This operating agreement exhibit takes effect if any party takes and disposes of less than its percentage interest share of gas (including casinghead gas) produced and saved during any calendar month. The volume not taken by that party may be taken by any other party or parties.
Pennsylvania Exhibit E to Operating Agreement Gas Balancing Agreement — Form 4 is a legal document that outlines the terms and conditions related to gas balancing in the state of Pennsylvania. This agreement is crucial for gas companies and operators in Pennsylvania as it helps ensure the efficient and equitable exchange of natural gas resources. The Pennsylvania Exhibit E to Operating Agreement Gas Balancing Agreement — Form 4 governs the procedures and responsibilities of gas balancing, which involves matching and reconciling the quantities of gas that are delivered and withdrawn from a particular pipeline system. It specifies the obligations of the parties involved, including the gas producer, transporter, and customer, to maintain the balance of gas supply and demand. This exhibit is a customized version of the Gas Balancing Agreement Form 4 specifically designed for gas operations in Pennsylvania. It incorporates the unique requirements and regulations of the state, allowing the parties to operate within the legal framework specific to Pennsylvania. The key components of the Pennsylvania Exhibit E to Operating Agreement Gas Balancing Agreement — Form 4 may include: 1. Definitions: This section provides a clear understanding of the terminology used throughout the document. It defines terms such as "Gas Balance," "Imbalance," "Scheduled Quantity," and other relevant terms. 2. Balancing Procedures: This section outlines the step-by-step procedures and methodologies to be followed for gas balancing. It covers topics such as communication, scheduling, imbalance calculation, penalties, and dispute resolution mechanisms. 3. Gas Measurement: This section details the methods and standards for measuring gas quantities, including metering equipment requirements, calibration procedures, and data reporting. 4. Nominations and Scheduling: This section specifies the process for submitting nominations and scheduling gas flows, ensuring the accurate planning and coordination of gas movements. 5. Imbalance Management: This section addresses the handling of imbalances, including the rights and responsibilities of each party in managing and accounting for any deviations from the scheduled quantities. 6. Penalties and Settlement: This section outlines the penalties or charges imposed on parties responsible for imbalances and the procedures for settling any financial obligations resulting from gas imbalances. Pennsylvania Exhibit E to Operating Agreement Gas Balancing Agreement — Form 4 may also have variations depending on specific needs and conditions of gas operations in different regions within Pennsylvania. These variations could include additional provisions related to third-party access, force majeure events, environmental compliance, and confidential information protection, among others. In conclusion, the Pennsylvania Exhibit E to Operating Agreement Gas Balancing Agreement — Form 4 is a significant legal document tailored for gas operations in Pennsylvania. It ensures fair and efficient gas balancing processes, promotes compliance with state regulations, and helps prevent disruptions in gas supply.Pennsylvania Exhibit E to Operating Agreement Gas Balancing Agreement — Form 4 is a legal document that outlines the terms and conditions related to gas balancing in the state of Pennsylvania. This agreement is crucial for gas companies and operators in Pennsylvania as it helps ensure the efficient and equitable exchange of natural gas resources. The Pennsylvania Exhibit E to Operating Agreement Gas Balancing Agreement — Form 4 governs the procedures and responsibilities of gas balancing, which involves matching and reconciling the quantities of gas that are delivered and withdrawn from a particular pipeline system. It specifies the obligations of the parties involved, including the gas producer, transporter, and customer, to maintain the balance of gas supply and demand. This exhibit is a customized version of the Gas Balancing Agreement Form 4 specifically designed for gas operations in Pennsylvania. It incorporates the unique requirements and regulations of the state, allowing the parties to operate within the legal framework specific to Pennsylvania. The key components of the Pennsylvania Exhibit E to Operating Agreement Gas Balancing Agreement — Form 4 may include: 1. Definitions: This section provides a clear understanding of the terminology used throughout the document. It defines terms such as "Gas Balance," "Imbalance," "Scheduled Quantity," and other relevant terms. 2. Balancing Procedures: This section outlines the step-by-step procedures and methodologies to be followed for gas balancing. It covers topics such as communication, scheduling, imbalance calculation, penalties, and dispute resolution mechanisms. 3. Gas Measurement: This section details the methods and standards for measuring gas quantities, including metering equipment requirements, calibration procedures, and data reporting. 4. Nominations and Scheduling: This section specifies the process for submitting nominations and scheduling gas flows, ensuring the accurate planning and coordination of gas movements. 5. Imbalance Management: This section addresses the handling of imbalances, including the rights and responsibilities of each party in managing and accounting for any deviations from the scheduled quantities. 6. Penalties and Settlement: This section outlines the penalties or charges imposed on parties responsible for imbalances and the procedures for settling any financial obligations resulting from gas imbalances. Pennsylvania Exhibit E to Operating Agreement Gas Balancing Agreement — Form 4 may also have variations depending on specific needs and conditions of gas operations in different regions within Pennsylvania. These variations could include additional provisions related to third-party access, force majeure events, environmental compliance, and confidential information protection, among others. In conclusion, the Pennsylvania Exhibit E to Operating Agreement Gas Balancing Agreement — Form 4 is a significant legal document tailored for gas operations in Pennsylvania. It ensures fair and efficient gas balancing processes, promotes compliance with state regulations, and helps prevent disruptions in gas supply.
