This operating agreement exhibit is used in the event any party is not able to take its share of gas, or has contracted to sell its share of gas produced from the Contract Area to a purchaser which is unable at any time while the Operating Agreement is in effect to take the share of gas attributable to the interest of the party.
Harris Texas Exhibit E to Operating Agreement Gas Balancing Agreement — Form 1 is a legal document that outlines the terms and conditions for gas balancing in the Harris Texas region. This exhibit is typically included as part of an operating agreement between parties involved in the oil and gas industry. The purpose of the Gas Balancing Agreement is to ensure that gas production, processing, and transportation operations in Harris Texas are carried out smoothly, efficiently, and in compliance with applicable laws and regulations. This agreement serves as a framework for resolving any imbalances that may arise during the production and transportation of natural gas in the region. Keywords: Harris Texas, Exhibit E, Operating Agreement, Gas Balancing Agreement, Form 1, gas production, processing, transportation, oil and gas industry, imbalances. Different types of Harris Texas Exhibit E to Operating Agreement Gas Balancing Agreement — Form 1 may include variations based on the specific parties involved, contractual obligations, and operational requirements. Some possible variations or additional clauses that can be included in this exhibit are: 1. Pricing and Royalties: This section can detail the pricing mechanism for gas balancing, including factors such as market prices, quality differentials, and royalties payable to the relevant parties involved. 2. Measurement and Metering: This clause can outline the specific methods and equipment used to measure and meter the volume of gas produced, processed, and transported, ensuring accurate accounting and allocation of the gas. 3. Balancing Procedures: This section can provide a step-by-step process for reconciling and resolving gas imbalances between the different parties involved in the agreement. It can outline the timeline, notification requirements, and necessary actions to be taken in case of imbalances. 4. Penalties and Remedies: This clause can specify the penalties or remedies that may be imposed in case of non-compliance with the gas balancing agreement, including financial penalties or suspension of operations. 5. Dispute Resolution: This section can outline the procedures for resolving any disputes or disagreements that may arise between the parties regarding the interpretation or implementation of the gas balancing agreement. It may include provisions for negotiation, mediation, or arbitration. It is important to note that the specific contents and variations of Harris Texas Exhibit E to Operating Agreement Gas Balancing Agreement — Form 1 may vary depending on the agreement and the requirements of the parties involved. Therefore, it is crucial to carefully review and tailor the exhibit to suit the specific needs and circumstances of the gas operations in Harris Texas.Harris Texas Exhibit E to Operating Agreement Gas Balancing Agreement — Form 1 is a legal document that outlines the terms and conditions for gas balancing in the Harris Texas region. This exhibit is typically included as part of an operating agreement between parties involved in the oil and gas industry. The purpose of the Gas Balancing Agreement is to ensure that gas production, processing, and transportation operations in Harris Texas are carried out smoothly, efficiently, and in compliance with applicable laws and regulations. This agreement serves as a framework for resolving any imbalances that may arise during the production and transportation of natural gas in the region. Keywords: Harris Texas, Exhibit E, Operating Agreement, Gas Balancing Agreement, Form 1, gas production, processing, transportation, oil and gas industry, imbalances. Different types of Harris Texas Exhibit E to Operating Agreement Gas Balancing Agreement — Form 1 may include variations based on the specific parties involved, contractual obligations, and operational requirements. Some possible variations or additional clauses that can be included in this exhibit are: 1. Pricing and Royalties: This section can detail the pricing mechanism for gas balancing, including factors such as market prices, quality differentials, and royalties payable to the relevant parties involved. 2. Measurement and Metering: This clause can outline the specific methods and equipment used to measure and meter the volume of gas produced, processed, and transported, ensuring accurate accounting and allocation of the gas. 3. Balancing Procedures: This section can provide a step-by-step process for reconciling and resolving gas imbalances between the different parties involved in the agreement. It can outline the timeline, notification requirements, and necessary actions to be taken in case of imbalances. 4. Penalties and Remedies: This clause can specify the penalties or remedies that may be imposed in case of non-compliance with the gas balancing agreement, including financial penalties or suspension of operations. 5. Dispute Resolution: This section can outline the procedures for resolving any disputes or disagreements that may arise between the parties regarding the interpretation or implementation of the gas balancing agreement. It may include provisions for negotiation, mediation, or arbitration. It is important to note that the specific contents and variations of Harris Texas Exhibit E to Operating Agreement Gas Balancing Agreement — Form 1 may vary depending on the agreement and the requirements of the parties involved. Therefore, it is crucial to carefully review and tailor the exhibit to suit the specific needs and circumstances of the gas operations in Harris Texas.
