Attn: Craig Rasmuson RE: Ensign USD Rig 17 Contract Extension
Exhibit 10.19
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X.X. Xxx 00000
Xxxxxx, XX 00000
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tel
fax
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(000) 000-0000
(000) 000-0000
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xxx.xxxxxxxxxxxx.xxx | |||
July 18, 2013
Synergy resources Corporation
00000 Xxx 00
Xxxxxxxxxxx, XX 00000
Attn:
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Xxxxx Xxxxxxxx
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RE:
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Ensign USD Rig 17
Contract Extension
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Dear Xx. Xxxxxxxx:
This Letter Agreement is intended as an addendum to the Turnkey Drilling Contract between Synergy Resources Corporation (Operator) and Ensign United States Drilling Inc. (Contractor) dated April 19, 2013, which both Operator and Contractor are operating under for Ensign Rig 17. Both parties agree to amend the said contract as follows:
1.
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Contract shall be extended for 21 additional xxxxx for a total of 25 xxxxx.
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2.
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Either Operator or Contractor may request quarterly reviews of rates.
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3.
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The Daywork Rates shall be reduced immediately to the following:
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a.
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$27,000 With Drill Pipe
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b.
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$27,000 Without Drill Pipe
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c.
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$27,000 Standby with crews
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d.
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$24,300 Standby without crews
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4.
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If Contractor procures and utilizes it's own drill pipe, the Daywork Rates shall be reduced to the following:
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a.
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$25,000 With Drill Pipe
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b.
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$25,000 Without Drill Pipe
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c.
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$25,000 Standby with crews
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d.
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$22,500 Standby without crews
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5.
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Should Operator and Contractor agree to contract an ADR™ style rig in place of Rig 17, the remaining xxxxx on the contract shall count toward the term needed for the ADR™ style rig.
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All other terms and conditions of the Turnkey Drilling Contract shall remain in effect.
If you are in agreement with this proposal, please execute and return one copy of this letter to my attention at the referenced address. Should you have any question or desire to discuss further, please call me at 000-000-0000.
AGREED and ACCEPTED this 24th day of July, 2013.
/s/ Xxxxxxx X. Xxxxx Xx.
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/s/ Xxxxxxx Xxxxxx
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Synergy Resources Corporation
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Ensign United States Drilling Inc.
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Print name: | Xxxxxxx X. Xxxxx Xx. | Xxxxxxx Xxxxxx | |||
Title: |
Vice President
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Drilling Manager
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“Performance Excellence - Second to None” | ![]() |