Document:

exv10w15

 

Exhibit 10.15

AMENDED AND RESTATED

NATURAL GAS SALES AGREEMENT

TARGA LOUISIANA FIELD SERVICES LLC

(“Buyer”)

And

TARGA GAS MARKETING LLC

(“Seller”)

Effective as of December 1, 2005

 

 

AMENDED AND RESTATED NATURAL GAS SALES AGREEMENT

This Amended and Restated Natural Gas Sales Agreement is entered into on October ___, 2007, but
effective as of December 1, 2005 by and between TARGA LOUISIANA FIELD SERVICES LLC (“Buyer”) and
TARGA GAS MARKETING LLC (“Seller”) (each a “Party,” and together, the “Parties”), and sets forth
the terms and conditions pursuant to which Seller will sell to Buyer, and Buyer will purchase from
Seller, certain Gas (as hereinafter defined). This Agreement amends and restates in its entirety
that certain Natural Gas Sales Agreement executed on February 1, 2007 and effective as of December
1, 2005.

Definitions: As used in this Agreement, the following terms shall have the following
meaning:

“Affiliate” means any Person that directly or indirectly through one or more
intermediaries, controls or is controlled by or is under common control with the Person specified,
with the term “control” (including the terms “controlled by” or “under common control with”)
meaning the possession, directly or indirectly, of the power to direct or cause the direction of
the management and policies of a Person, whether through ownership, by contract, or otherwise. Any
Person shall be deemed to be an Affiliate of any specified Person if (i) such Person owns fifty
percent (50%) or more of the voting securities of the specified Person, if the specified Person
owns fifty percent (50%) or more of the voting securities of such Person, or if fifty percent (50%)
or more of the voting securities of the specified Person and such Person are under common control,
or (ii) such Person has operational control of the specified Person pursuant to an operating
agreement, management agreement or other contractual rights.

“Business Day” means any day except Saturday, Sunday or Federal Reserve Bank holidays.

“Claims” means any and all claims, liabilities, losses, damages, demands, penalties, fines,
causes of action, remediation expenses, suits, judgments, arbitration awards, court orders,
directives, injunctions, decrees or awards of any jurisdiction, and any costs and expenses related
to the same (including court costs, reasonable attorneys’ fees, and other reasonable expenses of
litigation).

“Confidential Information” means this Agreement and any other written data or information
(or an oral communication if the Party requesting confidentiality for such oral communication
promptly confirms such communication in writing) which is privileged, confidential or proprietary,
except information which (i) is a matter of public knowledge at the time of its disclosure or is
thereafter published in or otherwise ascertainable from any source available to the public without
breach of this Agreement, (ii) constitutes information which is obtained from a third party (who or
which is not an Affiliate of one of the Parties) other than by or as a result of unauthorized
disclosure, or (iii) prior to the time of disclosure had been independently developed by the
receiving Party or its Affiliates not utilizing improper means.

“Damage Payments” means all liquidated damages or other payments received by Buyer or
Seller from any Person as a result of such Person’s failure to take Gas from Buyer or deliver Gas
to Seller, as applicable, minus any amounts of such liquidated damages or other payments received
by Buyer or Seller, as applicable, that are payable to any un-Affiliated third parties in
connection with such event.

“Delivering Transporter” means the transporter delivering Gas at a Delivery Point.

“Delivery Point” is defined in Section 6.

2

 

“Early Termination Date” is defined in Section 14.2.

“Excess Gas” means the Gas sold by Seller to third parties in the event that the Gas
anticipated by Seller to be taken by Buyer at any Delivery Point during any period is less than the
Nominated Quantity at such Delivery Point for such period.

“Excess Gas Acquisition Cost” means, for the sum of the volumes delivered at each Delivery
Point, the Third Party Acquisition Cost or the Intercompany Gas Price.

“Excess Gas Proceeds” means, for each Delivery Point, the total net sales proceeds received
by Seller from its sales to third parties of Excess Gas attributable to such Delivery Point,
determined on a commercially reasonable basis.

“Gas” means residue natural gas, and includes Excess Gas, Intercompany Gas and Third Party
Gas, as applicable.

“Intercompany Gas” means gas purchased by Seller from an Affiliate of Seller other than
Buyer, for sale and delivery to Buyer under this Agreement.

“Intercompany Gas Price” means, for each Delivery Point, the price per MMBtu paid by Seller
to an Affiliate of Seller supplying the Intercompany Gas at such Delivery Point, plus Seller’s
Adjustments.

“MMBtu” means 1,000,000 British thermal units.

“Month” shall mean the period beginning at 7:00 AM Central Standard Time (as adjusted for Central
Daylight Time) on the first day of a calendar month and ending at 6:59 AM on the last day of such
calendar month.

“Nominated Quantity” means the quantity of Gas nominated by Buyer to be delivered at the
applicable Delivery Point during the applicable period.

“Person” means any individual, corporation, partnership, limited liability company,
association, joint venture, trust, or other organization of any nature or kind.

“Seller’s Adjustments” means, for each Delivery Point, (i) all transportation costs
incurred by Seller, including pipeline tariff charges, imbalance penalties, cash-out costs and
other similar imbalance-related charges attributable to Gas and paid by Seller, (ii) any other
costs and charges reasonably incurred by Seller in connection with its purchase of Gas and (iii)
all costs and charges reasonably incurred by Seller in connection with its sale of Excess Gas.

“Taxes” means any or all ad valorem, property, occupation, severance, generation, first
use, conversion, Btu or Gas, transport, transmission, utility, gross receipts, privilege, sales,
use, consumption, excise, lease, transaction, and other taxes, governmental charges, regulatory
assessments by federal, state or local agencies or commissions (including, but not limited to, FERC
assessments), license fees, permits or assessments or increases therein, other than taxes based on
net income or net worth.

“Termination Payment” is defined in Section 14.2.

“Third Party Gas” means natural gas purchased by Seller on behalf of Buyer from an
unaffiliated third party.

“Third Party Gas Acquisition Cost” means, for each Delivery Point, the total amount paid by
Seller to suppliers of Third Party Gas delivered at such Delivery Point.

3

 

“WAAC Price” means, for each Delivery Point, a price per MMBtu for each Month equal to (i)
total Third Party Gas Acquisition Cost, plus total Seller’s Adjustments, for such Month, divided by
(ii) the total number of MMBtus of Third Party Gas delivered at such Delivery Point during such
Month.

2. Term; Termination.

     2.1 This Agreement shall commence on December 1, 2005 and shall continue in full force and
effect for a term of fifteen (15) years (the “Initial Term”). At the expiration of the Initial
Term, this Agreement shall be automatically extended for consecutive sixty (60) Month terms, unless
either Party shall have given written notice of termination to the other Party least one hundred
twenty (120) days prior to the expiration of (i) the Initial Term, or (ii) the then-current five
(5) year extension, as applicable.

     2.2 In the event that either Party ceases to be an Affiliate of Targa Resources, Inc., then
either Party may, at its sole discretion, elect to terminate this Agreement upon one hundred twenty
(120) Days notice to the other Party.

3. Quantity: Subject to the terms and conditions of this Agreement, for each Month during
the Term, Seller agrees to sell and deliver and Buyer agrees to purchase and receive one hundred
percent (100%) of Buyer’s Gas needs in connection with Buyer’s sales of Gas to industrial customers
and other third parties; provided, however, that Buyer may make occasional purchases of Gas from
un-Affiliated third parties pursuant to Buyer’s existing contracts with such parties.

4. Price:

     4.1 The price per MMBtu for all Third Party Gas delivered by Seller hereunder during each
Month shall be the applicable WAAC Price.

     4.2 Except as otherwise agreed by the parties from time to time pursuant to a written addendum
to this Agreement, the price per MMBtu for all Intercompany Gas delivered by Seller hereunder
during each Month shall be the applicable Intercompany Gas Price.

5. Excess Gas Adjustment: The amount payable to Seller under this Agreement for any Month
will be adjusted by an amount, determined for each Delivery Point, equal to the difference obtained
by subtracting (i) the Excess Gas Acquisition Cost from (ii) the Excess Gas Proceeds for such
Month. If the Excess Gas Adjustment is a positive number, the amount payable to Seller under
Section 9 below will be decreased by such amount, and if the Excess Gas Adjustment is a negative
number, the amount payable to Seller under Section 9 below will be increased by such amount.

6. Delivery Point; Transfer of Title: The delivery point (“Delivery Point”) shall be at
point(s) mutually agreed upon by the Parties. Title to the Gas shall pass from Seller to Buyer at
the Delivery Point.

7. Transportation; Nominations:

     7.1 Seller shall have the sole responsibility of delivering the Gas at the Delivery Point(s).
Buyer shall have the sole responsibility for transporting or utilization of the Gas from the
Delivery Point(s).

4

 

     7.2 Buyer will nominate the total quantity of gas (in MMBtu per day) to be delivered at the
Delivery Point during any Month, giving sufficient time to meet the applicable pipeline or
gathering company’s nomination deadline for such Month, and will also provide Seller with any other
operational information which could have a significant effect on the quantity of Gas received by
Buyer for the Month.

     7.3 In the event that (i) Seller is unable to deliver all of the Nominated Quantity during a
particular Month due to any Person’s failure to deliver Gas to Seller, and (ii) Seller receives
Damage Payments in connection with such event, Seller will pay Buyer its pro rata portion of such
Damage Payments based on the amount of nominated Gas not delivered by Seller to Buyer or other
Affiliates of Seller as a result of such event.

8. Quality; Delivery Pressure: All Gas delivered by Seller hereunder shall meet the
pressure, quality and heat content requirements applicable under the Delivering Transporter’s
tariff at the Delivery Point. The unit of quantity measurement for purposes of this Agreement
shall be one MMBtu dry. Measurement of Gas quantities hereunder shall be in accordance with the
established procedures of the Delivering Transporter.

9. Taxes, Royalties and Other Charges:

Seller is liable for and shall pay, or cause to be paid, all Taxes applicable to the purchase or
sale of Gas at a particular Delivery Point arising prior to the Delivery Points. Seller will
release, indemnify, defend and save Buyer harmless from and against all Claims for such Taxes. In
the event Buyer is required to remit such Taxes, Seller shall reimburse Buyer for such amount.
Buyer is liable for and shall pay or cause to be paid all Taxes applicable to the purchase or sale
of Gas to a particular Delivery Point arising at or after the Delivery Points. Buyer shall
release, indemnify, defend and save Seller harmless from and against all Claims for such Taxes. In
the event Seller is required to remit such Taxes, Buyer shall reimburse Seller for such amount.

10. Billing and Payments:

     10.1 On or before the fifteenth (15th) day following each Month during the Term (and for the
first Month following the expiration or termination of this Agreement), Buyer shall deliver to
Seller a statement for the preceding Month showing the daily and total volume of Gas delivered to
each Delivery Point, the applicable price for such Gas, any Replacement Gas Adjustment, and any
other amounts and adjustments due hereunder, and the total amount due from Buyer to Seller. If the
actual volume delivered is not available by such billing date, Buyer shall use an estimated volume
based on nominations. The estimated volume will then be corrected to the actual volume on the
following Month’s billing or as soon thereafter as transport information is available.

     10.2 On or before the twenty-fifth (25th) day of each Month, Buyer will pay Seller at the
notice address set forth in Section 11, in immediately available funds, for Gas delivered during
the preceding Month. In the event that either Party discovers any underpayment or overpayment,
such Party shall promptly notify the other Party, and Seller or Buyer, as applicable shall make a
payment to the other Party in the amount of any undisputed overpayment or underpayment, as
applicable, no later than thirty (30) days after receipt of such notice. The Parties agree that,
notwithstanding the provisions of this Section 10, no retroactive adjustment shall be made for any
overpayment or underpayment more than twenty-four (24) months from the date of the original payment
to which such overpayment or underpayment relates.

5

 

11. Notices:

Every notice, request, statement or bill provided for in this Agreement shall be in writing
directed to the Party to whom given, made or delivered at such Party’s address as set forth below
and as such address may be changed from time to time with written notice to the other Party.

Buyer: TARGA LOUISIANA FIELD SERVICES LLC

	 
	Notices
and Correspondence:
	 
	Targa Louisiana Field Services LLC

	1000 Louisiana, Suite 4300

	Houston, TX 77002

	Attn: Contract Administration

	Phone: (713) 584-1000

	Fax: (713) 584-1503

	 
	Operational
Matters:
	 
	Targa Louisiana Field Services LLC

	1000 Louisiana, Suite 4300

Houston, TX 77002

	Attn: Manager, Gas Control

	Phone: (713) 584-1354

	After Hours Number: (713) 584-1354

	 

	Invoices
and Statements:
	 
	1000 Louisiana, Suite 4300
	Houston, TX 77002
	Attn: Gas Plant Accounting
	Phone: (713) 584-1000
	Fax: (713) 584-1502
	 
	Duns No.: 61-094-6290
	Federal Tax ID: 20-1884884

	 
	Seller: TARGA GAS MARKETING LLC

	 
	Notices
and Correspondence:
	 
	Targa Gas Marketing LLC

	1000 Louisiana, Suite 4300

	Houston, TX 77002

	Attn: Contract Administration

	Phone: (713) 584-1000

	Fax: (713) 584-1503

	 
	Duns No.: 61-094-6290
	Federal Tax ID: 20-1884884
	 
	Wire Transfer: JP Morgan Chase
	Account #304-189839
	ABA#021-000-021

12. Title, Warranty and Indemnity:

     12.1 Seller shall have title, custody and control of the Gas and shall assume liability and
risk of loss with respect to the Gas prior to the applicable Delivery Point. Buyer shall have
title, custody and control of the Gas and shall assume liability and risk of loss with respect to
the Gas at and after the applicable Delivery Point.

     12.2 Seller warrants that it will have the right to convey and will transfer good and
merchantable title to all Gas sold hereunder and delivered by Seller to Buyer, free and clear of
all liens, encumbrances, and claims. EXCEPT AS PROVIDED IN THIS SECTION 12.2 AND IN SECTION 15.7,
SELLER DISCLAIMS ALL OTHER WARRANTIES, EXPRESS OR IMPLIED, INCLUDING ANY WARRANTY OF
MERCHANTABILITY OR OF FITNESS FOR ANY PARTICULAR PURPOSE.

6

 

     12.3 Seller shall release, indemnify, defend and hold harmless Buyer from and against all
Claims arising from or relating to the Gas prior to the Delivery Points. Buyer shall release,
indemnify, defend and hold harmless Seller from and against all Claims arising from and relating to
the Gas at and after the Delivery Points.

     12.4 Notwithstanding the other provisions of this Article 12, as between Seller and Buyer,
Seller will be liable for, and shall release, indemnify, defend and hold harmless Buyer from and
against all Claims arising from or related to the failure of Gas delivered by Seller to meet the
quality requirements of Section 8.

     12.5 EXCEPT AS OTHERWISE PROVIDED HEREIN, NEITHER PARTY SHALL BE LIABLE TO THE OTHER PARTY FOR
CONSEQUENTIAL, INCIDENTAL, PUNITIVE, EXEMPLARY OR INDIRECT DAMAGES, LOST PROFITS OR OTHER BUSINESS
INTERRUPTION DAMAGES, BY STATUTE, IN TORT OR AGREEMENT, UNDER ANY INDEMNITY PROVISION OR OTHERWISE.
IT IS THE INTENT OF THE PARTIES THAT THE LIMITATIONS HEREIN IMPOSED ON REMEDIES AND THE MEASURE OF
DAMAGES BE WITHOUT REGARD TO THE CAUSE OR CAUSES RELATED THERETO, INCLUDING THE NEGLIGENCE OF ANY
PARTY, WHETHER SUCH NEGLIGENCE BE SOLE, JOINT OR CONCURRENT, OR ACTIVE OR PASSIVE.

13. Force Majeure:

     13.1 In the event that either Party is rendered unable, by reason of an event of force
majeure, to perform, wholly or in part, any obligation or commitment set forth in this Agreement,
then upon such Party’s giving notice and full particulars of such event of force majeure, this
Agreement shall be suspended, except for the payment of monies owed hereunder, to the extent and
for the period that such ability to perform is prevented by such force majeure condition. Initial
notice may be given orally; however, written notification with reasonably full particulars of the
event or occurrence is required as soon as reasonably possible.

     13.2 The term “force majeure” as employed in this Agreement shall mean acts of God, strikes,
lockouts or industrial disputes or disturbances, civil disturbances, failure or inability to secure
or maintain capacity for purposes of transportation of gas on any pipeline system, acts of the
public enemy, wars, riots, terrorism, blockades, insurrections, freezing of wells or pipelines, or
any other cause, whether of the kind herein enumerated or otherwise, not reasonably within the
control of the Party claiming force majeure.

     13.3 Whenever force majeure or other circumstances prevent Seller from delivering all of the
Nominated Quantity during a particular Month, Seller will use commercially reasonable efforts to
deliver Gas ratably as to quantity with all other Gas that is nominated by Affiliates of Seller
that are also affected by such event.

14. Events of Default; Termination:

	 	14.1	 	It shall be an “Event of Default” if:

i. Either Party becomes insolvent, makes an assignment for the benefit of creditors,
or a receiver or trustee is appointed for the benefit of such Party’s creditors, or
a Party makes a filing for protection from creditors under any bankruptcy or
insolvency laws, or such filing is made against a Party;

7

 

ii Buyer fails to make any payment when due and such nonpayment shall have continued
for ten (10) Days or more after notice of same from Seller; or

iii Either Party fails to perform any of its material obligations hereunder and such
nonperformance shall have continued for thirty (30) Days or more after notice of
same from the other Party.

     14.2 If an Event of Default occurs and is continuing, the non-defaulting Party may, by written
notice to the defaulting Party, designate a day no earlier than the day such notice is effective as
an early termination date (“Early Termination Date”). On the Early Termination Date, all
obligations due on or after the Early Termination Date under the Agreement shall be terminated
except as provided herein. If an Early Termination Date has been designated, the non-defaulting
Party shall in good faith calculate the amount due between the parties as of the Early Termination
Date. The non-defaulting party shall notify the defaulting Party in writing of the amount due and
whether it is owed to or from the defaulting Party (the “Termination Payment”). The party owing
the Termination Payment shall pay it to the other party within two (2) Business Days after the
effective date of such notice, with interest at the Base Rate from the Early Termination Date until
paid.

In addition, the defaulting Party hereunder shall reimburse the non-defaulting Party, on demand,
for actual, reasonable out-of-pocket expenses (with interest at the Base Rate), including, without
limitation, reasonable legal fees and expenses incurred by the other Party in connection with the
enforcement of the Agreement.

If an Early Termination Date is designated, the non-defaulting party shall be entitled, in its sole
discretion, to set-off any amount payable by the non-defaulting Party or any of its Affiliates to
the defaulting Party under the Agreement or otherwise, against any amounts payable by the
defaulting Party to the non-defaulting Party or any of its Affiliates under this Agreement or
otherwise. This provision shall be in addition to any right of setoff or other right and remedies
to which any party is otherwise entitled (whether by operation of law, contract or otherwise). If
an obligation is unascertained, the non-defaulting party may in good faith estimate that obligation
and set-off in respect of the estimate, subject to the non-defaulting party accounting to the
defaulting Party when the obligation is ascertained.

8

 

15. Miscellaneous:

     15.1 Each Party agrees that it shall not disclose Confidential Information whether acquired
before or after the Effective Date, to any third party other than each Party’s officers, directors,
employees, advisors or representatives who need to know and agree to maintain the confidentiality
of the Confidential Information (collectively, “Representatives”) during the Term and for a period
of not more than three (3) years after the end of the Term. Each Party shall be responsible for
any breach of this Agreement by its Representatives. Notwithstanding anything contained in this
Section 16.1, Confidential Information may be disclosed to any governmental, judicial or regulatory
authority requiring such Confidential Information, provided that: (i) such Confidential Information
is submitted under applicable provisions if any, for confidential treatment by such governmental,
judicial or regulatory authority; (ii) prior to such disclosure, the Party who supplied the
information is given notice of the disclosure requirement so that it may take whatever action it
deems appropriate, including intervention in any proceeding and the seeking of an injunction to
prohibit such disclosure; and (iii) the Party subject to the governmental, judicial or regulatory
authority endeavors to protect the confidentiality of any Confidential Information to the extent
reasonable under the circumstances and to use its good faith efforts to prevent the further
disclosure of any Confidential Information provided to any governmental, judicial or regulatory
authority.

     15.2 This Agreement shall be binding upon and inure to the benefit of the successors and
assigns of the respective Parties hereto, and the covenants, conditions, rights and obligations of
this Agreement shall run for the full term of this Agreement. No assignment of this Agreement, in
whole or in part, will be made without the prior written consent of the non-assigning Party, which
consent will not be unreasonably withheld or delayed; provided, either Party may (i) transfer,
sell, pledge, encumber, or assign this Agreement or the accounts, revenues, or proceeds hereof in
connection with any financing or other financial arrangements, or (ii) transfer its interest to any
parent or Affiliate by assignment, merger or otherwise without the prior approval of the other
Party. Upon any such assignment, transfer and assumption, the transferor shall remain principally
liable for and shall not be relieved of or discharged from any obligations hereunder.

     15.3 The invalidity of any one or more covenants or provisions of this Agreement shall not
affect the validity of any other provisions hereof or this Agreement as a whole, and in case of any
such invalidity, this Agreement shall be construed to the maximum extent possible as if such
invalid provision had not been included herein. No waiver of any breach of this Agreement shall be
held to be a waiver of any other or subsequent breach.

     15.4 This Agreement sets forth all understandings between the Parties respecting each
transaction subject hereto, and any prior Agreements, understandings and representations, whether
oral or written, relating to such transactions are merged into and superseded by this Agreement and
any effective transaction(s). This Agreement may be amended only by a writing executed by both
Parties. Each Party shall take such acts and execute and deliver such documents as may be
reasonably required to effectuate the purposes of this Agreement.

     15.5 The interpretation and performance of this Agreement shall be governed by the laws of the
State of Texas, excluding, however, any conflict of laws rule which would apply the law of another
jurisdiction. This Agreement and all provisions herein will be subject to all applicable and valid
statutes, rules, orders and regulations of any governmental authority having jurisdiction over the
Parties, their facilities, Gas supply, this Agreement or transaction or any provisions thereof.
The Parties shall comply with all applicable laws in the performance of their respective
obligations under this Agreement.

9

 

     15.6 Each Party to this Agreement represents and warrants that it has full and complete
authority to enter into and perform this Agreement. Each person who executes this Agreement on
behalf of either Party represents and warrants that it has full and complete authority to do so and
that such Party will be bound thereby.

     15.7 The provisions of Section 14.2 and Article 12, shall survive any expiration or
termination of this Agreement.

     15.8 Nothing in this Agreement shall entitle any person other than Seller or Buyer, or their
successors or assigns, to any claim, cause of action, remedy or right of any kind relating to the
transaction(s) contemplated by this Agreement.

     15.9 In construing this Agreement, the following principles shall be followed: (i) no
consideration shall be given to the fact or presumption that one Party had a greater or lesser hand
in drafting this Agreement; (ii) examples shall not be construed to limit, expressly or by
implication, the matter they illustrate; (iii) the word “includes” and its syntactical variants
mean “includes, but is not limited to” and corresponding syntactical variant expressions; (iv) the
plural shall be deemed to include the singular and vice versa, as applicable, and (v) unless the
context otherwise requires, any reference to a statutory provision (including those contained in
subordinate legislation) is a reference to the provision as amended or re-enacted, or as modified
by other statutory provisions from time to time, and includes subsequent legislation made under the
relevant statute.

EXECUTED October 8, 2007, but effective as of December 1, 2005.

	 	 	 	 	 	 	 	 	 
	“SELLER”	 	 	 	“BUYER”
	 
	 	 	 	 	 	 	 	 
	TARGA GAS MARKETING LLC	 	 	 	TARGA LOUISIANA FIELD SERVICES LLC
	 
	 	 	 	 	 	 	 	 
	By:

	 	/s/ Stacy Duke
	 	 	 	By:
	 	/s/ Michael A. Heim
	 

	 	 

	 	 	 	 	 	 
     
	Name:

	 	Stacy Duke
	 	 	 	Name:
	 	Michael A. Heim
	 

	 	 
 
	 	 	 	 	 	 
     
	Title:

	 	Vice President
	 	 	 	Title:
	 	Executive Vice President and Chief Operating 

Officer
	 

	 	 	 	 	 	 	 	

10exv10w16

 

Exhibit
10.16

AMENDED AND RESTATED

NATURAL GAS PURCHASE AGREEMENT

By and Between

TARGA GAS MARKETING LLC

(“Buyer”)

And

TARGA LOUISIANA FIELD SERVICES LLC

(“Seller”)

Effective as of December 1, 2005

 

 

AMENDED AND RESTATED NATURAL GAS PURCHASE AGREEMENT

This Amended and Restated Natural Gas Purchase Agreement (the “Agreement”) is executed on October
___, 2007, but effective as of December 1, 2005, by and between TARGA GAS MARKETING LLC (“Buyer”)
and TARGA LOUISIANA FIELD SERVICES LLC (“Seller”) (each a “Party,” and together, the “Parties”),
and sets forth the terms and conditions pursuant to which Seller will sell to Buyer, and Buyer will
purchase from Seller, certain Gas (as hereinafter defined). This Agreement amends and restates in
its entirety that certain Natural Gas Purchase Agreement executed on February 1, 2007 and effective
as of December 1, 2005.

	1.	 	Definitions.

As used in this Agreement, the following terms shall have the following meaning:

“Affiliate” means any Person that directly or indirectly through one or more
intermediaries, controls or is controlled by or is under common control with the Person specified,
with the term “control” (including the terms “controlled by” or “under common control with”)
meaning the possession, directly or indirectly, of the power to direct or cause the direction of
the management and policies of a Person, whether through ownership, by contract, or otherwise. Any
Person shall be deemed to be an Affiliate of any specified Person if (i) such Person owns fifty
percent (50%) or more of the voting securities of the specified Person, if the specified Person
owns fifty percent (50%) or more of the voting securities of such Person, or if fifty percent (50%)
or more of the voting securities of the specified Person and such Person are under common control,
or (ii) such Person has operational control of the specified Person pursuant to an operating
agreement, management agreement or other contractual rights.

“Buyer’s Adjustments” means, for each Delivery Point, (i) all transportation costs incurred
by Buyer, including pipeline tariff charges, imbalance charges, cash-out charges and other similar
imbalance-related charges attributable to the Gas, (ii) all other costs and charges reasonably
incurred by Buyer in connection with its sale of Gas to its customers, and (iii) all cost and
charges reasonably incurred by Buyer in connection with its purchase and transportation of
Replacement Gas.

“Business Day” means any day except Saturday, Sunday or Federal Reserve Bank holidays.

“Claims” means any and all claims, liabilities, losses, damages, demands, penalties, fines,
causes of action, remediation expenses, suits, judgments, arbitration awards, court orders,
directives, injunctions, decrees or awards of any jurisdiction, and any costs and expenses related
to the same (including court costs, reasonable attorneys’ fees, and other reasonable expenses of
litigation).

“Confidential Information” means this Agreement and any other written data or information
(or an oral communication if the Party requesting confidentiality for such oral communication
promptly confirms such communication in writing) which is privileged, confidential or proprietary,
except information which (i) is a matter of public knowledge at the time of its disclosure or is
thereafter published in or otherwise ascertainable from any source available to the public without
breach of this Agreement, (ii) constitutes information which is obtained from a third party (who or
which is not an Affiliate of one of the Parties) other than by or as a result of unauthorized
disclosure, or (iii) prior to the time of disclosure had been independently developed by the
receiving Party or its Affiliates not utilizing improper means.

2

 

“Damage Payments” means all liquidated damages or other payments received by Buyer or
Seller from any Person as a result of such Person’s failure to take Gas from Buyer or deliver Gas
to Seller, as applicable, minus any amounts of such liquidated damages or other payments received
by Buyer or Seller, as applicable, that are payable to any un-Affiliated third parties in
connection with such event.

“Delivery Point” is defined in Section 6.1.

“Early Termination Date” is defined in Section 14.2(i).

“Gas” means residue natural gas, and includes Plant Gas, Third Party Gas, and Replacement
Gas, as applicable.

“Intercompany Gas” means Plant Gas sold by Seller to Buyer for sale and delivery to an
Affiliate of Buyer.

“Intercompany Gas Price” means, with respect to each Delivery Point, (a) for Plant Gas that
is designated by Buyer as Intercompany Gas for delivery beginning on the first day of any Month,
the price per MMBtu, as reported in the first publication of Inside FERC’s Gas Market
Report for such Month for the geographic location closest to such Delivery Point, less Buyer’s
Adjustments, or (b) for Plant Gas that is designated by Buyer as Intercompany Gas for delivery at
any time after the first day of any Month, the price per MMBtu, equal to the “Daily Midpoint” price
as reported in the “Daily Price Survey” of Platts’ Gas Daily for the relevant day, less
Buyer’s Adjustments. Notwithstanding the foregoing, if there is no single price published for such
day, but there is published a range of prices, then the Intercompany Gas Price for such day will be
the average of the high and low prices in that range. If no price or range of prices is published
for such day, the Intercompany Gas Price will be the be the average of the following: (i) the price
(determined as stated above) for the first day for which a price or range of prices is published
that next precedes the relevant day; and (ii) the price (determined as stated above) for the first
day for which a price or range of prices is published that next follows the relevant day.

“MMBtu” means 1,000,000 British thermal units.

“Month” shall mean the period beginning at 7:00 AM Central Standard Time (as adjusted for
Central Daylight Time) on the first day of a calendar month and ending at 6:59 AM on the last day
of such calendar month.

“Nominated Quantity” means the quantity of Plant Gas nominated by Seller or Third Party Gas
nominated by Buyer, as applicable, to be delivered at the applicable Delivery Point during the
applicable period.

“Person” means any individual, corporation, partnership, limited liability company,
association, joint venture, trust, or other organization of any nature or kind.

“Plant” or “Plants” means one or more natural gas processing plants that are now or
hereafter owned or operated by Seller, including but not limited to the plants identified on
Exhibit “A,” attached hereto and incorporated herein by reference.

“Plant Gas” means all residue gas owned or controlled by Seller that is produced from
and/or processed at the Plants and is not now or hereafter committed by Seller for sale to third
parties.

3

 

“Plant Gas Proceeds” means, for each Delivery Point, the aggregate proceeds received by
Buyer from its sales of Plant Gas delivered at such Delivery Point to Buyer’s customers, including
third parties and Affiliates of Buyer.

“Receiving Transporter” means the transporter receiving Gas at a Delivery Point.

“Replacement Gas” means, for each Delivery Point, Gas purchased by Buyer from a party other
than Seller to replace any Plant Gas for sale to Buyer’s customers or Affiliates in the event that
the quantity of Plant Gas reasonably anticipated by Buyer to be available for delivery at such
Delivery Point during any period is less than the Nominated Quantity.

“Replacement Gas Acquisition Cost” means, for each Delivery Point, the sum of (i) actual
costs paid by Buyer for Replacement Gas attributable to such Delivery Point, and (ii) Buyer’s
Adjustments attributable to such Replacement Gas.

“Replacement Gas Adjustment” is defined in Section 5.

“Replacement Gas Proceeds” means, for each Delivery Point, the aggregate proceeds received
by Buyer from its sales of Replacement Gas attributable to such Delivery Point to Buyer’s
Affiliates and third parties, less Buyer’s Adjustments.

“Seller’s Adjustments” means, for each Delivery Point, (i) all transportation costs
incurred by Seller, including pipeline tariff charges, imbalance penalties, cash-out costs and
other similar imbalance-related charges attributable to Third Party Gas and paid by Seller and (ii)
any other costs and charges reasonably incurred by Seller in connection with its purchase of Third
Party Gas.

“Third Party Gas” means natural gas purchased by Seller on behalf of Buyer from a third
party that is not an Affiliate of Targa Resources, Inc.

“Third Party Gas Acquisition Cost” means, for each Delivery Point, the total amount paid by
Seller to suppliers of Third Party Gas delivered at such Delivery Point.

“Taxes” means any or all ad valorem, property, occupation, severance, generation, first
use, conversion, Btu or Gas, transport, transmission, utility, gross receipts, privilege, sales,
use, consumption, excise, lease, transaction, and other taxes, governmental charges, regulatory
assessments by federal, state or local agencies or commissions (including, but not limited to, FERC
assessments), license fees, permits or assessments or increases therein, other than taxes based on
net income or net worth.

“Termination Payment” is defined in Section 14.2(i).

“WASP Price” means, for each Delivery Point, a price per MMBtu for each Month equal to (i)
Plant Gas Proceeds for such Month, less Buyer’s Adjustments for such Month, divided by (ii) the
total number of MMBtus of Plant Gas delivered at such Delivery Point during such Month.

“WAAC Price” means, for each Delivery Point, a price per MMBtu for each Month equal to (i)
total Third Party Gas Acquisition Cost, plus total Seller’s Adjustments, for such Month, divided by
(ii) the total number of MMBtus of Third Party Gas delivered at such Delivery Point during such
Month.

	2.	 	Term; Termination.

     2.1 This Agreement shall commence on December 1, 2005 and shall continue in full force and
effect for a term of fifteen (15) years (the “Initial Term”). At the expiration of the Initial

4

 

Term, this Agreement shall be automatically extended for consecutive sixty (60) Month terms, unless
either Party shall have given written notice of termination to the other Party least one hundred
twenty (120) days prior to the expiration of (i) the Initial Term, or (ii) the then-current five
(5) year extension, as applicable. 

     2.2 In the event that either Party ceases to be an Affiliate of Targa Resources, Inc., then
either Party may, at its sole discretion, elect to terminate this Agreement upon one hundred twenty
(120) Days notice to the other Party.

	3.	 	Quantity.

Subject to the terms and conditions of this Agreement, for each Month during the Term, Seller
agrees to sell and deliver and Buyer agrees to purchase and receive (i) all of Seller’s Plant Gas,
and (ii) the portion of the Nominated Quantity of Third Party Gas that Seller is able to obtain
using commercially reasonable efforts.

	4.	 	Price.

     4.1 The price per MMBtu for all Plant Gas delivered by Seller hereunder during each Month
(other than Intercompany Gas) shall be the applicable WASP Price for such Month.

     4.2 Except as otherwise agreed by the Parties from time to time pursuant to a written addendum
to this Agreement, the price for Intercompany Gas delivered by Seller hereunder during each Month
shall be the applicable Intercompany Gas Price for such Month.

     4.3 The price per MMBtu for all Third Party Gas delivered hereunder during each Month shall be
the applicable WAAC Price.

	5.	 	Replacement Gas Adjustment.

The amount payable to Seller under this Agreement for any Month will be adjusted by an amount,
determined for each Delivery Point, obtained by subtracting (i) the Replacement Gas Proceeds from
(ii) the Replacement Gas Acquisition Cost (the “Replacement Gas Adjustment”). If the Replacement
Gas Adjustment is a positive number, the amount payable to Seller for such Month will be decreased
by such amount, and if the Replacement Gas Adjustment is a negative number, the amount payable to
Seller will be increased by such amount.

	6.	 	Delivery Point; Transfer of Title.

The delivery point (“Delivery Point”) for Plant Gas shall be a point at or near the tailgate of
such Plant and the delivery point for Third Party Gas and Replacement Gas shall be at points
mutually agreed upon between the Parties.

	7.	 	Transportation; Nominations.

     7.1 Seller shall have the sole responsibility for delivering the Gas to the Delivery Points.
Buyer shall have the sole responsibility for transporting the Gas from the Delivery Points.

     7.2 Seller will nominate the total quantity of Plant Gas (in MMBtu per day) to be delivered to
each Delivery Point for such Plant during any Month, giving sufficient time to meet the applicable
pipeline or gathering company’s nomination deadlines for such Month, and will

5

 

also provide Buyer
with any other operational information which could have a significant effect on the quantity of
Plant Gas delivered from each Plant for the Month. Seller and Buyer will cooperate in communicating
throughout each Month regarding any changes in the quantity of Plant Gas to be delivered at each
Delivery Point. Should Seller become aware that actual deliveries at any Delivery Point on any day
will be more or less than the Nominated Quantity, Seller shall promptly notify Buyer.

     7.3 With respect to Third Party Gas, Buyer will nominate the total quantity of Third Party Gas
(in MMBtu per day) to be delivered at each Delivery Point during any Month, giving sufficient time
to meet the applicable pipeline or gathering company’s nomination deadline for such Month, and
Seller will use commercially reasonable efforts to obtain the Nominated Quantity of Third Party Gas
for delivery to Buyer.

     7.4 In the event that (i) Buyer is unable to take all of the Nominated Quantity during a
particular Month due to any Person’s failure to take Gas from Buyer, and (ii) Buyer receives Damage
Payments in connection with such event, Buyer will pay Seller its pro rata share of such Damage
Payments based on the amount of nominated Gas not taken by Buyer from Seller and any other
Affiliates of Buyer as a result of such event.

     7.5 In the event that (i) Seller is unable to deliver all of the Nominated Quantity of Third
Party Gas during a particular Month due to any Person’s failure to deliver Gas to Seller, and (ii)
Seller receives Damage Payments in connection with such event, Seller will pay Buyer such Damage
Payments.

	8.	 	Quality; Delivery Pressure.

All Gas delivered by Seller hereunder shall meet the pressure, quality and heat content
requirements of the Receiving Transporter. The unit of quantity measurement for purposes of this
Agreement shall be one MMBtu dry. Measurement of Gas quantities hereunder shall be in accordance
with the established procedures of the Receiving Transporter.

	9.	 	Taxes, Royalties and Other Charges.

Seller is liable for and shall pay, or cause to be paid, all Taxes applicable to the purchase or
sale of Gas at a particular Delivery Point arising prior to the Delivery Points. Seller will
release, indemnify, defend and save Buyer harmless from and against all Claims for such Taxes. In
the event Buyer is required to remit such Taxes, Seller shall reimburse Buyer for such amount.
Buyer is liable for and shall pay or cause to be paid all Taxes applicable to the purchase or sale
of Gas to a particular Delivery Point arising at or after the Delivery Points. Buyer shall
release, indemnify, defend and save Seller harmless from and against all Claims for such Taxes. In
the event Seller is required to remit such Taxes, Buyer shall reimburse Seller for such amount.

	10.	 	Billing and Payments.

     10.1 On or before the fifteenth (15th) day following each Month during the Term (and for the
first Month following the expiration or termination of this Agreement), Buyer shall deliver to
Seller a statement for the preceding Month showing the daily and total volume of Gas delivered to
each Delivery Point, the applicable price for such Gas, any Replacement Gas Adjustment, and any
other amounts and adjustments due hereunder, and the total amount due from Buyer to Seller. If the
actual volume delivered is not available by such billing date, Buyer shall use an estimated volume
based on nominations. The estimated volume will then be

6

 

corrected to the actual volume on the
following Month’s billing or as soon thereafter as transport information is available.

     10.2 On or before the twenty-fifth (25th) day of each Month, Buyer will pay Seller
at the notice address set forth in Section 11, in immediately available funds, for Gas delivered
during the preceding Month.  In the event that either Party discovers any underpayment or
overpayment, such Party shall promptly notify the other Party, and Seller or Buyer, as applicable
shall make a payment to the other Party in the amount of any undisputed overpayment or
underpayment, as applicable, no later than thirty (30) days after receipt of such notice. The
Parties agree that, notwithstanding the provisions of this Section 10, no retroactive adjustment
shall be made for any overpayment or underpayment more than twenty-four (24) months from the date
of the original payment to which such overpayment or underpayment relates.  

	11.	 	Notices.

Every notice, request, statement or bill provided for in this Agreement shall be in writing
directed to the Party to whom given, made or delivered at such Party’s address as set forth below
and as such address may be changed from time to time with written notice to the other Party.

	 
	Buyer: TARGA GAS MARKETING LLC
	 

	Invoices and Statements:

	 

	Targa Gas Marketing LLC

	1000 Louisiana, Suite 4300

	Houston, TX 77002

	Attn: Contract Administration

	Phone: (713) 584-1000

	Fax: (713) 584-1503

	 

	Operational Matters:

	 

	Targa Gas Marketing LLC

	1000 Louisiana, Suite 4300

	Houston, TX 77002

	Attn: Manager, Gas Scheduling

	Phone: (713) 584-1354

	After Hours Number: (713) 584-1354

	 

	Notices and Correspondence:
	 
	Targa Gas Marketing LLC
	1000 Louisiana, Suite 4300
	Houston, TX 77002
	Attn: Gas Marketing Accounting
	Phone: (713) 584-1000
	Fax: (713) 584-1100
	 
	Duns No.: 61-094-6290
	Federal Tax ID: 20-1884884
	 

	Seller: TARGA LOUISIANA FIELD SERVICES LLC
	 
	 	 
	Notices and Correspondence:
	 	 
	 
	 	 
	Targa Louisiana Field Services LLC

	 	 
	1000 Louisiana, Suite 4300

	 	
	Houston, TX 77002
	 	 
	Attn: Contract Administration
	 	 
	Phone: (713) 584-1000
	 	 
	Fax: (713) 584-1503

Duns No.: 15-389-9559
Federal Tax ID: 14-1904335
	 	 
	
Wire Transfer:
	 	 
	

JP Morgan Chase
Account #304-189839
ABA#021-000-021
	 	 
	 

	 	 
	 

	 	 

7

 

	12.	 	Title, Warranty and Indemnity.

     12.1 Seller shall have title, custody and control of the Gas and shall assume liability and
risk of loss with respect to the Gas prior to the applicable Delivery Point. Buyer shall have
title, custody and control of the Gas and shall assume liability and risk of loss with respect to
the Gas at and after the applicable Delivery Point.

     12.2 Seller warrants that it will have the right to convey and will transfer good and
merchantable title to all Gas sold hereunder and delivered by Seller to Buyer, free and clear of
all liens, encumbrances, and claims. EXCEPT AS PROVIDED IN THIS SECTION 12.2 AND IN SECTION 15.7,
SELLER DISCLAIMS ALL OTHER WARRANTIES, EXPRESS OR IMPLIED, INCLUDING ANY WARRANTY OF
MERCHANTABILITY OR OF FITNESS FOR ANY PARTICULAR PURPOSE.

     12.3 Seller shall release, indemnify, defend and hold harmless Buyer from and against all
Claims arising from or relating to the Gas prior to the Delivery Points. Buyer shall release,
indemnify, defend and hold harmless Seller from and against all Claims arising from and relating to
the Gas at and after the Delivery Points.

     12.4 Notwithstanding the other provisions of this Article 12, as between Seller and Buyer,
Seller will be liable for, and shall release, indemnify, defend and hold harmless Buyer from and
against all Claims arising from or related to the failure of Gas delivered by Seller to meet the
quality requirements of Section 8.

     12.5 EXCEPT AS OTHERWISE PROVIDED HEREIN, neither party shall be liable TO THE OTHER PARTY for
consequential, incidental, punitive, exemplary or indirect damages, lost profits or other business
interruption damages, by statute, in tort or Agreement, under any indemnity provision or otherwise.
it is the intent of the parties that the limitations herein imposed on remedies and the measure of
damages be without regard to the cause or causes related thereto, including the negligence of any
party, whether such negligence be sole, joint or concurrent, or active or passive.

	13.	 	Force Majeure.

     13.1 In the event that either Party is rendered unable, by reason of an event of force
majeure, to perform, wholly or in part, any obligation or commitment set forth in this Agreement,
then upon such Party’s giving notice and full particulars of such event of force majeure, this
Agreement shall be suspended, except for the payment of monies owed hereunder, to the extent
and for the period that such ability to perform is prevented by such force majeure condition.
Initial notice may be given orally; however, written notification with reasonably full particulars
of the event or occurrence is required as soon as reasonably possible.

     13.2 The term “force majeure” as employed in this Agreement shall mean acts of God,
strikes, lockouts or industrial disputes or disturbances, civil disturbances, failure or inability
to secure or maintain capacity for purposes of transportation of gas on any pipeline system, acts
of the public enemy, wars, riots, terrorism, blockades, insurrections, freezing of wells or
pipelines,

8

 

or any other cause, whether of the kind herein enumerated or otherwise, not reasonably
within the control of the Party claiming force majeure. 

     13.3 Whenever a force majeure event or other circumstances prevent Buyer from taking delivery
of all of the Nominated Quantity during a particular Month, Buyer will use commercially reasonable
efforts to take Seller’s Plant Gas and Third Party Gas ratably as to quantity with all other Gas
that is nominated by Affiliates of Buyer that are also affected by such event.

	14.	 	Events of Default; Termination.

     14.1 It shall be an “Event of Default” if:

i. Either Party becomes insolvent, makes an assignment for the benefit of
creditors, or a receiver or trustee is appointed for the benefit of such Party’s
creditors, or a Party makes a filing for protection from creditors under any
bankruptcy or insolvency laws, or such filing is made against a Party;

ii. Buyer fails to make any payment when due and such nonpayment shall have
continued for ten (10) Days or more after notice of same from Seller; or

iii. Either Party fails to perform any of its material obligations hereunder and
such nonperformance shall have continued for thirty (30) Days or more after notice
of same from the other Party.

     14.2 If an Event of Default occurs and is continuing, the non-defaulting Party may, by written
notice to the defaulting Party, designate a day no earlier than the day such notice is effective as
an early termination date (“Early Termination Date”). On the Early Termination Date, all
obligations due on or after the Early Termination Date under the Agreement shall be terminated
except as provided herein. If an Early Termination Date has been designated, the non-defaulting
Party shall in good faith calculate the amount due between the parties as of the Early Termination
Date. The non-defaulting party shall notify the defaulting Party in writing of the amount due and
whether it is owed to or from the defaulting Party (the “Termination Payment”). The party owing
the Termination Payment shall pay it to the other party within two (2) Business Days after the
effective date of such notice, with interest at the Base Rate from the Early Termination Date until
paid.

In addition, the defaulting Party hereunder shall reimburse the non-defaulting Party, on demand,
for actual, reasonable out-of-pocket expenses (with interest at the Base Rate), including, without
limitation, reasonable legal fees and expenses incurred by the other Party in connection with the
enforcement of the Agreement.

If an Early Termination Date is designated, the non-defaulting party shall be entitled, in its sole
discretion, to set-off any amount payable by the non-defaulting Party or any of its Affiliates to
the defaulting Party under the Agreement or otherwise, against any amounts payable by the
defaulting Party to the non-defaulting Party or any of its Affiliates under this Agreement or
otherwise. This provision shall be in addition to any right of setoff or other right and remedies
to which any party is otherwise entitled (whether by operation of law, contract or otherwise). If
an obligation is unascertained, the non-defaulting party may in good faith estimate that obligation
and set-off in respect of the estimate, subject to the non-defaulting party accounting to the
defaulting Party when the obligation is ascertained.

9

 

	15.	 	Miscellaneous.

     15.1 Each Party agrees that it shall not disclose Confidential Information whether acquired
before or after the Effective Date, to any third party other than each Party’s officers, directors,
employees, advisors or representatives who need to know and agree to maintain the confidentiality
of the Confidential Information (collectively, “Representatives”) during the Term and for a period
of not more than three (3) years after the end of the Term. Each Party shall be responsible for
any breach of this Agreement by its Representatives. Notwithstanding anything contained in this
Section 16.1, Confidential Information may be disclosed to any governmental, judicial or regulatory
authority requiring such Confidential Information, provided that: (i) such Confidential Information
is submitted under applicable provisions if any, for confidential treatment by such governmental,
judicial or regulatory authority; (ii) prior to such disclosure, the Party who supplied the
information is given notice of the disclosure requirement so that it may take whatever action it
deems appropriate, including intervention in any proceeding and the seeking of an injunction to
prohibit such disclosure; and (iii) the Party subject to the governmental, judicial or regulatory
authority endeavors to protect the confidentiality of any Confidential Information to the extent
reasonable under the circumstances and to use its good faith efforts to prevent the further
disclosure of any Confidential Information provided to any governmental, judicial or regulatory
authority.

     15.2 This Agreement shall be binding upon and inure to the benefit of the successors and
assigns of the respective Parties hereto, and the covenants, conditions, rights and obligations of
this Agreement shall run for the full term of this Agreement. No assignment of this Agreement, in
whole or in part, will be made without the prior written consent of the non-assigning Party, which
consent will not be unreasonably withheld or delayed; provided, either Party may (i) transfer,
sell, pledge, encumber, or assign this Agreement or the accounts, revenues, or proceeds hereof in
connection with any financing or other financial arrangements, or (ii) transfer its interest to any
parent or Affiliate by assignment, merger or otherwise without the prior approval of the other
Party. Upon any such assignment, transfer and assumption, the transferor shall remain principally
liable for and shall not be relieved of or discharged from any obligations hereunder.

     15.3 The invalidity of any one or more covenants or provisions of this Agreement shall not
affect the validity of any other provisions hereof or this Agreement as a whole, and in case of any
such invalidity, this Agreement shall be construed to the maximum extent possible as if such
invalid provision had not been included herein. No waiver of any breach of this Agreement shall be
held to be a waiver of any other or subsequent breach.

     15.4 This Agreement sets forth all understandings between the Parties respecting each
transaction subject hereto, and any prior Agreements, understandings and representations, whether
oral or written, relating to such transactions are merged into and
superseded by this Agreement and any effective transaction(s). This Agreement may be amended
only by a writing executed by both Parties. Each Party shall take such acts and execute and
deliver such documents as may be reasonably required to effectuate the purposes of this Agreement.

     15.5 The interpretation and performance of this Agreement shall be governed by the laws of the
State of Texas, excluding, however, any conflict of laws rule which would apply the law of another
jurisdiction. This Agreement and all provisions herein will be subject to all applicable and valid
statutes, rules, orders and regulations of any governmental authority having jurisdiction over the
Parties, their facilities, Gas supply, this Agreement or transaction or any

10

 

provisions thereof.
The Parties shall comply with all applicable laws in the performance of their respective
obligations under this Agreement.

     15.6 Each Party to this Agreement represents and warrants that it has full and complete
authority to enter into and perform this Agreement. Each person who executes this Agreement on
behalf of either Party represents and warrants that it has full and complete authority to do so and
that such Party will be bound thereby.

     15.7 The provisions of Section 14.2 and Article 12, shall survive any expiration or
termination of this Agreement.

     15.8 Nothing in this Agreement shall entitle any person other than Seller or Buyer, or their
successors or assigns, to any claim, cause of action, remedy or right of any kind relating to the
transaction(s) contemplated by this Agreement.

     15.9 In construing this Agreement, the following principles shall be followed: (i) no
consideration shall be given to the fact or presumption that one Party had a greater or lesser hand
in drafting this Agreement; (ii) examples shall not be construed to limit, expressly or by
implication, the matter they illustrate; (iii) the word “includes” and its syntactical variants
mean “includes, but is not limited to” and corresponding syntactical variant expressions; (iv) the
plural shall be deemed to include the singular and vice versa, as applicable, and (v) unless the
context otherwise requires, any reference to a statutory provision (including those contained in
subordinate legislation) is a reference to the provision as amended or re-enacted, or as modified
by other statutory provisions from time to time, and includes subsequent legislation made under the
relevant statute.

[Signature Page Follows]

11

 

EXECUTED October 8, 2007, but effective December 1, 2005.

	 	 	 	 	 	 	 	 	 	 	 
	“BUYER”	 	 	 	“SELLER”	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	TARGA GAS MARKETING LLC	 	 	 	TARGA LOUISIANA FIELD SERVICES LLC	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 
	By: 

Name:

	 	/s/ Stacy Duke
 

Stacy Duke
	 	 
	 	By:

Name:
	 	/s/ Michael Heim
 

Michael A. Heim
	 	 
	 
	Title:

	 	Vice President
	 	 	 	Title:
	 	Executive Vice President & Chief
Operating Officer	 	 

12

 

EXHIBIT “A”

To Natural Gas Purchase Agreement

Between Targa Gas Marketing LLC, Buyer

And

Targa Louisiana Field services LLC, Seller

Effective as of December 1, 2005

Plants:

Gillis

Acadia

A-13

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00130-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00130-of-00352.parquet"}]]