Drilling Rig Joint Venture Agreement Sample Contracts

LARIAT SERVICES, INC. AMARILLO, TX 79116-0209

Drilling Rig Joint Venture Agreement • October 27th, 2005 • Clayton Williams Energy Inc /De • Crude petroleum & natural gas

• Contract Type
  Drilling Rig Joint Venture Agreement
• Filed
  October 27th, 2005
• Company
  Clayton Williams Energy Inc /De
• Industry
  Crude petroleum & natural gas

This letter, when executed by Clayton Williams Energy, Inc. (“CWEI”), will constitute a binding agreement between Lariat Services, Inc. (“Lariat”) and Williams to form an entity LARCLAY, LLC (“LARCLAY”) to acquire at least 12 drilling rigs. It is contemplated that the parties will execute further agreements, including Regulations to LARCLAY, an Operating Agreement between LARCLAY and Lariat, which will operate the equipment, and other necessary documents to consummate the transaction.