FOURTH AMENDMENT TO CONTRACT
THIS FOURTH AMENDMENT TO CONTRACT is made and entered into this 11th day of January, 2013, by and between Helmerich & Payne International Drilling Co., hereinafter referred to as H&P, and Southeast Texas Industries, Inc., hereinafter referred to as Fabricator or STI.
WHEREAS, H&P and STI entered into a Fabrication Contract dated the 1st day of December, 2006, for certain services defined therein as the Work (the Contract);
WHEREAS, H&P and STI amended the Contract on August 8, 2008;
WHEREAS, H&P and STI further amended the Contract on March 26, 2010;
WHEREAS, H&P and STI further amended the Contract on August 4, 2011;
WHEREAS, the parties hereto are mutually desirous of further amending the terms of the above-referenced Contract as hereafter set forth; and
WHEREAS, the Contract has continued in full force and effect to the present time.
NOW, THEREFORE, in consideration of the rights and obligations passing between the parties, the parties hereto do amend said Contract, as follows, to-wit:
1. Section 1 of Annex 1 is hereby deleted and replaced with the following:
1. Quantity STI will perform the Work for a total of 36 rigs with the number and type of rigs as follows:
a. Flex3: 10 rigs (R604, R605, R606, R607, R608, R609, R610, R611, R612, R613)
b. Flex4S: 0 rigs
c. Flex4S+: 0 rigs
d. Flex4C: 3 rigs (R361, R362, R363)
e. Flex 4M: 0 rigs
f. Flex5: 6 rigs (R514, R515, R516, R517, R518, R520)
g. The remaining 17 rigs will be a combination of the various types listed above as determined by H&P.