STEPHENS ENERGY CORP. - The Railroad Commission of Texas

-
GPA No. LP-13-7281
&MENDMEKT AND SUPPLEMENT TO GAS PURCHASE AGREEMENT
THlS AGREEMENT, madc ulrl entered i..L3 to be effective ar of the I s day of
Lkcmbcr. 2002, by and behween :-. !NC.. hcrcioaftcr &rd lo as
'Sells', and DNON GAS SERVICES. L. Y, henmamr Rfd to as "Buyer',
WITNESSETH THAT:
WHEREAS, Buyer and Seller entered into a Gas Purchase Agreement datcd
January 1. 2001, dating to he sale and purcbasc of gar Gom Sellds lands and leases
located in Palo Pinto County, Texas; and
WHEREAS. Buyer and Selkr now desk to amend and supplement the Gas
Purchase Agrccmcntto dele and replace ARTICLE 3, entitled PRICE of above refucnctd
Gas Purchase Agreement;
NOW, TIEREFORE. in wnsidcration of the premises and of the mutual
ilgrecmeots hcrein contnincd md other good and valunble comidmtion, Seller md Buycr
hacby covenant and agrce as follows:
Seller and Buyer agrce that ARnCLE 3, entitled PRICE of thc Gas Purchase
.%ycrmenl shll b clelad wd rrplucd in ik entirety by tlu rollowi~~g.
ARTICLE 3
PRICE
3.1 Subject to all otha applicable provisions of this Contract, ~encinp wilh
delivaia of Gas incident to this Agrermentd continuing for the term of this Agrcunenl,
Buys agrees to pay and Seller agrees to accept as full consideration for the Gas and all
compomnls IbcmrpldwaJ by Buycrhuamder during eachMooth, a price pa MMBtu.
equal to eighty-one pacent (R1%) multiplid times the Houston Ship Channel Index Pria
(HSCI) l a twentyoncanw(S.21). [8I%(HSCI -S.21)] calculatadonaa~edbasis and
inclusive of thc rcimbunaoent of one hundred percart (1 of state severance and Like
taxes. The HSCI is listed under the schedule entided Mmkc~ Center *-Gar Prica (per
MMBhr) t~ppcaring in the rust edition of ah month's INSIDE F.ER.C 's GAS MARKET
REPORT. In thc event that thc HSCl cases lo be published. Buyer and Sellashall negotiate
an alternative price within thirty (30) days acr such cessation to be effeclive upon the
cessation of publication of said HSCI.