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[[terms:balancing_agreement]]

Balancing Agreement

contractual agreement between legal parties to account for differences between chart measured quantities and the total confirmed quantities at a measuring point such as a plant. They are used to track over/under production relative to entitlements between producers; over/under deliveries relative to measured volumes between operators of wells, pipelines and LDCs.

 
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terms/balancing_agreement.txt · Last modified: 2011/07/26 09:21 (external edit)