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.
Utah Exhibit E to Operating Agreement Gas Balancing Agreement — Form 4 serves as a crucial document in the oil and gas industry, specifically in the state of Utah. This agreement plays a significant role in balancing gas usage and ensuring the smooth operation of gas production facilities. The Utah Exhibit E to Operating Agreement Gas Balancing Agreement — Form 4 outlines the terms and conditions under which gas balancing activities are conducted between different parties involved in the production, transportation, and distribution of natural gas resources in Utah. It provides a comprehensive framework for gas balancing, which ensures fair and efficient utilization of gas supplies among the parties. This form contains various relevant components, including: 1. Gas Balancing Criteria: The agreement establishes specific criteria for gas balancing, such as allowable imbalances, measurement units, and tolerances. These criteria ensure that gas allocations remain within acceptable limits and minimize any discrepancies or imbalances. 2. Imbalance Resolution: The form outlines the procedures for correcting any imbalances detected during gas production, transportation, or distribution. It details how discrepancies are identified, reported, and resolved between the involved parties, ensuring accurate gas measurement and accounting. 3. Measurement and Reporting: The agreement specifies the measurement methods and instruments to be used for monitoring and recording gas flows. It also highlights the frequency and format of reporting gas balancing data between the parties involved, ensuring transparency and accountability. 4. Penalties and Dispute Resolution: The document outlines penalties or fees associated with imbalances exceeding the agreed-upon limits. It also lays out the dispute resolution mechanisms to handle any disagreements or conflicts arising from gas balancing activities, promoting fair and equitable solutions. Different types of Utah Exhibit E to Operating Agreement Gas Balancing Agreement — Form 4 might exist based on specific variations in the terms and conditions set by different stakeholders. These variations could include, but are not limited to, differences in allowable imbalances, measurement units, resolution procedures, or penalties. It is important for stakeholders to carefully review and customize the form to suit their specific requirements. In conclusion, the Utah Exhibit E to Operating Agreement Gas Balancing Agreement — Form 4 is a crucial legal document that ensures efficient gas balancing operations in Utah's oil and gas industry. Its comprehensive framework and detailed provisions help maintain fairness, accuracy, and accountability in gas production, transportation, and distribution processes.Utah Exhibit E to Operating Agreement Gas Balancing Agreement — Form 4 serves as a crucial document in the oil and gas industry, specifically in the state of Utah. This agreement plays a significant role in balancing gas usage and ensuring the smooth operation of gas production facilities. The Utah Exhibit E to Operating Agreement Gas Balancing Agreement — Form 4 outlines the terms and conditions under which gas balancing activities are conducted between different parties involved in the production, transportation, and distribution of natural gas resources in Utah. It provides a comprehensive framework for gas balancing, which ensures fair and efficient utilization of gas supplies among the parties. This form contains various relevant components, including: 1. Gas Balancing Criteria: The agreement establishes specific criteria for gas balancing, such as allowable imbalances, measurement units, and tolerances. These criteria ensure that gas allocations remain within acceptable limits and minimize any discrepancies or imbalances. 2. Imbalance Resolution: The form outlines the procedures for correcting any imbalances detected during gas production, transportation, or distribution. It details how discrepancies are identified, reported, and resolved between the involved parties, ensuring accurate gas measurement and accounting. 3. Measurement and Reporting: The agreement specifies the measurement methods and instruments to be used for monitoring and recording gas flows. It also highlights the frequency and format of reporting gas balancing data between the parties involved, ensuring transparency and accountability. 4. Penalties and Dispute Resolution: The document outlines penalties or fees associated with imbalances exceeding the agreed-upon limits. It also lays out the dispute resolution mechanisms to handle any disagreements or conflicts arising from gas balancing activities, promoting fair and equitable solutions. Different types of Utah Exhibit E to Operating Agreement Gas Balancing Agreement — Form 4 might exist based on specific variations in the terms and conditions set by different stakeholders. These variations could include, but are not limited to, differences in allowable imbalances, measurement units, resolution procedures, or penalties. It is important for stakeholders to carefully review and customize the form to suit their specific requirements. In conclusion, the Utah Exhibit E to Operating Agreement Gas Balancing Agreement — Form 4 is a crucial legal document that ensures efficient gas balancing operations in Utah's oil and gas industry. Its comprehensive framework and detailed provisions help maintain fairness, accuracy, and accountability in gas production, transportation, and distribution processes.
