Washington 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. Washington Exhibit E to Operating Agreement Gas Balancing Agreement — Form 5 is a crucial legal document that outlines the terms, conditions, and procedures for gas balancing activities in Washington. It is an essential part of the operating agreement between gas companies and their clients. This exhibit serves as a comprehensive guide to ensure the seamless balancing of gas supply and demand, maintaining the integrity of the gas delivery system. It outlines the rights, responsibilities, and obligations of both parties involved in the gas balancing process. The Washington Exhibit E to Operating Agreement Gas Balancing Agreement — Form 5 may vary slightly based on specific gas companies and contractual agreements. However, the fundamental components typically include: 1. Purpose: This section defines the primary objective of the gas balancing agreement, which is to ensure that gas supply matches the demand while optimizing the performance and efficiency of the gas system. 2. Definitions: This section provides a detailed explanation of key terms used throughout the agreement, ensuring clarity and understanding for all parties involved. It may include definitions for terms like "balancing gas," "imbalance," "operating day," and more. 3. Balancing Principles: This section describes the principles and methodologies used for gas balancing in Washington. It includes the rules and procedures to determine how imbalances will be rectified and who bears the costs associated with any imbalances. 4. Nomination and Scheduling: This section outlines the nomination and scheduling process for gas supply and delivery. It establishes deadlines and requirements for gas companies to submit accurate and timely nominations, ensuring efficient coordination between the parties. 5. Measurement and Calculation: This section specifies the measurement and calculation methods used to determine gas imbalances. It covers metering accuracy, conversion factors, and any specific tools or software utilized to record and calculate gas quantities. 6. Balancing Services and Charges: This section details the various balancing services provided by the gas company and the associated charges. It includes fees for gas imbalance penalties, operational differences, and other costs incurred during the balancing process. 7. Dispute Resolution: This section explains how disputes related to gas balancing will be resolved, whether through negotiation, mediation, or arbitration. It may also include provisions for litigation if the dispute resolution methods fail. 8. Force Mature: This section addresses the occurrence of force majeure events that may affect gas balancing activities. It outlines the procedures to be followed and the parties' responsibilities in such situations. Different types or variations of Washington Exhibit E to Operating Agreement Gas Balancing Agreement — Form 5 may exist due to specific nuances or modifications required by individual gas companies or regulatory bodies. However, the fundamental purpose and content remain consistent, serving as a legal framework to govern gas balancing operations in Washington.

Washington Exhibit E to Operating Agreement Gas Balancing Agreement — Form 5 is a crucial legal document that outlines the terms, conditions, and procedures for gas balancing activities in Washington. It is an essential part of the operating agreement between gas companies and their clients. This exhibit serves as a comprehensive guide to ensure the seamless balancing of gas supply and demand, maintaining the integrity of the gas delivery system. It outlines the rights, responsibilities, and obligations of both parties involved in the gas balancing process. The Washington Exhibit E to Operating Agreement Gas Balancing Agreement — Form 5 may vary slightly based on specific gas companies and contractual agreements. However, the fundamental components typically include: 1. Purpose: This section defines the primary objective of the gas balancing agreement, which is to ensure that gas supply matches the demand while optimizing the performance and efficiency of the gas system. 2. Definitions: This section provides a detailed explanation of key terms used throughout the agreement, ensuring clarity and understanding for all parties involved. It may include definitions for terms like "balancing gas," "imbalance," "operating day," and more. 3. Balancing Principles: This section describes the principles and methodologies used for gas balancing in Washington. It includes the rules and procedures to determine how imbalances will be rectified and who bears the costs associated with any imbalances. 4. Nomination and Scheduling: This section outlines the nomination and scheduling process for gas supply and delivery. It establishes deadlines and requirements for gas companies to submit accurate and timely nominations, ensuring efficient coordination between the parties. 5. Measurement and Calculation: This section specifies the measurement and calculation methods used to determine gas imbalances. It covers metering accuracy, conversion factors, and any specific tools or software utilized to record and calculate gas quantities. 6. Balancing Services and Charges: This section details the various balancing services provided by the gas company and the associated charges. It includes fees for gas imbalance penalties, operational differences, and other costs incurred during the balancing process. 7. Dispute Resolution: This section explains how disputes related to gas balancing will be resolved, whether through negotiation, mediation, or arbitration. It may also include provisions for litigation if the dispute resolution methods fail. 8. Force Mature: This section addresses the occurrence of force majeure events that may affect gas balancing activities. It outlines the procedures to be followed and the parties' responsibilities in such situations. Different types or variations of Washington Exhibit E to Operating Agreement Gas Balancing Agreement — Form 5 may exist due to specific nuances or modifications required by individual gas companies or regulatory bodies. However, the fundamental purpose and content remain consistent, serving as a legal framework to govern gas balancing operations in Washington.