EX-10.16



 Exhibit 10.16 

SECOND MODIFICATION TO 

LOAN AND SECURITY AGREEMENT 

This Second Modification to Loan and Security Agreement (“Second Modification Agreement”) is made effective and entered into this
31st day of January, 2014, by and between BISON DRILLING AND FIELD SERVICES LLC, a Delaware limited liability company (“Borrower”) and INTERNATIONAL BANK OF COMMERCE (the “Lender”). 

WITNESSETH: 

WHEREAS, on or about May 31, 2013, Borrower and Lender entered into that certain Loan and Security Agreement (the “Loan
Agreement”) pursuant to which Borrower executed and delivered to Lender two promissory notes, as follows (1) that certain Revolving Line of Credit Promissory Note in the face amount of $5,000,000, with a maturity date of June 1, 2014
(“Revolving Note”); and (2) that certain Promissory Note in the face amount of $30,000,000, with a maturity date of April 1, 2017 (the “Term Note”) (the Revolving Note and Term Note are collectively referred to as the
“Notes”); 
 WHEREAS, on or about August 27, 2013, Borrower and Lender executed that certain First Modification to
Loan and Security Agreement (the “First Modification”) which modified certain provisions of the Loan Agreement, specifically relating to Collateral, Use of Proceeds and the Fixed Charge Coverage Ratio; 

WHEREAS, Borrower has requested Lender to advance additional funds to Borrower in order to fund an acquisition of additional drilling
equipment to be included as Collateral under the Loan Agreement; 
 WHEREAS, Lender has agreed to such an advance and Borrower and
Lender wish to modify certain terms of the Loan Agreement, as provided for herein; and 
 NOW, THEREFORE, in consideration of the
premises and of the mutual covenants and agreements contained herein, and for other good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, the Lender and Borrower hereby covenant and agree as follows: 

1. Modification of Loan: Subject to the conditions to lending set forth below, Lender agrees to lend to Borrower an additional
Twenty-Five Million Dollars ($25,000,000) under the terms of that certain Amended and Restated Promissory Note (the “Amended Term Note”) and agrees to modify the Loan Agreement as set forth in this Second Modification Agreement: 

(a) Conditions to Lending. Prior to advancing funds under the Amended Term Note, Lender requires the following conditions to be met:

 (i) Borrower must provide Lender copies of the fully executed agreements with Forrest Oil and Lantern Drilling as well as
documentation supporting Borrower’s acquisition of five additional drilling rigs from each of Siemens Financial Services, Inc., Banc of America Leasing Capital, LLC, Wells Fargo Equipment Finance Inc. and RBS


  
  

			
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Asset Finance, Inc. for a total purchase price of Forty-Seven Million Dollars ($47,000,000) (the “New Rigs”), which documentation shall include payoff letters and proposed forms of
bills of sale or other transfer documentation from each financial institution; and all of the agreements and transfer documentation when read together must provide Lender with reasonable assurances that the New Rigs are free of any and all
encumbrances and that Lender is reasonably protected against the same; 
 (ii) Borrower must provide Lender with a detailed
manifest of all equipment comprising the New Rigs, complete with serial numbers or VIN numbers where appropriate; 
 (iii)
Borrower must provide Lender with verifiable proof of Borrower’s additional source of funds needed to acquire the New Rigs, and such proof must evidence a capital infusion by one of the Members of Borrower and must not be in the form of a loan;
and 
 (iv) Borrower must obtain and deliver to Lender certain Limited Guaranty Agreements executed by each of Wexford
Capital, L.P. and Lambda Investors, LLC. 
 (b) Omnibus Modification. All references to the “Term Loan” or “Term
Note” in the Loan Agreement and the First Modification are hereby modified to include the Amended Term Note and to reflect a principal balance of $51,863,284.12, as set forth in the Amended Term Note. The Amended Term Note is accepted not in
payment of but to increase and modify the terms of the Term Note. 
 2. Modification/Addition of Collateral: Lender and Borrower
desire to amend the descriptions of Collateral contained on Schedule 1 of the Loan Agreement to include the New Rigs, as follows: 
 (a)
Schedule 1: Schedule 1 of the Loan Agreement is hereby modified and supplemented with the Schedule 1-Supplement attached hereto to reflect the additional Collateral that makes up the New Rigs. 

(b) Additional UCC Filings: Lender is authorized make any and all UCC filings necessary to reflect Lender’s security interest in
the additional Collateral that makes up the New Rigs. 
 3. Modification and/or Replacement of Certain Provisions. 

(a) The following definition is hereby added as Section 1.42 to “Section 1. CONSTRUCTION AND DEFINITION OF TERMS” of the Loan
Agreement: 
 1.42. “Limited Guaranties” shall mean those certain Limited Guaranty Agreements executed of even date
herewith by each of Wexford Partners 11, L.P. and Lambda Investors, LLC. The Limited Guaranties are specifically included in the definition of the “Loan Documents”. 

  
  

			
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 (b) The following provision is hereby added as Section 2.1(c) to the Loan Agreement: 

2.1(c). Term Note Use of Additional Proceeds. Lender agrees to lend to Borrower the additional funds under the Amended
Term Note for the specific purpose of partially funding Borrower’s acquisition of the New Rigs. 
 (c) Section 6.20 of the Loan
Agreement and the First Modification is hereby deleted and replaced with the following provision: 
 6.20. Fixed Charge
Coverage Ratio. Beginning with the quarter-ending June 30, 2014, Borrower will at all times maintain a Fixed Charge Coverage Ratio of not less than 1.35 to 1. Beginning with the quarter-ending June 30, 2014 through the quarter ending
December 31, 2014, the Fixed Charge Coverage Ratio will be tested quarterly on the following basis: for the quarter-ending June 30, 2014 the test will cover the three months ending on June 30, 2014; for the quarter-ending
September 30, 2014, the test will cover the six months ending September 30, 2014; for the quarter-ending December 31, 2014, the test will cover the nine months ending December 31, 2014. Beginning with the quarter-ending
March 31, 2015, the Fixed Charge Coverage Ratio shall be calculated and tested quarterly on a rolling 4 quarters basis. The Fixed Charge Coverage Ratio is calculated as the EBITDA for the period minus Distributions, minus Non-Financed Capital
Expenditures, divided by the sum of current maturities plus interest expense. 
 (d) Section 6.23 of the Loan Agreement is hereby
deleted and replaced with the following provision: 
 6.23. Minimum Tangible Net Worth. Borrower shall maintain at all
times a Tangible Net Worth of at least FIFTY MILLION and 00/100 DOLLARS ($50,000,000), calculated and tested quarterly. 
 (e) The following
provision is hereby added as Section 6.26 to “Section 6. AFFIRMATIVE COVENANTS” of the Loan Agreement: 

6.26. Calculation of Financial Covenants. All financial covenants calculated under the Loan Agreement shall be based
solely upon Borrower’s financial information and shall exclude any special or extraordinary items such as one-time gains or capital contributions, investments, loans or any other capital infusions by any Member of Borrower or any Affiliate
thereof, which could artificially impact the Borrower’s financial position. 
 (f) Section 8.4 of the Loan Agreement is hereby
deleted and replaced with the following provision: 
 8.4. Default under Loan Documents. The occurrence of an Event of
Default under any of the Loan Documents related to either the Term Loan or the Revolving Loan. For the avoidance of doubt, the occurrence of an Event of Default under either the Term Loan or the Revolving Loan or the breach of any provision of the
Limited Guaranties shall also be considered an Event of Default under the other Loan. 
 4. Loan Fee & Costs: Borrower shall
pay Lender at closing a fee equal to one percent (1%) of the increased principal amount of the Term Loan which is equal to Two Hundred Fifty Thousand Dollars ($250,000.00), plus Lender’s attorneys’ fees incurred as a result of this
transaction. 

  
  

			
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 5. Effectiveness of Loan Documents: Except as specifically modified by the terms and
provisions hereof, each and every of the terms and provisions of the Loan Documents (as defined in Section 1.29 of the Loan Agreement) are and shall remain in full force and effect and are hereby assumed, ratified, and confirmed; and the
execution, delivery, and effectiveness of this Second Modification Agreement shall not, except as expressly provided herein, operate as a waiver of any right, power or remedy of Lender under any of the Loan Documents nor constitute a waiver of any
provision of any of the Loan Documents. The parties hereto agree that the modifications herein contained to the Loan Documents shall not affect or impair the Loan Documents or any lien(s) securing the same. 

6. Execution Counterparts: This Second Modification Agreement may be executed in any number of counterparts, each of which so executed
and delivered shall be deemed to be an original and all of which taken together shall constitute one and the same instrument. 
 7.
Governing Law: The terms and provisions hereof shall be governed by, construed, and enforced in accordance with the laws of the State of Oklahoma. 

8. Entire Agreement: This Second Modification Agreement constitutes the entire agreement of the parties with respect to the subject
matter hereof, and may be amended only in writing, executed by all parties herein. 
 9. Modification Only. This agreement is only a
modification of the Loan Agreement and not a novation. All terms and conditions of the Notes and all other Loan Documents executed in connection with said Notes shall remain in full force and effect. 

10. Defined Terms. Any term not defined herein shall have the meaning set forth in the Loan Agreement. 

  
  

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

							
	BORROWER:	 		 	BISON DRILLING AND FIELD SERVICES LLC, a Delaware limited liability company
				
		 		 	By:	 	 /s/ Kaes Van’t Hof

		 		 		 	KAES VAN’T HOF, Chief Executive Officer
			
	LENDER:	 		 	INTERNATIONAL BANK OF COMMERCE
				
		 		 	By:	 	 /s/ Thomas L. Travis

		 		 		 	THOMAS L. TRAVIS, President


  
  

			
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 SCHEDULE 1 - Supplement 

To Loan and Security Agreement 

(January 2014 supplement) 

Additional Equipment Collateral 

“New Rigs” 
 The Equipment described in
Section 1.14(c) of the Loan and Security Agreement includes the additional equipment that makes up the New Rigs and includes but is not limited to the following listing: 

RIG #10 
  

					
	RIG TYPE:	  	IDM Equipment 1600 A/C VFD Quicksilver Drilling System
		
	DEPTH RANGE:	  	15,000’- 20,000’ with max casing load factor
		
	DRAWWORKS:	  	 New IDM MAC 1600-1600 HP Grooved for 1 3/8” drilling line

Serial Number: AC5630

		
	PUMPS:	  	2- 1600 HP Emsco Type Triplex Pumps Driven with 1500 A/C Drive Motors
		  	Mud Pump 1 Serial Number: 06-114
		  	Mud Pump 2 Serial Number: 06-100
		
	POWERED BY:	  	3- Caterpillar D-3512 Diesel Engines with 1365 KW Hertz Generators
		  	Generator 1 Serial Number: 9RZ200480
		  	Generator 2 Serial Number: 9RZ00481
		  	Generator 3 Serial Number: 9RZ00492
		
	MAST:	  	New 136’ IDM Derrick rated 750,000# with 12 lines
		  	Serial Number: M5630
		
	SUB BASE:	  	IDM Telescoping sub 22’ High with 17-8” Clear Rotary HT
		  	Casting Capacity: 750,000 lb.	  	Set Back Capacity: 455,000 lb.
		  	Serial Number: 6-5630	  	
		
	ROTARY & DRIVE:	  	ZP-375 Table with 37 1/2” opening. Independent Drive with 1150 HP A/C Motors
		
	BLOCKS:	  	New 400 Ton Traveling Blocks
		
	DRILL PIPE:	  	14,102’ S-135 41/2” 16.60#/ft. XH Drill Pipe
			
	DRILL COLLARS:	  	21- 6 1/2” DC’S	  	4 1/2 XH Connections
		  	9- 8” DC’S	  	6 5/8 Regular Connections
		
	WATER TANKS:	  	1- 500 BARREL Tank with 2 X 3 Centrifugal Pumps
		
	DIESEL TANKS:	  	300 BARREL Round Tank with 2- Roper Diesel Feed Pumps
		
	MUD TANKS I SHALE	  	2- 10’ W X 50’ L X 9’ H Round BTM Tanks 1000 BARREL Total Capacity with 2- 5 X 6 Cent Pumps mounted


  
  

			
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	PIT SUCTION PIT:	  	on each stand with a 63 barrel pit + (2) - 215 barrel compartments in the suction pit
		
	IDM SCR HOUSE:	  	Power Control House equipped with all A/C Controls Synchronizing System control interface
		
	DRILLERS CABIN:	  	Equipped with all stainless steel Drillers Controls Joy Stick & All controls - touch screen
		
	COMPRESSORS:	  	2- Gardner Denver HRA2512S Compressors with 1 RNC Gardner Denver Refrigerated Air Dryer
		
	SELF ELEVATING SOLID CONTROL MUD SKID:	  	 Equipped with 3- Linear Motion King Cobra Shale Shaker

1- 1000 GPM Vacuum Degasser Brandt
 1- 16 Cone
Desilter

		
	KELLY SPINNER:	  	1- New Hydraulic Controlled Kelly Spinner
		
	TRIP TANK:	  	1- 70 BARREL Trip Tank with 1- 3 X 2 Centrifugal Pump
		
	MUD GAS SEPERATOR & KILL MANIFOLD:	  	 1- Self Elevating 1200 GPM Mud Gas Separator with 4” -10K Choke &

Kill Manifold with 1- Manual & 1- Hydraulic Swaco Super Choke

		
	WIRELINE:	  	Electric Wire line Machine with 15,000’ ---.092; Line Capable 20,000’---.082 Line
		
	BOPE:	  	13 5/8” 5000 PSI Cameron Double and Single Ram BOPS, 13 5/8” 5000 PSI Cameron Annular BOP
		
		  	BOP Serial Number: 30285b
		  	Accumulator Serial Number: 401


  
  

			
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 RIG #14 
  

					
	RIG TYPE:	  	BHL 1500 HP SCR Split Level Type Drilling Rig
		
	DEPTH RANGE:	  	15,000’- 17,000’ with max casing load factor
		
	DRAWWORKS:	  	National NOV 1500 1500 UE Rated 1500 HP. Powered by two 800 HP GE/Traction Motors
		
		  	Auxiliary Brake: Wichita 1500 HP Disc Brake
		  	Serial Number: 106 004
		
	PUMPS:	  	2 - Model FC - 1600 - 1600 HP Triplex Mud Pumps Powered by two GE752/Traction motors
		
		  	With K-20 gallon 5000 PSI Pulsation Dampeners, two 8 x 6 x 11 Centrifugal Charge Pumps
		  	3” X 5000 PSI Pop Offs
		  	Mud Pump 1 Serial Number: 06-331
		  	Mud Pump 2 Serial Number: 06-409
		
	POWERED BY:	  	3 - Detroit Diesel 12V4000 1500 HP Engines
		  	3 - Kato 1365 KW Generators for SCR Applications
		  	Generator 1 Serial Number: 5262003263
		  	Generator 2 Serial Number: 5262003193
		  	Generator 3 Serial Number: 5262003140
		
	TOP DRIVE	  	Canrig Model 1035 AC 1000 HP 350 Ton Unit with AC Control House
		  	Serial Number: 838
		  	House Serial Number: J11628
		
	MAST:	  	146’ Cantilever/Split Level Mast 750,000 lb. Hook Load Capacity
		  	Derrick will accommodate a 500 ton Top Drive Unit
		  	Serial Number: M-5060-11-08
		
	SUBBASE:	  	SL - 146 Split Level Sub Base. Drill Floor Height: 25”
		  	Casting Capacity: 750,000 lb.	  	Set Back Capacity: 400,000 lb.
		  	Serial Number: S-5060-11-08
		
	ROTARY & DRIVE:	  	37 1/2” 500 Ton Powered by GE/Traction Motor
		  	Serial Number: 806-6-3
		
	BLOCKS:	  	500 Ton with Six 50” Sheaves Grooved 1 3/8” Line
		
	SWIVEL:	  	500 Ton
		
	DRILL PIPE:	  	15,000’ Grade S – 4 1/2” With IF Connections
			
	DRILL COLLARS:	  	16 - 6 1/4” with 4 1/2” XH Connections	  	5 - 8” with 6 5/8” Regular Connections
			
	WATER TANKS:	  	1 - 500 BARREL	  	


  
  

			
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	DIESEL TANKS:	  	300 BARREL with 2 Diesel Purifiers
		
	MUD TANKS / SHALE	  	Shale Pit 500 BARREL With 3 - MCM Shale Shakers. 2 - 6 x 5 x 11 Centrifugal Pumps
		
	PIT SUCTION PIT:	  	1 - 12 Cone Desilter. 1 - 1 Cone Desander
		  	Intermediate Tank 500 BARREL with 3 Mud Agitators
		  	Suction Pit 500 BARREL with 2 - 6 x 5 x 11 Centrifugal Pumps
		  	3 - Mud Agitators	  	2 - Mud Mixing Hoppers
		  	All Pits Fitted with Telescoping Roof Covers
			
	SCR HOUSE:	  	3 - Generator x 4 SCR System	  	600 VAC, 75o VDC 3 Phase
		  	Input 1,600 Amps, 60 Hz	  	Output; 750 VDC, 2000 Amp ADC
		  	Climate Controlled, Self-contained Unit
		  	Serial Number: 08-8764
		
	COMPRESSORS:	  	2 - Screw Type, 173 CFM, 125 PSI
		
	KELLY SPINNER:	  	Air Driven with Reverse
		
	TRIP TANK:	  	100 BARREL with 1 - 3 x 4 x 13 Centrifugal Pump
		
	GAS BUSTER:	  	1 -OEM Poor Boy 24”
		
	CHOKE & KILL MANIFOLD:	  	 1 - 10,000 PSI with 2 9/16” Hydraulic Adjustable Choke

1 - Remote Control Panel on Rig Floor

		
	WIRELINE:	  	Electric 15,000’ .092 Wire
		
	WELL CONTROL:	  	1 - Annular type 13 5/8” Shaffer 5000 PSI
		  	1 - Ram Type 13 5/8” 5,000 PSI Cameron Type U Double
		  	1 - Ram Type 13 5/8” 5,000 PSI Cameron Type U Double Type U Single
		  	Serial Number: 4374
		
	IRON ROUGHNECK:	  	Blohm & Voss GF 1100
		  	Serial Number: FH0145BV
		  	HPU Serial Number: HPU0045BV


  
  

			
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 RIG #15 
  

					
	RIG TYPE:	  	BHL 1500 HP SCR Split Level Type Drilling Rig
		
	DEPTH RANGE:	  	15,000’- 17,000’ with max casing load factor
		
	DRAWWORKS:	  	National NOV 1500 UE Rated 1500 HP. Powered by two 800 HP GE/Traction Motors
		  	Auxiliary Brake: Wichita 1500 HP Disc Brake
		
	PUMPS:	  	2 - Model FC - 1600 - 1600 HP Triplex Mud Pumps Powered by two GE752/Traction motors.
		  	With K-20 gallon 5000 PSI Pulsation Dampeners, two 8 x 6 x 11 Centrifugal Charge Pumps.
		  	3” X 5000 PSI Pop Offs
		  	Mud Pump 1 Serial Number: 08-079
		  	Mud Pump 2 Serial Number: 08-075
		
	POWERED BY:	  	3 - Detroit Diesel 12V4000 1500 HP Engines
		  	3 - Kato 1365 KW Generators for SCR Applications
		  	Generator 1 Serial Number: 19185-01
		  	Generator 2 Serial Number: 19185-03
		  	Generator 3 Serial Number: 19017-03
		
	MAST:	  	146’ Cantilever/Split Level Mast 750,000 lb. Hook Load Capacity
		  	Derrick will accommodate a 500 ton Top Drive Unit
		  	Serial Number: M-5065-01-09
		
	TOP DRIVE:	  	Canrig Model 1035 AC 1000HP 350 Ton with AC Control House
		  	Serial Number: 848
		
	SUB BASE:	  	SL - 146 Split Level Sub Base. Drill Floor Height: 25”
		  	Casting Capacity: 750,000 lb.	  	Set Back Capacity: 400,000 lb.
		  	Serial Number: S-5065-01-09
		
	ROTARY & DRIVE:	  	37 1/2” 500 Ton Powered by GE/Traction Motor
		
	BLOCKS:	  	500 Ton with Six 50” Sheaves Grooved 1 3/8” Line
		
	SWIVEL:	  	500 Ton
		
	DRILL PIPE:	  	14,963’ Grade S - 4 1/2” With IF Connections
			
	DRILL COLLARS:	  	20 - 6 1/4” with 4 1/2” XH Connections	  	6 - 8” with 6 5/8” Regular Connections
		
	WATER TANKS:	  	1 - 500 BARREL
		
	DIESEL TANKS:	  	300 BARREL with 2 Diesel Purifiers
		
	MUD TANKS / SHALE	  	Shale Pit 500 BARREL With 3 - MCM Shale Shakers. 2 - 6 x 5 x 11 Centrifugal Pumps


  
  

			
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	PIT SUCTION PIT:	  	1 - 12 Cone Desilter. 1 - 1 Cone Desander
		  	Intermediate Tank 500 BARREL with 3 Mud Agitators
		  	Suction Pit 500 BARREL with 2 - 6 x 5 x 11 Centrifugal Pumps
		  	3 - Mud Agitators	  	2 - Mud Mixing Hoppers
		  	All Pits Fitted with Telescoping Roof Covers.
		
	SCR HOUSE:	  	3 - Generator x 4 SCR System 600 VAC, 75o VDC 3 Phase
		  	Input 1,600 Amps, 60 Hz	  	Output; 750 VDC, 2000 Amp ADC
		  	Climate Controlled, Self-Contained Unit
		  	Serial Number: 08-8770
		
	COMPRESSORS:	  	2 - Screw Type, 173 CFM, 125 PSI
		
	KELLY SPINNER:	  	Air Driven with Reverse
		
	TRIP TANK:	  	100 BARREL with 1 - 3 x 4 x 13 Centrifugal Pump
		
	GAS BUSTER:	  	1 - OEM Poor Boy 24”
		
	CHOKE & KILL MANIFOLD:	  	 1 - 5,000 PSI with 2 9/16” Hydraulic Adjustable Choke

1 - Remote Control Panel on Rig Floor

		
	WIRELINE:	  	Electric 15,000’ .092 Wire
		
	WELL CONTROL:	  	1 -Annular type 13 5/8” Shaffer 5000 PSI
		  	1 -Type 13 5/8” 10,000 PSI Cameron Type U Double
		  	1 -Type 13 5/8” 10,000 PSI Cameron Type U Single
		  	Serial Number: 0809126
		  	Accumulator Serial Number: 4375
		
	IRON ROUGHNECK:	  	Blohm & Voss GF 1100
		  	HPU Serial Number: HPU0047V


  
  

			
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 RIG #16 
  

					
	RIG TYPE:	  	IDM Equipment 1600 A/C VFD Quicksilver Drilling System
		
	DEPTH RANGE:	  	15,000’- 20,000’ with max casing load factor
		
	DRAWWORKS:	  	New IDM MAC 1600-1600 HP Grooved for 1 3/8” drilling line
		  	Serial Number: 5787 / 442669
		
	PUMPS:	  	2- 1600 HP Triplex Pumps - EMSCO type Pumps. Independent Driven with 1500 A/C Drive Motors
		  	Mud Pump 1 Serial Number: 2008-1 / PP08051481
		  	Mud Pump 1 Serial Number: 2008-3 / PP08051364
		
	POWERED BY:	  	3 - Caterpillar D-3512 Diesel Engines with 1365 KW Hertz Generators
		  	Generator 1 Serial Number: LLA 01120 / 9R200802
		  	Generator 2 Serial Number: LLA 01133 / 9R200803
		  	Generator 3 Serial Number: LLA 01141 / 9R200804
		
	MAST:	  	New 136’ IDM Derrick rated 750,000# with 12 lines
		  	Serial Number: 5787M
		
	SUB BASE:	  	IDM Telescoping sub 22’ High w/17-8” Clear Rotary HT. 750,000 CSG load w/455,000 Setback Capacity
		  	Serial Number: 5787S
			
	ROTARY & DRIVE:	  	ZP-375 Table with 37 1/2” opening.	  	Independent Drive with 1150 HP A/C Motors
		
	BLOCKS:	  	New 400 Ton Traveling Blocks
		
	SWIVEL:	  	400 Ton TBD Swivel
		
	DRILL PIPE:	  	14,044 Grade S-135 5” Drill pipe, 4 1/2” I F Connections
			
	DRILL COLLARS:	  	13 - 6 1/2” DC’s	  	4 1/2 XH Connections
		  	6 - 8” DC’s	  	6 5/8 Regular Connections
		
	WATER TANKS:	  	1 - 500 BARREL Tank with 2 X 3 Centrifugal Pumps
		
	DIESEL TANKS:	  	300 BARREL Round Tank with 2 - Roper Diesel Feed Pumps
		
	MUD TANKS / SHALE	  	2 - 10” W X 50’ L X 9’ H Round BTM Tanks 1000 BARREL Total Capacity with 2 – 5 X 6 Cent
		
	PIT SUCTION PIT:	  	Pumps mounted on each end with a 63 barrel pit + (2) - 215 barrel compartments in the suction pit
		
	IDM SCR HOUSE:	  	Power Control House equipped with all A/C Controls Synchronizing System control interface
		  	Serial Number: 5787VFD


  
  

			
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	DRILLERS CABIN:	  	Equipped with all stainless steel Drillers Controls Joy Stick & All controls - touch screen
		
	COMPRESSORS:	  	2 - Gardner Denver HRA2512S Compressors with 1 RNC Gardner Denver Refrigerated Air Dryer
		
	SELF ELEVATING SOLID CONTROL MUD SKID:	  	 Equipped with 3 - Linear Motion Swaco Mongoose Shakers

1-1000 GPM Vacuum Degasser Brandt
 1 - 16 Cone
Desilter

		
	KELLY SPINNER:	  	1- New Hydraulic Controlled Kelly Spinner
		
	TRIP TANK:	  	1 - 70 Barrel Trip Tank with 1 - 3 X 2 Centrifugal Pumps
		
	MUD GAS SEPARATOR & KILL MANIFOLD:	  	1 - Self Elevating 1200 GPM Mud Gas Separator with 4” - 10K Choke & Kill Manifold with 1 - Manual & 1 - Hydraulic Swaco Super Choke
		
	WIRELINE:	  	Electric Wire Line Machine with 15,000’---.092 Line Capable 20,000’---.082 Line
		
	WELL CONTROL:	  	13 5/8” X 10,000 PSI Cameron U Type Double and Single Ram BOP’s 13 5/8” Shaffer type Annular
		  	10,000 PSI Choke and Kill Manifold with Adjustable Hydraulic Super Choke
		  	Single Ram Serial Number: CP-151687/2
		  	Double Ram Serial Number: CP-151687/2
		  	Accumulator Serial Number: 4435
		
	TOP DRIVE:	  	350 Ton Canrig Model 1035 AC Top Drive Unit
		  	Serial Number: 745
		
	WALKING SYSTEM:	  	Walking system to walk fully erected rig across level, stabilized and matted location from one well site
		  	To the next at 40’ per hour manually rotated to move in 8 directions
		  	Serial Number: 5787


  
  

			
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 RIG #17 
  

					
	RIG TYPE:	  	IDM Equipment 1600 A/C VFD Quicksilver Drilling System
		
	DEPTH RANGE:	  	15,000’ - 20,000’ with max casing load factor
		
	DRAWWORKS:	  	New IDM MAC 1600-1600 HP Grooved for 1 3/8” drilling line
		  	Serial Number: 5788D
		
	PUMPS:	  	2 - 1600 HP Triplex Pumps China - EMSCO Pumps. Independent Driven with 1500 A/C Drive Motors
		  	Mud Pump 1 Serial Number: 2008-11 / PP08123486
		  	Mud Pump 2 Serial Number: 2008-10 / PP08123576
		
	POWERED BY:	  	3 - Caterpillar D-3512 Diesel Engines w / 1365 KW Hertz Generators
		  	Generator 1 Serial Number: 9RZ00716
		  	Generator 2 Serial Number: 9RZ00714
		  	Generator 3 Serial Number: 9RZ00633
		
	MAST:	  	New 136’ IDM Derrick rated 750,000# with 12 lines
		  	Serial Number: 5788M
		
	TOP DRIVE:	  	Canrig Model 1035 AC 1000HP 350 ton Top Drive Unit
		  	Serial Number: 866
		
	SUB BASE:	  	IDM Telescoping sub 22’ High w/17-8” Clear Rotary HT 750,000 CSG load w/ 455,000 Setback Capacity
		  	Serial Number: 5788S
		
	ROTARY & DRIVE:	  	ZP - 375 Table with 37 1/2” opening. Independent Drive with 1150 HP A/C Motors
		
	BLOCKS:	  	New 400 Ton Traveling Blocks
		
	SWIVEL:	  	400 Ton King Swivel
		
	DRILL PIPE:	  	17,388’ Grade S Drill pipe, 4 1/2” I F Connections
		
	DRILL COLLARS:	  	24 - 6 1/2” DC’s 4 1/2 XH Connections
		  	8 - 8” DC’s 6 5/8 Regular Connections
		
	WATER TANKS:	  	1 - 500 Barrel Tank with 2 X 3 Centrifugal Pumps
		
	DIESEL TANKS:	  	300 Barrel Round Tank with 2 - Roper Diesel Feed Pumps
		
	MUD TANKS / SHALE	  	2 - 10” W X 50’ L X 9’ H Round BTM Tanks 1000 Barrel Total Capacity with 2 - 5 X 6 Cent
		
	PIT SUCTION PIT:	  	Pumps mounted on each end with a 63 barrel pit + (2) - 215 barrel compartments in the suction pit


  
  

			
	IBC / BISON DRILLING	  	Schedule 1 – Description of Collateral
	SECOND MODIFICATION TO LOAN & SECURITY AGREEMENT || EXECUTION VERSION	  	Page 14










					
		
	IDM SCR HOUSE:	  	Power Control House equipped with all A/C Controls Synchronizing System control interface
		
	DRILLERS CABIN:	  	Equipped with all stainless steel Drillers Controls Joy Stick & All controls - touch screen
		
	COMPRESSORS:	  	2 - Gardner Denver HRA2512S Compressors with 1 RNC Gardner Denver Refrigerated Air Dryer
		
	SELF ELEVATING SOLID CONTROL MUD SKID:	  	 Equipped with 3 Linear Motion Swaco Mongoose Shakers

1 - 1000 GPM Vacuum Degasser Brandt
 1 - 16 Cone
Desilter

		
	KELLY SPINNER:	  	1-New Hydraulic Controlled Kelly Spinner
		
	TRIP TANK:	  	1 - 70 Barrel Trip Tank with 1 - 3 X 2 Centrifugal Pump
		
	MUD GAS SEPARATOR & KILL MANIFOLD:	  	1 - Self Elevating 1200 GPM Mud Gas Separator with 4”- 10K Choke & Kill Manifold with 1 - Manual & 1 - Hydraulic Swaco Super Choke
		
	WIRELINE:	  	Electric Wire Line Machine with 15,000’---.092 Line Capable 20,000’---.082 Line
		
	WELL CONTROL:	  	13 5/8” X 5,000 PSI Cameron U Type Double Ram and Single Ram BOP’s
		  	13 5/8” X 5,000 PSI Shaffer Annular BOP. 5,000 PSI Choke and Kill Manifold with Adjustable Hydraulic Choke
		  	Serial Number: 4436


  
  

			
	IBC / BISON DRILLING	  	Schedule 1 – Description of Collateral
	SECOND MODIFICATION TO LOAN & SECURITY AGREEMENT || EXECUTION VERSION	  	Page 15