Wake North Carolina Exhibit E to Operating Agreement Gas Balancing Agreement - Form 5

• Category: Oil Gas and Minerals - Agreements
• State: Multi-State
• County: Wake
• Control #: US-OG-749
• Format: Word; Rich Text

Description

This operating agreement exhibit is a gas balancing agreement that contains information about ownership and Disposable Production of Gas in kind. Wake North Carolina Exhibit E to Operating Agreement Gas Balancing Agreement — Form 5 is a legal document that is used to outline the specifics of gas balancing within the Wake North Carolina area. This agreement serves as an addendum to the overall Operating Agreement and provides important details regarding gas balancing activities. Gas balancing refers to the equalization of gas supply and usage within a specific geographic area to ensure a reliable and efficient distribution network. It involves the allocation of gas resources between different participants to maintain an equilibrium and avoid imbalances in the system. The Wake North Carolina Exhibit E to Operating Agreement Gas Balancing Agreement — Form 5 is relevant for entities operating in the Wake North Carolina region involved in the transportation, distribution, or supply of natural gas. The document contains various sections that outline the terms and conditions for gas balancing activities in this specific location. Some key elements covered in the Wake North Carolina Exhibit E to Operating Agreement Gas Balancing Agreement — Form 5 may include: 1. Parties Involved: This section identifies the parties involved in the agreement, including the gas suppliers, distributors, and other stakeholders responsible for gas balancing activities in the area. 2. Gas Balancing Procedures: The document outlines the specific procedures and methodologies for conducting gas balancing, including measurement, calculation, and reporting requirements. It may also include provisions for periodic audits and inspections to ensure compliance. 3. Gas Imbalances: This section details the consequences and resolution process for gas imbalances that may occur within the Wake North Carolina area. It may specify penalties, fees, or adjustments that need to be made to address these imbalances. 4. Data Exchange: The agreement may include provisions for the exchange of gas flow, consumption, and inventory data between the involved parties to facilitate effective gas balancing practices. 5. Dispute Resolution: In case of any disputes or disagreements related to gas balancing, this section establishes the mechanisms for resolving such issues, which may involve negotiations, mediation, or arbitration. It is important to note that there may be different variations or updates to the Wake North Carolina Exhibit E to Operating Agreement Gas Balancing Agreement — Form 5, as it can evolve over time to accommodate changing regulations or practices in the gas industry. Any specific modifications or additional versions of this agreement will be denoted by their respective form numbers or dates.

Wake North Carolina Exhibit E to Operating Agreement Gas Balancing Agreement — Form 5 is a legal document that is used to outline the specifics of gas balancing within the Wake North Carolina area. This agreement serves as an addendum to the overall Operating Agreement and provides important details regarding gas balancing activities. Gas balancing refers to the equalization of gas supply and usage within a specific geographic area to ensure a reliable and efficient distribution network. It involves the allocation of gas resources between different participants to maintain an equilibrium and avoid imbalances in the system. The Wake North Carolina Exhibit E to Operating Agreement Gas Balancing Agreement — Form 5 is relevant for entities operating in the Wake North Carolina region involved in the transportation, distribution, or supply of natural gas. The document contains various sections that outline the terms and conditions for gas balancing activities in this specific location. Some key elements covered in the Wake North Carolina Exhibit E to Operating Agreement Gas Balancing Agreement — Form 5 may include: 1. Parties Involved: This section identifies the parties involved in the agreement, including the gas suppliers, distributors, and other stakeholders responsible for gas balancing activities in the area. 2. Gas Balancing Procedures: The document outlines the specific procedures and methodologies for conducting gas balancing, including measurement, calculation, and reporting requirements. It may also include provisions for periodic audits and inspections to ensure compliance. 3. Gas Imbalances: This section details the consequences and resolution process for gas imbalances that may occur within the Wake North Carolina area. It may specify penalties, fees, or adjustments that need to be made to address these imbalances. 4. Data Exchange: The agreement may include provisions for the exchange of gas flow, consumption, and inventory data between the involved parties to facilitate effective gas balancing practices. 5. Dispute Resolution: In case of any disputes or disagreements related to gas balancing, this section establishes the mechanisms for resolving such issues, which may involve negotiations, mediation, or arbitration. It is important to note that there may be different variations or updates to the Wake North Carolina Exhibit E to Operating Agreement Gas Balancing Agreement — Form 5, as it can evolve over time to accommodate changing regulations or practices in the gas industry. Any specific modifications or additional versions of this agreement will be denoted by their respective form numbers or dates.