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.
Chicago, Illinois Exhibit E to Operating Agreement Gas Balancing Agreement — Form 3 is a crucial document that outlines the specific terms and conditions related to gas balancing in Chicago, Illinois. This agreement is commonly used within the energy industry for gas trading and transportation purposes. The Gas Balancing Agreement serves as an addendum or exhibit to the Operating Agreement, which is a comprehensive legal document that governs the rights and responsibilities of parties involved in gas operations within the Chicago, Illinois region. It is essential to have a well-defined gas balancing agreement to ensure efficient and equitable distribution of gas resources and maintain stability in the gas market. This agreement outlines the gas balancing procedures, reporting requirements, and the obligations of each party involved in the gas trading and transportation processes. The Chicago, Illinois Exhibit E to Operating Agreement Gas Balancing Agreement — Form 3 may have different variations or types depending on the specific needs or circumstances of the parties involved. These variations can include: 1. Gas Balancing Agreement for Pipeline Operators: This type of agreement is specifically designed for pipeline operators involved in transporting gas within the Chicago, Illinois region. It outlines the responsibilities of the pipeline operators in terms of maintaining the balance of gas supply and demand and ensuring efficient delivery. 2. Gas Balancing Agreement for Gas Producers: This type of agreement is tailored for gas producers who extract gas resources in the Chicago, Illinois region. It outlines the producer's obligations in terms of gas supply, measurement, and reporting requirements to maintain the balance of gas volumes. 3. Gas Balancing Agreement for Gas Buyers/Marketers: This type of agreement caters to gas buyers or marketers involved in purchasing and selling gas in the Chicago, Illinois market. It outlines the responsibilities of buyers/marketers in terms of gas procurement, balancing, and reporting ensuring compliance with the agreed-upon terms. While these variations exist, the core purpose of all Chicago, Illinois Exhibit E to Operating Agreement Gas Balancing Agreements — Form 3 is to govern the gas balancing activities accurately and efficiently within the Chicago, Illinois energy market. The document plays a critical role in establishing a transparent and fair environment for gas trading and transportation, ultimately contributing to the overall stability and reliability of the gas supply chain in the region.Chicago, Illinois Exhibit E to Operating Agreement Gas Balancing Agreement — Form 3 is a crucial document that outlines the specific terms and conditions related to gas balancing in Chicago, Illinois. This agreement is commonly used within the energy industry for gas trading and transportation purposes. The Gas Balancing Agreement serves as an addendum or exhibit to the Operating Agreement, which is a comprehensive legal document that governs the rights and responsibilities of parties involved in gas operations within the Chicago, Illinois region. It is essential to have a well-defined gas balancing agreement to ensure efficient and equitable distribution of gas resources and maintain stability in the gas market. This agreement outlines the gas balancing procedures, reporting requirements, and the obligations of each party involved in the gas trading and transportation processes. The Chicago, Illinois Exhibit E to Operating Agreement Gas Balancing Agreement — Form 3 may have different variations or types depending on the specific needs or circumstances of the parties involved. These variations can include: 1. Gas Balancing Agreement for Pipeline Operators: This type of agreement is specifically designed for pipeline operators involved in transporting gas within the Chicago, Illinois region. It outlines the responsibilities of the pipeline operators in terms of maintaining the balance of gas supply and demand and ensuring efficient delivery. 2. Gas Balancing Agreement for Gas Producers: This type of agreement is tailored for gas producers who extract gas resources in the Chicago, Illinois region. It outlines the producer's obligations in terms of gas supply, measurement, and reporting requirements to maintain the balance of gas volumes. 3. Gas Balancing Agreement for Gas Buyers/Marketers: This type of agreement caters to gas buyers or marketers involved in purchasing and selling gas in the Chicago, Illinois market. It outlines the responsibilities of buyers/marketers in terms of gas procurement, balancing, and reporting ensuring compliance with the agreed-upon terms. While these variations exist, the core purpose of all Chicago, Illinois Exhibit E to Operating Agreement Gas Balancing Agreements — Form 3 is to govern the gas balancing activities accurately and efficiently within the Chicago, Illinois energy market. The document plays a critical role in establishing a transparent and fair environment for gas trading and transportation, ultimately contributing to the overall stability and reliability of the gas supply chain in the region.
