Exhibit 10.121
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.
|
|
|
|
907 S. Detroit
|
|
|
|
Tulsa,OK 74120
|
|
|
|
|
|
September 26, 2006
|
|
|
|
|
|
|
|
Ladder Energy Company
|
|
|
|
Attn: Jim McCaghren
|
|
|
|
801 Cherry Street, Ste.
3200
|
|
|
|
Fort Worth, Texas
76102-6882
|
|
|
|
|
|
|
|
|
|
Re:
|
Crude Oil Purchase
Agreement
|
|
|
|
|
Sunoco Partners Reference No.
502606
|
Dear Mr. McCaghren,
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 November 1, 2006,
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.
Effective December 1, 2006,
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.
Effective December 1, 2006,
the Term shall be amended to read as follows:
This agreement shall remain in
effect for an extended term of one (1) year commencing on
December 1, 2006, and from month to month thereafter, unless
and until terminated by either party upon written notice thereof
given thirty (30) days in advance of the end of the primary term of
this agreement or any extensions thereof.
Except as specifically modified, all
terms and conditions of said Crude Oil Purchase Agreement shall
remain in full force and effect.
(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 “*****”.
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.
|