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.
Tarrant Texas Exhibit E to Operating Agreement Gas Balancing Agreement — Form 2 is a legal document that outlines the terms and conditions for gas balancing activities within the Tarrant Texas area. This agreement is specifically designed to regulate and manage the allocation and reconciliation of natural gas quantities among various parties involved in gas production, transportation, and distribution processes. The main purpose of Tarrant Texas Exhibit E to Operating Agreement Gas Balancing Agreement — Form 2 is to establish a clear framework for measuring, monitoring, and minimizing gas imbalances between the parties involved. Imbalances can occur due to differences in gas volumes entering and leaving the system, and this agreement aims to ensure equitable distribution and allocation of gas resources. Key provisions in Tarrant Texas Exhibit E to Operating Agreement Gas Balancing Agreement — Form 2 may include: 1. Gas Measurement: This section defines the standard measurement units and methods for calculating gas volumes, ensuring accurate monitoring and reporting of gas quantities. 2. Balancing Responsibilities: It outlines the responsibilities of each party involved in the gas balancing process, including gas producers, transporters, and end-users. This section clarifies the roles and obligations of each party to maintain a balanced gas system. 3. Imbalance Charges: This clause addresses the financial implications associated with gas imbalances. It may define penalty charges, reimbursements, or other payment mechanisms that parties agree to in case of imbalances. 4. Operating Procedures: This section details the procedures and guidelines for addressing gas imbalances. It may include provisions for notification of imbalances, reconciliation processes, and dispute resolution mechanisms. Some possible variations or types of Tarrant Texas Exhibit E to Operating Agreement Gas Balancing Agreement — Form 2 may include: 1. Tarrant Texas Exhibit E to Operating Agreement Gas Balancing Agreement — Form 2 for Gas Producers: This specific version may focus on the obligations and responsibilities of gas producers involved in gas balancing activities within Tarrant Texas. 2. Tarrant Texas Exhibit E to Operating Agreement Gas Balancing Agreement — Form 2 for Transporters: This version may outline the specific requirements and duties of gas transporters in maintaining gas balance within Tarrant Texas. 3. Tarrant Texas Exhibit E to Operating Agreement Gas Balancing Agreement — Form 2 for End-Users: This version may emphasize the rights and obligations of end-users, such as power plants or industrial facilities, regarding gas balancing and reconciliation within Tarrant Texas. In summary, Tarrant Texas Exhibit E to Operating Agreement Gas Balancing Agreement — Form 2 is a legally binding document that establishes the framework for gas balancing activities in the Tarrant Texas area. It ensures fair and efficient distribution of natural gas resources, provides guidelines for measurement and monitoring, and helps resolve any discrepancies or imbalances that may occur during gas production and transportation processes.Tarrant Texas Exhibit E to Operating Agreement Gas Balancing Agreement — Form 2 is a legal document that outlines the terms and conditions for gas balancing activities within the Tarrant Texas area. This agreement is specifically designed to regulate and manage the allocation and reconciliation of natural gas quantities among various parties involved in gas production, transportation, and distribution processes. The main purpose of Tarrant Texas Exhibit E to Operating Agreement Gas Balancing Agreement — Form 2 is to establish a clear framework for measuring, monitoring, and minimizing gas imbalances between the parties involved. Imbalances can occur due to differences in gas volumes entering and leaving the system, and this agreement aims to ensure equitable distribution and allocation of gas resources. Key provisions in Tarrant Texas Exhibit E to Operating Agreement Gas Balancing Agreement — Form 2 may include: 1. Gas Measurement: This section defines the standard measurement units and methods for calculating gas volumes, ensuring accurate monitoring and reporting of gas quantities. 2. Balancing Responsibilities: It outlines the responsibilities of each party involved in the gas balancing process, including gas producers, transporters, and end-users. This section clarifies the roles and obligations of each party to maintain a balanced gas system. 3. Imbalance Charges: This clause addresses the financial implications associated with gas imbalances. It may define penalty charges, reimbursements, or other payment mechanisms that parties agree to in case of imbalances. 4. Operating Procedures: This section details the procedures and guidelines for addressing gas imbalances. It may include provisions for notification of imbalances, reconciliation processes, and dispute resolution mechanisms. Some possible variations or types of Tarrant Texas Exhibit E to Operating Agreement Gas Balancing Agreement — Form 2 may include: 1. Tarrant Texas Exhibit E to Operating Agreement Gas Balancing Agreement — Form 2 for Gas Producers: This specific version may focus on the obligations and responsibilities of gas producers involved in gas balancing activities within Tarrant Texas. 2. Tarrant Texas Exhibit E to Operating Agreement Gas Balancing Agreement — Form 2 for Transporters: This version may outline the specific requirements and duties of gas transporters in maintaining gas balance within Tarrant Texas. 3. Tarrant Texas Exhibit E to Operating Agreement Gas Balancing Agreement — Form 2 for End-Users: This version may emphasize the rights and obligations of end-users, such as power plants or industrial facilities, regarding gas balancing and reconciliation within Tarrant Texas. In summary, Tarrant Texas Exhibit E to Operating Agreement Gas Balancing Agreement — Form 2 is a legally binding document that establishes the framework for gas balancing activities in the Tarrant Texas area. It ensures fair and efficient distribution of natural gas resources, provides guidelines for measurement and monitoring, and helps resolve any discrepancies or imbalances that may occur during gas production and transportation processes.
