Palm Beach Florida Exhibit E to Operating Agreement Gas Balancing Agreement - Form 4

State:
Multi-State
County:
Palm Beach
Control #:
US-OG-748
Format:
Word; 
Rich Text
Instant download

Description

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.

Palm Beach, Florida is a popular tourist destination located on the eastern coast of the state. Known for its beautiful beaches, luxurious resorts, and vibrant nightlife, Palm Beach offers a wide range of attractions and activities for visitors to enjoy. Exhibit E to the Operating Agreement Gas Balancing Agreement — Form 4 in Palm Beach, Florida is an important legal document that outlines the terms and conditions for gas balancing within a specific operating agreement. This exhibit is designed to ensure that gas resources are efficiently managed and distributed among parties involved in the agreement. Within Palm Beach, Florida, there may be different types of Exhibit E to Operating Agreement Gas Balancing Agreement — Form 4, depending on the specific industry or sector involved. For example, there could be gas balancing agreements related to onshore drilling operations, offshore gas exploration, or even natural gas distribution systems. Each type of agreement would have its own unique requirements and regulations to ensure fair and efficient gas balancing practices. Overall, Exhibit E to Operating Agreement Gas Balancing Agreement — Form 4 in Palm Beach, Florida plays a significant role in the effective management of gas resources, promoting cooperation and fairness among the parties involved. This legal document helps to maintain a balanced gas supply while ensuring the overall efficiency and sustainability of gas operations in the Palm Beach area.

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FAQ

An operating agreement is a legally binding document that limited liability companies (LLCs) use to outline how the company is managed, who has ownership, and how it is structured. If a company is a multi-member LLC , the operating agreement becomes a binding contract between the different members.

What is a Gas Balancing Arrangement? A gas balancing arrangement settles the over-use or under-use of a gas well by the various partners who have interests in it. This arrangement is needed when there are two or more partners in a gas well.

In the world of natural gas pipelines, an imbalance is generally defined as the difference. between a shipper's deliveries of natural gas into the pipeline system and re-deliveries of the. shipper's natural gas off of the system, taking into account fuel used in pipeline operations and. lost and unaccounted for gas.

Unit Operating Agreement means any operating or unit agreement to which a Company is a party or by which it is legally or contractually bound governing oil and gas drilling, completion, and other operations and related activities in any Unit.

The Joint Operating Agreements (JOA) is a contractual agreement between two or more parties with shared interests in a tract or leasehold that outlines coordinated exploration, development and production activities in a designated contract area.

An operating agreement is an agreement for sharing the costs and the rewards of an oil and gas operation. Parties to the agreement are the working interest owners of the leasehold estates in the lands upon which the operations are to be conducted.

An operating agreement outlines the relationship between business owners, and articles of incorporation outline a business's relationship with the state. All limited liability companies can benefit from having an operating agreement and a certificate of formation.

Gas balancing helps to keep production of an oil well flexible while still accounting for situations in which a site has over- or underproduced in a given time period, such as a month or quarter, or when one owner has sold more of a share of the gas stream than other owners.

An operating agreement is a key document used by LLCs because it outlines the business' financial and functional decisions including rules, regulations and provisions. The purpose of the document is to govern the internal operations of the business in a way that suits the specific needs of the business owners.

An Operational Balancing Agreement ("OBA") is a contract between two parties which specifies the procedures to manage operating variances at an interconnection between pipelines.

More info

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Palm Beach Florida Exhibit E to Operating Agreement Gas Balancing Agreement - Form 4