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.
Lima, Arizona Exhibit E to Operating Agreement Gas Balancing Agreement — Form 3: A Comprehensive Overview The Lima, Arizona Exhibit E to Operating Agreement Gas Balancing Agreement — Form 3 is a crucial legal document that outlines the terms and conditions for gas balancing activities within the Lima area, located in the state of Arizona. This agreement plays a vital role in ensuring efficient gas operations and maintaining a balanced gas supply and demand infrastructure. In this Gas Balancing Agreement, Lima serves as the focal point for gas balancing, making it a significant component of gas distribution activities. The agreement defines the roles and responsibilities of the involved parties, including gas suppliers, gas transporters, and gas consumers, operating within the Lima area. This Agreement encompasses various key aspects related to gas balancing, such as: 1. Gas Supply and Demand: The Lima, Arizona Exhibit E to Operating Agreement Gas Balancing Agreement — Form 3 specifies the gas volumes required and the respective delivery points within the Lima area. It outlines the mechanisms for monitoring and adjusting gas supply to meet the demand accurately. 2. Measurement and Reporting: The agreement provides detailed guidelines for accurately measuring gas volumes, including the calibration of gas meters and reporting procedures. These measures ensure transparent and reliable gas balancing procedures. 3. Balancing Mechanisms: The Lima, Arizona Exhibit E to Operating Agreement Gas Balancing Agreement — Form 3 identifies the procedures for maintaining a balanced gas system through supply adjustments. It incorporates protocols for gas injection, withdrawal, and storage operations, allowing for effective gas balancing. 4. Communication Channels: The agreement establishes communication channels and contact details for all parties involved in the gas balancing process. This ensures prompt and efficient coordination between different stakeholders, facilitating swift decision-making and problem resolution. 5. Dispute Resolution: In cases of disputes or disagreements, the agreement provides guidelines and procedures for resolving them amicably. It may include arbitration or mediation processes to ensure fair and just resolutions. Different Types of Lima, Arizona Exhibit E to Operating Agreement Gas Balancing Agreement — Form 3: 1. Base Gas Balancing Agreement: This type of agreement serves as the fundamental framework for gas balancing operations in the Lima area. It lays the foundation for all subsequent agreements and defines the core principles and procedures. 2. Supplemental/Addendum Agreement: These agreements act as extensions or additions to the base agreement, incorporating specific provisions or modifications as deemed necessary by the parties involved. They may address additional gas balancing requirements or adapt to changing industry standards. 3. Revised Agreement: Revised agreements are updated versions of the original base agreement or its supplemental agreements. They reflect any revisions or amendments made to the initial terms and conditions over time, ensuring the agreement remains up-to-date and in line with evolving industry practices. In summary, the Lima, Arizona Exhibit E to Operating Agreement Gas Balancing Agreement — Form 3 serves as a vital document governing gas balancing activities within the Lima area. It outlines the responsibilities of different parties and provides necessary guidelines for gas supply and demand management, metering procedures, and dispute resolution mechanisms. Understanding and adhering to this agreement ensures efficient and well-regulated gas operations in the Lima, Arizona region.Lima, Arizona Exhibit E to Operating Agreement Gas Balancing Agreement — Form 3: A Comprehensive Overview The Lima, Arizona Exhibit E to Operating Agreement Gas Balancing Agreement — Form 3 is a crucial legal document that outlines the terms and conditions for gas balancing activities within the Lima area, located in the state of Arizona. This agreement plays a vital role in ensuring efficient gas operations and maintaining a balanced gas supply and demand infrastructure. In this Gas Balancing Agreement, Lima serves as the focal point for gas balancing, making it a significant component of gas distribution activities. The agreement defines the roles and responsibilities of the involved parties, including gas suppliers, gas transporters, and gas consumers, operating within the Lima area. This Agreement encompasses various key aspects related to gas balancing, such as: 1. Gas Supply and Demand: The Lima, Arizona Exhibit E to Operating Agreement Gas Balancing Agreement — Form 3 specifies the gas volumes required and the respective delivery points within the Lima area. It outlines the mechanisms for monitoring and adjusting gas supply to meet the demand accurately. 2. Measurement and Reporting: The agreement provides detailed guidelines for accurately measuring gas volumes, including the calibration of gas meters and reporting procedures. These measures ensure transparent and reliable gas balancing procedures. 3. Balancing Mechanisms: The Lima, Arizona Exhibit E to Operating Agreement Gas Balancing Agreement — Form 3 identifies the procedures for maintaining a balanced gas system through supply adjustments. It incorporates protocols for gas injection, withdrawal, and storage operations, allowing for effective gas balancing. 4. Communication Channels: The agreement establishes communication channels and contact details for all parties involved in the gas balancing process. This ensures prompt and efficient coordination between different stakeholders, facilitating swift decision-making and problem resolution. 5. Dispute Resolution: In cases of disputes or disagreements, the agreement provides guidelines and procedures for resolving them amicably. It may include arbitration or mediation processes to ensure fair and just resolutions. Different Types of Lima, Arizona Exhibit E to Operating Agreement Gas Balancing Agreement — Form 3: 1. Base Gas Balancing Agreement: This type of agreement serves as the fundamental framework for gas balancing operations in the Lima area. It lays the foundation for all subsequent agreements and defines the core principles and procedures. 2. Supplemental/Addendum Agreement: These agreements act as extensions or additions to the base agreement, incorporating specific provisions or modifications as deemed necessary by the parties involved. They may address additional gas balancing requirements or adapt to changing industry standards. 3. Revised Agreement: Revised agreements are updated versions of the original base agreement or its supplemental agreements. They reflect any revisions or amendments made to the initial terms and conditions over time, ensuring the agreement remains up-to-date and in line with evolving industry practices. In summary, the Lima, Arizona Exhibit E to Operating Agreement Gas Balancing Agreement — Form 3 serves as a vital document governing gas balancing activities within the Lima area. It outlines the responsibilities of different parties and provides necessary guidelines for gas supply and demand management, metering procedures, and dispute resolution mechanisms. Understanding and adhering to this agreement ensures efficient and well-regulated gas operations in the Lima, Arizona region.
