Document:

EX-10.6

 Exhibit 10.6 

CERTAIN MATERIAL (INDICATED BY THREE ASTERISKS) HAS BEEN OMITTED FROM THIS DOCUMENT PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT. THE OMITTED MATERIAL HAS
BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION. 
  
 

 
 PHILLIPS 66 COMPANY 

COMMERCIAL OPERATIONS & STRATEGY 

P. O. BOX 4428 
 HOUSTON,
TEXAS 77210 
 281-293-4000 

CRUDE OIL OUTRIGHT PURCHASE AGREEMENT 

AGREEMENT DATE: DECEMBER 21, 2009 
  

			
	SANTA MARIA ENERGY LLC	  	PHILLIPS 66 NEGOTIATOR: Dorene Ruiz
	DEPT: CRUDE OIL TRADING ACCOUNTING	  	BUSINESS PHONE NUMBER: 661-281-1154
	P.O. BOX 7202	  	PHILLIPS 66 SCHEDULER(S):
	SANTA MARIA, CALIFORNIA 93456	  	Tim Barta                     832-765-3030

 ATTN: Kevin Yung 

PHONE: 805-621-5610 
 Fax: 805-938-3340 

 

	
	 PHILLIPS 66 CONTRACT NO. 72744

SANTA MARIA ENERGY CONTRACT NO.

AMENDMENT NO. 5

 Please refer to the above referenced contract and amendments thereto, if any. This confirms the understanding between Kevin
Yung of SANTA MARIA ENERGY and Dorene Ruiz of PHILLIPS 66, that by mutual consent between the parties said contract shall be amended as follows: 

ITEMS AMENDED: 

 

Price renegotiation. Eff. 03/01/2013. PRoberts 

SPECIAL PROVISIONS 
 PHILLIPS 66
RECEIVES FROM SANTA MARIA ENERGY 
 TERM: 

Effective March 1, 2013 to March 1, 2014 and continuing from month to month thereafter until the first day of the month following
sixty (60) days’ advance written notice of termination or cancellation by either party to the other party. 
 QUANTITY AND QUALITY: 

A volume of Careaga crude oil representing SANTA MARIA ENERGY’s owned and/or controlled interest in production from the leases listed on
attached Exhibit A (approximately 50 barrels per day). 
 DELIVERY: 

Into third party designated trucks at the lease. 

PRICE: 
  

	***	Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

 Average of Chevron Products Company for Midway Sunset, ExxonMobil Corporation for Midway Sunset,
Shell Trading (US) Company (STUSCO) for Midway Sunset and Union 76 for Midway Sunset in effect for the month of delivery, adjusted for actual gravity delivered; 

Less $[***] U.S. per barrel market differential; and 

Less $[***] U.S. per barrel quality differential. 

SPECIAL PROVISIONS (Other): 
 IMBALANCE: 

SANTA MARIA ENERGY warrants that the barrels sold herein are an outright purchase by PHILLIPS 66. PHILLIPS 66 is under no obligation, express or implied, to
exchange, sell, or in any way pay back barrels to SANTA MARIA ENERGY as a condition of this purchase. 
 GENERAL TERMS AND CONDITIONS: 

Quantity and quality determinations shall be made in accordance with ConocoPhillips Company’s January 1, 2011 Quantity and Quality Determination
Guidelines (the “Measurement Guidelines”). ConocoPhillips Company’s General Provisions for Domestic Crude Oil Agreements, issued as of January 1, 1993, and amended as of August 1, 2009 (the “General Provisions”)
shall apply to this Agreement. The specific terms set forth in this Confirmation (the “Special Provisions”), the General Provisions and the Measurement Guidelines contain the entire Agreement of the parties with respect to the transaction
or transactions described in the Special Provisions; no other promises, representations or warranties have been made by Seller or Buyer. Any amendment to this Agreement must be written and manually or electronically signed on behalf of the party
against which such amendment is sought to be enforced. In the event of a conflict between the Measurement Guidelines and the General Provisions and/or these Special Provisions, the Measurement Guidelines shall govern unless specifically identified
and negated in these Special Provisions. In the event of a conflict between the General Provisions and these Special Provisions, these Special Provisions shall govern. 

LIMITATION OF LIABILITY 
 In no event shall either party be
liable for loss of profits or indirect, special, exemplary, punitive, or consequential damages. 
 Privileged and Confidential Transactions: 

Our traders from time to time agree to keep with counterparties, details of transaction proprietary and confidential. In order to insure that there is a clear
understanding of the parties’ obligations, please note that our understanding of this term is that if a transaction is agreed to be “proprietary and confidential” or “P&C”, this means that neither party will disclose the
details of the transaction to any third party other than to (i) governmental agencies, or (ii) price reporting agencies. If details are disclosed to price reporting agencies, the identity of the counterparty shall be kept confidential.

  

			
	INVOICES TO:	  	NOTICES TO:
		
	COMMENTS:	  	
		
	Phillips 66 Company	  	Phillips 66 Company
	Attn: Crude Oil Trading Accounting	  	Attn: Contract Administration
	 P.O.B. Building - 12th Floor
 315 South
Johnstone Ave.
	  	 Cherokee Building - Third Floor
 P. O. Box
4428

	1270 Plaza Office Building	  	
	Bartlesville, Oklahoma 74004	  	Houston, Texas 77210
	Fax: 918-661-4243	  	Fax: 918-977-8038
		
		  	Santa Maria Energy LLC
		  	Attn: Kevin Yung
		  	P.O. Box 7202
		  	Santa Maria, California 93456
		  	Fax: 805-938-3340

  

	***	Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

  
 Page 2 of 4 

 Please advise us of any errors in the foregoing as soon as practical. If we do not receive any contrary
indication from you before the earlier of our commencement of performance or the expiration of two (2) business days from the date of this confirmation, then we will assume that this confirmation correctly reflects the agreement of the parties.
Please be advised that while we are willing to correct errors in the foregoing, Phillips 66 Company will not accept any terms in addition to or inconsistent with the foregoing that you may propose in any confirmation or notice with respect to this
agreement. 
 As used in this Agreement, references to “ConocoPhillips”, “ConocoPhillips Company”, “COP” and/or
“CPCo” are intended to refer to Phillips 66 Company except when such references describe a price posting or General Terms & Conditions. 

REGARDS, 
 PHILLIPS 66 COMPANY 

Dorene Ruiz 
 Lease Director 

Commercial Operations & Strategy 
 Bakersfield,
California 
 Fax: 661-281-1158 

  

	***	Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

  
 Page 3 of 4 

 EXHIBIT A 
  

									
	 HLCO NO / LEASE NAME
	 	 FACILITY NO / NAME
	 	 EFFECTIVE FROM / TO
	 	 OPERATOR / STATE / COUNTY
	 	 DEC OF INT

	 0009122900        00050

CAREAGA DIATOMITE
	 	 2477610
 CAREAGA DIATOMITE
	 	December 1, 2009	 	 WEST COAST THIRD PARTY OPE
 CA/Alameda
	 	1.0000000
					
	 0009111800        00050

CAREAGA/STA MARIA PACIFIC
	 	 2445521

CAREAGA/STA MARIA PACIFIC
	 	June 1, 2011	 	 WEST COAST THIRD PARTY OPE
 CA/Alameda
	 	1.0000000
					
	 0009084900        00050

SANTA MARIA AREA LEASES
	 	 2134090
 SANTA MARIA AREA LEASES
	 	 January 1, 2010
 April 1, 2010
	 	 WEST COAST THIRD PARTY OPE
 CA/Alameda
	 	1.0000000

  

	***	Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

  
 Page 4 of 4EX-10.7

 Exhibit 10.7 

CERTAIN MATERIAL (INDICATED BY THREE ASTERISKS) HAS BEEN OMITTED FROM THIS DOCUMENT PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT. THE OMITTED MATERIAL HAS
BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION. 
  
 

 
 PHILLIPS 66 COMPANY 

COMMERCIAL OPERATIONS & STRATEGY 

P. O. BOX 4428 
 HOUSTON,
TEXAS 77210 
 281-293-4000 

CRUDE OIL OUTRIGHT PURCHASE AGREEMENT 

AGREEMENT DATE: SEPTEMBER 30, 2011 
  

					
	SANTA MARIA ENERGY LLC	  	PHILLIPS 66 NEGOTIATOR: Dorene Ruiz
	DEPT: CRUDE OIL TRADING ACCOUNTING	  	BUSINESS PHONE NUMBER: 661-281-1154
	P.O. BOX 7202	  	PHILLIPS 66 SCHEDULER(S):
	SANTA MARIA, CALIFORNIA 93456	  	Tim Barta	  	832-765-3030

  

	
	 ATTN: Kevin Yung

	 PHONE: 805-621-5610

	 Fax: 805-938-3340

  

PHILLIPS 66 CONTRACT NO. 81056 

SANTA MARIA ENERGY CONTRACT NO. 

AMENDMENT NO. 3 

Please refer to the above referenced contract and amendments thereto, if any. This confirms the understanding between Kevin Yung of SANTA MARIA ENERGY and
Dorene Ruiz of PHILLIPS 66, that by mutual consent between the parties said contract shall be amended as follows: 
 ITEMS AMENDED:

  

Re-activating lease to go to Santa Paula. Eff. 05/01/2013. PRoberts 

SPECIAL PROVISIONS 
 PHILLIPS 66
RECEIVES FROM SANTA MARIA ENERGY 
 TERM: 

Effective May 1, 2013 to June 1, 2013 and continuing from month to month thereafter until the first day of the month following
thirty (30) days’ advance written notice of termination or cancellation by either party to the other party. 
 QUANTITY AND QUALITY: 

A volume of Careaga crude oil representing SANTA MARIA ENERGY’s owned and/or controlled interest in production from the leases listed on
attached Exhibit A (approximately 200 barrels per day). 
 DELIVERY: 

Into third party designated trucks at the lease. 

PRICE: 
  

	***	Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

 Average of ChevronTexaco for Buena Vista Hills, ExxonMobil Corporation for Buena Vista, Shell
Trading (US) Company (STUSCO) for Buena Vista and Union 76 for Buena Vista Hills in effect for the month of delivery, adjusted for actual gravity delivered; 

Less $[***] U.S. per barrel market differential. 
  

SPECIAL PROVISIONS (Other): 
 IMBALANCE: 

SANTA MARIA ENERGY warrants that the barrels sold herein are an outright purchase by PHILLIPS 66. PHILLIPS 66 is under no obligation, express or implied, to
exchange, sell, or in any way pay back barrels to SANTA MARIA ENERGY as a condition of this purchase. 
 GENERAL TERMS AND CONDITIONS: 

Quantity and quality determinations shall be made in accordance with ConocoPhillips Company’s January 1, 2011 Quantity and Quality Determination
Guidelines (the “Measurement Guidelines”). ConocoPhillips Company’s General Provisions for Domestic Crude Oil Agreements, issued as of January 1, 1993, and amended as of August 1, 2009 (the “General Provisions”)
shall apply to this Agreement. The specific terms set forth in this Confirmation (the “Special Provisions”), the General Provisions and the Measurement Guidelines contain the entire Agreement of the parties with respect to the transaction
or transactions described in the Special Provisions; no other promises, representations or warranties have been made by Seller or Buyer. Any amendment to this Agreement must be written and manually or electronically signed on behalf of the party
against which such amendment is sought to be enforced. In the event of a conflict between the Measurement Guidelines and the General Provisions and/or these Special Provisions, the Measurement Guidelines shall govern unless specifically identified
and negated in these Special Provisions. In the event of a conflict between the General Provisions and these Special Provisions, these Special Provisions shall govern. 

LIMITATION OF LIABILITY 
 In no event shall either party be
liable for loss of profits or indirect, special, exemplary, punitive, or consequential damages. 
 Privileged and Confidential Transactions: 

Our traders from time to time agree to keep with counterparties, details of transaction proprietary and confidential. In order to insure that there is a clear
understanding of the parties’ obligations, please note that our understanding of this term is that if a transaction is agreed to be “proprietary and confidential” or “P&C”, this means that neither party will disclose the
details of the transaction to any third party other than to (i) governmental agencies, or (ii) price reporting agencies. If details are disclosed to price reporting agencies, the identity of the counterparty shall be kept confidential.

 Phillips 66 Company will not be bound to any terms or conditions to which it has not specifically agreed, either orally or in writing. 

 

			
	INVOICES TO:	  	NOTICES TO:
		
	COMMENTS:	  	
		
	Phillips 66 Company	  	Phillips 66 Company
	Attn: Crude Oil Trading Accounting	  	Attn: Contract Administration
	 P.O.B. Building - 12th Floor
 411 S. Keeler
St.
 6th Flr Adams Bldg
	  	 Cherokee Building - Third Floor
 P. O. Box
4428

	Bartlesville, Oklahoma 74003	  	Houston, Texas 77210
	 Fax: 918-661-4243
 Email:
RSCCrudeVesselInvoices@P66.com
	  	Fax: 918-977-8038
		  	 Santa Maria Energy LLC
 Attn: Kevin Yung

P.O. Box 7202
 Santa Maria, California 93456

Fax: 805-938-3340

  

	***	Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

  
 Page 2 of 4 

 Please advise us of any errors in the foregoing as soon as practical. If we do not receive any contrary
indication from you before the earlier of our commencement of performance or the expiration of two (2) business days from the date of this confirmation, then we will assume that this confirmation correctly reflects the agreement of the parties.
Please be advised that while we are willing to correct errors in the foregoing, Phillips 66 Company will not accept any terms in addition to or inconsistent with the foregoing that you may propose in any confirmation or notice with respect to this
agreement. 
 As used in this Agreement, references to “ConocoPhillips”, “ConocoPhillips Company”, “COP” and/or
“CPCo” are intended to refer to Phillips 66 Company except when such references describe a price posting or General Terms & Conditions. 

REGARDS, 
 PHILLIPS 66 COMPANY 

Dorene Ruiz 
 Lease Director 

Commercial Operations & Strategy 
 Bakersfield,
California 
 Fax: 661-281-1158 

  

	***	Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

  
 Page 3 of 4 

 EXHIBIT A 
  

									
	 HLCO NO / LEASE NAME
	 	 FACILITY NO / NAME
	 	 EFFECTIVE FROM / TO
	 	 OPERATOR / STATE / COUNTY
	 	 DEC OF INT

	*** See Note 1. ***	 		 		 		 	
	 0009109700     00050

CAREAGA/PHOENIX
	 	 2429779
 CAREAGA/PHOENIX
	 	May 1, 2013	 	 WEST COAST THIRD PARTY OPE
 CA/Alameda
	 	1.0000000
					
	 0009129600     00050

CAREAGA/PHOENIX-S MARIA
	 	 2508332
 CAREAGA/PHOENIX-S MARIA
	 	March 1, 2013	 	 WEST COAST THIRD PARTY OPE
 CA/Alameda
	 	1.0000000

 Notes: 
  

	1.	Lease added effective May 1, 2013. 

  

	***	Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

  
 Page 4 of 4

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