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.
Puerto Rico Exhibit E to Operating Agreement Gas Balancing Agreement — Form 3 is a legally binding document that outlines the terms and conditions for gas balancing activities within the Puerto Rico gas market. This agreement is crucial for ensuring the efficient and reliable supply of natural gas to consumers and businesses on the island. The purpose of Puerto Rico Exhibit E is to establish a framework for gas balancing operations, which involve adjusting natural gas flows to maintain system integrity and meet demand fluctuations. This helps prevent imbalances and ensures the stability of the gas distribution network in Puerto Rico. The agreement outlines the roles and responsibilities of the parties involved, including gas suppliers, pipeline operators, and system operators. It typically includes provisions regarding gas scheduling, measurement, allocation, imbalances, penalties, and dispute resolution mechanisms. Key terms and keywords relevant to Puerto Rico Exhibit E to Operating Agreement Gas Balancing Agreement — Form 3 may include: 1. Puerto Rico gas market: Refers to the regulated market for natural gas distribution in Puerto Rico, including gas suppliers, pipeline infrastructure, and end-users. 2. Gas balancing: The process of adjusting gas flows to maintain system pressure, reliability, and ensure a consistent supply to customers. 3. Operating Agreement: A formal document that governs the rights, obligations, and relationships between parties involved in gas distribution, such as gas suppliers, pipeline operators, and system operators. 4. Exhibit E: Refers to a specific section or appendix within the Operating Agreement that focuses on gas balancing activities. 5. Gas balancing agreement — Form 3: A predefined form or template used to document the gas balancing agreement between the parties involved. Form 3 might refer to a specific version or update of the agreement template. 6. Gas scheduling: The process of coordinating gas deliveries and withdrawals based on market demand, supply availability, and system capacity. 7. Measurement: Concerns the accurate quantification of gas volumes supplied or consumed, often using specialized meters or measurement equipment. 8. Allocation: The allocation of gas quantities to various market participants, ensuring fair distribution based on agreed-upon criteria. 9. Imbalances: Differences between scheduled and actual gas flows that may occur due to variations in demand, supply, or unforeseen circumstances. 10. Penalties: Financial consequences for not adhering to the agreed-upon gas balancing requirements, such as failing to rectify imbalances within specified timeframes. 11. Dispute resolution: Procedures for resolving disagreements related to the interpretation or implementation of the gas balancing agreement. Please note that the specific naming or categorization of different types of Puerto Rico Exhibit E to Operating Agreement Gas Balancing Agreement — Form 3 may vary depending on the context or specific agreements in place. It is advisable to consult the relevant legal documents or consult with legal professionals for precise information on any variations or distinctions within the gas balancing agreements applicable to Puerto Rico.Puerto Rico Exhibit E to Operating Agreement Gas Balancing Agreement — Form 3 is a legally binding document that outlines the terms and conditions for gas balancing activities within the Puerto Rico gas market. This agreement is crucial for ensuring the efficient and reliable supply of natural gas to consumers and businesses on the island. The purpose of Puerto Rico Exhibit E is to establish a framework for gas balancing operations, which involve adjusting natural gas flows to maintain system integrity and meet demand fluctuations. This helps prevent imbalances and ensures the stability of the gas distribution network in Puerto Rico. The agreement outlines the roles and responsibilities of the parties involved, including gas suppliers, pipeline operators, and system operators. It typically includes provisions regarding gas scheduling, measurement, allocation, imbalances, penalties, and dispute resolution mechanisms. Key terms and keywords relevant to Puerto Rico Exhibit E to Operating Agreement Gas Balancing Agreement — Form 3 may include: 1. Puerto Rico gas market: Refers to the regulated market for natural gas distribution in Puerto Rico, including gas suppliers, pipeline infrastructure, and end-users. 2. Gas balancing: The process of adjusting gas flows to maintain system pressure, reliability, and ensure a consistent supply to customers. 3. Operating Agreement: A formal document that governs the rights, obligations, and relationships between parties involved in gas distribution, such as gas suppliers, pipeline operators, and system operators. 4. Exhibit E: Refers to a specific section or appendix within the Operating Agreement that focuses on gas balancing activities. 5. Gas balancing agreement — Form 3: A predefined form or template used to document the gas balancing agreement between the parties involved. Form 3 might refer to a specific version or update of the agreement template. 6. Gas scheduling: The process of coordinating gas deliveries and withdrawals based on market demand, supply availability, and system capacity. 7. Measurement: Concerns the accurate quantification of gas volumes supplied or consumed, often using specialized meters or measurement equipment. 8. Allocation: The allocation of gas quantities to various market participants, ensuring fair distribution based on agreed-upon criteria. 9. Imbalances: Differences between scheduled and actual gas flows that may occur due to variations in demand, supply, or unforeseen circumstances. 10. Penalties: Financial consequences for not adhering to the agreed-upon gas balancing requirements, such as failing to rectify imbalances within specified timeframes. 11. Dispute resolution: Procedures for resolving disagreements related to the interpretation or implementation of the gas balancing agreement. Please note that the specific naming or categorization of different types of Puerto Rico Exhibit E to Operating Agreement Gas Balancing Agreement — Form 3 may vary depending on the context or specific agreements in place. It is advisable to consult the relevant legal documents or consult with legal professionals for precise information on any variations or distinctions within the gas balancing agreements applicable to Puerto Rico.
