Rhode Island Exhibit E to Operating Agreement Gas Balancing Agreement - Form 5

• Category: Oil Gas and Minerals - Agreements
• State: Multi-State
• Control #: US-OG-749
• Format: Word; Rich Text

Description

This operating agreement exhibit is a gas balancing agreement that contains information about ownership and Disposable Production of Gas in kind. Rhode Island Exhibit E to Operating Agreement Gas Balancing Agreement — Form 5 is a legally binding document that outlines the provisions and terms related to gas balancing within the state of Rhode Island. This agreement is essential for ensuring the smooth and efficient functioning of gas operations while maintaining a balanced supply and demand of gas. The Rhode Island Exhibit E, being an integral part of the Operating Agreement Gas Balancing Agreement — Form 5, serves to address specific details pertaining to gas balancing within the state. It covers various key aspects, including gas allocation, measurement, imbalances, penalties, and reconciliation procedures. The purpose of this exhibit is to establish clear guidelines and procedures for gas balancing activities among the involved parties. Under the Rhode Island jurisdiction, there may be different types of Exhibit E to Operating Agreement Gas Balancing Agreement — Form 5, depending on the specific gas infrastructure, network, and stakeholders involved. These variations might be identified by the particular gas distribution company, gas supplier, or gas transportation system operator operating in different regions of Rhode Island. However, regardless of the specific types, the Exhibit E generally consists of clauses and provisions related to gas balancing. Some common elements included in this exhibit are: 1. Gas Allocation: This section outlines how the gas is allocated among the different parties involved, such as producers, suppliers, and customers. It details the methods and formulas used to determine the allocation proportions. 2. Measurement and Reporting: This part defines the measurement standards, units, and equipment to be used for quantifying the gas flow and determining imbalances. It also establishes the reporting requirements, including the frequency and format of imbalance reports. 3. Imbalances and Responsibilities: This section addresses the occurrence of imbalances between the actual gas quantity delivered and the allocated amount. It defines the responsibilities of each party involved in correcting imbalances, including the procedures for notifying and resolving discrepancies. 4. Penalties and Charges: This clause outlines the penalties and charges imposed in case of imbalances exceeding predefined thresholds. It includes the calculation methodology for penalties and the procedures for invoicing and payment. 5. Reconciliation and Settlement: This part defines the procedure for reconciling and settling the imbalances on a periodic basis. It specifies the timeframe for reconciliation and the methods for calculating the net imbalances among the parties. It is important to note that the specific content and structure of Rhode Island Exhibit E to Operating Agreement Gas Balancing Agreement — Form 5 may vary based on the individual agreements and requirements of the parties involved. Therefore, it is recommended to review the specific exhibit for detailed information relevant to a particular gas balancing agreement within Rhode Island.

Rhode Island Exhibit E to Operating Agreement Gas Balancing Agreement — Form 5 is a legally binding document that outlines the provisions and terms related to gas balancing within the state of Rhode Island. This agreement is essential for ensuring the smooth and efficient functioning of gas operations while maintaining a balanced supply and demand of gas. The Rhode Island Exhibit E, being an integral part of the Operating Agreement Gas Balancing Agreement — Form 5, serves to address specific details pertaining to gas balancing within the state. It covers various key aspects, including gas allocation, measurement, imbalances, penalties, and reconciliation procedures. The purpose of this exhibit is to establish clear guidelines and procedures for gas balancing activities among the involved parties. Under the Rhode Island jurisdiction, there may be different types of Exhibit E to Operating Agreement Gas Balancing Agreement — Form 5, depending on the specific gas infrastructure, network, and stakeholders involved. These variations might be identified by the particular gas distribution company, gas supplier, or gas transportation system operator operating in different regions of Rhode Island. However, regardless of the specific types, the Exhibit E generally consists of clauses and provisions related to gas balancing. Some common elements included in this exhibit are: 1. Gas Allocation: This section outlines how the gas is allocated among the different parties involved, such as producers, suppliers, and customers. It details the methods and formulas used to determine the allocation proportions. 2. Measurement and Reporting: This part defines the measurement standards, units, and equipment to be used for quantifying the gas flow and determining imbalances. It also establishes the reporting requirements, including the frequency and format of imbalance reports. 3. Imbalances and Responsibilities: This section addresses the occurrence of imbalances between the actual gas quantity delivered and the allocated amount. It defines the responsibilities of each party involved in correcting imbalances, including the procedures for notifying and resolving discrepancies. 4. Penalties and Charges: This clause outlines the penalties and charges imposed in case of imbalances exceeding predefined thresholds. It includes the calculation methodology for penalties and the procedures for invoicing and payment. 5. Reconciliation and Settlement: This part defines the procedure for reconciling and settling the imbalances on a periodic basis. It specifies the timeframe for reconciliation and the methods for calculating the net imbalances among the parties. It is important to note that the specific content and structure of Rhode Island Exhibit E to Operating Agreement Gas Balancing Agreement — Form 5 may vary based on the individual agreements and requirements of the parties involved. Therefore, it is recommended to review the specific exhibit for detailed information relevant to a particular gas balancing agreement within Rhode Island.