balancing operations within Oklahoma. It ensures the efficient and fair distribution of natural gas among multiple parties while maintaining the integrity of gas infrastructure throughout the state.
