Exhibit 10.27
[First Amendment to Credit Agreement]
NationsBank
Energy Banking Group
X.X. Xxx 000000
Xxxxxx, XX 00000-0000
Tel 000 000-0000
December 22, 0000
Xx. Xxxx Xxxx & Exploration Company
Xx. Xxxxx X. Xxxxx, Chief Financial Officer
0000 Xxxxxxx Xxxxxx, 00xx Xxxxx
Xxxxxx, Xxxxxxxx, 00000
RE: Credit Agreement dated June 30, 1998 between St. Xxxx Xxxx & Exploration
Company and NationsBank, N.A., as Agent, and Lenders.
Dear Xxxxx:
Pursuant to Section 7.5 Limitation on Sales of Property, Lenders hereby consent
to Borrower's sale of certain oil and gas properties located in Oklahoma.
Additionally, upon the sale of such properties, the Aggregate Borrowing Base is
reduced to $105,000,000 until the next Determination Date. For purposes of this
reduction, the effective date of ther revised Aggregate Borrowing Base is
December 21, 1998.
Xxxxx, please feel free to call me if you have any questions or if I can be of
additional assistance.
Sincerely,
Xxxxx X. Xxxxxxxxx
Senior Vice President
Cc: Xxx Xxxxxxxxx
Xxxx Xxxxxxxx
