This operating agreement exhibit states the intent of the Parties that each Party shall have the right to take in kind and separately dispose of its proportionate share of gas (including casinghead gas) produced from each formation in each well located on the acreage (the "Contract Area") covered by the Operating Agreement.
Allegheny Pennsylvania Exhibit E to Operating Agreement Gas Balancing Agreement — Form 3 is a legal document that outlines the specific terms and conditions related to gas balancing activities in the Allegheny region of Pennsylvania. This agreement serves as an addendum to the operating agreement between the involved parties and provides clarity on gas balancing procedures, responsibilities, and obligations. The Allegheny Pennsylvania Exhibit E to Operating Agreement Gas Balancing Agreement — Form 3 addresses several key aspects. Firstly, it defines the scope of the agreement, which typically includes the identification of the gas wells and pipeline systems involved in the balancing process. It also provides an overview of the specific gas balancing methodology to be employed, ensuring that gas supplies remain equitable among the parties. Furthermore, this exhibit outlines the parties' responsibilities in gas balancing activities. It includes provisions for measuring and reporting gas production, allocating gas usage, and providing the necessary information for accurate balancing calculations. Each party's obligation to maintain accurate records and provide timely notifications of imbalances or discrepancies is also covered in this document. In addition, this exhibit addresses the billing and settlement procedures for gas imbalances. It stipulates the frequency of billing, the calculation methods for imbalance charges, and the timeline for payment. The agreement may also specify any penalties or interest to be applied in case of late payments. There may be different versions or revisions of the Allegheny Pennsylvania Exhibit E to Operating Agreement Gas Balancing Agreement — Form 3, depending on the parties involved and the specific requirements of the gas balancing process. These variants could be labeled by the date of execution or by an assigned version number, such as "Allegheny Pennsylvania Exhibit E to Operating Agreement Gas Balancing Agreement — Form 3, Version 2.0" or "Allegheny Pennsylvania Exhibit E to Operating Agreement Gas Balancing Agreement — Form 3, Revised 2021." Overall, the Allegheny Pennsylvania Exhibit E to Operating Agreement Gas Balancing Agreement — Form 3 plays a crucial role in facilitating fair and efficient gas balancing operations in the Allegheny region. It ensures transparency, accuracy, and mutual compliance among the parties involved, ultimately contributing to the effective management of gas resources and the success of gas-related ventures in the area.Allegheny Pennsylvania Exhibit E to Operating Agreement Gas Balancing Agreement — Form 3 is a legal document that outlines the specific terms and conditions related to gas balancing activities in the Allegheny region of Pennsylvania. This agreement serves as an addendum to the operating agreement between the involved parties and provides clarity on gas balancing procedures, responsibilities, and obligations. The Allegheny Pennsylvania Exhibit E to Operating Agreement Gas Balancing Agreement — Form 3 addresses several key aspects. Firstly, it defines the scope of the agreement, which typically includes the identification of the gas wells and pipeline systems involved in the balancing process. It also provides an overview of the specific gas balancing methodology to be employed, ensuring that gas supplies remain equitable among the parties. Furthermore, this exhibit outlines the parties' responsibilities in gas balancing activities. It includes provisions for measuring and reporting gas production, allocating gas usage, and providing the necessary information for accurate balancing calculations. Each party's obligation to maintain accurate records and provide timely notifications of imbalances or discrepancies is also covered in this document. In addition, this exhibit addresses the billing and settlement procedures for gas imbalances. It stipulates the frequency of billing, the calculation methods for imbalance charges, and the timeline for payment. The agreement may also specify any penalties or interest to be applied in case of late payments. There may be different versions or revisions of the Allegheny Pennsylvania Exhibit E to Operating Agreement Gas Balancing Agreement — Form 3, depending on the parties involved and the specific requirements of the gas balancing process. These variants could be labeled by the date of execution or by an assigned version number, such as "Allegheny Pennsylvania Exhibit E to Operating Agreement Gas Balancing Agreement — Form 3, Version 2.0" or "Allegheny Pennsylvania Exhibit E to Operating Agreement Gas Balancing Agreement — Form 3, Revised 2021." Overall, the Allegheny Pennsylvania Exhibit E to Operating Agreement Gas Balancing Agreement — Form 3 plays a crucial role in facilitating fair and efficient gas balancing operations in the Allegheny region. It ensures transparency, accuracy, and mutual compliance among the parties involved, ultimately contributing to the effective management of gas resources and the success of gas-related ventures in the area.
