AMENDMENT TO PURCHASE AND SALE AGREEMENT

Contract Categories: Business Finance - Purchase Agreements
EX-10.1 2 a5601737ex10-1.htm EXHIBIT 10.1

Exhibit 10.1

AMENDMENT TO PURCHASE AND SALE AGREEMENT

THIS AMENDMENT TO PURCHASE AND SALE AGREEMENT (the "Amendment") is made as of the 31st day of January, 2008, by and between APACHE CORPORATION, a Delaware corporation (hereinafter referred to as "Seller") and VANGUARD PERMIAN, LLC, a Delaware limited liability company (hereinafter referred to as "Purchaser").

WHEREAS Seller and Purchaser entered into a certain Purchase and Sale Agreement dated as of the 21st day of December, 2007 (the "PSA"), and

WHEREAS Seller and Purchaser wish to amend said PSA as set out herein;

NOW THEREFORE, in consideration of the premises hereto and the covenants and agreements hereinafter set forth and contained, the parties hereto covenant and agree as follows:

1. The PSA is hereby amended effective as of the time the PSA was executed and delivered by deleting Schedules "A", "B", "C" and "D" attached thereto and substituting in their place, each of the new Schedules. Schedules "A", "B", "C" and "D" attached hereto.

2. Seller and Purchaser hereby ratify and confirm the PSA which shall continue in full force and effect in accordance with its terms, unamended, except as specifically set out herein.

3. All capitalized terms which are not defined herein shall have the meaning ascribed in the PSA.

This Amendment shall, in all respects, be subject to, interpreted, construed and enforced in accordance with and under the laws of the State of Texas and shall, in all respects, be treated as a contract made in the State of Texas

IN WITNESS WHEREOF, the parties hereto have executed this Amendment as of the date first above written.

SELLER:

APACHE CORPORATION

By: /s/ John J. Christmann

John J. Christmann, IV

Vice President

PURCHASER

VANGUARD PERMIAN, LLC

By: Vanguard Natural Gas, LLC

Its Sole Member

By: Vanguard Natural Resources, LLC

Its Sole Member

By: /s/ Scott W. Smith

Scott W. Smith

President and Chief Executive Officer


SCHEDULE "A"

To Amendment to Purchase and Sale Agreement
Dated January 31, 2008
Between APACHE CORPORATION, as Seller
and VANGUARD PERMIAN, LLC, as Purchaser

LEASES

Lea County, NM
Lease No. Prospect Field Lessor Lessee Date of Lease Book Page Description
125151 Hobbs Various (NM5307) Lovington State of New Mexico B-7896 Skelly Oil Company 12/10/38     T16S, R37E, NMPM
Sec. 31: NE1/4, SE1/4NW1/4, Lot 3 (49.56), Lot 4 (49.99) & SE1/4
8000332 Hobbs Various (NM5307) Hobbs State of New Mexico A-1469 Amerada Petroleum Corporation 12/18/28     T18S, R38E, NMPM
Sec. 29: W1/2NE1/4 & E1/2NW1/4
Sec. 32: N1/2NE1/4
8000484 Lovington Penn NE (NM5315) Lovington State of New Mexico B-1429 Amerada Petroleum Corporation 12/5/32     T17S, R36E, NMPM
Sec. 12: E1/2SE1/4, S1/2NW1/4, SE1/4NE1/4
8000486A Lovington Penn NE (NM5315) Lovington State of New Mexico B-3009 Socony Mobil Oil Company 6/11/34     T17S, R36E, NMPM
Sec. 2: SE1/4SE1/4
8000485 Lovington Penn NE (NM5315) Lovington State of New Mexico B-2359 Amerada Petroleum Corporation 1/23/34     T17S, R36E, NMPM
Sec. 1: NE1/4 & SW1/4
120293A Misc New Mexico (NM5318) Lovington R.H. Woods, et ux J.D. Hunter 6/1/48 72 192 T17S, R36E, NMPM
Sec. 20: SW1/4 & S1/2SE1/4
120293AA Misc New Mexico (NM5318) Lovington H.T. Montieth, et ux George A. Moberly 6/1/48 72 204 T17S, R36E, NMPM
Sec. 20: SW1/4 & S1/2SE1/4
120293B Misc New Mexico (NM5318) Lovington J.D. Garrett, et ux J.D. Hunter 2/23/51 91 513 T17S, R36E, NMPM
Sec. 20: SW1/4 & S1/2SE1/4
120293D Misc New Mexico (NM5318) Lovington Van Grisso Oil Company, et al Fred J. Hill 2/4/49 77 351 T17S, R36E, NMPM
Sec. 20: SW1/4 & S1/2SE1/4
120293E Misc New Mexico (NM5318) Lovington J.R. McGinley, et ux Tide Water Associated Oil Co. 5/10/49 78 493 T17S, R36E, NMPM
Sec. 20: SW1/4
120293K Misc New Mexico (NM5318) Lovington R.W. Viersen, et ux Tide Water Associated Oil Co. 1/15/52 98 17 T17S, R36E, NMPM
Sec. 20: SW1/4 & S1/2SE1/4

SCHEDULE A
Page 1 of 8


SCHEDULE "A"

To Amendment to Purchase and Sale Agreement
Dated January 31, 2008
Between APACHE CORPORATION, as Seller
and VANGUARD PERMIAN, LLC, as Purchaser

LEASES

Lea County, NM
Lease No. Prospect Field Lessor Lessee Date of Lease Book Page Description
120293L Misc New Mexico (NM5318) Lovington Kirke C. Veeder, et ux Tide Water Associated Oil Co. 1/15/52 98 224 T17S, R36E, NMPM
Sec. 20: SW1/4 & S1/2SE1/4
120293M Misc New Mexico (NM5318) Lovington Dilworth S. Hager, et ux Tide Water Associated Oil Co. 1/17/52 98 15 T17S, R36E, NMPM
Sec. 20: SW1/4 & S1/2SE1/4
120293N Misc New Mexico (NM5318) Lovington JEB Oil Company Tide Water Associated Oil Co. 3/5/52 100 463 T17S, R36E, NMPM
Sec. 20: SW1/4 & S1/2SE1/4
120293O Misc New Mexico (NM5318) Lovington T. Miller Davidge Texaco, Inc. 1/9/86 397 71 T17S, R36E, NMPM
Sec. 20: S1/2SE1/4
120293P Misc New Mexico (NM5318) Lovington J.S. Noland, et ux J.D. Hunter 2/23/51 91 519 T17S, R36E, NMPM
Sec. 20: SW1/4 & S1/2SE1/4
120293Q Misc New Mexico (NM5318) Lovington A.P. Loskamp, et ux J.D. Hunter 6/1/48 72 196 T17S, R36E, NMPM
Sec. 20: SW1/4 & S1/2SE1/4
120293R Misc New Mexico (NM5318) Lovington J.H. Beegle, et ux J.D. Hunter 8/16/48 73 268 T17S, R36E, NMPM
Sec. 20: SW1/4 & S1/2SE1/4
120293S Misc New Mexico (NM5318) Lovington G.A. Schwab, et ux J.D. Hunter 6/1/48 72 198 T17S, R36E, NMPM
Sec. 20: SW1/4 & S1/2SE1/4
120293T Misc New Mexico (NM5318) Lovington F.J. Danglade J.D. Hunter 6/1/48 72 194 T17S, R36E, NMPM
Sec. 20: SW1/4
120293U Misc New Mexico (NM5318) Lovington J.D. Lumpkin, et al J.D. Hunter 6/10/48 72 206 T17S, R36E, NMPM
Sec. 20: SW1/4 & S1/2SE1/4
120293V Misc New Mexico (NM5318) Lovington R.G. Anderson, et ux J.D. Hunter 7/15/48 72 190 T17S, R36E, NMPM
Sec. 20: SW1/4 & S1/2SE1/4
120293W Misc New Mexico (NM5318) Lovington C.O. Drew, et ux J.D. Hunter 8/16/48 73 258 T17S, R36E, NMPM
Sec. 20: SW1/4 & S1/2SE1/4
120293Y Misc New Mexico (NM5318) Lovington The Homestake Royalty Corporation J.D. Hunter 8/16/48 73 270 T17S, R36E, NMPM
Sec. 20: SW1/4 & S1/2SE1/4

SCHEDULE A
Page 2 of 8


SCHEDULE "A"

To Amendment to Purchase and Sale Agreement
Dated January 31, 2008
Between APACHE CORPORATION, as Seller
and VANGUARD PERMIAN, LLC, as Purchaser

LEASES

Lea County, NM
Lease No. Prospect Field Lessor Lessee Date of Lease Book Page Description
  Misc New Mexico (NM5318) Lovington PG & E Resources Company P & P Producing, Inc. 8/1/94 519 433 T16S, R38E, NMPM
Sec. 31: S1/2SW1/4
8000325 Garrett (NM5521) Garrett W State of New Mexico L-1053 George Moberly 7/16/68     T16S, R38E, NMPM
Sec. 31: S1/2NE1/4 & SE1/4
97834A Lovington Strawn (NM5530) Lovington H.R. Stasney & Sons LTD Apache Corporation 8/7/01 1109 454 T16S, R37E, NMPM
Sec. 9: SW1/4
97834B Lovington Strawn (NM5530) Lovington Mack H. Wooldridge, et ux Apache Corporation 8/1/01 1109 457 T16S, R37E, NMPM
Sec. 9: SW/14
8000983A Lovington Strawn (NM5530) Lovington Connie Dell Wren Collins & Ware, Inc. 8/21/98 908 556 T16S, R37E, NMPM
Sec. 2: Lots 11, 12, 13 & 14 and S1/2
8000983B Lovington Strawn (NM5530) Lovington Brookie Lee Green Collins & Ware, Inc. 8/21/98 908 566 T16S, R37E, NMPM
Sec. 2: Lots 11, 12, 13 & 14 and S1/2
8000983C Lovington Strawn (NM5530) Lovington John Richard Anderson Collins & Ware, Inc. 8/21/98 908 563 T16S, R37E, NMPM
Sec. 2: Lots 11, 12, 13 & 14 and S1/2
8000983D Lovington Strawn (NM5530) Lovington Kimberley Schaffer Harris Collins & Ware, Inc. 8/21/98 906 534 T16S, R37E, NMPM
Sec. 2: Lots 11, 12, 13 & 14 and S1/2
8000983E Lovington Strawn (NM5530) Lovington Milton Wayne Anderson Collins & Ware, Inc. 8/21/98 906 531 T16S, R37E, NMPM
Sec. 2: Lots 11, 12, 13 & 14 and S1/2
8000983F Lovington Strawn (NM5530) Lovington Tamara Schaffer Maxie Collins & Ware, Inc. 8/21/98 906 528 T16S, R37E, NMPM
Sec. 2: Lots 11, 12, 13 & 14 and S1/2
8000983G Lovington Strawn (NM5530) Lovington Ruby Naoma Anderson, et al Collins & Ware, Inc. 8/28/98 913 179 T16S, R37E, NMPM
Sec. 2: Lots 11, 12, 13 & 14 and S1/2
8000983H Lovington Strawn (NM5530) Lovington Malcolm S. Anderson Collins & Ware, Inc. 8/21/98 904 313 T16S, R37E, NMPM
Sec. 2: Lots 11, 12, 13 & 14 And S1/2

SCHEDULE A
Page 3 of 8


SCHEDULE "A"

To Amendment to Purchase and Sale Agreement
Dated January 31, 2008
Between APACHE CORPORATION, as Seller
and VANGUARD PERMIAN, LLC, as Purchaser

LEASES

Lea County, NM
Lease No. Prospect Field Lessor Lessee Date of Lease Book Page Description
8000785 Lovington Strawn (NM5530) Lovington State of New Mexico V-339 Amerada Hess Corporation 6/1/81 346 954 T16S, R37E, NMPM
Sec. 9: N1/2
Crockett County, TX
Lease No. Prospect Lessor Lessee Date of Lease Book Page
3021296A TX4103 Southland Royalty Company Stanolind Oil and Gas Corporation 10/15/36 64 349
Gaines County, TX
Lease No. Prospect Lessor Lessee Date of Lease Book Page
8000708A TX4062 The Home-Stake Royalty Corporation Carl O'Hornett 4/27/42 31 501
8000708B TX4062 Atlantic Oil Corporation Carl O'Hornett 4/27/42 31 503
8000708C TX4062 The Home-Stake Oil & Gas Company Carl O'Hornett 4/27/42 31 498

SCHEDULE A
Page 4 of 8


SCHEDULE "A"

To Amendment to Purchase and Sale Agreement
Dated January 31, 2008
Between APACHE CORPORATION, as Seller
and VANGUARD PERMIAN, LLC, as Purchaser

LEASES

Gaines County, TX
Lease No. Prospect Lessor Lessee Date of Lease Book Page
8000708D TX4062 Pilot Royalty Company Carl O'Hornett 4/27/42 31 496
8000708E TX4062 C.P. Quinlan, et ux Carl O'Hornett 4/27/42 31 493
8000708F TX4062 Walter D. Smith, et ux Carl O'Hornett 4/27/42 31 490
8000708G TX4062 James A. Lupfer, et ux Carl O'Hornett 4/27/42 31 511
8000708H TX4062 Chester Imes, et ux Carl O'Hornett 4/27/42 31 508
8000708I TX4062 Industrial Investment Corporation Carl O'Hornett 5/16/42 33 114
8000708J TX4062 Robert S. May, et ux Carl O'Hornett 5/1/42 32 537
8000708K TX4062 O.W. Harrison, et ux Carl O'Hornett 4/27/42 31 506
3798896 TX4062 M.S. Doss, et ux Pan American Petroleum Company 7/27/59 125 288
3798921A TX4062 John B. Robertson, et al E.W. Anguish 1/26/42 30 335

SCHEDULE A
Page 5 of 8


SCHEDULE "A"

To Amendment to Purchase and Sale Agreement
Dated January 31, 2008
Between APACHE CORPORATION, as Seller
and VANGUARD PERMIAN, LLC, as Purchaser

LEASES

Irion County, TX
Lease No. Prospect Lessor Lessee Date of Lease Book Page
57357 TX5516 Texas Scottish Rite Hospital for Crippled Children Apache Corporation 2/1/03 149 426
132199 TX5516 Texas Scottish Rite Hospital for Crippled Children Collins & Ware, Inc. 8/1/95 112 196
8000993 TX5516 Texas Scottish Rite Hospital for Crippled Children Collins & Ware, Inc. 8/1/95 112 196
Reagan County, TX
Lease No. Prospect Lessor Lessee Date of Lease Book Page
132199 TX5516 Texas Scottish Rite Hospital for Crippled Children Collins & Ware, Inc. 8/1/95 304 141
57551 TX5516 Texas Scottish Rite Hospital for Crippled Children Apache Corporation 5/1/05 66 832
8000993 TX5516 Texas Scottish Rite Hospital for Crippled Children Collin & Ware, Inc. 8/1/95 304 141
97835 TX5516 Texas Scottish Rite Hospital for Crippled Children Apache Corporation 3/1/02 41 479

SCHEDULE A
Page 6 of 8


SCHEDULE "A"

To Amendment to Purchase and Sale Agreement
Dated January 31, 2008
Between APACHE CORPORATION, as Seller
and VANGUARD PERMIAN, LLC, as Purchaser

LEASES

Schleicher County, TX
Lease No. Prospect Lessor Lessee Date of Lease Book Page
3075775 TX4021 Louise V. Anson, et al Kenneth W. Brown 8/14/46 249 549
3199537 TX4021 Panhandle & Santa Fe Railway Co. Pan American Petroleum Corporation 7/26/60 419 490
Tom Green County, TX
Lease No. Prospect Lessor Lessee Date of Lease Book Page
3059138A TX4021 Emmett Jacobs, et al W.M. Holland, et al 6/15/34 179 32
3059927 TX4021 Ruth H. Gordon, et al Kenneth W. Brown 7/26/44 231 29
3075775 TX4021 Louise V. Anson, et al Kenneth W. Brown 8/14/46 249 549
3109383A TX4021 Panhandle & Santa Fe Railroad Co. Amoco Production Company 5/28/54 349 151
3199537 TX4021 Panhandle & Santa Fe Railroad Co. Pan American Petroleum Corporation 7/26/60 93 397
3248482 TX4021 Christoval Oil Company Pan American Oil Company 10/1/64 469 124

SCHEDULE A
Page 7 of 8


SCHEDULE "A"

To Amendment to Purchase and Sale Agreement
Dated January 31, 2008
Between APACHE CORPORATION, as Seller
and VANGUARD PERMIAN, LLC, as Purchaser

LEASES

Upton County, TX
Lease No. Prospect Lessor Lessee Date of Lease Book Page
120773 TX5337 Jno F. Lane, et ux The Texas Company 12/30/24 18 259
Yoakum County, TX
Lease No. Prospect Lessor Lessee Date of Lease Book Page Description
8000087A TX4056 Argo Oil Corporation Ross Williams 6/20/46 85 316 Insofar and only insofar and the lease covers:
Block D, John H. Gibson Survey
Sec. 512: NE1/4, E1/2SW1/4 & W1/2SE1/4
8000087B TX4056 Nannie Ramsey R.E. Williams 6/3/46 89 131 Insofar and only insofar and the lease covers:
Block D, John H. Gibson Survey
Sec. 512: NE1/4, E1/2SW1/4 & W1/2SE1/4
3165343 TX4058 Marcella M. West, et vir Mid-Kansas Oil & Gas 3/30/28 20 249 Insofar and only insofar as the lease covers:
Block D, John H. Gibson Survey
Sec. 606: E1/2 and SW1/4

SCHEDULE A
Page 8 of 8


SCHEDULE "B"

To Amendment To Purchase and Sale Agreement
Dated January 31, 2008
Between APACHE CORPORATION, as Seller
and VANGUARD PERMIAN, LLC, as Purchaser

MINERAL RIGHTS

Lea County, NM
Lease No. Prospect Grantor Grantee Date Page Book Description
9000657 NM5530 Roy H. Glockhoff, Executor Apache Corporation 9/6/01 1109 450 T16S, R37E, NMPM

Sec. 9: SW1/4

Crockett County, TX
Lease No. Prospect Grantor Grantee Date Page Book Description
9000067A TX5418 Amoco Production Company MW Petroleum Corporation Eff 10/15/90 466 839 Blk WX, GC & SF RR Survey

Sec. 28: All

Sec. 29: E1/2

Sec. 30: All

Sec. 35: E1/2E1/2N1/2


SCHEDULE "B"

To Amendment To Purchase and Sale Agreement
Dated January 31, 2008
Between APACHE CORPORATION, as Seller
and VANGUARD PERMIAN, LLC, as Purchaser

MINERAL RIGHTS

Gaines County, TX
Lease No. Prospect Grantor Grantee Date Page Book Description
9000384 TX4062 Amoco Production Company MW Petroleum Corporation Eff 10/15/90 559 126 Block A-21, Public School Lands

Sec. 16: W1/2NW1/4 and SW1/4

Block A-24, Public School Lands

Sec. 20: S1/4

Sec. 22: N1/2NE1/4

As corrected, as to the lands described herein, by that certain Act of Correction dated March 31, 1992, between Amoco Production Company and MW Petroleum Corporation and recorded in Book 568, page 680 of the records of Gaines County, Texas

SCHEDULE B
Page 2 of 2


SCHEDULE "C"

To Amendment to Purchase and Sale Agreement
Dated January 31, 2008
Between APACHE CORPORATION, as Seller
and VANGUARD PERMIAN, LLC, as Purchaser

REAL PROPERTY

Lea County, New Mexico
Lease No. Grantor Grantee Date Book Page Description
8000786 James H. Thomas, et ux Amerada Hess Corporation 12/26/70 322 569 Lots 7 and 8
Block 95
Llano Addition to the Town,
now City of Lovington, New Mexico, Lea County, New Mexico
Salt Water Disposal Systems
All contractual interest in and to the pipelines and/or facilities derived from the Articles or Agreement dated December 1, 1970 by and between Rice Engineering and Operating, Inc., as Operator, and Amerada Division, Amerada Hess Corporation, et al, as Parties thereto, for the construction and operation of the ABO Salt Water Disposal System operated by Rice Operating Company.
All contractual interest in and to the pipelines and/or facilities derived from the Articles or Agreement dated May 26, 1958 by and between Rice Engineering and Operating, Inc., as Operator, and Amerada Petroleum Corporation, et al, as Parties thereto, for the construction and operation of the Hobbs Salt Water Disposal System operated by Rice Operating Company.

SCHEDULE C
Page 1 of 1


SCHEDULE "D"

To Amendment to Purchase and Sale Agreement
Dated January 31, 2008
Between APACHE CORPORATION, as Seller
and VANGUARD PERMIAN, LLC, as Purchaser

EASEMENTS

Irion County, TX
Lease No. Prospect Lessor Lessee Date Book Page Description
4003926 TX5516 Texas Scottish Rite Hospital for Crippled Children Apache Corporation 9/19/03     A wellbore known as the Pipeline "57" lease, well #2 located within Section 56, and located one hundred (100) feet from the east line and two thousand eight hundred eight (2,808) feet from the south line of Section 56, Block 1, T&P RR Co. Survey, Irion Co., TX
Reagan County, TX
Lease No. Prospect Lessor Lessee Date Book Page Description
4003812 TX5516 Texas Scottish Rite Hospital for Crippled Children Apache Corporation 9/19/03     A wellbore known as the Rainbow "19" lease, well #1 located within Section 19, and located four hundred sixty-seven (467) feet from the north line and one thousand five hundred (1,500) feet from the west line of Section 19, Block 1, T&P RR Co. Survey, Reagan Co., TX

SCHEDULE D
Page 1 of 3


SCHEDULE "D"

To Amendment to Purchase and Sale Agreement
Dated January 31, 2008
Between APACHE CORPORATION, as Seller
and VANGUARD PERMIAN, LLC, as Purchaser

EASEMENTS

Reagan County, TX
Lease No. Prospect Lessor Lessee Date Book Page Description
4003975 TX5516 Texas Scottish Rite Hospital for Crippled Children Apache Corporation 4/5/05     A wellbore known as the Fandango #3 well located nine hundred thirty-six feet (936’) from the north line and one thousand five hundred sixty-seven feet (1,567’) from the east line of Section 33, Block 1, T&P RR Co. Survey, Reagan Co., TX
4004291 TX5516 Texas Scottish Rite Hospital for Crippled Children Apache Corporation 7/14/05     A wellbore known as the Tejas #2 well located one hundred feet (100’) from the east line and one thousand six hundred twenty five feet (1,625’) from the south line of Section 42, Block 1, T&P RR Co. Survey, Reagan Co., TX

SCHEDULE D
Page 2 of 3


SCHEDULE "D"

To Amendment to Purchase and Sale Agreement
Dated January 31, 2008
Between APACHE CORPORATION, as Seller
and VANGUARD PERMIAN, LLC, as Purchaser

EASEMENTS

Tom Green County, TX
Lease No. Prospect Lessor Lessee Date Book Page Description
4000601 TX4021 Shirley G. Reed MW Petroleum Corporation 4/1/95     C & M PR Co. Survey
Sec. 1131: A 2 acre tract of land in the form of a square around the SWD Well (Hoblit-Jacobs Ranch Co. A #8 well which is located in the SW1/4SE1/4, being more specifically in said instrument.
Yoakum County, Texas
Lease No. Prospect Lessor Lessee Date Book Page Description
4000011 TX4058 Charles H. Barber, et ux, et al Pan American Petroleum Corporation 11/26/57 176 339 Block D, John H. Gibson Survey
Sec. 639: a 2 acre tract in the NW1/4 being more specifically described in said surface lease

SCHEDULE D
Page 3 of 3