This operating agreement exhibit provides that each party has the right to take in kind its share of gas produced from the Contract Area and market or otherwise dispose of its gas. In the event any party is not, at any time, taking or marketing its share of gas, or has contracted to sell its share of gas produced from the Contract Area to a purchaser which does not, at any time, take the full share of gas attributable to the interest of the party, then the terms of this agreement shall automatically become operative.
Harris Texas Exhibit E to Operating Agreement Gas Balancing Agreement — Form 2 is a legal document that outlines the terms and conditions for gas balancing in Harris County, Texas. This agreement is crucial for ensuring smooth operations in the energy industry and maintaining a proper balance of gas supply and demand. In this agreement, the roles and responsibilities of the parties involved in gas balancing are detailed. The agreement may vary depending on the specific circumstances and requirements of the parties involved. Different types of Harris Texas Exhibit E to Operating Agreement Gas Balancing Agreement — Form 2 may include variations based on factors like: 1. Gas Balancing Methods: The agreement may specify different methods for gas balancing, such as "line pack," where the natural gas supply is adjusted to maintain a desired pressure level in the pipeline, or "storage," where stored gas is used to balance supply and demand. 2. Timeframes: The agreement may contain provisions regarding the duration of the gas balancing arrangement, including start and end dates. It may also include clauses relating to any penalties or fees for non-compliance with agreed-upon gas balancing terms during specific timeframes. 3. Gas Balancing Procedures: The agreement may outline the procedures to be followed for gas balancing operations, including nomination and confirmation processes for gas deliveries and withdrawals from storage facilities. It may also address measurement, data reporting, and verification requirements. 4. Compensation: The agreement may include provisions related to compensation for gas balancing services provided. It could outline the payment terms, methods, and any additional costs or penalties associated with imbalances. 5. Force Mature: The agreement may have clauses addressing unforeseen events that can disrupt gas balancing operations, such as hurricanes, earthquakes, or other natural disasters. These "force majeure" provisions determine how parties will manage imbalances caused by such events and the corresponding consequences. It is important to review the specific Harris Texas Exhibit E to Operating Agreement Gas Balancing Agreement — Form 2 to understand the exact terms and conditions it encompasses. This document plays a crucial role in facilitating efficient gas operations, mitigating imbalances, and ensuring a steady supply of natural gas in Harris County, Texas.Harris Texas Exhibit E to Operating Agreement Gas Balancing Agreement — Form 2 is a legal document that outlines the terms and conditions for gas balancing in Harris County, Texas. This agreement is crucial for ensuring smooth operations in the energy industry and maintaining a proper balance of gas supply and demand. In this agreement, the roles and responsibilities of the parties involved in gas balancing are detailed. The agreement may vary depending on the specific circumstances and requirements of the parties involved. Different types of Harris Texas Exhibit E to Operating Agreement Gas Balancing Agreement — Form 2 may include variations based on factors like: 1. Gas Balancing Methods: The agreement may specify different methods for gas balancing, such as "line pack," where the natural gas supply is adjusted to maintain a desired pressure level in the pipeline, or "storage," where stored gas is used to balance supply and demand. 2. Timeframes: The agreement may contain provisions regarding the duration of the gas balancing arrangement, including start and end dates. It may also include clauses relating to any penalties or fees for non-compliance with agreed-upon gas balancing terms during specific timeframes. 3. Gas Balancing Procedures: The agreement may outline the procedures to be followed for gas balancing operations, including nomination and confirmation processes for gas deliveries and withdrawals from storage facilities. It may also address measurement, data reporting, and verification requirements. 4. Compensation: The agreement may include provisions related to compensation for gas balancing services provided. It could outline the payment terms, methods, and any additional costs or penalties associated with imbalances. 5. Force Mature: The agreement may have clauses addressing unforeseen events that can disrupt gas balancing operations, such as hurricanes, earthquakes, or other natural disasters. These "force majeure" provisions determine how parties will manage imbalances caused by such events and the corresponding consequences. It is important to review the specific Harris Texas Exhibit E to Operating Agreement Gas Balancing Agreement — Form 2 to understand the exact terms and conditions it encompasses. This document plays a crucial role in facilitating efficient gas operations, mitigating imbalances, and ensuring a steady supply of natural gas in Harris County, Texas.
