This operating agreement exhibit takes effect if any party takes and disposes of less than its percentage interest share of gas (including casinghead gas) produced and saved during any calendar month. The volume not taken by that party may be taken by any other party or parties.
Harris Texas Exhibit E to Operating Agreement Gas Balancing Agreement — Form 4 is a legal document that outlines the terms and conditions for gas balancing agreements in Harris County, Texas. This agreement is crucial for ensuring the efficient distribution and management of natural gas resources among different parties involved. The purpose of the Harris Texas Exhibit E to Operating Agreement Gas Balancing Agreement — Form 4 is to allocate gas deliveries, withdrawals, and imbalances between the parties involved. It helps maintain balance and fairness in gas operations and prevents any disruptions or discrepancies in gas supply. This specific form, known as Harris Texas Exhibit E, serves as an essential appendix to the main Operating Agreement Gas Balancing Agreement. It provides specific guidelines and procedures for managing gas balancing operations in Harris County, Texas. The key elements addressed in Harris Texas Exhibit E include: 1. Gas Balancing Procedures: This section outlines the step-by-step process for balancing gas among the parties. It includes details on measurement, allocation, and reconciliation methods to ensure accurate calculations and fair distribution of gas quantities. 2. Imbalance Resolution: This section outlines the procedures to resolve any imbalances that may occur during gas operations. It specifies deadlines, notification requirements, and penalties for late or inaccurate reporting. 3. Measurement and Reporting: This section focuses on accurate measurement of gas quantities and reporting requirements. It covers metering equipment, meter reading practices, data transmission, and any necessary audits or inspections. 4. Nomination and Scheduling: This part explains the process of submitting gas nominations and scheduling gas deliveries within the agreed-upon timeframes. It ensures that all parties involved have a clear understanding of their roles and responsibilities in the gas balancing process. It is important to note that Harris Texas Exhibit E to Operating Agreement Gas Balancing Agreement — Form 4 may have variations or subtypes based on specific agreements or amendments for different gas entities in Harris County, Texas. These variations might include updates or revisions to the original form to cater to specific needs or regulatory requirements. Parties involved in gas operations would need to refer to their respective agreements and associated exhibits.
