FOURTH AMENDMENT TO CONTRACT

EX-10.2 3 a14-26013_1ex10d2.htm EX-10.2

Exhibit 10.2

 

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 Industrial Services, Inc., hereinafter referred to as “STIS”.

 

WITNESSETH:

 

WHEREAS, H&P and STIS entered into a Contract dated the 18th day of July, 2007, for certain services defined therein as the “Work” (the “Contract”);

 

WHEREAS, H&P and STIS amended the Contract on August 8, 2008;

 

WHEREAS, H&P and STIS further amended the Contract on March 26, 2010;

 

WHEREAS, H&P and STIS 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.                                      Beginning in line 11 of Annex 1, Sections (a) through (f) immediately following “(the “Work”)” are hereby deleted and replaced with the following:

 

Quantity — STIS 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.”

 



 

Except as amended hereby, all other terms and conditions of the Contract shall remain in full force and effect.

 

IN WITNESS WHEREOF, H&P and STIS have executed this Fourth Amendment to Contract as of the day and year first written above.

 

 

HELMERICH & PAYNE INTERNATIONAL DRILLING CO.

 

 

 

 

 

By:

/s/ Steven R. Mackey

 

 

Steven R. Mackey

 

 

Executive Vice President

 

 

 

 

 

SOUTHEAST TEXAS INDUSTRIAL SERVICES, INC.

 

 

 

 

 

By:

/s/ Marcus Sammons

 

Name:

Marcus Sammons

 

Title:

President

 


Basic Info X:

Name: FOURTH AMENDMENT TO CONTRACT
Type: Fourth Amendment to Contract
Date: Feb. 6, 2015
Company: Helmerich & Payne, Inc.
State: Delaware

Other info: