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.
Wake North Carolina Exhibit E to Operating Agreement Gas Balancing Agreement — Form 1 is a legally binding document that outlines the terms and conditions related to gas balancing in Wake County, North Carolina. This agreement is crucial for natural gas companies operating in the area to ensure fair and efficient distribution of gas resources. The Gas Balancing Agreement is a specific type of operating agreement that focuses on the management and maintenance of gas levels and pressures within the Wake County region. It establishes a framework for gas suppliers and distributors to collaborate and coordinate their efforts to balance the demand and supply of natural gas. The Wake North Carolina Exhibit E to Operating Agreement is a key component of the overall Gas Balancing Agreement, which provides additional details, guidelines, and specific provisions related to gas balancing activities. This exhibit serves to supplement the primary agreement by addressing important aspects such as gas storage, injection and withdrawal procedures, measurement and monitoring requirements, and dispute resolution mechanisms. Within this Exhibit E, several types of gas balancing activities might be outlined, each tailored to suit the specific needs and challenges of Wake County. These may include but are not limited to: 1. Gas Storage Facilities: This section governs the storage of excess natural gas to ensure a reliable supply during peak demand periods. It includes details on facility capacity, withdrawal rights, and guidelines for inventory management. 2. Injection and Withdrawal Procedures: This subsection outlines the procedures and protocols involved in injecting and withdrawing gas from storage facilities. It covers topics like scheduling, notification requirements, and operational parameters to maintain system integrity. 3. Measurement and Monitoring: This section specifies the measurement and monitoring requirements necessary to accurately track gas flow, pressure, and inventory levels. It may include details on metering equipment, data reporting, and auditing processes to ensure compliance and transparency. 4. Penalties and Dispute Resolution: in the event of non-compliance or disputes, this part of Exhibit E provides a framework for imposing penalties, resolving disagreements, and settling conflicts amongst the parties involved. It may outline escalation procedures, mediation, and arbitration mechanisms to maintain a fair and harmonious working relationship. The Wake North Carolina Exhibit E to Operating Agreement Gas Balancing Agreement — Form 1 is a critical document that ensures the smooth and efficient operation of gas distribution systems in Wake County. By addressing various aspects of gas balancing, it facilitates fair resource allocation, reliable supply, and effective collaboration amongst gas industry stakeholders.Wake North Carolina Exhibit E to Operating Agreement Gas Balancing Agreement — Form 1 is a legally binding document that outlines the terms and conditions related to gas balancing in Wake County, North Carolina. This agreement is crucial for natural gas companies operating in the area to ensure fair and efficient distribution of gas resources. The Gas Balancing Agreement is a specific type of operating agreement that focuses on the management and maintenance of gas levels and pressures within the Wake County region. It establishes a framework for gas suppliers and distributors to collaborate and coordinate their efforts to balance the demand and supply of natural gas. The Wake North Carolina Exhibit E to Operating Agreement is a key component of the overall Gas Balancing Agreement, which provides additional details, guidelines, and specific provisions related to gas balancing activities. This exhibit serves to supplement the primary agreement by addressing important aspects such as gas storage, injection and withdrawal procedures, measurement and monitoring requirements, and dispute resolution mechanisms. Within this Exhibit E, several types of gas balancing activities might be outlined, each tailored to suit the specific needs and challenges of Wake County. These may include but are not limited to: 1. Gas Storage Facilities: This section governs the storage of excess natural gas to ensure a reliable supply during peak demand periods. It includes details on facility capacity, withdrawal rights, and guidelines for inventory management. 2. Injection and Withdrawal Procedures: This subsection outlines the procedures and protocols involved in injecting and withdrawing gas from storage facilities. It covers topics like scheduling, notification requirements, and operational parameters to maintain system integrity. 3. Measurement and Monitoring: This section specifies the measurement and monitoring requirements necessary to accurately track gas flow, pressure, and inventory levels. It may include details on metering equipment, data reporting, and auditing processes to ensure compliance and transparency. 4. Penalties and Dispute Resolution: in the event of non-compliance or disputes, this part of Exhibit E provides a framework for imposing penalties, resolving disagreements, and settling conflicts amongst the parties involved. It may outline escalation procedures, mediation, and arbitration mechanisms to maintain a fair and harmonious working relationship. The Wake North Carolina Exhibit E to Operating Agreement Gas Balancing Agreement — Form 1 is a critical document that ensures the smooth and efficient operation of gas distribution systems in Wake County. By addressing various aspects of gas balancing, it facilitates fair resource allocation, reliable supply, and effective collaboration amongst gas industry stakeholders.
