Brief: Intrepid Agrees To Support XTO's Development And Operation Of XTO's Oil And Gas Interests Within DPA

Intrepid Potash

13/12/2023 22:46

Dec 13 (Reuters) - Intrepid Potash Inc  IPI.N :
    * INTREPID POTASH - ON DEC 12, ENTERED INTO THIRD AMENDMENT
OF
COOPERATIVE DEVELOPMENT AGREEMENT WITH XTO HOLDINGS, LLC AND XTO
DELAWARE BASIN, LLC
    * INTREPID POTASH INC - AMENDMENT HAS AN EFFECTIVE DATE OF
JANUARY
1, 2024
    * INTREPID POTASH INC - INTREPID AGREES TO SUPPORT AND NOT
OPPOSE
XTO'S DEVELOPMENT AND OPERATION OF XTO'S OIL AND GAS INTERESTS
WITHIN DPA
    * INTREPID POTASH INC - ON DECEMBER 12, 2023 AND JANUARY 2,
2024,
INTREPID SHALL RECEIVE INITIAL PAYMENTS OF $5 MILLION AND $45
MILLION, RESPECTIVELY, FROM XTO
    * INTREPID POTASH INC - AMENDMENT ALSO PROVIDES THAT
INTREPID
SHALL RECEIVE AN ADDITIONAL ONE-TIME PAYMENT EQUAL TO $50
MILLION AS AN "ACCESS FEE,"

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