CONFIRMATION NO. 1

EX-10.2 3 dex102.htm CONFIRMATION NO. 1 UNDER MASTER CRUDE PURCHASE AGREEMENT Confirmation No. 1 under Master Crude Purchase Agreement

Exhibit 10.2

* THE COMPANY HAS REQUESTED AN ORDER FROM THE SECURITIES AND EXCHANGE COMMISSION (THE “COMMISSION”) PURSUANT TO RULE 24B-2 OF THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED, GRANTING CONFIDENTIAL TREATMENT TO SELECTED PORTIONS. ACCORDINGLY, THE CONFIDENTIAL PORTIONS HAVE BEEN OMITTED FROM THIS EXHIBIT, AND HAVE BEEN FILED SEPARATELY WITH THE COMMISSION. OMITTED PORTIONS ARE INDICATED BY “[REDACTED]”.

CONFIRMATION NO. 1

This Confirmation is attached and made part of that certain Master Crude Purchase Agreement (the “Agreement”) by and among CountryMark Cooperative, LLP, as purchaser (the “Purchaser”), and PennTex Resources Illinois, Inc, PennTex Resources, LP, Rex Energy IV, LLC and Rex Energy I, LLC, as suppliers (each a “Supplier”, and collectively, the “Suppliers”), dated December 30, 2009. This Confirmation relates to the Crude to be sold to Purchaser pursuant to the Agreement by each of the Suppliers. This Confirmation replaces all prior Confirmations between Purchaser and each Supplier pursuant to the Agreement. Any capitalized terms not defined herein shall have the meaning given them in the Agreement.

 

1. Term: This Confirmation shall be for a period of twelve (12) months beginning on January 1, 2010 and ending on December 31, 2010.

 

2. Quantity: An amount equal to actual lease receipts from trucked leases(s) indicated on Exhibit “A” attached hereto and made a part hereof and/or additional leases as designated by Suppliers. Leases can be added or deleted from Exhibit “A” during the term of this Confirmation as agreed by Purchaser and Suppliers.

 

3. Delivery Points(s): Delivery shall take place and title shall pass from each Supplier to Purchaser when the Crude comes under the physical control of Purchaser by passing from the well tankage located on the leases to Purchaser’s designated transportation vehicles.

 

4. Crude Price: For the Crude sold and delivered hereunder, Purchaser agrees to pay a price per barrel, which shall be calculated as follows:

[REDACTED]*

[REDACTED]*

 

5. Payment Account: Purchaser shall make all payments pursuant to this Confirmation to each of the Suppliers by wire transfer to the following accounts:

 

Rex Energy I, LLC    PennTex Resources Illinois, Inc.   
Bank: M&T Bank    Bank: M&T Bank   
ABA: 022000046    ABA: 022000046   
Acct: [REDACTED]*    Acct: [REDACTED]*   
Rex Energy IV, LLC    PennTex Resources, LP   
Bank: Key Bank    Bank: M&T Bank   
ABA: 041001039    ABA: 022000046   
Acct: [REDACTED]*    Acct: [REDACTED]*   

 

1

SUPPLIERS:     PURCHASER:
PENNTEX RESOURCES ILLINOIS, INC.     COUNTRYMARK COOPERATIVE, LLP
By:   /s/ Benjamin W. Hulburt     By:   /s/ J.A. Sudholt
Name:   Benjamin W. Hulburt     Name:   J.A. Sudholt
Title:   President and Chief Executive Officer     Title:   Vice President
PENNTEX RESOURCES, LP      
By:   Penn Tex Energy, Inc., its general partner      
By:   /s/ Benjamin W. Hulburt      
Name:   Benjamin W. Hulburt      
Title:   President and Chief Executive Officer      
REX ENERGY IV, LLC      
By:   /s/ Benjamin W. Hulburt      
Name:   Benjamin W. Hulburt      
Title:   President and Chief Executive Officer      
REX ENERGY I, LLC      
By:   /s/ Benjamin W. Hulburt      
Name:   Benjamin W. Hulburt      
Title:   President and Chief Executive Officer      

 

2

Exhibit A

 

Adamson Comm., L. K. Lease   Cooper George Lease   Gillespie Laura Lease
Airport-Akin Unit Lease   Cooper “A” Lease   Gillespie T. P. Lease
Alldredge, Samuel Lease   Cooper a/c 1 S. N. Lease   Gillespie a/c 1 R. T. Lease
Allyn, Olive Lease   Cooper C Lease   Gillespie, Sherman Lease
Allyn, Winfred Lease   Cooper S.N. ASP Lease   Gillespie-Fee Walter Lease
Anderson, Nancy Lease   Cooper TA Lease   Gould A. L. Lease
Applegate A. R. Lease   Cooper TC Lease   Gould H. H. Lease
Applegate E. C. Lease   Cooper-Eshelman Unit Lease   Gould R. Lease
Applegate Wm. Lease   Cooper-King Lease   Gould W. A. Lease
Applegate Tr. A. R. Lease   Crackle ‘A’ W. R. Lease   Gould a/c 2 J. J. Lease
Applegate Unit Lease   Crackle a/c 1 W. R. Lease   Gould a/c 2 T. I. Lease
Applegate-Gray Unit Lease   Crawford Vern Non Unit Lease   Grabert Comm Lease
Ashland-Spencer Unit Lease   Critchfield-Gosnell Lease   Grafton Unit Lease
Ashworth, T & J Lease   Critchfield-Heikes Lease   Gray Jos. Lease
Ashworth/Buchard Lease   Crump Wm. Lease   Gray Sherman Lease
Baker, J.S. Lease   Crump-McCleave Unit Lease   Gray a/c 2 George Lease
Baltzell-Kimmel-Jacob Lease   Crumpton Culley-State Lease   Gray, Scott Lease
Beck, Art Lease   Culley-Allyn Unit Lease   Gray-Vandermark Unit Lease
Bennett Unit #2 Lease   Cullison, CB Lease   Griesemer Gary Lease
Bennett Unit Lease   Cummins Lease   Griffin Unit Lease
Benthall, Fred Lease   Dalrymple E.F. Lease   Griggs a/c 1 J. T. Lease
Benton, Herbert Lease   Delaney Unit Lease   Griggs a/c 1 J.T. ASP Lease
Benton, Russell Lease   Diver John Lease   Griggs a/c 3 J. T. Lease
Berkshire C. S. Lease   Drake-Anderson Lease   Gross Comm #2 Lease
Bippus, Mansfield Lease   Droll-Madding Lease   Gyger, Bessie Lease
Black et al Irene Lease   Dunn Unit Lease   Hancock, Vernon Lease
Bolles a/c 2 J. W. Lease   East Landfill Unit Lease   Hardacre a/c 1 Lease
Bolles Ridgley Lease   East Mt. Vernon Lease   Hardacre a/c 2 Lease
Booe S. Lease   Elnora Central Field Lease   Hardacre HA Lease
Bosstick Etal CU 1 Lease   Eshelman Effie Lease   Hartman Lease
Bostic, Ed Lease   Eshelman F. P. Lease   Hayward, Ruth Lease
Bowen C. C. Lease   Eshelman S. M. Lease   Hazel a/c 1 S. E. Lease
Bower J. D. Lease   Eshelman S.M. ASP Lease   Higbee, Elzora Lease
Boyd-Baltzell Unit Lease   Fenton Estate Lease   Hodge, Albert #1-B Lease
Broadhead, Walter Lease   Fenton-Turner-Altekruse Lease   Hodge, Joe Lease
Buchanan L. A. Lease   Fillmore Unit Lease   Hurley-Denbo Comm. Lease
Buchanan R. O. Lease   Finley P. B. Lease   Hux Vernon E. H-5 Lease
Busiek-Crawford Lease   Finley W. E. Lease   Jacobs, Roy Lease
Clark Grant Lease   Finley, F & P Lease   Jenner a/c 1 L. J. Lease
Combs T. & C. Lease   Fyffe C. H. Lease   Johnson J. E. Lease
Combs Lease   Gee a/c 1 S. J. Lease   Johnson A & O Lease
Combs-Pinhook Unit Lease   Gee-Gould Unit Lease   Judy J. F. Lease
Conrad et al H. E. Lease   Gempler Lease   Junker Schreiber Lease

Kerr Tr. J. B. Lease   McGrayel M. Lease   Schwarm S.W.& A.E.Lease
Kerwin Lease   McKelfresh a/c 1 F E Lease   Searcy Comm. Lease
Kimmel a/c 1 J. L. Lease   McKelfresh a/c 2 F. E. Lease   Searcy, Paul Lease
Kimmel Unit Lease   McNeece, George Lease   Seed a/c 1 C. E. Lease
King a/c 1 J. R. Lease   McPherson Lease   Seed a/c 1 Clay Lease
King a/c 1 & 2 P. Lease   Middagh J. R. Lease   Seed a/c 2 Wm. Lease
King a/c 3 Perry Lease   Middagh Robert Lease   Seed Community Lease
King Unit Lease   Middagh a/c 1, J. P. Lease   Seed, E.J. Lease
Kirkwood, Leonora Lease   Middagh J.P. Lease   Skiles W. L. Lease
Kirkwood, R.M. Lease   Mieure, John Lease   Skiles Unit Lease
Kistler John Lease   Miller G. L. Lease   Sluder D. Lease
Kistler Unit Lease   Millspaugh, E. Lease   Smail William Lease
Kleiderer Lease   Millspaugh, F. (Holler) Lease   Smith Oscar Lease
Klingler J. H. Lease   Moore Phillip Lease   Smith, Palmer Lease
Klingler J.F. Lease   Neal W.E. Lease   Somervill Field WF Lease
Kron-Ashworth C Lease   Newell Unit Lease   Schwarm S.W.& A.E.Lease
Kron-Ashworth Unit Lease   O’Donnell Lease   Searcy Comm. Lease
Lab Pooled Unit Lease   Paddock Lease   Searcy, Paul Lease
Laduke-Saltzman #1 Lease   Peters H. F. Lease   Seed a/c 1 C. E. Lease
Lanterman Park Lease   Peters Lease   Seed a/c 1 Clay Lease
Lathrop Unit Lease   Petty Josie Lease   Seed a/c 2 Wm. Lease
Lawrence Co. Inf. ASP   Pleasant Hill Unit Lease   Seed Community Lease
Lawrence County Infirmary Lease   Pocket Gray Lease   Seed, E.J. Lease
Leasure, Lola Lease   Pocket Realty Lease   Skiles W. L. Lease
Legg, Larry Lease   Porter, Mary Lease   Skiles Unit Lease
Legg, Leonard Lease   Ridgley a/c 2 M. E. Lease   Sluder D. Lease
Leighty a/c 1 L. K. (100) Lease   Ridgley Lease   Smail William Lease
Leighty a/c 1 L. K. (80) Lease   Robins a/c 1 W. E. 102B Lease   Smith Oscar Lease
Leighty, George Lease   Robins a/c 1 W. E. 202B Lease   Smith, Palmer Lease
Lewis C. L. Lease   Robins a/c 1 W.E. Lease   Somervill Field WF Lease
Lewis J. B. Lease   Robins a/c 2 W. E. Lease   Spencer, J.W. Lease
Lewis a/c 1 Jas. Lease   Robins W.E. A/C 1 ASP   Stoltz Heirs Lease
Lewis a/c 1 James ASP Lease   Robins-Leighty Unit Lease   Strain A J ET
Lewis, Jas. A/C 2 Lease   Ross Hrs. Wm. Lease   Strain Comm Lease
Lewis-Gillespie Unit Lease   Rowe Lease   Strain Fenton Lease
Loehr, Harold Lease   Rush, C. M. Lease   Strain Hayworth H-2 Lease
Mackey West Unit Lease   Ryan a/c 1 & 2 G. L. Lease   Strain-Paddock H-4 Lease
Mackey West Unit/Haley Lease   Ryan a/c 3 G. L. Lease   Stuck, Tom Lease
Madding J. D. Lease   Saint Matthew Church Lease   Sutton Unit A Lease
Marts Community Lease   Saltzman Lease   Sutton Unit Lease
Marts Lease   Schneider, Phillip Lease   Swail John Lease
Marts-Bosstick Lease   Schultz Comm. Lease   Swarm Jeremiah Lease
Marts-Richey Lease   Schultz, Irene & Kate Lease   Thompson State Lease
Marts-Sluder #1-20 Lease   Schutz, Eugene Lease   Thorn Heirs Lease
McFadden, Paul Lease   Schwarm A. E. et al Lease   Thorn, C. Lease

Thorn, HD Lease    
Umfleet Wm. Lease    
Umfleet-McGrayel Lease    
Vanderhoof, Dee Lease    
Vandermark A. Lease    
Vandermark L. A. Lease    
Vandermark Heirs Lease    
Vandermark, Earl Lease    
Verwayne #2 Lease    
Vollmer, A. Lease    
Vollmer, Eddie Lease    
Wade-Spencer Lease    
Walker, Elmo 1B Lease    
Waltersburg/Rapture South Lease    
West Kenner Unit Lease    
Westall a/c 1 W. Lease    
Westall, A. Lease    
Wheaton, T. Lease    
Willey E. Lease    
Williams C. T. Lease    
Williams R. S. Lease    
Wilson Josephine Lease    
Wilson, Ethel Lease    
Wolfe, Irvin Lease    
Wood Mary A. Lease    
Wright Minnie Lease