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.
Oregon Exhibit E to Operating Agreement Gas Balancing Agreement — Form 1 is a crucial document that outlines the specific terms and conditions governing gas balancing agreements in the state of Oregon. This detailed description will shed light on the purpose and content of the exhibit, while incorporating relevant keywords to provide a comprehensive overview. Keywords: Oregon, Exhibit E, Operating Agreement, Gas Balancing Agreement, Form 1 Description: 1. Introduction: Oregon Exhibit E to Operating Agreement Gas Balancing Agreement — Form 1 serves as an integral component of gas balancing agreements within the state of Oregon. This exhibit is designed to provide a standardized template that outlines essential provisions and guidelines for gas balancing activities. 2. Purpose: The primary objective of Oregon Exhibit E is to establish a clear framework for balancing gas supply and demand within a specified system or network. It aims to ensure reliable and efficient natural gas operations by maintaining optimal pressure and volumes throughout various interconnected facilities, pipelines, and distribution systems. 3. Overview: Oregon Exhibit E consists of several sections, each addressing critical aspects concerning gas balancing agreements. These sections include: a) Definitions: This section defines key terms and concepts utilized throughout the exhibit to ensure clarity and uniform understanding. b) Designated Representative: Identifies the responsible party appointed by each participating entity to represent their interests and facilitate communication. c) Balancing Obligations: Establishes the obligations and responsibilities of each party in achieving gas balance within the defined system. d) Measurement and Allocation: Specifies the methods for measuring gas quantities, allocating imbalances, and determining penalties or charges. e) Balancing Procedures: Details the steps, deadlines, and procedures for balancing gas supplies and addressing any discrepancies or imbalances. f) Dispute Resolution: Outlines the mechanism for resolving disputes arising from the interpretation or implementation of the gas balancing agreement. g) Confidentiality: Addresses the confidential nature of the agreement and the protection of sensitive information shared between parties. h) Term and Termination: Specifies the duration of the gas balancing agreement, conditions for termination, and potential consequences. 4. Different Types: While Oregon Exhibit E is typically associated with Gas Balancing Agreement — Form 1, it does not have distinct variations or types. However, the exhibit may undergo periodic updates or revisions to align with evolving industry standards, regulatory requirements, or changing market conditions. In conclusion, Oregon Exhibit E to Operating Agreement Gas Balancing Agreement — Form 1 is a comprehensive document that governs gas balancing activities within Oregon. This exhibit provides key definitions, establishes obligations and procedures, determines measurements and allocations, and outlines dispute resolution mechanisms. Implementing this agreement ensures the smooth operation of gas supply networks, fostering efficient and reliable gas delivery for the benefit of all involved parties.Oregon Exhibit E to Operating Agreement Gas Balancing Agreement — Form 1 is a crucial document that outlines the specific terms and conditions governing gas balancing agreements in the state of Oregon. This detailed description will shed light on the purpose and content of the exhibit, while incorporating relevant keywords to provide a comprehensive overview. Keywords: Oregon, Exhibit E, Operating Agreement, Gas Balancing Agreement, Form 1 Description: 1. Introduction: Oregon Exhibit E to Operating Agreement Gas Balancing Agreement — Form 1 serves as an integral component of gas balancing agreements within the state of Oregon. This exhibit is designed to provide a standardized template that outlines essential provisions and guidelines for gas balancing activities. 2. Purpose: The primary objective of Oregon Exhibit E is to establish a clear framework for balancing gas supply and demand within a specified system or network. It aims to ensure reliable and efficient natural gas operations by maintaining optimal pressure and volumes throughout various interconnected facilities, pipelines, and distribution systems. 3. Overview: Oregon Exhibit E consists of several sections, each addressing critical aspects concerning gas balancing agreements. These sections include: a) Definitions: This section defines key terms and concepts utilized throughout the exhibit to ensure clarity and uniform understanding. b) Designated Representative: Identifies the responsible party appointed by each participating entity to represent their interests and facilitate communication. c) Balancing Obligations: Establishes the obligations and responsibilities of each party in achieving gas balance within the defined system. d) Measurement and Allocation: Specifies the methods for measuring gas quantities, allocating imbalances, and determining penalties or charges. e) Balancing Procedures: Details the steps, deadlines, and procedures for balancing gas supplies and addressing any discrepancies or imbalances. f) Dispute Resolution: Outlines the mechanism for resolving disputes arising from the interpretation or implementation of the gas balancing agreement. g) Confidentiality: Addresses the confidential nature of the agreement and the protection of sensitive information shared between parties. h) Term and Termination: Specifies the duration of the gas balancing agreement, conditions for termination, and potential consequences. 4. Different Types: While Oregon Exhibit E is typically associated with Gas Balancing Agreement — Form 1, it does not have distinct variations or types. However, the exhibit may undergo periodic updates or revisions to align with evolving industry standards, regulatory requirements, or changing market conditions. In conclusion, Oregon Exhibit E to Operating Agreement Gas Balancing Agreement — Form 1 is a comprehensive document that governs gas balancing activities within Oregon. This exhibit provides key definitions, establishes obligations and procedures, determines measurements and allocations, and outlines dispute resolution mechanisms. Implementing this agreement ensures the smooth operation of gas supply networks, fostering efficient and reliable gas delivery for the benefit of all involved parties.
