Waiver of Direct G&A Costs Under Construction, Operations, and Maintenance Agreement between Apache Corporation and Altus Midstream Company
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Summary
Apache Corporation has agreed to temporarily waive its right to charge Altus Midstream Company for certain or all direct general and administrative (G&A) costs under their existing Construction, Operations, and Maintenance Agreement. This waiver is effective from April 1, 2019, and will remain in place until Apache decides to revoke it. The waiver only applies to direct G&A costs and does not alter any other terms of the original agreement.
EX-10.1 2 comasidelettergawaiver.htm EXHIBIT 10.1 Exhibit
April 23, 2019
Altus Midstream Company
2000 Post Oak Boulevard, Suite 100
Houston, Texas 77056-4400
Attention: Clay Bretches
Re: | Waiver of Direct G&A Costs Under the Construction, Operations, and Maintenance Agreement |
Reference is hereby made to the Construction, Operations and Maintenance Agreement entered into on November 9, 2018 by and between Apache Corporation, as Service Provider, and Altus Midstream Company, as Owner (the “COMA”). Capitalized terms used but not defined herein shall have the meaning ascribed to such terms under the COMA.
For the period beginning on April 1, 2019 until revoked at such time as Service Provider determines in its sole discretion, Service Provider hereby waives its right to charge and collect from Owner, either in whole or in part, certain or all of the Direct G&A Costs incurred for such period for services provided under the COMA. Such waiver is not and shall not constitute a waiver of, or consent to a change in, any other provision of the COMA.
Apache Corporation
By: /s/ Stephen J. Riney | ||
Name: Stephen J. Riney | ||
Title: Executive Vice President and Chief Financial Officer | ||
