This operating agreement exhibit provides that each party has the right to take in kind its share of gas produced from the Contract Area and market or otherwise dispose of its gas. In the event any party is not, at any time, taking or marketing its share of gas, or has contracted to sell its share of gas produced from the Contract Area to a purchaser which does not, at any time, take the full share of gas attributable to the interest of the party, then the terms of this agreement shall automatically become operative.
Rhode Island is a state located in the New England region of the United States. It is the smallest state in terms of land area but densely populated. The Rhode Island Exhibit E to Operating Agreement Gas Balancing Agreement — Form 2 refers to a specific addendum or appendix attached to the operating agreement related to gas balancing in Rhode Island. This exhibit outlines the terms and conditions associated with gas balancing activities within the state. Gas balancing refers to the process of matching gas supply with demand, ensuring that the gas transmission and distribution systems remain stable and reliable. The purpose of the Exhibit E is to establish guidelines and procedures for gas balancing operations specific to Rhode Island. The Rhode Island Exhibit E to Operating Agreement Gas Balancing Agreement — Form 2 may include provisions such as: 1. Gas Balancing Objectives: This section will define the objectives and goals of gas balancing activities in Rhode Island. It may focus on maintaining system integrity, minimizing imbalances, and optimizing gas supply. 2. Operational Responsibilities: This part will outline the roles and responsibilities of the gas balancing operator, gas suppliers, and other related parties involved in gas balancing operations in Rhode Island. It may detail compliance requirements, reporting obligations, and coordination procedures. 3. Imbalance Calculation and Settlement: This section will specify the methodologies for calculating and settling gas imbalances, which occur when the quantity of gas supplied exceeds or falls short of the quantity consumed. It may cover measurement, allocation, and billing processes. 4. Gas Balancing Charges: This part will define the charges or penalties associated with gas imbalances and non-compliance with gas balancing requirements in Rhode Island. It may include provisions for penalties, fines, or fees for imbalances beyond certain thresholds. 5. Dispute Resolution: This section will outline a framework for resolving disputes or disagreements related to gas balancing operations in Rhode Island. It may specify the preferred methods of resolving disputes, such as negotiation, mediation, or arbitration. While there may not be different types of Rhode Island Exhibit E to Operating Agreement Gas Balancing Agreement — Form 2, variations can exist depending on the specific gas balancing agreement between parties or entities involved in gas operations within Rhode Island. Each agreement may have slight differences in terms of terminology, requirements, or conditions based on the respective gas balancing arrangements and circumstances.
