LARIAT SERVICES, INC. AMARILLO, TX 79116-0209Clayton Williams Energy Inc /De • October 27th, 2005 • Crude petroleum & natural gas
This letter, when executed by Clayton Williams Energy, Inc. (“CWEI”), will constitute a binding agreement between Lariat Services, Inc. (“Lariat”) and Williams to form an entity LARCLAY, LLC (“LARCLAY”) to acquire at least 12 drilling rigs. It is contemplated that the parties will execute further agreements, including Regulations to LARCLAY, an Operating Agreement between LARCLAY and Lariat, which will operate the equipment, and other necessary documents to consummate the transaction.
