Exhibit 10.122
THE COMPANY HAS REQUESTED AN ORDER FROM THE SECURITIES AND EXCHANGE COMMISSION (THE “COMMISSION”) PURSUANT TO RULE 24B-2 OF THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED, GRANTING CONFIDENTIAL TREATMENT TO SELECTED PORTIONS. ACCORDINGLY, THE CONFIDENTIAL PORTIONS HAVE BEEN OMITTED FROM THIS EXHIBIT, AND HAVE BEEN FILED SEPARATELY WITH THE COMMISSION. OMITTED PORTIONS ARE INDICATED IN THIS EXHIBIT WITH “*****”.
Sunoco Logistics |
| Sunoco Partners Marketing & Terminals LP. |
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| 907 S. Detroit |
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| Tulsa, OK 74120 |
September 11, 2008
Ladder Energy Company
c/o EnMark Services, Inc
Attn: Lee D. Vendig, II
1700 Pacific Avenue, Suite 4500
Dallas, TX 75201
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| Re: | Crude Oil Purchase Agreement |
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| Sunoco Partners Reference No. 502606 |
Dear Mr. Vendig,
Reference is made to the above subject Crude Oil Purchase Agreement whereby Sunoco Partners Marketing & Terminals L. P. will purchase all of the crude oil and condensate, produced from the lease(s) listed on Exhibit A.
This confirms our understanding that by mutual consent said agreement shall be amended as follows:
Effective September 1, 2008, the Price shall be amended to read as follows:
Sunoco’s base price for Oklahoma Sweet crude oil (currently Sunoco’s Column 7), no gravity adjustment, available in Sunoco Partners Marketing & Terminals L. P. Crude Oil Price Bulletin Summary as published, modified by the net adjustment. Buyer and Seller agree that for all leases listed on the attached Exhibit A and any additions thereto during the term of this agreement, the net adjustment will be computed as set forth in Exhibit A. The Temporary Marketing Adjustment (T.M.A.) currently equals *****(1) per barrel.
For pricing purposes, the oil delivered during any given calendar month hereunder shall be deemed to have been delivered in equal daily quantities during such month.
Except as specifically modified, all terms and conditions of said Crude Oil Purchase Agreement shall remain in full force and effect.
Please acknowledge your agreement to this amendment by signing below and mailing or faxing a copy to:
Sunoco Partners Marketing & Terminals L. P. |
Attn: Margaret Bassham |
907 S. Detroit, 8th floor |
Tulsa, OK 74120 |
Fax: (918) 586-6879 |
If we do not receive a signed copy by mail or fax within ten (10) business days from the date of receipt of this amendment, we will take that as evidence of your acceptance of this amendment to the above referenced agreement.
Agreed and accepted this 31st day of October, 2008
LADDER ENERGY COMPANY |
| SUNOCO PARTNERS MARKETING & TERMINALS L.P. | ||||
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| By: |
| Sunoco Logistics Partners Operations GP LLC, Its General Partner | ||
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By: |
| /s/ Patrick M. McKinney |
| By: |
| /s/ James A. Medico |
Title: VP of Operations |
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| James A. Medico | ||
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| Title | Oklahoma Region Manager | |||
(1) THE COMPANY HAS REQUESTED AN ORDER FROM THE SECURITIES AND EXCHANGE COMMISSION (THE “COMMISSION”) PURSUANT TO RULE 24B-2 OF THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED, GRANTING CONFIDENTIAL TREATMENT TO SELECTED PORTIONS. ACCORDINGLY, THE CONFIDENTIAL PORTIONS HAVE BEEN OMITTED FROM THIS EXHIBIT, AND HAVE BEEN FILED SEPARATELY WITH THE COMMISSION. OMITTED PORTIONS ARE INDICATED IN THIS EXHIBIT WITH “*****”.
EXHIBIT A
CRUDE OIL PURCHASE AGREEMENT
LADDER ENERGY COMPANY- COPA #502606
EFF |
| LEASE NAME |
| SUNOCO |
| LEGAL DESC. |
| COUNTY/ST |
| PRICE |
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09/01/00 |
| DOWNEY TANK |
| 036091 |
| SEC 23-26N-05W |
| GRANT/OK |
| COl 7* (+) Platts P+ *****(2) $*****(2) |
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08/01/04 |
| SOWARDS #1 |
| 047366 |
| SEC 25-15n-05e |
| LINCOLN.OK |
| COl 7* (+) Platts P+ *****(2) $*****(2) |
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02/01/00 |
| KIRK #2A-27 |
| 500204 |
| SEC 27-26N-05W |
| GRANT/OK |
| COl 7* (+) Platts P+ *****(2) $*****(2) |
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08/01/04 |
| DAVENPORT UNIT |
| 821017 |
| SEC 03-14N-05E |
| LINCOLN/OK |
| COl 7* (+) Platts P+ *****(2) $*****(2) |
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08/01/04 |
| STATE SCHOOL A1 |
| 884742 |
| SEC 36-15N-05E |
| LINCOLN/OK |
| COl 7* (+) Platts P+ *****(2) $*****(2) |
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08/01/04 |
| STATE SCHOOL 31 |
| 884746 |
| SEC 36-15N-05E |
| LINCOLN/OK |
| COl 7* (+) Platts P+ *****(2) $*****(2) |
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*AS POSTED IN SUNOCO MARKETING AND TERMINALS L.P. PRICE BULLETIN SUMMARY
(2) THE COMPANY HAS REQUESTED AN ORDER FROM THE SECURITIES AND EXCHANGE COMMISSION (THE “COMMISSION”) PURSUANT TO RULE 24B-2 OF THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED, GRANTING CONFIDENTIAL TREATMENT TO SELECTED PORTIONS. ACCORDINGLY, THE CONFIDENTIAL PORTIONS HAVE BEEN OMITTED FROM THIS EXHIBIT, AND HAVE BEEN FILED SEPARATELY WITH THE COMMISSION. OMITTED PORTIONS ARE INDICATED IN THIS EXHIBIT WITH “*****”.