Document:

EX-10.6

 Exhibit 10.6 

REGISTRATION RIGHTS AGREEMENT 

This Registration Rights Agreement (this “Agreement”) is made and entered into as of December 30, 2016, among
EnVen Energy Corporation, a Delaware corporation (together with any successor entity thereto, the “Company”), each of the Persons identified on Exhibit A (the “Initial Investors”) and the other
investors listed on the signature page hereto (the “Additional Investors” and, together with the Initial Investors, the “Investors”). 

This Agreement is made pursuant to the Securities Purchase Agreement (the “Purchase Agreement”), dated
December 11, 2016, between the Company and the Investors in connection with the purchase and sale or placement of an aggregate of 9,867,930 shares of Series A Preferred Stock of the Company, par value $0.001 per share (the “Preferred
Stock”), which are convertible into shares of Class A common stock of the Company, par value $0.001 per share (“Class A Common Stock”), pursuant to the terms of the Purchase
Agreement and the Certificate of Designation of the Company relating to the Preferred Stock. In order to induce the Investors to enter the Purchase Agreement, the Company has agreed to provide the registration rights provided for in this Agreement
to the Investors and their respective direct and indirect transferees. The execution of this Agreement is a condition to the closing of the issuance and sale of the Preferred Stock contemplated by the Purchase Agreement. 

The parties hereby agree as follows: 
  

	1.	 Definitions 

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

Additional Investors: As defined in the preamble. 

Affiliate: As to any specified Person, as defined in Rule 12b-2 promulgated under the Exchange
Act. 
 Agreement: As defined in the preamble. 

Board of Directors: As defined in Section 5(a) hereof. 

Business Day: With respect to any act to be performed hereunder, each Monday, Tuesday, Wednesday, Thursday and Friday that is not a day
on which banking institutions in New York, New York or other applicable places where such act is to occur are authorized or obligated by applicable law, regulation or executive order to close. 

Bylaws: The Amended and Restated Bylaws of the Company, dated on or about the date hereof. 

Certificate of Incorporation: The Certificate of Incorporation of the Company, dated as of November 4, 2015, as amended from time
to time. 
 Commission: The Securities and Exchange Commission. 

  
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 Class A Common Stock: As defined in the preamble. 

Company: As defined in the preamble. 

Controlling Person: As defined in Section 6(a) hereof.  

End of Suspension Notice: As defined in Section 5(b) hereof. 

Exchange Act: The Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated by the Commission pursuant
thereto. 
 FINRA: The Financial Industry Regulatory Authority, formerly the National Association of Securities Dealers, Inc. 

Holder: Each record owner of any Registrable Shares from time to time.  

Indemnified Party: As defined in Section 6(c) hereof. 

Indemnifying Party: As defined in Section 6(c) hereof.  

Initial Investors: As defined in the preamble. 

Initial Notice: As defined in Section 2(a) hereof.  

Investors: As defined in the preamble. 

IPO Registration Statement: As defined in the Prior Registration Rights Agreement. 

Issuer Free Writing Prospectus: As defined in Section 2(c) hereof. 

JOBS Act: The Jumpstart Our Business Startups Act, as amended, and the rules and regulations promulgated by the Commission thereunder.

 Liabilities: As defined in Section 6(a) hereof. 

No Objections Letter: As defined in Section 5(s) hereof. 

Person: An individual, partnership, corporation, limited liability company, trust, unincorporated organization, government or agency or
political subdivision thereof, or any other legal entity. 
 Preferred Stock: As defined in the preamble. 

Prior 144A Registrable Shares: Has the meaning assigned to the defined term “Registrable Shares” in the Prior 144A
Registration Rights Agreement. 
 Prior 144A Registration Rights Agreement: That certain Registration Rights Agreement, dated as of
November 6, 2015, by and among the Company, the shareholders set forth on the signature pages thereto and FBR Capital Markets & Co., as amended from time to time. 

  
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 Prior Equity Holdings Registrable Shares: Has the meaning assigned to the defined
term “Registrable Shares” in the Prior Equity Holdings Registration Rights Agreement.  
 Prior Equity Holdings
Registration Rights Agreement: That certain Registration Rights Agreement, dated as of November 6, 2015, by and between the Company and EnVen Equity Holdings LLC, as amended from time to time. 

Proceeding: An action (including a class action), claim, suit or proceeding (including without limitation, an investigation or partial
proceeding, such as a deposition), whether commenced or, to the knowledge of the Person subject thereto, threatened. 
 Prospectus:
The prospectus included in any Registration Statement, including any preliminary prospectus at the “time of sale” within the meaning of Rule 159 under the Securities Act and all other amendments and supplements to any such prospectus,
including post-effective amendments, and all material incorporated by reference or deemed to be incorporated by reference, if any, in such prospectus. 

Purchase Agreement: As defined in the preamble.  

Purchaser Indemnitee: As defined in Section 6(a) hereof. 

Registrable Shares: The shares of Class A Common Stock upon original issuance to the Holder which would be held by the Holder upon
conversion of shares of Preferred Stock into shares of Class A Common Stock, and at all times subsequent thereto, including upon the transfer thereof by the original holder or any subsequent holder and any shares or other securities issued in
respect of such Registrable Shares by reason of or in connection with any stock dividend, stock distribution, stock split, purchase in any rights offering or in connection with any exchange for or replacement of such Registrable Shares or any
combination of shares, recapitalization, merger or consolidation, or any other equity securities issued pursuant to any other pro rata distribution with respect to the Shares, until the earliest to occur of (i) the date on which the resale of
such share has been registered pursuant to the Securities Act and it has been disposed of in accordance with the Registration Statement relating to it, (ii) the date on which such shares either have been transferred pursuant to Rule 144 (or any
similar provision then in effect) or are freely saleable, without condition pursuant to Rule 144, including any current public information requirements or (iii) the date on which such shares are sold to the Company. 

Registration Expenses: Any and all fees and expenses incident to the performance of or compliance with this Agreement,
including, without limitation: (i) all Commission, securities exchange, FINRA or other registration, listing, inclusion and filing fees; (ii) all fees and expenses incurred in connection with compliance with international, federal or state
securities or blue sky laws (including, without limitation, any registration, listing and filing fees and fees and disbursements of counsel in connection with blue sky qualification of any of the Registrable Shares and the preparation of a blue sky
memorandum and compliance with the rules of FINRA); (iii) all expenses in preparing or assisting in preparing, word processing, duplicating, printing, delivering and distributing any Registration Statement, any Prospectus, any amendments or
supplements thereto, any underwriting agreements, securities sales agreements, certificates and any other documents relating to the performance under and compliance with this Agreement; 

  
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(iv) all fees and expenses incurred in connection with the listing or inclusion of any of the Registrable Shares on any securities exchange pursuant to Section 4(m) of this Agreement;
(v) the fees and disbursements of counsel for the Company and of the independent registered public accounting firm of the Company (including, without limitation, the expenses of any special audit and “cold comfort” letters required by
or incident to the performance of this Agreement); (vi) in the case of an Underwritten Offering, reasonable fees and disbursements of one nationally-recognized securities law counsel reasonably acceptable to the Company, with respect to a review of
the Registration Statement and other offering arrangements solely with respect to the Holders (such counsel, “Review Counsel,” it being understood that such Review Counsel shall not be deemed to representing one or
more Holders unless such firm and such Holder or Holders so agree in writing); provided, however, that Holders holding a majority of the Registrable Shares (or, in the case of an Underwritten Offering in which Holders elect to sell
Registrable Shares, Holders holding a majority of the Registrable Shares held by the Holders who have elected to sell Registrable Shares in such Underwritten Offering) may object to the appointment of such nationally-recognized securities law
counsel as Review Counsel and appoint a new Review Counsel; provided, however, that if Holders electing to sell Registrable Shares in an Underwritten Offering object to the appointment of such nationally-recognized securities law counsel as
Review Counsel and appoint a new Review Counsel, such objection and appointment shall only be applicable to such Underwritten Offering; and (vii) any fees and disbursements customarily paid in issues and sales of securities (including the fees
and expenses of any experts retained by the Company in connection with any Registration Statement); provided, however, that Registration Expenses shall exclude brokers’ or underwriters’ discounts, commissions and placement fees, if
any, relating to the sale or disposition of Registrable Shares by a Holder. 
 Registration Statement: Any registration statement of
the Company that covers the resale of Registrable Shares pursuant to the provisions of this Agreement, including the Prospectus, amendments and supplements to such registration statement or Prospectus, including
pre- and post-effective amendments, all exhibits thereto and all material incorporated by reference or deemed to be incorporated by reference, if any, in such registration statement. 

Review Counsel: As defined in paragraph (vi) of the definition for Registration Expenses.  

Rule 144: Rule 144 promulgated by the Commission pursuant to the Securities Act, as such rule may be amended from time to time, or any
similar rule or regulation hereafter adopted by the Commission as a replacement thereto having substantially the same effect as such rule. 

Rule 144A: Rule 144A promulgated by the Commission pursuant to the Securities Act, as such rule may be amended from time to time, or
any similar rule or regulation hereafter adopted by the Commission as a replacement thereto having substantially the same effect as such rule. 

Rule 158: Rule 158 promulgated by the Commission pursuant to the Securities Act, as such rule may be amended from time to time, or any
similar rule or regulation hereafter adopted by the Commission as a replacement thereto having substantially the same effect as such rule. 

Rule 159: Rule 159 promulgated by the Commission pursuant to the Securities Act, as such rule may be amended from time to time, or any
similar rule or regulation hereafter adopted by the Commission as a replacement thereto having substantially the same effect as such rule. 

  
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 Rule 405: Rule 405 promulgated by the Commission pursuant to the Securities Act, as
such rule may be amended from time to time, or any similar rule or regulation hereafter adopted by the Commission as a replacement thereto having substantially the same effect as such rule. 

Rule 415: Rule 415 promulgated by the Commission pursuant to the Securities Act, as such rule may be amended from time to time, or any
similar rule or regulation hereafter adopted by the Commission as a replacement thereto having substantially the same effect as such rule. 

Rule 424: Rule 424 promulgated by the Commission pursuant to the Securities Act, as such rule may be amended from time to time, or any
similar rule or regulation hereafter adopted by the Commission as a replacement thereto having substantially the same effect as such rule. 

Rule 429: Rule 429 promulgated by the Commission pursuant to the Securities Act, as such rule may be amended from time to time, or any
similar rule or regulation hereafter adopted by the Commission as a replacement thereto having substantially the same effect as such rule. 

Rule 433: Rule 433 promulgated by the Commission pursuant to the Securities Act, as such rule may be amended from time to time, or any
similar rule or regulation hereafter adopted by the Commission as a replacement thereto having substantially the same effect as such rule. 

Securities Act: The Securities Act of 1933, as amended, and the rules and regulations promulgated by the Commission thereunder. 

Shares: The shares of Class A Common Stock of the Company. 

Shelf Registration Statement: As defined in Section 2(a) hereof.  

Shell: As defined in the preamble. 

Suspension Event: As defined in Section 5(b) hereof. 

Suspension Notice: As defined in Section 5(b) hereof. 

Underwritten Offering: A sale of securities of the Company to an underwriter or underwriters for
re-offering to the public. 
  

	2.	 Registration Rights 

(a) Piggyback Registration Rights. Subject to Section 2(d) hereof, if at any time the Company files a Shelf Registration
Statement pursuant to the Prior 144A Registration Rights Agreement (a “Shelf Registration Statement”) with respect to the sale of any Prior 144A Registrable Shares, then the Company shall give prompt notice (the
“Initial Notice”) to the Holders. The Initial Notice shall offer the Holders the opportunity to register such number of Registrable Shares as such Holders may request and set forth (i) the anticipated filing date of such
Shelf Registration Statement, (ii) the number of shares of Class A Common Stock that are proposed to be included in such Shelf Registration Statement and (iii) the proposed manner of distribution. The Company shall include in such
Shelf Registration Statement such Registrable Shares for which it has received written requests to register such shares within twenty (20) business days after the 

  
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delivery of the Initial Notice. The Company may decline to file such Shelf Registration Statement after giving the Initial Notice, or withdraw such Shelf Registration Statement after filing and
after such Initial Notice as provided and subject to the Prior Investor Registration Rights Agreement. For the avoidance of doubt, this Section 2(a) shall not apply to an IPO Registration Statement filed by the Company. 

(b) IPO Registration. If the Company proposes to file an IPO Registration Statement pursuant to the Prior 144A Registration Rights
Agreement, it being understood that a public offering conducted after the Shelf Registration Statement has become effective and the Shares shall be listed for trading on the New York Stock Exchange, NASDAQ Global Market or NASDAQ Capital Market,
shall not be deemed to be an initial public offering, the Company will notify in writing each Holder of the filing before (but no earlier than ten (10) Business Days before) or within five (5) Business Days after the initial filing and
afford each Holder an opportunity to include in the IPO Registration Statement all or any part of the Registrable Shares then held by such Holder. Each Holder desiring to include in the IPO Registration Statement all or part of the Registrable
Shares held by such Holder shall, within twenty (20) Business Days after receipt of the above-described notice from the Company, so notify the Company in writing, and in such notice shall inform the Company of the number of Registrable Shares
such Holder wishes to include in the IPO Registration Statement. Any election by any Holder to include any Registrable Shares in the IPO Registration Statement will not affect the inclusion of such Registrable Shares in the Shelf Registration
Statement until such Registrable Shares have been sold under the IPO Registration Statement. Furthermore, in the event the IPO Registration Statement is not declared effective within four months following the initial filing of the IPO Registration
Statement, unless a road show for the Underwritten Offering pursuant to the IPO Registration Statement is in progress at such time or such IPO Registration Statement has been terminated or withdrawn pursuant to Section 2(b)(i) hereof,
the Company shall promptly provide a new written notice to all Holders giving them another opportunity to elect to include Registrable Shares in the pending IPO Registration Statement. Each Holder receiving such notice shall have the same election
rights afforded such Holder as described in clause (b) above. 
 (i) Right to Terminate IPO Registration. The
Company shall have the right to terminate or withdraw the IPO Registration Statement initiated by it and referred to in this Section 2(b) prior to the effectiveness of such registration whether or not any Holder has elected to include
Registrable Shares in such registration; provided, however, the Company must provide each Holder that elected to include any Registrable Shares in such IPO Registration Statement prompt written notice of such termination or withdrawal. 

(ii) Shelf Registration not impacted by IPO Registration Statement. The Company’s obligation to file the Shelf
Registration Statement pursuant to Section 2(a) hereof shall not be affected by the filing or effectiveness of the IPO Registration Statement. In addition, the Company’s obligation to file and use its commercially reasonable efforts
to cause to become and keep effective, except as provided in Section 8 hereof, the Shelf Registration Statement pursuant to Section 2(a) hereof shall not be affected by the filing or effectiveness of an IPO Registration
Statement; provided, however, if the Company files or submits to the SEC an IPO Registration Statement before the effective date of the Shelf Registration Statement and the Company has used and is using commercially reasonable efforts to
pursue the completion of such initial 

  
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public offering, the Company shall have the right to defer causing the Commission to declare such Shelf Registration Statement effective until up to 60 days after the closing date of its initial
public offering pursuant to the IPO Registration Statement so long as such closing date occurs on or before August 15, 2017. Notwithstanding any other provision in this Agreement to the contrary, if the Company files or submits to the SEC an
IPO Registration Statement before the effective date of the Shelf Registration Statement and the deadline for causing such Shelf Registration Statement to go effective is after the 60 day period beginning on the closing date of the Company’s
initial public offering pursuant to the IPO Registration Statement, the Company shall cause the Shelf Registration Statement to be declared effective no later than 60 days after the closing date of the Company’s initial public offering pursuant
to the IPO Registration Statement; provided, however, that if all Registrable Shares have been registered for resale and sold pursuant to the IPO Registration Statement, the Company shall have no obligation to cause the Shelf Registration
Statement to be declared effective. 
 (c) Issuer Free Writing Prospectus. The Company represents and agrees that, unless it obtains
the prior consent of Holders of a majority of the Registrable Shares that are registered under a Registration Statement at such time or the consent of the managing underwriter in connection with any Underwritten Offering of Registrable Shares, and
each Holder represents and agrees that, unless it obtains the prior consent of the Company and any such underwriter, it will not make any offer relating to the Shares that would constitute an “issuer free writing prospectus,” as defined in
Rule 433 (an “Issuer Free Writing Prospectus”), or that would otherwise constitute a “free writing prospectus,” as defined in Rule 405, required to be filed with the Commission. The Company represents that any Issuer Free
Writing Prospectus will not include any information that conflicts with the information contained in any Registration Statement or the related Prospectus, and any Issuer Free Writing Prospectus, when taken together with the information in such
Registration Statement and the related Prospectus, will not include any untrue statement of a material fact or omit to state any material fact necessary in order to make the statements therein, in light of the circumstances under which they were
made, not misleading. 
 (d) Underwriting. The Company shall advise all Holders of the lead managing underwriter for the Underwritten
Offering proposed under the IPO Registration Statement. The right of any such Holder’s Registrable Shares to be included in the IPO Registration Statement pursuant to Section 2(b) shall be conditioned upon such Holder’s
participation in such underwriting and the inclusion of such Holder’s Registrable Shares in the underwriting to the extent provided herein. All Holders proposing to distribute their Registrable Shares through such underwriting shall enter into
an underwriting agreement in customary form with the managing underwriter(s) selected for such underwriting and complete and execute any questionnaires, powers of attorney, indemnities, custody agreements, securities escrow agreements and other
documents, including opinions of counsel, reasonably required under the terms of such underwriting, and furnish to the Company such information as the Company may reasonably request in writing for inclusion in the Registration Statement;
provided, however, that no Holder shall be required to make any representations or warranties to or agreements with the Company or the underwriters other than representations, warranties or agreements regarding such Holder and such
Holder’s intended method of distribution and any other representation required by law or reasonably requested by the underwriters. 

  
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 (e) Priority of Rights. Notwithstanding any other provision of this Agreement, if the
managing underwriter(s) determine(s) in good faith that marketing factors require a limitation on the number of Shares to be included, then the managing underwriter(s) may exclude Shares (including Registrable Shares) from the IPO registration
Statement, and any Shares included in such IPO Registration Statement and Underwritten Offering shall be allocated as follows: first, to the Company, second, to each of the holders of Prior 144A Registrable Shares pursuant to the Prior
144A Registration Rights Agreement, on a pro rata basis based on the total number of Prior 144A Registrable Shares then held by each such holder who is requesting inclusion, third, to Shell, as a Holder of Registrable Shares, based on
the total number of Registrable Shares then held by Shell, and fourth, to each of the other Holders requesting inclusion of their Registrable Shares then held by each such Holder in such IPO Registration Statement on a pro rata basis
based on the total number of Registrable Shares then held by each such Holder who is requesting inclusion. 
 By electing to include the
Registrable Shares in the IPO Registration Statement, the Holder of such Registrable Shares shall be deemed to have agreed not to effect any public sale or distribution of securities of the Company of the same or similar class or classes of the
securities included in the IPO Registration Statement or any securities convertible into or exchangeable or exercisable for such securities, including a sale pursuant to Rule 144 or Rule 144A under the Securities Act, during such periods as
reasonably requested (but in no event for a period longer than 30 days prior to and 180 days following the effective date of the IPO Registration Statement) by the representatives of the underwriters, if an Underwritten Offering, or by the Company
in any other registration. 
 If any Holder disapproves of the terms of any such underwriting, such Holder may elect to withdraw therefrom
by written notice to the Company and the managing underwriter(s), delivered by the later of (i) two (2) Business Days after the IPO price range is communicated by the Company to such Holder and (ii) ten (10) Business Days prior to the
effective date of the IPO Registration Statement. Any Registrable Shares excluded or withdrawn from such underwriting shall be excluded and withdrawn from the registration. 

(f) Expenses. The Company shall pay all Registration Expenses in connection with the registration of the Registrable Shares pursuant to
this Agreement. Each Holder participating in a registration pursuant to this Section 2 shall bear such Holder’s proportionate share (based on the total number of Registrable Shares sold in such registration) of all discounts and
commissions payable to underwriters or brokers and all transfer taxes and transfer fees in connection with a registration of Registrable Shares pursuant to this Agreement. 

(g) JOBS ACT Submissions. For purposes of this Agreement, if the Company elects to confidentially submit a draft of the Shelf
Registration Statement with the Commission pursuant to the JOBS Act, the initial confidential submission of the draft Shelf Registration Statement with the Commission shall be deemed to be a filing with the Commission for purposes of this
Section 2, and the date on which the Company makes such confidential submission will be deemed the date of the initial filing of such Shelf Registration Statement. 

  
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	3.	 Rules 144 and 144A Reporting 

With a view to making available the benefits of certain rules and regulations of the Commission that may at any time permit the sale of the
Registrable Shares to the public without registration, the Company agrees to: 
 (a) make and keep current public information available,
as those terms are understood and defined in Rule 144 under the Securities Act, at all times after the effective date of the first registration statement under the Securities Act filed by the Company for an offering of its securities to the general
public; 
 (b) to file with the Commission in a timely manner all reports and other documents required to be filed by the Company under
the Securities Act and the Exchange Act (at any time after it has become subject to such reporting requirements); 
 (c) so long as a Holder
owns any Registrable Shares, if the Company is not required to file reports and other documents under the Securities Act and the Exchange Act, it will make available other information as required by, and so long as necessary to permit sales of
Registrable Shares pursuant to, Rule 144 or Rule 144A, and in any event shall make available (either by mailing a copy thereof, by posting on the Company’s website, or by press release) to each Holder a copy of: 

(i) the Company’s annual consolidated financial statements (including at least balance sheets, statements of profit
and loss, statements of stockholders’ equity and statements of cash flows) prepared in accordance with U.S. generally accepted accounting principles in the United States, accompanied by an audit report of the Company’s independent
accountants, no later than ninety (90) days after the end of each fiscal year of the Company; and 
 (ii) the
Company’s unaudited quarterly financial statements (including at least balance sheets, statements of profit and loss, statements of stockholders’ equity and statements of cash flows) prepared in a manner consistent with the preparation of
the Company’s annual financial statements, not later than forty-five (45) days after the end of each of the first three fiscal quarters in any such year (commencing with the quarter ending March 31, 2017), or, if the 45th day is not a
business day, the next business day; 
 (d) The Company shall hold, a reasonable time after the availability of the financial
statements described in clause (c) above and upon reasonable notice to the Holders (either by mail, by posting on the Company’s website, or by press release), a quarterly investor conference call to discuss such financial statements, which
call will also include an opportunity for the Holders to ask questions of management with regard to such financial statements; and 

(e) so long as a Holder owns any Registrable Shares, to furnish to the Holder promptly upon request (i) a written statement by the
Company as to its compliance with the reporting requirements of Rule 144 (at any time after ninety (90) days after the effective date of the first registration statement filed by the Company for an offering of its securities to the general
public), and the Exchange Act (at any time after it has become subject to the reporting requirements of the Exchange Act), (ii) a copy of the most recent annual or quarterly report of the Company, and (iii) such other reports and documents of
the Company, and take such further actions, as a Holder may reasonably request in availing itself of any rule or regulation of the Commission allowing a Holder to sell any such Registrable Shares without registration. 

  
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	4.	 Registration Procedures 

In connection with the obligations of the Company with respect to any registration pursuant to this Agreement, the Company shall use its
commercially reasonable efforts to effect or cause to be effected the registration of the Registrable Shares under the Securities Act to permit the sale of such Registrable Shares by the Holder or Holders in accordance with the Holder’s or
Holders’ intended method or methods of distribution, and the Company shall: 
 (a) notify the Holders in writing, at least three
(3) Business Days prior to filing a Registration Statement, of its intention to file a Registration Statement with the Commission and, at least two (2) Business Days prior to filing, provide a copy of the Registration Statement to the
Holders, their respective counsel and Review Counsel (if applicable) for review and comment; prepare and file with the Commission, as specified in this Agreement, a Registration Statement(s), which Registration Statement(s) shall comply as to form
in all material respects with the requirements of the Securities Act and the applicable form and include all financial statements required by the Commission to be filed therewith; notify the Holders and their respective counsel and Review Counsel
(if applicable) in writing, as soon as reasonably practicable prior to filing of any amendment or supplement to such Registration Statement and, as soon as reasonably practicable prior to filing, provide a copy of such amendment or supplement to the
Holders and their respective counsel and Review Counsel (if applicable) for review and comment; promptly following receipt from the Commission, provide to the Holders and their respective counsel and Review Counsel (if applicable) copies of any
comments made by the staff of the Commission relating to such Registration Statement and of the Company’s responses thereto for review and comment; and use its commercially reasonable efforts to cause such Registration Statement to become
effective as soon as practicable after filing and to remain effective, subject to Section 5 hereof, until the earlier of (i) such time as all Registrable Shares covered thereby have been sold in accordance with the intended
distribution of such Registrable Shares, there are no Registrable Shares outstanding or (iii) the first anniversary of the effective date of such Registration Statement (subject to extension as provided in Section 5(c) hereof and
the condition that the Registrable Shares have been transferred to an unrestricted CUSIP, are listed or included on the New York Stock Exchange, NASDAQ Global Market or NASDAQ Capital Market, pursuant to Section 4(m) of this Agreement,
or on an alternative trading system with the Registrable Shares qualified under the applicable state securities or “blue sky” laws of all fifty (50) states), and can be sold under Rule 144 without limitation as to manner of sale or
volume; provided, however, that the Company shall not be required to cause the IPO Registration Statement to remain effective for any period longer than ninety (90) days following the effective date of the IPO Registration Statement
(subject to extension as provided in Section 5(c) hereof) provided, further, that if the Company has an effective Shelf Registration Statement on Form S-1 (or other form then
available to the Company) under the Securities Act and becomes eligible to use Form S-3 or such other short-form registration statement form under the Securities Act, the Company may, upon ten
(10) Business Days prior written notice to all Holders, register any Registrable Shares registered but not yet distributed under the effective Shelf Registration Statement on such a short-form Shelf Registration Statement and, once the
short-form Shelf Registration Statement is declared effective, de-register such shares under the previous 

  
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Registration Statement or transfer the filing fees from the previous Registration Statement (such transfer pursuant to Rule 429, if applicable) unless any Holder registered under the initial
Shelf Registration Statement notifies the Company within five (5) Business Days of receipt of the Company notice that such a registration under a new Registration Statement and de-registration of the
initial Shelf Registration Statement would materially interfere with its distribution of Registrable Shares already in progress, in which case, the Company shall delay the effectiveness of the short-form Registration Statement and termination of the
then-effective initial Registration Statement or any short-form Registration Statement for a period of not less than thirty (30) days from the date that the Company receives the notice from such Holders requesting a delay; 

(b) subject to Section 4(h) hereof, (i) prepare and file with the Commission such amendments and post-effective
amendments to each such Registration Statement as may be necessary to keep such Registration Statement effective for the period described in Section 4(a) hereof; (ii) cause each Prospectus contained therein to be supplemented by any
required Prospectus supplement, and as so supplemented to be filed pursuant to Rule 424 or any similar rule that may be adopted under the Securities Act; and (iii) comply with the provisions of the Securities Act with respect to the disposition
of all securities covered by each Registration Statement during the applicable period in accordance with the intended method or methods of distribution by the selling Holders thereof; 

(c) furnish to the Holders, without charge, as many copies of each Prospectus, including each preliminary Prospectus, and any amendment
or supplement thereto and such other documents as such Holder may reasonably request, in order to facilitate the public sale or other disposition of the Registrable Shares; the Company consents, subject to Section 5 hereof, to the use of
such Prospectus, including each preliminary Prospectus, by the Holders, if any, in connection with the offering and sale of the Registrable Shares covered by any such Prospectus; 

(d) use its commercially reasonable efforts to register or qualify, or obtain exemption from registration or qualification for, all
Registrable Shares by the time the applicable Registration Statement is declared effective by the Commission under all applicable state securities or “blue sky” laws of such jurisdictions as any Holder of Registrable Shares covered by a
Registration Statement shall reasonably request in writing, keep each such registration or qualification or exemption effective during the period such Registration Statement is required to be kept effective pursuant to Section 4(a) and
do any and all other acts and things that may be reasonably necessary or advisable to enable such Holder to consummate the disposition in each such jurisdiction of such Registrable Shares owned by such Holder; provided, however, that the
Company shall not be required to (i) qualify generally to do business in any jurisdiction or to register as a broker or dealer in such jurisdiction where it would not otherwise be required to qualify but for this Section 4(d) and
except as may be required by the Securities Act, (ii) subject itself to taxation in any such jurisdiction or (iii) submit to the general service of process in any such jurisdiction; 

(e) use its commercially reasonable efforts to cause all Registrable Shares covered by such Registration Statement to be registered and
approved by such other governmental agencies or authorities as may be necessary to enable the Holders thereof to consummate the disposition of such Registrable Shares; 

  
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 (f) notify each Holder promptly and, if requested by any Holder, confirm such advice in
writing (1) when a Registration Statement has become effective and when any post-effective amendments and supplements thereto become effective, (2) of the issuance by the Commission or any state securities authority of any stop order
suspending the effectiveness of a Registration Statement or the initiation of any Proceeding for that purpose, (3) of any request by the Commission or any other federal, state or foreign governmental authority for (A) amendments or
supplements to a Registration Statement or related Prospectus or (B) additional information and (4) of the happening of any event during the period a Registration Statement is effective as a result of which such Registration Statement or
the related Prospectus or any document incorporated by reference therein contains any untrue statement of a material fact or omits to state any material fact required to be stated therein or necessary to make the statements therein not misleading
(which information shall be accompanied by an instruction to suspend the use of the Prospectus until the requisite changes have been made) and (5) at the request of any such Holder, promptly to furnish to such Holder a reasonable number of
copies of a supplement to or an amendment of such Prospectus as may be necessary so that, as thereafter delivered to the purchaser of such securities, such Prospectus shall not include an untrue statement of a material fact or omit to state a
material fact required to be stated therein or necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading; 

(g) use its commercially reasonable efforts to avoid the issuance of, or if issued, to obtain the withdrawal of, any order enjoining or
suspending the use or effectiveness of a Registration Statement or suspending the qualification of (or exemption from qualification of) any of the Registrable Shares for sale in any jurisdiction, as promptly as practicable; 

(h) except as provided in Section 5 hereof, upon the occurrence of any event contemplated by Section 4(f)(4)
hereof, use its commercially reasonable efforts to promptly prepare a supplement or post-effective amendment to a Registration Statement or the related Prospectus or any document incorporated therein by reference or file any other required document
so that, as thereafter delivered to the purchasers of the Registrable Shares, such Prospectus will not contain any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements
therein, in the light of the circumstances under which they were made, not misleading; 
 (i) if requested by the representative(s) of
the underwriters, if any, or any Holders of Registrable Shares being sold in connection with such offering, (i) promptly incorporate in a Prospectus supplement or post-effective amendment such information as the representative of the
underwriters, if any, or such Holders indicate relates to them or that they reasonably request be included therein and (ii) make all required filings of such Prospectus supplement or such post-effective amendment as soon as reasonably
practicable after the Company has received notification of the matters to be incorporated in such Prospectus supplement or post-effective amendment; 

(j) in the case of an Underwritten Offering, use its commercially reasonable efforts to furnish to each Holder of Registrable Shares
covered by such Registration Statement and the underwriters a signed counterpart, addressed to each such Holder and the underwriters, of: (i) an opinion of counsel for the Company, addressed to the underwriters, dated the date of each closing
under the underwriting agreement, covering customary matters, reasonably satisfactory to such 

  
 12 

 
Holder and the underwriters; and (ii) a “comfort” letter, addressed to the underwriters and the Board of Directors, dated the effective date of such Registration Statement and the
date of each closing under the underwriting agreement, signed by the independent public accountants who have certified the Company’s financial statements included in such Registration Statement, covering substantially the same matters with
respect to such Registration Statement (and the Prospectus included therein) and with respect to events subsequent to the date of such financial statements, as are customarily covered in accountants’ letters delivered to underwriters in
underwritten public offerings of securities; 
 (k) enter into customary agreements (including in the case of an Underwritten Offering,
an underwriting agreement in customary form and reasonably satisfactory to the Company) and take all other reasonable action in connection therewith in order to expedite or facilitate the distribution of the Registrable Shares included in such
Registration Statement and, in the case of an Underwritten Offering, make representations and warranties to the Holders covered by such Registration Statement and to the underwriters in such form and scope as are customarily made by issuers to
underwriters in underwritten offerings and confirm the same to the extent customary if and when requested; 
 (l) make available for
inspection during normal business hours upon reasonable request by representatives of the Holders and the representative of any underwriters participating in any disposition pursuant to a Registration Statement and any special counsel or accountants
retained by such Holders or underwriters, such financial and other records, pertinent corporate documents and properties of the Company as are reasonable in the context of such offering, and cause the respective officers, directors and employees of
the Company to supply all information reasonably requested by any such representatives, the representative of the underwriters, counsel thereto or accountants in connection with a Registration Statement; provided, however, that such records,
documents or information that the Company determines, in good faith, to be confidential and notifies such representatives, representative of the underwriters, counsel thereto or accountants are confidential shall not be disclosed by such
representatives, representative of the underwriters, counsel thereto or accountants unless (i) the disclosure of such records, documents or information is necessary to avoid or correct a misstatement or omission in a Registration Statement or
Prospectus, (ii) the release of such records, documents or information is ordered pursuant to a subpoena or other order from a court of competent jurisdiction, or (iii) such records, documents or information have been generally made
available to the public; provided, further, that the representatives of the Holders and any underwriters will use commercially reasonable efforts, to the extent practicable, to coordinate the foregoing inspection and information gathering and
not materially disrupt the Company’s business operations; provided, further, that, notwithstanding anything to the contrary in this Agreement, the Company shall not be required to provide any confidential information to any Person
without such Person’s prior written agreement to keep such information confidential; 
 (m) use its commercially reasonable
efforts (including, without limitation, seeking to cure any deficiencies cited by the exchange or market in the Company’s listing or inclusion application) to list or include all Registrable Shares on the New York Stock Exchange, NASDAQ Global
Market or NASDAQ Capital Market; 

  
 13 

 (n) prepare and file in a timely manner all documents and reports required by the Exchange
Act and, to the extent the Company’s obligation to file such reports pursuant to 
 (o) Section 15(d) of the Exchange Act
expires prior to the expiration of the effectiveness period of the Registration Statement as required by Section 4(a) hereof, the Company shall register the Registrable Shares under the Exchange Act and shall maintain such registration
through the effectiveness period required by Section 4(a) hereof; 
 (p) provide a CUSIP number for all Registrable Shares,
not later than the effective date of the Registration Statement; 
 (q) (i) otherwise use its commercially reasonable efforts to comply
with all applicable rules and regulations of the Commission, (ii) make generally available to its stockholders, as soon as reasonably practicable, earnings statements covering at least twelve (12) months beginning after the effective date
of the Registration Statement that satisfy the provisions of Section 11(a) of the Securities Act and Rule 158, but in no event later than ninety (90) days after the end of each fiscal year of the Company and (iii) not file any
Registration Statement or Prospectus or amendment or supplement to such Registration Statement or Prospectus to which any Holder of Registrable Shares covered by any Registration Statement shall have reasonably objected on the grounds that such
Registration Statement or Prospectus or amendment or supplement does not comply in all material respects with the requirements of the Securities Act; provide and cause to be maintained a registrar and transfer agent for all Registrable Shares
covered by any Registration Statement from and after a date not later than the effective date of such Registration Statement; 
 (r) in
connection with any sale or transfer of the Registrable Shares (whether or not pursuant to a Registration Statement) that will result in the securities being delivered no longer being Registrable Shares, cooperate with the Holders and the
representative of the underwriters, if any, to facilitate the timely preparation and delivery of certificates, if any, representing the Registrable Shares to be sold, which certificates shall not bear any restrictive transfer legends (other than as
required by the Company’s organizational documents) and to enable such Registrable Shares to be in such denominations and registered in such names as the representative of the underwriters, if any, or the Holders may request at least three
(3) Business Days prior to any sale of the Registrable Shares; 
 (s) in connection with the initial filing of a Shelf Registration
Statement and each amendment thereto with the Commission pursuant to Section 2(a) hereof, cooperate with the underwriters in connection with the filing with FINRA of all forms and information required or requested by FINRA in order to
obtain written confirmation from FINRA that FINRA does not object to the fairness and reasonableness of the underwriting terms and arrangements (or any deemed underwriting terms and arrangements) (each such written confirmation, a “No
Objections Letter”) relating to the resale of Registrable Shares pursuant to the Shelf Registration Statement, including, without limitation, information provided to FINRA through its Public Offering System, and pay all costs, fees and
expenses incident to FINRA’s review of the Shelf Registration Statement and the related underwriting terms and arrangements, including, without limitation, all filing fees associated with any filings or submissions to FINRA and the legal
expenses, filing fees and other disbursements of the underwriters and any other FINRA member that is the Holder of, or is affiliated or associated with an owner of, Registrable Shares included in the Shelf Registration Statement (including in
connection with any initial or subsequent member filing); 

  
 14 

 (t) in connection with the initial filing of a Shelf Registration Statement and each
amendment thereto with the Commission pursuant to Section 2(a) hereof, provide to the underwriters, upon reasonable notice, the opportunity to conduct customary due diligence, including, without limitation, an inquiry of the
Company’s financial and other records, and make reasonably available members of its management for questions regarding information which the underwriters may request in order to fulfill any due diligence obligation on its part; 

(u) upon effectiveness of the first Registration Statement filed under this Agreement, take such actions and make such filings as are
necessary to effect the registration of the Class A Common Stock under the Exchange Act simultaneously with or immediately following the effectiveness of the Registration Statement; and 

(v) in the case of an Underwritten Offering, use its commercially reasonable efforts to cooperate and assist in any filings required to
be made with FINRA and in the performance of any due diligence investigation by any underwriter and its counsel (including any “qualified independent underwriter,” if applicable) that is required to be retained in accordance with the rules
and regulations of FINRA. 
 The Company may require the Holders to furnish (and each Holder shall furnish) to the Company such information
regarding the proposed distribution by such Holder of such Registrable Shares as the Company may from time to time reasonably request in writing or as shall be required to effect the registration of the Registrable Shares, and no Holder shall be
entitled to be named as a selling stockholder in any Registration Statement and no Holder shall be entitled to use the Prospectus forming a part thereof if such Holder does not provide such information to the Company. Any Holder that sells
Registrable Shares pursuant to a Registration Statement or as a selling securityholder pursuant to an Underwritten Offering shall be required to be named as a selling shareholder in the related prospectus and to deliver a prospectus to purchasers.
Each Holder further agrees to furnish promptly to the Company in writing all information required from time to time to make the information previously furnished by such Holder not misleading. 

Each Holder agrees that, upon receipt of any notice from the Company of the happening of any event of the kind described in
Section 4(f)(3) or 4(f)(4) hereof, such Holder will immediately discontinue disposition of Registrable Shares pursuant to a Registration Statement until such Holder’s receipt of the copies of the supplemented or amended
Prospectus. If so directed by the Company, such Holder will deliver to the Company (at the expense of the Company) all copies in its possession, other than permanent file copies then in such Holder’s possession, of the Prospectus covering such
Registrable Shares current at the time of receipt of such notice. 
  

	5.	 Black-Out Period 

(a) Subject to the provisions of this Section 5 and a good faith determination by a majority of the independent members of the
board of directors of the Company (the “Board of Directors”) that it is in the best interests of the Company to suspend the use of the Registration Statement, following the effectiveness of a Registration Statement (and the
filings with any 

  
 15 

 
international, federal or state securities commissions), the Company, by written notice to the Holders, may direct the Holders to suspend sales of the Registrable Shares pursuant to a
Registration Statement for such times as the Company reasonably may determine is necessary and advisable (but in no event for more than an aggregate of 90 days in any rolling 12-month period commencing on the
date hereof or more than 60 days in any rolling 90-day period), so long as in each of the following cases the holders of the Prior 144A Registrable Shares and Prior Equity Holdings Registrable Shares are given
a substantially similar notice and are required to suspend sales for the same period, if any of the following events shall occur: (i) the representative of the underwriters of an Underwritten Offering of primary shares by the Company has
advised the Company that the sale of Registrable Shares pursuant to the Registration Statement would have a material adverse effect on the Company’s primary Underwritten Offering; (ii) the majority of the independent members of the Board
of Directors of the Company shall have determined in good faith that (A) the offer or sale of any Registrable Shares would materially impede, delay or interfere with any proposed financing, offer or sale of securities, acquisition, business
combination, corporate reorganization or other significant transaction involving the Company, (B) after the advice of counsel, the sale of Registrable Shares pursuant to the Registration Statement would require disclosure of non-public material information not otherwise required to be disclosed under applicable law, and (C) (x) the Company has a bona fide business purpose for preserving the confidentiality of such transaction,
(y) disclosure would have a material adverse effect on the Company or the Company’s ability to consummate such transaction, or (z) the disclosure would render the Company unable to comply with Commission requirements, in each case
under circumstances that would make it impractical or inadvisable to cause the Registration Statement (or such filings) to become effective or to promptly amend or supplement the Registration Statement on a post-effective basis, as applicable; or
(iii) the majority of the independent members of the Board of Directors of the Company shall have determined in good faith, after the advice of counsel, that it is required by law, rule or regulation or that it is in the best interests of the
Company to supplement the Registration Statement or file a post-effective amendment to the Registration Statement in order to incorporate information into the Registration Statement for the purpose of (1) including in the Registration Statement
any prospectus required under Section 10(a)(3) of the Securities Act; (2) reflecting in the prospectus included in the Registration Statement any facts or events arising after the effective date of the Registration Statement (or of the
most recent post-effective amendment) that, individually or in the aggregate, represent a fundamental change in the information set forth therein; or (3) including in the prospectus included in the Registration Statement any material
information with respect to the plan of distribution not disclosed in the Registration Statement or any material change to such information. Upon the occurrence of any such suspension, the Company shall use its commercially reasonable efforts to
cause the Registration Statement to become effective or to promptly amend or supplement the Registration Statement on a post-effective basis or to take such action as is necessary to make resumed use of the Registration Statement compatible with the
Company’s best interests, as applicable, so as to permit the Holders to resume sales of the Registrable Shares as soon as possible. 

(b) In the case of an event that causes the Company to suspend the use of a Registration Statement (a “Suspension
Event”), the Company shall give written notice (a “Suspension Notice”) to the Holders to suspend sales of the Registrable Shares. Such notice shall not be required to state the basis for the notice if such basis
is confidential. Such suspension shall continue only for so long as the Suspension Event or its effect is continuing and the 

  
 16 

 
Company is using its commercially reasonable efforts and taking all reasonable steps to terminate suspension of the use of the Registration Statement as promptly as reasonably practicable. The
Holders shall not effect any sales of the Registrable Shares pursuant to such Registration Statement (or such filings) at any time after it has received a Suspension Notice from the Company and prior to receipt of an End of Suspension Notice (as
defined below). If so directed by the Company, each Holder will deliver to the Company (at the expense of the Company) all copies other than permanent file copies then in such Holder’s possession of the Prospectus covering the Registrable
Shares at the time of receipt of the Suspension Notice. The Holders may recommence effecting sales of the Registrable Shares pursuant to the Registration Statement (or such filings) following further notice to such effect (an “End of
Suspension Notice”) from the Company, which End of Suspension Notice shall be given by the Company to the Holders in the manner described above promptly following the conclusion of any Suspension Event and its effect. 

(c) Notwithstanding any provision herein to the contrary, if the Company shall give a Suspension Notice pursuant to this
Section 5, the Company agrees that it shall extend the period of time during which the applicable Registration Statement shall be maintained effective pursuant to this Agreement by the number of days during the period from the date of
receipt by the Holders of the Suspension Notice to and including the date of receipt by the Holders of the End of Suspension Notice and provide copies of the supplemented or amended Prospectus necessary to resume sales. 

 

	6.	 Indemnification and Contribution 

(a) The Company agrees to indemnify and hold harmless (i) each Holder of Registrable Shares and any underwriter (as determined in the
Securities Act) for such Holder, (ii) each Person, if any, who controls (within the meaning of Section 15 of the Securities Act or Section 20(a) of the Exchange Act) any such Person described in clause (i) (any of the Persons referred
to in this clause (ii) being hereinafter referred to as a “Controlling Person”), and (iii) the respective officers, directors, partners, members, employees, representatives and agents of any such Person or any
Controlling Person (any Person referred to in clause (i), (ii) or (iii) above may hereinafter be referred to as a “Purchaser Indemnitee”), to the fullest extent lawful, from and against any and all losses, claims,
damages, judgments, actions, out-of-pocket expenses, and other liabilities (the “Liabilities”), including without limitation and as incurred,
reimbursement of all reasonable costs of investigating, preparing, pursuing or defending any claim or action, or any investigation or Proceeding by any governmental agency or body, commenced or threatened, including the reasonable fees and expenses
of counsel to any Purchaser Indemnitee, joint or several, directly or indirectly related to, based upon, arising out of or in connection with, (x) with respect to any Registration Statement (or any amendment thereto), any untrue statement or
alleged untrue statement of a material fact contained therein or any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statement therein not misleading, or (y) with respect to
any Prospectus (or any amendment or supplement thereto), Issuer Free Writing Prospectus (or any amendment or supplement thereto) or any preliminary Prospectus or any other document used to sell the Shares, any untrue statement or alleged untrue
statement of a material fact contained therein or any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein, in the light of the circumstances under which they were
made, not misleading, in each case, except insofar as such Liabilities arise out of or are based upon any untrue statement or 

  
 17 

 
omission or alleged untrue statement or omission made in reliance upon and in conformity with information relating to any Purchaser Indemnitee furnished to the Company, or any underwriter
in writing by such Purchaser Indemnitee expressly for use therein. The Company shall notify the Holders promptly of the institution, threat or assertion of any claim, Proceeding (including any governmental investigation except to the extent such
investigation is confidential and is not required to be disclosed by the Company under applicable law), or litigation of which it shall have become aware in connection with the matters addressed by this Agreement which involves the Company or a
Purchaser Indemnitee. The indemnity provided for herein shall remain in full force and effect regardless of any investigation made by or on behalf of any Purchaser Indemnitee. 

(b) In connection with any Registration Statement in which a Holder of Registrable Shares is participating, and as a condition to such
participation, such Holder agrees, severally and not jointly, to indemnify and hold harmless the Company and its officers, directors, partners, members, employees, representatives and agents and each Person who controls the Company within the
meaning of Section 15 of the Securities Act or Section 20(a) of the Exchange Act and their respective officers, directors, partners, members, employees, representatives and agents of such Person or Controlling Person to the same extent as
the foregoing indemnity from the Company to each Purchaser Indemnitee, but only with reference to untrue statements or omissions or alleged untrue statements or omissions made in reliance upon and in conformity with information relating to such
Holder furnished to the Company in writing by such Holder expressly for use in such Registration Statement (or any amendment thereto), Prospectus (or any amendment or supplement thereto), Issuer Free Writing Prospectus (or any amendment or
supplement thereto) or any preliminary Prospectus or any Liabilities arising out of or based upon sales of Registrable Shares made pursuant to the Registration Statement by such Holder who has received notice of the suspension prior to such sale in
violation of Section 5(b). Absent gross negligence or willful misconduct, the liability of any Holder pursuant to this paragraph shall in no event exceed the net proceeds received by such Holder from sales of Registrable Shares pursuant
to such Registration Statement (or any amendment thereto), Prospectus (or any amendment or supplement thereto), Issuer Free Writing Prospectus (or any amendment or supplement thereto) or any preliminary Prospectus. 

(c) If any suit, action, Proceeding (including any governmental or regulatory investigation), claim or demand shall be brought or asserted
against any Person in respect of which indemnity may be sought pursuant to paragraph (a) or (b) above, such Person (the “Indemnified Party”) shall promptly notify the Person against whom such indemnity may be sought (the
“Indemnifying Party”) in writing of the commencement thereof (but the failure to so notify an Indemnifying Party shall not relieve it from any liability which it may have under this Section 6, except to the extent
the Indemnifying Party is materially prejudiced by the failure to give notice), and the Indemnifying Party, upon request of the Indemnified Party, shall retain counsel reasonably satisfactory to the Indemnified Party to represent the Indemnified
Party and any others the Indemnifying Party may reasonably designate in such Proceeding and shall pay the reasonable fees and expenses actually incurred by such counsel related to such Proceeding. Notwithstanding the foregoing, in any such
Proceeding, any Indemnified Party shall have the right to retain its own counsel, but the fees and expenses of such counsel shall be at the expense of such Indemnified Party, unless (i) the Indemnifying Party and the Indemnified Party shall
have mutually agreed in writing to the contrary, (ii) the Indemnifying Party failed within a reasonable time after notice of commencement of the action to assume the defense and employ counsel 

  
 18 

 
reasonably satisfactory to the Indemnified Party, (iii) the Indemnifying Party and its counsel do not actively and vigorously pursue the defense of such action or (iv) the named parties
to any such action (including any impleaded parties) include both such Indemnified Party and Indemnifying Party, or any Affiliate of the Indemnifying Party, and such Indemnified Party shall have been reasonably advised by counsel that, either
(x) there may be one or more legal defenses available to it which are different from or additional to those available to the Indemnifying Party or such Affiliate of the Indemnifying Party or (y) a conflict may exist between such
Indemnified Party and the Indemnifying Party or such Affiliate of the Indemnifying Party (in which case the Indemnifying Party shall not have the right to assume nor direct the defense of such action on behalf of such Indemnified Party; it being
understood, however, that the Indemnifying Party shall not, in connection with any one such action or separate but substantially similar or related actions in the same jurisdiction arising out of the same general allegations or circumstances, be
liable for the fees and expenses of more than one separate firm of attorneys (in addition to any local counsel) for all such Indemnified Parties, which firm shall be designated in writing by those Indemnified Parties who sold a majority of the
Registrable Shares sold by all such Indemnified Parties and any such separate firm for the Company, the directors, the officers and such control Persons of the Company as shall be designated in writing by the Company). The Indemnifying Party shall
not be liable for any settlement of any Proceeding effected without its written consent, which consent shall not be unreasonably withheld, but if settled with such consent or if there is a final judgment for the plaintiff, the Indemnifying Party
agrees to indemnify any Indemnified Party from and against any loss or liability by reason of such settlement or judgment. No Indemnifying Party shall, without the prior written consent of the Indemnified Party, effect any settlement of any pending
or threatened Proceeding in respect of which any Indemnified Party is or could have been a party and indemnity could have been sought hereunder by such Indemnified Party, unless such settlement (i) includes an unconditional release of such
Indemnified Party from all liability on claims that are the subject matter of such Proceeding and (ii) does not include a statement as to or an admission of, fault, culpability or a failure to act by or on behalf of the Indemnified Party. 

(d) If the indemnification provided for in paragraphs (a) and (b) of this Section 6 is for any reason held to be unavailable
to an Indemnified Party in respect of any Liabilities referred to therein (other than by reason of the exceptions provided therein) or is insufficient to hold harmless a party indemnified thereunder, then each Indemnifying Party under such
paragraphs, in lieu of indemnifying such Indemnified Party thereunder, shall contribute to the amount paid or payable by such Indemnified Party as a result of such Liabilities (i) in such proportion as is appropriate to reflect the relative
benefits of the Indemnified Party on the one hand and the Indemnifying Party(ies) on the other in connection with the statements or omissions that resulted in such Liabilities, or (ii) if the allocation provided by clause (i) above is not
permitted by applicable law, in such proportion as is appropriate to reflect not only the relative benefits referred to in clause (i) above but also the relative fault of the Indemnifying Party(ies) and the Indemnified Party, as well as any
other relevant equitable considerations. The relative fault of the Company on the one hand and any Purchaser Indemnitees on the other shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a
material fact or the omission or alleged omission to state a material fact relates to information supplied by the Company or by such Purchaser Indemnitees and the parties’ relative intent, knowledge, access to information and opportunity to
correct or prevent such statement or omission. 

  
 19 

 (e) The parties agree that it would not be just and equitable if contribution pursuant to
this Section 6 were determined by pro rata allocation (even if such Indemnified Parties were treated as one entity for such purpose), or by any other method of allocation that does not take account of the equitable considerations
referred to in Section 6(d) above. The amount paid or payable by an Indemnified Party as a result of any Liabilities referred to in Section 6(d) above shall be deemed to include, subject to the limitations set forth above,
any reasonable legal or other expenses actually incurred by such Indemnified Party in connection with investigating or defending any such action or claim. Notwithstanding the provisions of this Section 6, in no event shall a Purchaser
Indemnitee be required to contribute any amount in excess of the amount by which the net proceeds received by such Purchaser Indemnitee from sales of Registrable Shares exceeds the amount of any damages that such Purchaser Indemnitee has otherwise
been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission. For purposes of this Section 6, each Person, if any, who controls (within the meaning of Section 15 of the Securities Act or
Section 20(a) of the Exchange Act) a Holder of Registrable Shares shall have the same rights to contribution as such Holder, as the case may be, and each Person, if any, who controls (within the meaning of Section 15 of the Securities Act
or Section 20(a) of the Exchange Act) the Company, and each officer, director, partner, employee, representative, agent or manager of the Company shall have the same rights to contribution as the Company. Any party entitled to contribution
will, promptly after receipt of notice of commencement of any action, suit or Proceeding against such party in respect of which a claim for contribution may be made against another party or parties, notify each party or parties from whom
contribution may be sought, but the omission to so notify such party or parties shall not relieve the party or parties from whom contribution may be sought from any obligation it or they may have under this Section 6 or otherwise, except
to the extent that any party is materially prejudiced by the failure to give notice. No Person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any
Person who was not guilty of such fraudulent misrepresentation. 
 (f) The indemnity and contribution agreements contained in this
Section 6 will be in addition to any liability which the Indemnifying Parties may otherwise have to the Indemnified Parties referred to above. The Purchaser Indemnitee’s obligations to contribute pursuant to this
Section 6 are several in proportion to the respective number of Registrable Shares sold by each of the Purchaser Indemnitees hereunder and not joint. 
  

	7.	 Market Stand-off Agreement 

The Company and each Holder hereby agrees that it shall not, to the extent requested by the Company or an underwriter of securities of the
Company, directly or indirectly sell, offer to sell (including without limitation any short sale), grant any option or otherwise transfer or dispose of any Registrable Shares or other shares of Class A Common Stock in the Company or any
securities convertible into or exchangeable or exercisable for shares of Class A Common Stock then owned by such Holder (other than to donees or partners of the Holder who agree to be similarly bound) (i) in the case of the Company and
each of its officers, directors, managers and employees, in each case to the extent such person or entity holds shares of Class A Common Stock or securities convertible into or exchangeable or exercisable for shares of Class A Common
Stock, for a period beginning on the effective date of, and continuing for one hundred eighty (180) days following the effective date of, the IPO Registration Statement to the Company; (ii) in the case of 

  
 20 

 
all other Holders who include Registrable Shares in the IPO Registration Statement, beginning on the effective date of, and continuing for one hundred eighty (180) days following the
effective date of the IPO Registration Statement of the Company, and (iii) in the case of all other Holders who do not include Registrable Shares in the IPO Registration Statement sixty (60) days following the effective date of an IPO
Registration Statement of the Company filed under the Securities Act; provided, however, that: 
 (a) the restrictions above shall
not apply to Registrable Shares sold pursuant to the IPO Registration Statement; 
 (b) all executive officers and directors of the
Company then holding shares of Class A Common Stock or securities convertible into or exchangeable or exercisable for shares of Class A Common Stock enter into agreements that are no less restrictive than the restrictions applicable to the
Holders; 
 (c) the Holders shall be allowed any concession or proportionate release allowed to any officer or director that entered
into agreements that are no less restrictive (with such proportion being determined by dividing the number of shares being released with respect to such officer or director by the total number of issued and outstanding shares held by such officer or
director); provided, that nothing in this Section 7(c) shall be construed as a right to proportionate release for the executive officers and directors of the Company upon the expiration of the period applicable to all Holders
other than the executive officers and directors of the Company; and 
 (d) this Section 7 shall not be applicable if a
Shelf Registration Statement of the Company filed under the Securities Act has been declared effective prior to the filing of an IPO Registration Statement. 

In order to enforce the foregoing covenant, the Company shall have the right to place restrictive legends on the certificates, if any,
representing the securities subject to this Section 7 and to impose stop transfer instructions with respect to the Registrable Shares and such other securities of each Holder (and the securities of every other Person subject to the
foregoing restriction) until the end of such period. 
  

	8.	 Termination of the Company’s Obligation 

The Company shall have no obligation pursuant to this Agreement with respect to any Registrable Shares proposed to be sold by a Holder in a
registration pursuant to this Agreement if all such Shares proposed to be sold by such Holder have been listed for trading on a national securities exchange and have ceased to be Registrable Shares. 

 

	9.	 Limitations on Subsequent Registration Rights 

From and after the date of this Agreement, the Company shall not, without the prior written consent of Holders beneficially owning not less
than a majority of the then outstanding Registrable Shares (provided, however, that for purposes of this Section 9, Registrable Shares that are owned, directly or indirectly, by an Affiliate of the Company shall not be deemed to
be outstanding), enter into any agreement other than the Registration Rights Agreement with any holder or prospective holder of any securities of the Company that would allow such holder or 

  
 21 

 
prospective holder (a) to include such securities in any Registration Statement filed pursuant to the terms hereof, unless, under the terms of such agreement, such holder or prospective
holder may include such securities in any such registration only to the extent that the inclusion of its securities will not reduce the amount of Registrable Shares of the Holders that is included, or (b) to have its securities registered on a
registration statement that is required to be declared effective prior to, or within one-hundred eighty (180) days of, the effective date of any registration statement filed pursuant to this Agreement.

  

	10.	 Miscellaneous 

(a) Remedies. In the event of a breach by the Company of any of its obligations under this Agreement, each Holder, in addition to being
entitled to exercise all rights provided herein or in the Purchase Agreement, or granted by law, including the recovery of damages, will be entitled to specific performance of its rights under this Agreement. Subject to Section 6, the
Company agrees that monetary damages would not be adequate compensation for any loss incurred by reason of a breach by it of any of the provisions of this Agreement and hereby further agrees that, in the event of any action for specific performance
in respect of such breach, it shall waive the defense that a remedy at law would be adequate. 
 (b) Amendments and Waivers. The
provisions of this Agreement, including the provisions of this paragraph, may not be amended, modified or supplemented, and waivers or consents to or departures from the provisions hereof may not be given, without the written consent of the Company
and Holders beneficially owning not less than a majority of the then outstanding Registrable Shares; provided, however, that for purposes of this Section 10(b), Registrable Shares that are owned, directly or indirectly, by an
Affiliate of the Company shall not be deemed to be outstanding; provided, further, however, that any amendments, modifications or supplements to, or any waivers or consents to departures from, the provisions of Section 7 hereof
that would have the effect of extending the sixty (60) or one hundred eighty (180) day periods referenced herein shall be approved by, and shall only be applicable to, those Holders who provide written consent to such extension to the
Company. No amendment shall be deemed effective unless it applies uniformly to all Holders. Notwithstanding the foregoing, a waiver or consent to or departure from the provisions hereof with respect to a matter that relates exclusively to the rights
of a Holder whose securities are being sold pursuant to a Registration Statement and that does not directly or indirectly affect, impair, limit or compromise the rights of other Holders may be given by such Holder; provided that the
provisions of this sentence may not be amended, modified or supplemented except in accordance with the provisions of the first and second sentences of this paragraph. 

(c) Notices. All notices and other communications, provided for or permitted hereunder, shall be made in writing and delivered by
facsimile (with receipt confirmed), overnight courier or registered or certified mail, return receipt requested, or by telegram: 

(i) if to a Holder, at the most current address given by the transfer agent and registrar of the shares to the Company;

 (ii) if to the Company, at the offices of the Company at 333 Clay Street, Suite 4200, Houston, Texas 77002,
Attention: David M. Dunwoody, Jr.; 

  
 22 

 (d) Successors and Assigns. This Agreement shall inure to the benefit of and be
binding upon the successors and assigns of each of the parties hereto, including, without limitation and without the need for an express assignment or assumption, subsequent Holders. 

(e) Counterparts. This Agreement may be executed in any number of counterparts and by the parties hereto in separate counterparts, each
of which when so executed shall be deemed to be an original and all of which taken together shall constitute one and the same agreement. 

(f) Headings. The headings in this Agreement are for convenience of reference only and shall not limit or otherwise affect the meaning
hereof. 
 (g) Governing Law. THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW
YORK, AS APPLIED TO CONTRACTS MADE AND PERFORMED WITHIN THE STATE OF NEW YORK, WITHOUT REGARD TO PRINCIPLES OF CONFLICTS OF LAW. EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY SUBMITS TO THE JURISDICTION OF ANY STATE COURT IN THE STATE OF NEW YORK OR
ANY FEDERAL COURT SITTING IN NEW YORK IN RESPECT OF ANY SUIT, ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT, AND IRREVOCABLY ACCEPTS FOR ITSELF AND IN RESPECT OF ITS PROPERTY, GENERALLY AND UNCONDITIONALLY, THE JURISDICTION OF
THE AFORESAID COURTS. EACH OF THE PARTIES HERETO IRREVOCABLY WAIVES, TO THE FULLEST EXTENT IT MAY EFFECTIVELY DO SO UNDER APPLICABLE LAW, ANY OBJECTION THAT IT MAY NOW OR HEREAFTER HAVE TO THE LAYING OF THE VENUE OF ANY SUCH SUIT, ACTION OR
PROCEEDING BROUGHT IN ANY SUCH COURT AND ANY CLAIM THAT ANY SUCH SUIT, ACTION OR PROCEEDING BROUGHT IN ANY SUCH COURT HAS BEEN BROUGHT IN AN INCONVENIENT FORUM. THE PARTIES WAIVE THE RIGHT TO A TRIAL BY JURY IN ANY DISPUTE IN CONNECTION WITH THIS
AGREEMENT. 
 (h) Severability. If any term, provision, covenant or restriction of this Agreement is held by a court of competent
jurisdiction to be invalid, illegal, void or unenforceable, the remainder of the terms, provisions, covenants and restrictions set forth herein shall remain in full force and effect and shall in no way be affected, impaired or invalidated, and the
parties hereto shall use their commercially reasonable efforts to find and employ an alternative means to achieve the same or substantially the same result as that contemplated by such term, provision, covenant or restriction. It is hereby
stipulated and declared to be the intention of the parties hereto that they would have executed the remaining terms, provisions, covenants and restrictions without including any of such that may be hereafter declared invalid, illegal, void or
unenforceable. 
 (i) Entire Agreement. This Agreement, together with the Purchase Agreement, is intended by the parties hereto as a
final expression of their agreement, and is intended to be a complete and exclusive statement of the agreement and understanding of the parties hereto in respect of the subject matter contained herein and therein. 

  
 23 

 (j) Registrable Shares Held by the Company or its Affiliates. Whenever the consent or
approval of Holders of a specified percentage of Registrable Shares is required hereunder, Registrable Shares held by the Company or its Affiliates shall not be counted in determining whether such consent or approval was given by the Holders of such
required percentage. 
 (k) Adjustment for Stock Splits, etc. Wherever in this Agreement there is a reference to a specific number of
shares, then upon the occurrence of any subdivision, combination, or stock dividend of such shares, the specific number of shares so referenced in this Agreement shall automatically be proportionally adjusted to reflect the effect on the outstanding
shares of such class or series of Stock by such subdivision, combination, or stock dividend. 
 (l) Survival. This Agreement is
intended to survive the consummation of the transactions contemplated by the Purchase Agreement. The indemnification and contribution obligations under Section 6 of this Agreement shall survive the termination of the Company’s
obligations under Section 2 of this Agreement. 
 (m) Attorneys’ Fees. In any action or Proceeding brought to
enforce any provision of this Agreement, or where any provision hereof is validly asserted as a defense, the prevailing party, as determined by the court, shall be entitled to recover its reasonable attorneys’ fees in addition to any other
available remedy. 
 [Signature page follows] 

  
 24 

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

					
	ENVEN ENERGY CORPORATION
		
	By:	 	/s/ John P. Wilkirson
		 	Name:	 	John P. Wilkirson
		 	Title	 	CFO

 [Signature Page to Registration Rights Agreement] 

					
	ADAGE CAPITAL PARTNERS, L.P.
		
	By: 	 	/s/ D. Lehan
		 	Name:	 	D. Lehan
		 	Title:	 	COO

 [Signature Page to Registration Rights Agreement] 

			
	SANKATY CREDIT OPPORTUNITIES IV, L.P.
		
	By:	 	/s/ Andrew Viens
		 	Name: Andrew Viens
		 	Title: Executive Vice President

  

			
	BAIN CAPITAL DISTRESSED AND SPECIAL SITUATIONS 2013 (AIV I), L.P.
		
	By:	 	/s/ Andrew Viens
		 	Name: Andrew Viens
		 	Title: Executive Vice President

  

			
	BAIN CAPITAL DISTRESSED AND SPECIAL SITUATIONS 20l3 (AIV II MASTER), L.P.
		
	By:	 	/s/ Andrew Viens
		 	Name: Andrew Viens
		 	Title: Executive Vice President

  

			
	BAIN CAPITAL DISTRESSED AND SPECIAL SITUATIONS 2013 (B), L.P.
		
	By:	 	/s/ Andrew Viens
		 	Name: Andrew Viens
		 	Title: Executive Vice President

  

			
	BAIN CAPITAL DISTRESSED AND SPECIAL SITUATIONS 2016 (A), L.P.
		
	By:	 	/s/ Andrew Viens
		 	Name: Andrew Viens
		 	Title: Executive Vice President

 [Signature Page to Registration Rights Agreement] 

			
	BAIN CAPITAL DISTRESSED AND SPECIAL SITUATIONS 2016 (B MASTER), L.P.
		
	By:	 	/s/ Andrew Viens
		 	Name: Andrew Viens
		 	Title: Executive Vice President

  

			
	BAIN CAPITAL DISTRESSED AND SPECIAL SITUATIONS 2016 (F), L.P.
		
	By:	 	/s/ Andrew Viens
		 	Name: Andrew Viens
		 	Title: Executive Vice President

  

			
	BAIN CAPITAL HIGH INCOME PARTNERSHIP, L.P.
		
	By:	 	/s/ Andrew Viens
		 	Name: Andrew Viens
		 	Title: Executive Vice President

  

			
	BAIN CAPITAL CREDIT MANAGED ACCOUNT (E), L.P.
		
	By:	 	/s/ Andrew Viens
		 	Name: Andrew Viens
		 	Title: Executive Vice President

  

			
	BAIN CAPITAL CREDIT MANAGED ACCOUNT (PSERS), L.P.
		
	By:	 	/s/ Andrew Viens
		 	Name: Andrew Viens
		 	Title: Executive Vice President

 [Signature Page to Registration Rights Agreement] 

 
			
	BAIN CAPITAL CREDIT (AUSTRALIA) PTY LTD IN ITS CAPACITY AS TRUSTEE OF QCT
		
	By:	 	 BAIN CAPITAL CREDIT, LP,
 as
Manager

		
	By:	 	/s/ Andrew Viens
		 	Name: Andrew Viens
		 	Title: Executive Vice President

  

			
	FUTURE FUND BOARD OF GUARDIANS
		
	By:	 	 BAIN CAPITAL CREDIT, LP,
 as Investment
Manager

		
	By:	 	/s/ Andrew Viens
		 	Name: Andrew Viens
		 	Title: Executive Vice President

 [Signature Page to Registration Rights Agreement] 

			
	CLARENDON INVESTMENT PARTNERS II, LP
		
	By:	 	 BCES MANAGEMENT, LLC,
 its General
Partner

		
	By:	 	/s/ Colin Campbell
		 	Name: Colin Campbell
		 	Title: Authorized Signatory

  

			
	BOYLSTON REAL ASSETS FUND, LP
		
	By:	 	 BOYLSTON INVESTORS, LLC,
 its General
Partner

		
	By:	 	/s/ Colin Campbell
		 	Name: Colin Campbell
		 	Title: Authorized Signatory

 [Signature Page to Registration Rights Agreement] 

 
					
	SHELL OFFSHORE INC.
		
	By:	 	/s/ P Keith Morris
		 	Name:	 	P Keith Morris
		 	Title:	 	Attorney in Fact

 [Signature Page to Registration Rights Agreement] 

 
			
	ADDITIONAL INVESTOR:
	
	GREAT AMERICAN INSURANCE COMPANY
		
	By:	 	/s/ Stephen C. Beraha
		 	Name: Stephen C. Beraha
		 	Title: Assistant Vice President

 [Signature Page to Registration Rights Agreement] 

 
			
	ADDITIONAL INVESTOR:
	
	GREAT AMERICAN LIFE INSURANCE COMPANY
		
	By:	 	/s/ Mark F. Muething
		 	Name: Mark F. Muething
		 	Title:  Executive Vice President

 [Signature Page to Registration Rights Agreement] 

 
					
	ADDITIONAL INVESTOR:
	
	Columbia Pacific Opportunity Fund, LP
		
	By:	 	/s/ Alexander Washburn

 
					
		 	Name:	 	Alexander Washburn
		 	Title:  	 	Managing Member of the General Partner to Columbia Pacific Opportunity Fund, LP

 [Signature Page to Registration Rights Agreement] 

 
					
	ADDITIONAL INVESTOR:
	
	M&N Mineral Interests, LP
		
	By:	 	/s/ Michael J. Rosinski

 
					
		 	Name:	 	Michael J. Rosinski
		 	Title:  	 	Authorized Signatory

 [Signature Page to Registration Rights Agreement] 

 
					
	ADDITIONAL INVESTOR:
	
	JC Clark Patriot Trust
		
	By:	 	/s/ Jennifer Doherty

 
					
		 	Name:	 	Jennifer Doherty
		 	Title:	 	COO + CCO, JC Clark Ltd.

 [Signature Page to Registration Rights Agreement] 

 
					
	ADDITIONAL INVESTOR:
	
	Andora Inc. c/o Alex Davidson
		
	By:	 	/s/ Alex Davidson

 
					
		 	Name:	 	Alex Davidson
		 	Title:	 	President, Andora Inc.

 [Signature Page to Registration Rights Agreement] 

 
					
	ADDITIONAL INVESTOR:
		
	By:	 	/s/ Alexander Washburn

 
					
		 	Name:	 	Alexander Washburn

 [Signature Page to Registration Rights Agreement] 

 
					
	ADDITIONAL INVESTOR:
		
	By:	 	/s/ Brad Shain

 
					
		 	Name:	 	Brad Shain

 [Signature Page to Registration Rights Agreement] 

 Exhibit A 

Adage Capital Partners, L.P. 
 Sankaty Credit Opportunities IV,
L.P. 
 Bain Capital Distressed and Special Situations 2013 (AIV I), L.P. 

Bain Capital Distressed and Special Situations 2013 (AIV II Master), L.P. 

Bain Capital Distressed and Special Situations 2013 (B), L.P. 

Bain Capital Distressed and Special Situations 2016 (A), L.P. 

Bain Capital Distressed and Special Situations 2016 (B Master), L.P. 

Bain Capital Distressed and Special Situations 2016 (F), L.P. 

Bain Capital High Income Partnership, L.P. 
 Bain Capital Credit
Managed Account (E), L.P. 
 Bain Capital Credit Managed Account (PSERS), L.P. 

Bain Capital Credit (Australia) Pty Ltd in its capacity as trustee of QCT 

Future Fund Board of Guardians 
 Clarendon Investment Partners
II, LP 
 Boylston Real Assets Fund, LP 
 Shell Offshore, Inc.

 [Signature Page to Registration Rights Agreement]EX-10.7

 Exhibit 10.7 
  

 
  

AMENDED AND RESTATED CREDIT AGREEMENT 

dated as of December 30, 2016 

among 
 Energy Ventures
GoM LLC, 
 as Borrower, 

EnVen Energy Corporation, 

as Parent, 
 Bank of
Montreal, 
 as Administrative Agent, 

KeyBanc Capital Markets Inc., 

as Syndication Agent, 

ABN AMRO Capital USA LLC, 

as Documentation Agent, 

and 
 The Lenders Party
Hereto 
  
  

 
 BMO Capital Markets Corp., KeyBanc
Capital Markets Inc., 
 and ABN AMRO Capital USA LLC 

Joint Arrangers and Bookrunners 

 TABLE OF CONTENTS 

 

							
	 	  	 	  	Page	 
		  	ARTICLE I	  			
		  	DEFINITIONS AND ACCOUNTING MATTERS	  			
	 Section 1.01.
	  	Terms Defined Above	  	 	1	 
	 Section 1.02.
	  	Certain Defined Terms	  	 	1	 
	 Section 1.03.
	  	Types of Loans and Borrowings	  	 	38	 
	 Section 1.04.
	  	Terms Generally; Rules of Construction	  	 	38	 
	 Section 1.05.
	  	Accounting Terms and Determinations; GAAP	  	 	39	 
			
		  	ARTICLE II	  			
		  	THE CREDITS	  			
	 Section 2.01.
	  	Commitments	  	 	39	 
	 Section 2.02.
	  	Loans and Borrowings	  	 	39	 
	 Section 2.03.
	  	Requests for Borrowings	  	 	40	 
	 Section 2.04.
	  	Interest Elections	  	 	41	 
	 Section 2.05.
	  	Funding of Borrowings	  	 	42	 
	 Section 2.06.
	  	Termination and Reduction of Aggregate Maximum Credit Amounts;	  			
		  	Optional Increase and Reduction of Aggregate Elected Commitments	  	 	43	 
	 Section 2.07.
	  	Borrowing Base	  	 	46	 
	 Section 2.08.
	  	Letters of Credit	  	 	50	 
			
		  	ARTICLE III	  			
		  	PAYMENTS OF PRINCIPAL AND INTEREST; PREPAYMENTS; FEES	  			
	 Section 3.01.
	  	Repayment of Loans	  	 	55	 
	 Section 3.02.
	  	Interest	  	 	55	 
	 Section 3.03.
	  	Alternate Rate of Interest	  	 	56	 
	 Section 3.04.
	  	Prepayments	  	 	56	 
	 Section 3.05.
	  	Fees	  	 	59	 
			
		  	ARTICLE IV	  			
		  	Payments; Pro Rata Treatment; Sharing of Set-offs	  			
	 Section 4.01.
	  	Payments Generally; Pro Rata Treatment; Sharing of Set-offs	  	 	60	 
	 Section 4.02.
	  	Presumption of Payment by the Borrower	  	 	61	 
	 Section 4.03.
	  	Certain Deductions by the Administrative Agent	  	 	61	 
	 Section 4.04.
	  	Disposition of Proceeds	  	 	62	 
	 Section 4.05.
	  	Defaulting Lenders	  	 	62	 

  
 i 

							
	 	  	ARTICLE V	  	 	 
	INCREASED COSTS; BREAK FUNDING PAYMENTS; TAXES; ILLEGALITY	  	 	 
	 Section 5.01.
	  	Increased Costs	  	 	64	 
	 Section 5.02.
	  	Break Funding Payments	  	 	65	 
	 Section 5.03.
	  	Taxes	  	 	66	 
	 Section 5.04.
	  	Mitigation Obligations; Replacement of Lenders	  	 	70	 
	 Section 5.05.
	  	Illegality	  	 	71	 
			
	 	  	ARTICLE VI	  	 	 
	 	  	CONDITIONS PRECEDENT	  	 	 
	 Section 6.01.
	  	Effective Date	  	 	71	 
	 Section 6.02.
	  	Each Credit Event	  	 	75	 
			
	 	  	ARTICLE VII	  	 	 
	 	  	REPRESENTATIONS AND WARRANTIES	  	 	 
	 Section 7.01.
	  	Organization; Powers	  	 	75	 
	 Section 7.02.
	  	Authority; Enforceability	  	 	76	 
	 Section 7.03.
	  	Approvals; No Conflicts	  	 	76	 
	 Section 7.04.
	  	Financial Condition; No Material Adverse Change	  	 	76	 
	 Section 7.05.
	  	Litigation	  	 	77	 
	 Section 7.06.
	  	Environmental Matters	  	 	77	 
	 Section 7.07.
	  	Compliance with the Laws and Agreements; No Defaults	  	 	78	 
	 Section 7.08.
	  	Investment Company Act	  	 	79	 
	 Section 7.09.
	  	Taxes	  	 	79	 
	 Section 7.10.
	  	ERISA	  	 	79	 
	 Section 7.11.
	  	Disclosure; No Material Misstatements	  	 	80	 
	 Section 7.12.
	  	Insurance	  	 	80	 
	 Section 7.13.
	  	Restriction on Liens	  	 	80	 
	 Section 7.14.
	  	Subsidiaries; Foreign Operations	  	 	81	 
	 Section 7.15.
	  	Location of Business and Offices	  	 	81	 
	 Section 7.16.
	  	Properties; Titles, Etc.	  	 	81	 
	 Section 7.17.
	  	Maintenance of Properties	  	 	82	 
	 Section 7.18.
	  	Gas Imbalances, Prepayments	  	 	83	 
	 Section 7.19.
	  	Marketing of Production	  	 	83	 
	 Section 7.20.
	  	Swap Agreements	  	 	83	 
	 Section 7.21.
	  	Use of Loans and Letters of Credit	  	 	83	 
	 Section 7.22.
	  	Solvency	  	 	84	 

  
 ii 

							
	 Section 7.23.
	  	Money Laundering	  	 	84	 
	 Section 7.24.
	  	Anti-Corruption Laws; Sanctions	  	 	84	 
	 Section 7.25.
	  	Security Documents	  	 	85	 
	 Section 7.26.
	  	Accounts	  	 	85	 
	 Section 7.27.
	  	Acquisition Documents	  	 	85	 
			
		  	ARTICLE VIII	  			
		  	AFFIRMATIVE COVENANTS	  			
	 Section 8.01.
	  	Financial Statements; Other Information	  	 	86	 
	 Section 8.02.
	  	Notices of Material Events	  	 	90	 
	 Section 8.03.
	  	Existence; Conduct of Business	  	 	90	 
	 Section 8.04.
	  	Payment of Obligations	  	 	91	 
	 Section 8.05.
	  	Performance of Obligations under Loan Documents	  	 	91	 
	 Section 8.06.
	  	Operation and Maintenance of Properties	  	 	91	 
	 Section 8.07.
	  	Insurance	  	 	92	 
	 Section 8.08.
	  	Books and Records; Inspection Rights	  	 	92	 
	 Section 8.09.
	  	Compliance with Laws	  	 	92	 
	 Section 8.10.
	  	Environmental Matters	  	 	93	 
	 Section 8.11.
	  	Further Assurances	  	 	94	 
	 Section 8.12.
	  	Reserve Reports	  	 	94	 
	 Section 8.13.
	  	Title Information	  	 	95	 
	 Section 8.14.
	  	Additional Collateral; Additional Guarantors	  	 	96	 
	 Section 8.15.
	  	ERISA Compliance	  	 	97	 
	 Section 8.16.
	  	Minimum Hedging	  	 	97	 
	 Section 8.17.
	  	More Favorable Financial Covenants	  	 	97	 
	 Section 8.18.
	  	Accounts	  	 	98	 
	 Section 8.19.
	  	Consolidated Cash Balance Information	  	 	99	 
	 Section 8.20.
	  	Post-Effective Date Requirements	  	 	99	 
			
		  	ARTICLE IX	  			
		  	NEGATIVE COVENANTS	  			
	 Section 9.01.
	  	Financial Covenants	  	 	99	 
	 Section 9.02.
	  	Debt	  	 	101	 
	 Section 9.03.
	  	Liens	  	 	103	 
	 Section 9.04.
	  	Dividends, Distributions and Redemptions; Repayment of Second Lien Loans	  	 	103	 
	 Section 9.05.
	  	Investments, Loans and Advances	  	 	106	 

  
 iii 

							
	 Section 9.06.
	  	Nature of Business; International Operations	  	 	107	 
	 Section 9.07.
	  	Proceeds of Loans	  	 	108	 
	 Section 9.08.
	  	Sale or Discount of Receivables	  	 	108	 
	 Section 9.09.
	  	Mergers, Etc.	  	 	108	 
	 Section 9.10.
	  	Sale of Properties	  	 	109	 
	 Section 9.11.
	  	Transactions with Affiliates	  	 	110	 
	 Section 9.12.
	  	Negative Pledge Agreements; Dividend Restrictions	  	 	111	 
	 Section 9.13.
	  	Gas Imbalances, Take-or-Pay or Other Prepayments	  	 	111	 
	 Section 9.14.
	  	Swap Agreements	  	 	111	 
	 Section 9.15.
	  	Marketing Activities	  	 	112	 
	 Section 9.16.
	  	Sale and Leasebacks	  	 	112	 
	 Section 9.17.
	  	Fiscal Year	  	 	112	 
	 Section 9.18.
	  	New Accounts	  	 	112	 
	 Section 9.19.
	  	Passive Holding Company Status of Parent	  	 	113	 
			
		  	ARTICLE X	  			
		  	EVENTS OF DEFAULT; REMEDIES	  			
	 Section 10.01.
	  	Events of Default	  	 	113	 
	 Section 10.02.
	  	Remedies	  	 	115	 
			
		  	ARTICLE XI	  			
		  	THE AGENTS	  			
	 Section 11.01.
	  	Appointment; Powers	  	 	117	 
	 Section 11.02.
	  	Duties and Obligations of Administrative Agent	  	 	117	 
	 Section 11.03.
	  	Action by Administrative Agent	  	 	118	 
	 Section 11.04.
	  	Reliance by Administrative Agent	  	 	118	 
	 Section 11.05.
	  	Subagents	  	 	119	 
	 Section 11.06.
	  	Resignation of Administrative Agent	  	 	119	 
	 Section 11.07.
	  	Agents as Lenders	  	 	119	 
	 Section 11.08.
	  	No Reliance	  	 	119	 
	 Section 11.09.
	  	Administrative Agent May File Proofs of Claim	  	 	120	 
	 Section 11.10.
	  	Authority of Administrative Agent to Release Collateral and Liens	  	 	121	 
	 Section 11.11.
	  	The Arranger, the Syndication Agent and the Documentation Agent	  	 	121	 

  
 iv 

							
		  	ARTICLE XII	  			
		  	MISCELLANEOUS	  			
	 Section 12.01.
	  	Notices	  	 	121	 
	 Section 12.02.
	  	Waivers; Amendments	  	 	122	 
	 Section 12.03.
	  	Expenses, Indemnity; Damage Waiver	  	 	124	 
	 Section 12.04.
	  	Successors and Assigns	  	 	126	 
	 Section 12.05.
	  	Survival; Revival; Reinstatement	  	 	130	 
	 Section 12.06.
	  	Counterparts; Integration; Effectiveness	  	 	131	 
	 Section 12.07.
	  	Severability	  	 	131	 
	 Section 12.08.
	  	Right of Setoff	  	 	131	 
	 Section 12.09.
	  	GOVERNING LAW; JURISDICTION; CONSENT TO SERVICE OF PROCESS	  	 	132	 
	 Section 12.10.
	  	Headings	  	 	133	 
	 Section 12.11.
	  	Confidentiality	  	 	133	 
	 Section 12.12.
	  	Interest Rate Limitation	  	 	133	 
	 Section 12.13.
	  	EXCULPATION PROVISIONS	  	 	134	 
	 Section 12.14.
	  	Collateral Matters; Swap Agreements and Secured Cash Management Agreements	  	 	135	 
	 Section 12.15.
	  	No Third Party Beneficiaries	  	 	135	 
	 Section 12.16.
	  	Flood Insurance	  	 	135	 
	 Section 12.17.
	  	USA Patriot Act Notice	  	 	135	 
	 Section 12.18.
	  	Acknowledgement and Consent to Bail-In EEA Financial Institutions	  	 	136	 
	 Section 12.19.
	  	INTERCREDITOR AGREEMENT	  	 	136	 
	 Section 12.20.
	  	Reinstatement: Existing Credit Agreement; Reallocations	  	 	137	 
	 Section 12.21.
	  	Incremental Second Lien Facility Documents	  	 	137	 

  
 v 

 ANNEXES, EXHIBITS AND SCHEDULES 

 

			
	 Annex I
	  	List of Maximum Credit Amounts
	 Exhibit A
	  	Form of Note
	 Exhibit B
	  	Form of Borrowing Request
	 Exhibit C
	  	Form of Interest Election Request
	 Exhibit D
	  	Form of Compliance Certificate
	 Exhibit E
	  	Security Instruments
	 Exhibit F
	  	Form of Assignment and Assumption
	 Exhibit G-1
	  	Form of U.S. Tax Compliance Certificate (For Non-U.S. Lenders That Are Not Partnerships For U.S. Federal Income Tax Purposes)
	 Exhibit G-2
	  	Form of U.S. Tax Compliance Certificate (For Non-U.S. Lenders That Are Partnerships For U.S. Federal Income Tax Purposes)
	 Exhibit G-3
	  	Form of U.S. Tax Compliance Certificate (For Non-U.S. Participants That Are Not Partnerships For U.S. Federal Income Tax Purposes)
	 Exhibit G-4
	  	Form of U.S. Tax Compliance Certificate (For Non-U.S. Participants That Are Partnerships For U.S. Federal Income Tax Purposes)
	 Exhibit H-1
	  	Form of Maximum Credit Amount Increase Agreement
	 Exhibit H-2
	  	Form of Additional Lender Agreement
	 Exhibit I
	  	Form of Consolidated Cash Balance Certificate
		
	 Schedule 7.05
	  	Litigation
	 Schedule 7.06
	  	Environmental Matters
	 Schedule 7.14
	  	Subsidiaries and Partnerships
	 Schedule 7.18
	  	Gas Imbalances
	 Schedule 7.19
	  	Marketing Contracts
	 Schedule 7.20
	  	Swap Agreements
	 Schedule 7.26
	  	Accounts
	 Schedule 9.02
	  	Debt
	 Schedule 9.03
	  	Liens
	 Schedule 9.05
	  	Investments
	 Schedule 9.11
	  	Transactions with Affiliates

  
 vi 

 THIS AMENDED AND RESTATED CREDIT AGREEMENT dated as of December 30, 2016, is
among: Energy Ventures GoM LLC, a Delaware limited liability company (the “Borrower”); EnVen Energy Corporation, a Delaware corporation (the “Parent”), each of the Lenders from time to time party hereto; Bank of
Montreal (in its individual capacity, “BMO”), as administrative agent for the Lenders (in such capacity, together with its successors in such capacity, the “Administrative Agent”), KeyBanc Capital Markets Inc., as
syndication agent for the Lenders (in such capacity, together with its successors in such capacity, the “Syndication Agent”) and ABN AMRO Capital USA LLC, as documentation agent (in such capacity, together with its successors in
such capacity, the “Documentation Agent”). 
 RECITALS 

A. The Parent, the Borrower, the Administrative Agent, the other agents party thereto, and the Lenders parties thereto entered into that
certain Credit Agreement, dated as of July 29, 2014, as amended by that certain First Amendment to Credit Agreement dated as of August 21, 2014 and that certain Second Amendment to Credit Agreement dated as of October 30, 2015 (the
“Existing Credit Agreement”). 
 B. The Borrower has requested that the Lenders amend, restate, modify, extend, renew and
restructure the loans and other extensions of credit made pursuant to the Existing Credit Agreement. 
 C. The parties hereto intend that
(a) the Secured Obligations (as defined in the Existing Credit Agreement) which remain unpaid and outstanding as of the Effective Date (which shall include the loans outstanding on the Effective Date under the Existing Credit Agreement) shall
continue to exist under this Agreement on the terms set forth herein, (b) the loans under the Existing Credit Agreement, outstanding as of the Effective Date shall be Loans under and as defined in this Agreement on the terms set forth herein,
and (c) the Collateral (as defined in the Existing Credit Agreement) and the Security Instruments (as defined in the Existing Credit Agreement) shall continue to secure, guarantee, support and otherwise benefit the Secured Obligations of the
Borrower and the other Loan Parties under this Agreement, in each case, on and subject to the terms and conditions of this Agreement. 
 D.
Now, therefore, in consideration of the mutual covenants and agreements herein contained and of the loans, extensions of credit and commitments hereinafter referred to, the parties hereto agree as follows: 

ARTICLE I  
 DEFINITIONS
AND ACCOUNTING MATTERS 
 Section 1.01. Terms Defined Above. As used in this Agreement, each term defined above has the
meaning indicated above. 
 Section 1.02. Certain Defined Terms. As used in this Agreement, the following terms have the
meanings specified below: 
 “AA Fee Letter” means that certain fee letter between the Borrower and the Administrative Agent
related to the payment of the administration fee by the Borrower. 

  
 1 

 “ABR”, when used in reference to any Loan or Borrowing, refers to whether
such Loan, or the Loans comprising such Borrowing, are bearing interest at a rate determined by reference to the Alternate Base Rate. 

“Acquisition” means the acquisition of the Acquisition Properties pursuant to the Acquisition Documents. 

“Acquisition Documents” means (a) the Asset Purchase Agreement between EnVen Opco and Shell Offshore dated as of
August 27, 2016, as amended by (i) that certain First Amendment to Asset Purchase Agreement dated as of November 1, 2016, (ii) that certain Second Amendment to Asset Purchase Agreement dated as of November 18, 2016 and
(iii) that certain Third Amendment to Asset Purchase Agreement dated on or about December 15, 2016, and (b) all bills of sale, assignments, agreements, instruments and documents executed and delivered in connection therewith, as
amended. 
 “Acquisition Properties” means the Oil and Gas Properties and other Properties acquired by EnVen Opco pursuant
to the Acquisition Documents. 
 “Adage” means Adage Capital Management, L.P., a Delaware limited partnership. 

“Additional Financial Covenant” means any affirmative or negative “maintenance” financial covenant contained in any
Other Debt Agreement applicable to the Borrower or any Subsidiary (regardless of whether such provision is labeled or otherwise characterized as a “financial covenant”), including any defined terms as used therein. 

“Additional Lender” has the meaning assigned such term in Section 2.06(c)(ii). 

“Adjusted LIBO Rate” means, with respect to any Eurodollar Borrowing for any Interest Period, an interest rate per annum
(rounded upwards, if necessary, to the next 1/100 of 1%) equal to the LIBO Rate for such Interest Period multiplied by the Statutory Reserve Rate. 

“Administrative Questionnaire” means an Administrative Questionnaire in a form supplied by the Administrative Agent. 

“Affected Loans” has the meaning assigned such term in Section 5.05. 

“Affiliate” means, with respect to a specified Person, another Person that directly, or indirectly through one or more
intermediaries, Controls or is Controlled by or is under common Control with the Person specified. No Person shall be an “Affiliate” of the Parent, the Borrower or any of its Subsidiaries solely because it is an unrelated portfolio company
of a Permitted Holder. 
 “Agents” means, collectively, the Administrative Agent, the Syndication Agent and the
Documentation Agent; and “Agent” means the Administrative Agent, the Syndication Agent or the Documentation Agent, as the context requires. 

“Aggregate Elected Commitments” means, at any time, the amount equal to the sum of the Elected Commitments, as the same may
be increased, reduced or terminated pursuant to Section 2.06(c). On the Effective Date, the amount of the Aggregate Elected Commitments is $220,000,000. 

  
 2 

 “Aggregate Maximum Credit Amounts” at any time means the sum of the Maximum
Credit Amounts, as the same may be reduced or terminated pursuant to Section 2.06. 
 “Agreement” means this Amended
and Restated Credit Agreement, as the same may from time to time be amended, restated, supplemented, or modified. 
 “Alternate Base
Rate” means, for any day, a rate per annum equal to the greatest of (a) the Prime Rate in effect on such day, (b) the Federal Funds Effective Rate in effect on such day plus  1⁄2 of 1% and (c) the Adjusted LIBO Rate for a one month Interest Period on such day (or if such day is not a Business Day, the immediately preceding Business Day) plus 1.0%, provided that, for the avoidance of
doubt, the Adjusted LIBO Rate for any day shall be based on the rate appearing on the Reuters BBA Libor Rates Page LIBOR01 (or any successor or substitute page of such page) at approximately 11:00 a.m., New York time, on such day (or the immediately
preceding Business Day if such day is not a day on which banks are open for dealings in dollar deposits in the London interbank market). Any change in the Alternate Base Rate due to a change in the Prime Rate, the Federal Funds Effective Rate or the
Adjusted LIBO Rate shall be effective from and including the effective date of such change in the Prime Rate, the Federal Funds Effective Rate or the Adjusted LIBO Rate, respectively. 

“Anti-Corruption Laws” means all laws, rules, and regulations of any jurisdiction applicable to the Parent, the Borrower or
its Subsidiaries from time to time concerning or relating to bribery or corruption, including the United States Foreign Corrupt Practices Act of 1977, as amended. 

“Applicable Margin” means, for any day, with respect to any ABR Loan or Eurodollar Loan, the rate per annum set forth in the
grid below based upon the Commitment Utilization Percentage then in effect: 
  

																					
	 Commitment Utilization Percentage
	  	<25%	 	 	>25%<50%	 	 	>50%<75%	 	 	>75%<90%	 	 	>90%	 
	 ABR Loans
	  	 	2.25	% 	 	 	2.50	% 	 	 	2.75	% 	 	 	3.00	% 	 	 	3.25	% 
	 Eurodollar Loans
	  	 	3.25	% 	 	 	3.50	% 	 	 	3.75	% 	 	 	4.00	% 	 	 	4.25	% 

 Each change in the Applicable Margin shall apply during the period commencing on the effective date of such
change and ending on the date immediately preceding the effective date of the next such change; provided that if at any time the Borrower fails to deliver a Reserve Report pursuant to Section 8.12(a), then the “Applicable
Margin” means the rate per annum set forth on the grid when the Commitment Utilization Percentage is at its highest level; provided further that the Applicable Margin shall revert to the relevant Applicable Margin (determined by
reference to the grid above) upon the Borrower’s delivery of such Reserve Report. 

  
 3 

 “Applicable Percentage” means, with respect to any Lender, at any time, the
percentage of the Aggregate Maximum Credit Amounts represented by such Lender’s Maximum Credit Amount; provided that if the Commitments have terminated or expired, the Applicable Percentages shall be determined based upon the Commitments most
recently in effect. The initial Applicable Percentage of each Lender is set forth on Annex I. 
 “Approved Counterparty”
means (a) any Lender or any Affiliate of a Lender and (b) any other Person whose long term senior unsecured debt rating at the time of entering into the Swap Agreement is A/A3 by S&P or Moody’s (or their equivalent) or higher.

 “Approved Fund” means any Person (other than a natural person) that is engaged in making, purchasing, holding or
investing in bank loans and similar extensions of credit in the ordinary course of its business and that is administered or managed by (a) a Lender, (b) an Affiliate of a Lender or (c) an entity or an Affiliate of an entity that
administers or manages a Lender. 
 “Approved Petroleum Engineers” means (a) Netherland, Sewell & Associates,
Inc., (b) Ryder Scott Company, LP, (c) DeGolyer & MacNaughton and (d) any other independent petroleum engineers reasonably acceptable to the Administrative Agent. 

“Arranger” means each of BMO Capital Markets Corp., KeyBanc Capital Markets Inc., and ABN AMRO Capital USA LLC in their
capacities as joint arrangers and bookrunners hereunder. 
 “Assignment and Assumption” means an assignment and assumption
entered into by a Lender and an assignee (with the consent of any party whose consent is required by Section 12.04(b)), and accepted by the Administrative Agent, in the form of Exhibit F or any other form approved by the Administrative Agent. 

“Availability” means, at any time of determination, the amount, if any, by which (a) the lesser of the Borrowing Base
and the Commitments exceeds (b) the Revolving Credit Exposure of all Lenders. 
 “Availability Period” means the
period from and including the Effective Date to but excluding the Termination Date. 
 “Average Life” means, when applied
to any Debt at any date of determination, the number of years obtained by dividing: (a) the sum of the products obtained by multiplying (i) the amount of each then remaining installment, sinking fund, serial maturity or other required
payments of principal, including payment at final maturity, in respect thereof, by (ii) the number of years (calculated to the nearest one-twelfth) that will elapse between such date and the making of
such payment; by (b) the then outstanding principal amount of such Debt. 
 “Bail-In
Action” means the exercise of any Write-Down and Conversion Powers by the applicable EEA Resolution Authority in respect of any liability of an EEA Financial Institution. 

“Bail-In Legislation” means, with respect to any EEA Member Country implementing
Article 55 of Directive 2014/59/EU of the European Parliament and of the Council of the European Union, the implementing law for such EEA Member Country from time to time which is described in the EU Bail-In
Legislation Schedule. 

  
 4 

 “Bain” means Bain Capital Credit, LP, a Delaware limited partnership. 

“Board” means the Board of Governors of the Federal Reserve System of the United States of America or any successor
Governmental Authority. 
 “Borrower LLC Agreement” means that certain Amended and Restated Limited Liability Company
Agreement of the Borrower, dated November 4, 2015, as the same may be amended, supplemented, restated or otherwise modified from time to time. 

“Borrowing” means Loans of the same Type, made, converted or continued on the same date and, in the case of Eurodollar Loans,
as to which a single Interest Period is in effect. 
 “Borrowing Base” means at any time an amount equal to the loan value
of the Borrower’s and its Subsidiaries’ proved reserves attributable to the Oil and Gas Properties evaluated in the most recently delivered Reserve Report determined in accordance with Section 2.07, as the same may be adjusted from time to
time pursuant to Section 2.07(e), Section 2.07(f), Section 2.07(g), Section 2.07(h), or Section 8.13(c). 

“Borrowing Base Deficiency” occurs if at any time the total Revolving Credit Exposures exceeds the lesser of (a) the
Borrowing Base then in effect and (b) the Aggregate Elected Commitments then in effect. The amount of the Borrowing Base Deficiency is the amount by which the total Revolving Credit Exposures exceeds the lesser of (i) the Borrowing Base
then in effect and (ii) the Aggregate Elected Commitments then in effect. 
 “Borrowing Base Properties” means the Oil
and Gas Properties of the Loan Parties included in the Initial Reserve Report and thereafter in the Reserve Report most recently delivered hereunder. 

“Borrowing Request” means a request by the Borrower for a Borrowing in accordance with Section 2.03. 

“Business Day” means any day that is not a Saturday, Sunday or other day on which commercial banks in Houston, Texas are
authorized or required by law to remain closed; and if such day relates to a Borrowing or continuation of, a payment or prepayment of principal of or interest on, or a conversion of or into, or the Interest Period for, a Eurodollar Loan or a notice
by the Borrower with respect to any such Borrowing or continuation, payment, prepayment, conversion or Interest Period, any day which is also a day on which banks are open for dealings in dollar deposits in the London interbank market. 

“Calculation Date” has the meaning assigned to such term in the definition of Pro Forma Adjustment. 

“Cap Amount” has the meaning assigned such term in the Intercreditor Agreement. 

  
 5 

 “Capital Leases” means, in respect of any Person, all leases that are or
should be, in accordance with GAAP, recorded as capital leases on the balance sheet of the Person liable (whether contingent or otherwise) for the payment of rent thereunder. Any lease that was treated as an operating lease under GAAP at the time it
was entered into that later becomes a capital lease as a result of a change in GAAP during the life of such lease, including any renewals, shall be treated as an operating lease for all purposes under this Agreement, and any lease that was treated
as a capital lease under GAAP at the time it was entered into that later becomes an operating lease as a result of a change in GAAP during the life of such lease, including any renewals, shall be treated as a capital lease for all purposes under
this Agreement. 
 “Cash Equivalents” means: 

(a) direct obligations of, or obligations the principal of and interest on which are unconditionally guaranteed by, the United States of
America (or by any agency thereof to the extent such obligations are backed by the full faith and credit of the United States of America), in each case maturing within one year from the date of issuance thereof; 

(b) commercial paper maturing within 180 days from the date of issuance thereof and having, at such date of acquisition, the highest credit
rating obtainable from S&P or from Moody’s; 
 (c) certificates of deposit, banker’s acceptances and time deposits maturing
within one year from the date of acquisition thereof issued or guaranteed by or placed with, and money market deposit accounts issued or offered by, the Administrative Agent or any domestic office of any commercial bank organized under the laws of
the United States of America or any State thereof or the District of Columbia that has a combined capital and surplus and undivided profits of not less than $500,000,000 and that issues (or the parent of which issues) commercial paper rated at least
“Prime-1” (or the then equivalent grade) by Moody’s or “A-1” (or the then equivalent grade) by S&P; 

(d) fully collateralized repurchase agreements with a term of not more than 30 days for securities described in clause (a) above and
entered into with a financial institution satisfying the criteria of clause (c) above; and 
 (e) investments in “money market
funds” within the meaning of Rule 2a-7 of the Investment Company Act of 1940, as amended, substantially all of whose assets are invested in investments of the type described in clauses (a) through
(d) above. 
 “Cash Management Agreement” means any agreement to provide Cash Management Services. 

“Cash Management Services” means any one or more of the following types of services or facilities: (i) ACH transactions,
(ii) treasury and/or cash management services, including, without limitation, controlled disbursement services, (iii) foreign exchange facilities, (iv) credit or debit cards, (v) deposit and other accounts and (vi) merchant
services (other than those constituting a line of credit). 

  
 6 

 “Cash Receipts” means all cash received by or on behalf of the Borrower or
any Subsidiary, including without limitation: (a) amounts payable under or in connection with any Oil and Gas Properties; (b) cash representing operating revenue earned or to be earned by the Borrower or any Subsidiary; (c) proceeds
from Loans; and (d) any other cash received by or on behalf of the Borrower or any Subsidiary from whatever source (including amounts received in respect of the Liquidation of any Swap Agreement and amounts received in respect of any
Disposition of Property); provided that “Cash Receipts” shall not include liability insurance proceeds required to be paid directly to third parties. 

“Casualty Event” means any loss, casualty or other damage to, or any nationalization, taking under power of eminent domain or
by condemnation or similar proceeding of, any Oil and Gas Property of the Borrower or any of its Subsidiaries having an estimated dollar amount in excess of $10,000,000. 

“Change in Control” shall be deemed to occur if (a) at any time any Person or “group” (within the meaning of
Section 13(d) or 14(d) of the Securities Exchange Act of 1934 (the “Exchange Act”) and the rules of the SEC thereunder as in effect on the Effective Date, but excluding any employee benefit plan of such Person or group and its
Subsidiaries and any Person or entity acting in its capacity as trustee, agent or other fiduciary or administrator of any such plan), other than the Permitted Holders, shall at any time have acquired direct or indirect beneficial ownership (as
defined in Rules 13(d)-3 and 13(d)-5 under the Exchange Act) of more than 50% of the outstanding Voting Stock of the Borrower (including, for the avoidance of doubt,
through any direct or indirect ownership of a Permitted Holder described in clause (h) or (i) of the definition of “Permitted Holder”), or (b) at any time prior to a Qualified Equity Offering, and except in connection with a
Qualified Equity Offering, the Permitted Holders shall cease to (i) beneficially own or to have the power, directly or indirectly, to vote or direct the voting of, Voting Stock of the Parent representing a majority of the voting power of the
total outstanding Voting Stock of the Parent or (ii) beneficially own, directly or indirectly, Equity Interests representing a majority of the total economic interests of the outstanding Equity Interests of the Parent. 

“Change in Law” means (a) the adoption of any law, rule or regulation after the Effective Date, (b) any change in
any law, rule or regulation or in the interpretation or application thereof by any Governmental Authority after the Effective Date or (c) compliance by any Lender or the Issuing Bank (or, for purposes of Section 5.01(b), by any lending
office of such Lender or by such Lender’s or the Issuing Bank’s holding company, if any) with any request, guideline or directive (whether or not having the force of law) of any Governmental Authority made or issued after the Effective
Date; provided that notwithstanding anything herein to the contrary, (x) the Dodd-Frank Wall Street Reform and Consumer Protection Act and all requests, rules, guidelines or directives thereunder or issued in connection therewith
and (y) all requests, rules, guidelines or directives promulgated by the Bank for International Settlements, the Basel Committee on Banking Supervision (or any successor or similar authority) or the United States of America or foreign
regulatory authorities, in each case pursuant to Basel III, shall in each case be deemed to be a “Change in Law”, regardless of the date enacted, adopted or issued. 

“Code” means the Internal Revenue Code of 1986, as amended from time to time, and any successor statute. 

  
 7 

 “Collateral” has the meaning assigned such term in the Intercreditor
Agreement. 
 “Commitment” means, with respect to each Lender at any time, the commitment of such Lender to make Loans and
to acquire participations in Letters of Credit hereunder, as such commitment may be (a) modified from time to time pursuant to Section 2.06 and (b) modified from time to time pursuant to assignments by or to such Lender pursuant to
Section 12.04(b) and “Commitments” means the aggregate of the Commitment of each Lender. The amount representing each Lender’s Commitment shall at any time be the least of (a) such Lender’s Maximum Credit Amount,
(b) such Lender’s Applicable Percentage of the then effective Borrowing Base, and (c) such Lender’s Elected Commitment. 

“Commitment Utilization Percentage” means, as of any day, the fraction expressed as a percentage, the numerator of which is
the sum of the Revolving Credit Exposures of the Lenders on such day, and the denominator of which is the Commitments of all Lenders in effect on such day. 

“Commodity Account” has the meaning assigned to such term in the UCC. 

“Commodity Exchange Act” means the Commodity Exchange Act (7 U.S.C. § 1 et seq.), as amended from time to time, and any
successor statute. 
 “Consolidated Cash Balance” means, at any time, the aggregate amount of cash, Cash Equivalents,
marketable securities, treasury bonds and bills, certificates of deposit, investments in money market funds and commercial paper, in each case, held or owned by (whether directly or indirectly), credited to the account of, or otherwise reflected as
an asset on the balance sheet of, the Borrower and its Subsidiaries, in each case, other than Excluded Cash. 
 “Consolidated Cash
Balance Borrowing Threshold” means $25,000,000. 
 “Consolidated Cash Balance Prepayment Threshold” means
$75,000,000. 
 “Consolidated Net Income” means with respect to the Borrower and its Consolidated Subsidiaries, for any
period, the aggregate of the net income (or loss) of the Borrower and its Consolidated Subsidiaries after allowances for Taxes for such period determined on a consolidated basis in accordance with GAAP; provided that there shall be excluded
from such net income (or loss) (to the extent otherwise included therein) the following: (a) the net income (or loss) of any Person in which the Borrower or any of its Consolidated Subsidiaries has an interest (which interest does not cause the
net income of such other Person to be consolidated with the net income of the Borrower and its Consolidated Subsidiaries in accordance with GAAP), except to the extent of the amount of dividends or distributions actually paid in cash during such
period by such other Person to the Borrower or to any of its Consolidated Subsidiaries, as the case may be; (b) the net income (but not loss) during such period of any of the Borrower’s Consolidated Subsidiaries to the extent that the
declaration or payment of dividends or similar distributions or transfers or loans by such Consolidated Subsidiary is not at the time permitted by operation of the terms of its charter or any agreement, instrument or Governmental Requirement
applicable to such Consolidated Subsidiary or is otherwise consensually restricted or prohibited; (c) any extraordinary non-cash gains or losses during such period,
(d) non-cash gains, losses or adjustments, including non-cash gains, losses or adjustments 

  
 8 

 
under authoritative guidance from the FASB as a result of changes in the fair market value of derivatives and any gains or losses attributable to writeups or writedowns of assets, including
ceiling test writedowns and writedowns under authoritative guidance from the FASB as a result of accounting for oil and gas activities, goodwill and other intangible assets, and property, plant and equipment (for the avoidance of doubt, realized
gains or losses will be counted in Consolidated Net Income in the quarter that cash is actually received or paid); (e) any non-cash employee based compensation; and (f) any gain or loss realized in connection
with asset sales. 
 “Consolidated Subsidiaries” means (a) when used in reference to the Borrower, each Subsidiary of
the Borrower (whether now existing or hereafter created or acquired) the financial statements of which shall be (or should have been) consolidated with the financial statements of the Borrower in accordance with GAAP and (b) when used in
reference to the Parent, each subsidiary of the Parent (including the Borrower) (whether now existing or hereafter created or acquired) the financial statements of which shall be (or should have been) consolidated with the financial statements of
the Parent in accordance with GAAP. 
 “Control” means the possession, directly or indirectly, of the power to direct or
cause the direction of the management or policies of a Person, whether through the ability to exercise voting power, by contract or otherwise. For the purposes of this definition, and without limiting the generality of the foregoing, any Person that
owns directly or indirectly 25% or more of the Equity Interests having ordinary voting power for the election of the directors or other governing body of a Person (other than as a limited partner of such other Person) will be deemed to
“control” such other Person. “Controlling” and “Controlled” have meanings correlative thereto. 

“Control Agreement” means a control agreement, in form and substance reasonably satisfactory to Administrative Agent,
providing for the Administrative Agent’s exclusive control of a Deposit Account, Securities Account or Commodity Account, as applicable, after notice as provided therein, executed and delivered by the Borrower or a Subsidiary, as applicable,
and the applicable securities intermediary (with respect to a Securities Account), bank (with respect to a Deposit Account) or commodity intermediary (with respect to a Commodity Account), in each case at which such relevant account is maintained,
as the same may be amended, restated, replaced, supplemented or otherwise modified from time to time. For purposes of this definition, “control” means “control” within the meaning of the UCC. 

“Cure Period” has the meaning assigned such term in Section 9.01(d). 

“Cure Right” has the meaning assigned to such term in Section 9.01(d). 

“Debt” means, for any Person, the sum of the following (without duplication): (a) all obligations of such Person for borrowed
money or evidenced by bonds, bankers’ acceptances, debentures, notes or other similar instruments; (b) all obligations of such Person (whether contingent or otherwise) in respect of letters of credit, surety or other bonds and similar
instruments; (c) all accounts payable and all accrued expenses, liabilities or other obligations of such Person to pay the deferred purchase price of Property or services (other than earn-out obligations
and liabilities of such Person to trade creditors arising in the ordinary course of business (including guarantees thereof or instruments evidencing such liabilities) that are either (i) not greater than 90 days past due or (ii) are being
contested in good faith by appropriate 

  
 9 

 
proceedings and adequate reserves therefore have been established under GAAP); (d) the principal component of obligations under Capital Leases; (e) all obligations under Synthetic Leases;
(f) all Debt (as defined in the other clauses of this definition) of others secured by (or for which the holder of such Debt has an existing right, contingent or otherwise, to be secured by) a Lien on any Property of such Person, whether or not
such Debt is assumed by such Person; (g) all Debt (as defined in the other clauses of this definition) of others guaranteed by such Person or in which such Person otherwise assures a creditor against loss of the Debt (howsoever such assurance
shall be made) to the extent of the lesser of the amount of such Debt and the maximum stated amount of such guarantee or assurance against loss; (h) all obligations or undertakings of such Person to maintain or cause to be maintained the
financial position or covenants of others or to purchase the Debt or Property of others; (i) obligations to deliver commodities, goods or services, including, without limitation, Hydrocarbons, in consideration of one or more advance payments,
other than gas balancing agreements in the ordinary course of business; (j) obligations to pay for goods or services even if such goods or services are not actually received or utilized by such Person, excluding payables for AFEs and suspended
royalty payments; (k) any Debt of a partnership for which such Person is liable either by agreement, by operation of law or by a Governmental Requirement but only to the extent of such liability; (l) Disqualified Capital Stock; and
(m) the undischarged balance of any production payment created by such Person or for the creation of which such Person directly or indirectly received payment. The Debt of any Person shall include all obligations of such Person of the character
described above to the extent such Person remains legally liable in respect thereof notwithstanding that any such obligation is not included as a liability of such Person under GAAP. 

For the avoidance of doubt, “Debt” does not include obligations in respect of Swap Agreements, indemnities incurred in the ordinary
course of business or in connection with the disposition of assets, any employee or director compensation, any compensation paid to employees or directors pursuant to stock appreciation rights, or obligations under operating leases. 

“Decommissioning Financial Responsibility” means a surety bond, guaranty, or other form of financial security required under
OCSLA for Outer Continental Shelf facilities to demonstrate financial ability to pay for decommissioning activities to remove all facilities and restore the site to its pre-lease state. 

“Default” means any event or condition which constitutes an Event of Default or which upon notice, lapse of time or both
would, unless cured or waived, become an Event of Default. 
 “Defaulting Lender” means any Lender that (a) has failed
to (i) fund all or any portion of its Loans within two Business Days of the date such Loans were required to be funded hereunder unless such Lender notifies the Administrative Agent and the Borrower in writing that such failure is the result of
such Lender’s determination that one or more conditions precedent to funding (each of which conditions precedent, together with any applicable default, shall be specifically identified in such writing) has not been satisfied, or (ii) pay
to the Administrative Agent, the Issuing Bank or any other Lender any other amount required to be paid by it hereunder (including in respect of its participation in Letters of Credit) within two Business Days of the date when due, (b) has
notified the Borrower, the Administrative Agent or the Issuing Bank in writing that it does not intend to comply with its funding obligations hereunder, or has 

  
 10 

 
made a public statement to that effect (unless such writing or public statement relates to such Lender’s obligation to fund a Loan hereunder and states that such position is based on such
Lender’s determination that a condition precedent to funding (which condition precedent, together with any applicable default, shall be specifically identified in such writing or public statement) cannot be satisfied), (c) has failed, within
three Business Days after written request by the Administrative Agent or the Borrower, to confirm in writing to the Administrative Agent and the Borrower that it will comply with its prospective funding obligations hereunder (provided that
such Lender shall cease to be a Defaulting Lender pursuant to this clause (c) upon receipt of such written confirmation by the Administrative Agent and the Borrower), (d) has, or has a direct or indirect parent company that has,
(i) become the subject of a proceeding under any debtor relief law, or (ii) had appointed for it a receiver, custodian, conservator, trustee, administrator, assignee for the benefit of creditors or similar Person charged with
reorganization or liquidation of its business or assets, including the Federal Deposit Insurance Corporation or any other state or federal regulatory authority acting in such a capacity; provided that a Lender shall not be a Defaulting Lender
solely by virtue of the ownership or acquisition of any equity interest in that Lender or any direct or indirect parent company thereof by a Governmental Authority so long as such ownership interest does not result in or provide such Lender with
immunity from the jurisdiction of courts within the United States of America or from the enforcement of judgments or writs of attachment on its assets or permit such Lender (or such Governmental Authority) to reject, repudiate, disavow or disaffirm
any contracts or agreements made with such Lender, or (e) has, or has a direct or indirect parent company that has, become the subject of a Bail-In Action. Any determination by the Administrative Agent
that a Lender is a Defaulting Lender under clauses (a) through (e) above shall be made in the Administrative Agent’s reasonable discretion, and such Lender shall be deemed to be a Defaulting Lender upon delivery of written
notice of such determination to the Borrower, the Issuing Bank and each Lender. 
 “Deposit Account” has the meaning
assigned to such term in the UCC. 
 “Disposition” means with respect to any Property, any sale, lease, sale and leaseback
transaction, assignment, farmout, exchange, conveyance, transfer or other disposition (including by way of a merger or consolidation) of such Property or any interest therein (excluding the creation of any Lien not prohibited hereunder); and the
terms “Dispose” and “Disposed of” shall have correlative meanings. 
 “Disqualified Capital Stock”
means any Equity Interest that, by its terms (or by the terms of any security into which it is convertible or for which it is exchangeable) or upon the happening of any event, matures or is mandatorily redeemable (except as a result of a Change in
Control or asset sale so long as any rights of the holders thereof upon the occurrence of a Change in Control or asset sale event shall be subject to the prior repayment in full of the Loans and all other Obligations that are accrued and payable and
the termination of the Commitments and all outstanding Letters of Credit) for any consideration other than other Equity Interests (which would not constitute Disqualified Capital Stock), pursuant to a sinking fund obligation or otherwise, or is
convertible or exchangeable for Debt or redeemable for any consideration other than other Equity Interests (which would not constitute Disqualified Capital Stock) at the option of the holder thereof, in whole or in part, on or prior to the date that
is 91 days after the earlier of (a) the Maturity Date and (b) the date on which there are no Loans, LC Exposure or other obligations hereunder outstanding and all of the Commitments are terminated. 

  
 11 

 “dollars” or “$” refers to lawful money of the United States of
America. 
 “Domestic Subsidiary” means any Subsidiary that is organized under the laws of the United States of America or
any state thereof or the District of Columbia. 
 “EBITDAX” means, for any period, the sum of Consolidated Net Income for
such period plus the following expenses or charges to the extent deducted from Consolidated Net Income in such period: interest, income taxes, depreciation, depletion, amortization (including amortization of deferred financing costs), exploration
expenses, accretion of asset retirement obligations, and other similar noncash charges (excluding any such non-cash charge to the extent that it represents an accrual or reserve for a potential cash charge in
any future period or amortization of a prepaid cash charge that was paid in a prior period), minus all noncash income included in the calculation of Consolidated Net Income (excluding any such non-cash income
to the extent that it represents the reversal of an accrual or reserve for a potential cash charge in such period); provided, however, that if any such Person shall have consummated any acquisition or disposition during such period, EBITDAX shall be
subject to pro forma adjustments for such acquisition or disposition (calculated in a manner that is reasonably acceptable to the Administrative Agent), as if such acquisition or disposition had occurred on the first day of such period and shall
also include adding back to Consolidated Net Income any non-recurring or onetime cash or non-cash charges or expenses associated with such acquisition or disposition.

 “EEA Financial Institution” means (a) any credit institution or investment firm established in any EEA Member
Country which is subject to the supervision of an EEA Resolution Authority, (b) any entity established in an EEA Member Country which is a parent of an institution described in clause (a) of this definition, or (c) any financial
institution established in an EEA Member Country which is a subsidiary of an institution described in clauses (a) or (b) of this definition and is subject to consolidated supervision with its parent. 

“EEA Member Country” means any of the member states of the European Union, Iceland, Liechtenstein, and Norway. 

“EEA Resolution Authority” means any public administrative authority or any person entrusted with public administrative
authority of any EEA Member Country (including any delegee) having responsibility for the resolution of any EEA Financial Institution. 

“Effective Date” means the date on which the conditions specified in Section 6.01 are satisfied (or waived in accordance
with Section 12.02). 
 “Effective Date Preferred Equity” means any preferred Equity Interests (whether or not
constituting Disqualified Capital Stock) issued pursuant to the Effective Date Preferred Equity Documents. 
 “Effective Date
Preferred Equity Documents” means the Securities Purchase Agreement, the Certificate of Designation and the Certificate of Incorporation, as amended, of Parent and each of the other agreements and instruments entered into or delivered by
the Parent or any of the holders in connection with the transactions contemplated by the Securities Purchase Agreement, the Certificate of Designation and the Certificate of Incorporation, each as may be amended from time to time to the extent
permitted hereunder. 

  
 12 

 “EIG” means EIG Credit Management Company, LLC, a Delaware limited
liability company. 
 “Elected Commitment” means, as to each Lender, the amount set forth opposite such Lender’s name
on Annex I under the caption “Elected Commitment”, as the same may be increased, reduced or terminated from time to time in connection with an increase, reduction or termination of the Aggregate Elected Commitments pursuant to
Section 2.06(c). 
 “Engineering Reports” has the meaning assigned such term in Section 2.07(c)(i). 

“EnVen” means EnVen Energy Ventures Holding, LLC, a Delaware limited liability company. 

“EnVen Deepwater” means EnVen Energy Deepwater, LLC, a Delaware limited liability company. 

“EnVen Opco” means EnVen Energy Ventures, LLC, a Louisiana limited liability company. 

“Environmental Financial Responsibility” means Decommissioning Financial Responsibility and Oil Spill Financial
Responsibility. 
 “Environmental Laws” means any and all Governmental Requirements pertaining in any way to health and
safety (insofar as either may be affected by a Release of, or exposure to, Hazardous Materials), the environment, the preservation or reclamation of natural resources, or the management, Release or threatened Release of any Hazardous Materials, in
effect in any and all jurisdictions in which the Borrower or any Subsidiary is conducting, or at any time has conducted, business, or where any Property of the Borrower or any Subsidiary is located, including, the Oil Pollution Act of 1990
(“OPA”), as amended, the Outer Continental Shelf Lands Act (“OCSLA”), as amended, the Clean Air Act, as amended, the Comprehensive Environmental, Response, Compensation, and Liability Act of 1980
(“CERCLA”), as amended, the Federal Water Pollution Control Act, as amended, the Occupational Safety and Health Act of 1970, as amended, the Resource Conservation and Recovery Act of 1976 (“RCRA”), as amended, the
Safe Drinking Water Act, as amended, the Toxic Substances Control Act, as amended, the Superfund Amendments and Reauthorization Act of 1986, as amended, the Hazardous Materials Transportation Act, as amended, and other environmental conservation or
protection Governmental Requirements. 
 “Environmental Permit” means any permit, registration, license, notice, approval,
consent, exemption, variance, or other authorization required under or issued pursuant to applicable Environmental Laws. 
 “Equity
Holdings” means EnVen Equity Holdings, LLC, a Delaware limited liability company. 
 “Equity Interests” means
shares of capital stock, partnership interests, membership interests in a limited liability company, beneficial interests in a trust or other equity ownership interests in a Person, and any warrants, options or other rights entitling the holder
thereof to purchase or acquire any such Equity Interest. 

  
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 “ERISA” means the Employee Retirement Income Security Act of 1974, as
amended, and any successor statute. 
 “ERISA Affiliate” means each trade or business (whether or not incorporated) which
together with the Borrower or a Subsidiary would be deemed to be a “single employer” within the meaning of section 4001(b)(1) of ERISA or subsections (b), (c), (m) or (o) of section 414 of the Code. 

“ERISA Event” means (a) any “reportable event”, as defined in Section 4043 of ERISA or the regulations
issued thereunder, with respect to a Plan (other than an event for which the 30-day notice period is waived), (b) the existence with respect to any Plan of an “accumulated funding deficiency” (as
defined in Section 412 of the Code or Section 302 of ERISA), whether or not waived, (c) the filing pursuant to Section 412(d) of the Code or Section 303(d) of ERISA of an application for a waiver of the minimum funding
standard with respect to any Plan, (d) the incurrence by the Borrower or any of its ERISA Affiliates of any liability under Title IV of ERISA with respect to the termination of any Plan or the withdrawal or partial withdrawal of the Borrower or
any of its ERISA Affiliates from any Plan or Multiemployer Plan, (e) the receipt by the Borrower or any of its ERISA Affiliates from the PBGC or a plan administrator of any notice relating to the intention to terminate any Plan or Plans or to
appoint a trustee to administer any Plan, (f) the adoption of any amendment to a Plan that would require the provision of security pursuant to Section 401(a)(29) of the Code or Section 307 of ERISA, (g) the receipt by the
Borrower or any of its ERISA Affiliates of any notice, or the receipt by any Multiemployer Plan from the Borrower or any of its ERISA Affiliates of any notice, concerning the imposition of Withdrawal Liability or a determination that a Multiemployer
Plan is, or is expected to be, insolvent or in reorganization, within the meaning of Title IV of ERISA, (h) the occurrence of a “prohibited transaction” with respect to which the Borrower or any of the Subsidiaries is a
“disqualified person” (within the meaning of Section 4975 of the Code) or with respect to which the Borrower or any such Subsidiary could otherwise be liable or (i) any other event or condition with respect to a Plan or
Multiemployer Plan that could result in liability of the Borrower or any Subsidiary. 
 “EU
Bail-In Legislation Schedule” means the EU Bail-In Legislation Schedule published by the Loan Market Association (or any successor person), as in effect from
time to time. 
 “Eurodollar”, when used in reference to any Loan or Borrowing, refers to whether such Loan, or the Loans
comprising such Borrowing, are bearing interest at a rate determined by reference to the Adjusted LIBO Rate. 
 “Event of
Default” has the meaning assigned to such term in Section 10.01. 
 “Excepted Liens” means: 

(a) Liens for Taxes, assessments or other governmental charges or levies which are not delinquent or which are being contested in good faith by
appropriate action and for which adequate reserves have been maintained in accordance with GAAP; 

  
 14 

 (b) Liens in connection with workers’ compensation, unemployment insurance or other
social security, old age pension or public liability obligations which are not delinquent or which are being contested in good faith by appropriate action and for which adequate reserves have been maintained in accordance with GAAP; 

(c) landlord’s liens, operators’, vendors’, carriers’, warehousemen’s, repairmen’s, mechanics’,
suppliers’, workers’, materialmen’s, construction or other like Liens arising by operation of law or otherwise in the ordinary course of business or incident to the exploration, development, operation and maintenance of Oil and Gas
Properties each of which is in respect of obligations that are not delinquent or which are being contested in good faith by appropriate action and for which adequate reserves have been maintained in accordance with GAAP; 

(d) contractual Liens which arise in the ordinary course of business under operating agreements, joint venture agreements, oil and gas
partnership agreements, oil and gas leases, farm-out and farm-in agreements, division orders, contracts for the sale, transportation or exchange of oil and natural gas,
unitization and pooling declarations and agreements, area of mutual interest agreements, overriding royalty agreements, marketing agreements, processing agreements, net profits agreements, development agreements, gas balancing or deferred production
agreements, injection, repressuring and recycling agreements, salt water or other disposal agreements, seismic or other geophysical permits or agreements, and other agreements which are usual and customary in the oil and gas business and are for
claims which are not delinquent or which are being contested in good faith by appropriate action and for which adequate reserves have been maintained in accordance with GAAP, provided that any such Lien referred to in this clause does not materially
impair the use of the Property covered by such Lien for the purposes for which such Property is held by the Borrower or any Subsidiary or materially impair the value of such Property subject thereto; 

(e) Liens arising solely by virtue of any statutory or common law provision or any deposit account agreement or similar agreement relating to
banker’s liens, rights of set-off or similar rights and remedies and burdening only deposit accounts or other funds maintained with a creditor depository institution, provided that no such deposit account
is a dedicated cash collateral account or is subject to restrictions against access by the depositor in excess of those set forth by regulations promulgated by the Board and no such deposit account is intended by Borrower or any of its Subsidiaries
to provide collateral to the depository institution; 
 (f) easements, restrictions, servitudes, permits, conditions, covenants, exceptions
or reservations in any Property of the Borrower or any Subsidiary for the purpose of roads, pipelines, transmission lines, transportation lines, distribution lines for the removal of gas, oil, coal or other minerals or timber, and other like
purposes, or for the joint or common use of real estate, rights of way, facilities and equipment, that do not secure any monetary obligations and which in the aggregate do not materially impair the use of such Property for the purposes of which such
Property is held by the Borrower or any Subsidiary or materially impair the value of such Property subject thereto; 
 (g) Liens on cash or
securities pledged to secure performance of tenders, surety and appeal bonds, government contracts, performance and return of money bonds, bids, trade contracts, leases, statutory obligations, regulatory obligations and other obligations of a like
nature incurred in the ordinary course of business; 

  
 15 

 (h) judgment and attachment Liens not giving rise to an Event of Default, provided that any
appropriate legal proceedings which may have been duly initiated for the review of such judgment shall not have been finally terminated or the period within which such proceeding may be initiated shall not have expired and no action to enforce such
Lien has been commenced; 
 (i) encumbrances consisting of deed restrictions, zoning restrictions, and other similar restrictions on the use
of Oil and Gas Properties, none of which, in the aggregate, materially impairs the use of such property by the Borrower or any other Loan Party in the operation of its business or materially detracts from the value of such properties, and none of
which, in the aggregate, is or shall be violated in any material respect by existing proposed operations; 
 (j) purported Liens evidenced
by the filing of UCC financing statements solely as a precautionary measure in connection with operating leases of personal property; 
 (k)
minor defects and irregularities of title to any Property so long as such defects and irregularities, in the aggregate, neither secure Debt nor materially impair the value of such property or the use of such property for the purposes of which the
property is held; 
 (l) Liens on cash earnest money deposited pursuant to the terms of an agreement to acquire assets used in, or Persons
engaged in, the oil and gas business, as permitted by this Agreement; 
 (m) Liens arising from leases or subleases of the properties of any
Loan Party, in each case, entered into in the ordinary course of such Loan Party’s business that do not interfere in any material respect with the ordinary conduct of the business of any Loan Party or materially impair the use or the value of
the property subject thereto, provided that such lease or sublease is permitted pursuant to the terms of this Agreement; 
 (n) Liens
(i) arising out of conditional sale, title retention, consignment or similar arrangements for the sale of goods entered into by any Loan Party in the ordinary course of business, and (ii) on assets being Disposed of by a Loan Party
pursuant to merger agreements, stock or asset purchase agreements and similar agreements in respect of the disposition of such assets, provided that such merger agreement, stock or asset purchase agreement or similar agreement in respect of the
disposition of such asset is permitted pursuant to the terms of this Agreement; 
 (o) licenses or sublicenses of intellectual property
granted by any Loan Party in the ordinary course of business (excluding any exclusive outbound licenses and any licenses or sublicenses interfering in any material respect with the ordinary conduct of business of the Loan Parties); 

(p) options, put and call arrangements, tag and drag rights, rights of first refusal, setoff rights, rights of first offer and similar
contractual encumbrances, and customary limitations and restrictions constituting negative pledges contained in leases, licenses, conveyances, partnership agreements, operating agreements, joint venture agreements and
co-owners’ agreements, and similar agreements (and any Liens on the Equity Interests of any joint ventures securing the performance of the obligations to the other joint venture partners thereunder), in
each case, in favor of the applicable joint venture partners and entered into in the ordinary course of business; 

  
 16 

 (q) Liens upon specific items of inventory or other goods and related proceeds of any Loan
Party securing such person’s obligations in respect of bankers’ acceptances or documentary letters of credit issued or created for the account of such person to facilitate the shipment or storage of such inventory or other goods; and 

(r) (i) pledges or deposits of cash and Cash Equivalents securing deductibles, self-insurance, insurance premiums, co-payment, co-insurance, retentions and similar obligations to providers of insurance in the ordinary course of business, (ii) Liens on insurance policies and the
proceeds thereof securing the financing of the premiums with respect thereto and (iii) deposits securing liability for reimbursement or indemnification obligations of (including to support obligations in respect of letters of credit, bank
guarantees or similar instruments for the benefit of) insurance carriers in respect of property, casualty or liability insurance to any Company provided by such insurance carriers, in the case of clauses (i)-(iii), that do not in the aggregate for
all such Liens exceed $5,000,000 at any time outstanding; 
 provided, further that (i) Liens described in clauses
(a) through (e), (q) and (r) shall remain “Excepted Liens” only for so long as no action to enforce such Lien has been commenced and no intention to subordinate the first priority Lien granted in favor of the Administrative Agent
and the Lenders is to be hereby implied or expressed by the permitted existence of such Excepted Liens, and (ii) in no event shall “Excepted Liens” secure Debt for borrowed money. 

“Excess Cash” has the meaning assigned to such term in Section 3.04(c)(iv). 

“Excluded Accounts” means segregated Deposit Accounts, the balance of which consists exclusively of (a) funds set aside
in connection with the payment of payroll, payroll Tax liabilities and accrued employee benefits, medical, dental and employee benefits claims to employees of the Borrower or any Subsidiary, and (b) Excluded Cash of the types described in
clauses (b), (f) or (g) of the definition thereof. 
 “Excluded Cash” means (a) cash in escrow supporting the
Loan Parties’ plugging and abandonment obligations, (b) cash collateral held by the Loan Parties received from an unaffiliated third party pursuant to any contractual or regulatory obligation, (c) purchase price deposits held in
escrow by an unaffiliated third party pursuant to a binding and enforceable purchase and sale agreement containing customary provisions regarding the payment and refunding of such deposits, (d) cash to be used within three Business Days to pay
the purchase price for any Property to be acquired from an unaffiliated third party pursuant to a binding and enforceable purchase and sale agreement, (e) cash set aside to pay the purchase price for goods and services then due and owing to
unaffiliated third parties in the ordinary course of business and for which checks, wires or ACH transfers have been issued or initiated, (f) cash in segregated deposit accounts of the Loan Parties consisting exclusively of royalty suspense
amounts due and owing to unaffiliated third parties and (g) cash set aside or held in escrow for adjustment in respect of the sale price or for any liabilities associated with any permitted Disposition of Property to an unaffiliated third party
pursuant to a binding and enforceable purchase and sale agreement containing customary provisions regarding the payment and refunding of such amounts. 

  
 17 

 “Excluded Swap Obligation” means, with respect to any Guarantor,
(x) as it relates to all or a portion of the Guarantee of such Guarantor, any Swap Obligation if, and to the extent that, such Swap Obligation (or any Guarantee thereof) is or becomes illegal under the Commodity Exchange Act or any rule,
regulation or order of the Commodity Futures Trading Commission (or the application or official interpretation of any thereof) by virtue of such Guarantor’s failure for any reason to constitute an “eligible contract participant” as
defined in the Commodity Exchange Act and the regulations thereunder at the time the Guarantee of such Guarantor becomes effective with respect to such Swap Obligation or (y) as it relates to all or a portion of the grant by such Guarantor of a
security interest, any Swap Obligation if, and to the extent that, such Swap Obligation (or such security interest in respect thereof) is or becomes illegal under the Commodity Exchange Act or any rule, regulation or order of the Commodity Futures
Trading Commission (or the application or official interpretation of any thereof) by virtue of such Guarantor’s failure for any reason to constitute an “eligible contract participant” as defined in the Commodity Exchange Act and the
regulations thereunder at the time the security interest of such Guarantor becomes effective with respect to such Swap Obligation. If a Swap Obligation arises under a master agreement governing more than one swap, such exclusion shall apply only to
the portion of such Swap Obligation that is attributable to swaps for which such Guarantee or security interest is or becomes illegal. 

“Excluded Taxes” means, with respect to the Administrative Agent, any Lender, the Issuing Bank or any other recipient of any
payment to be made by or on account of any obligation of the Borrower or any Guarantor hereunder or under any other Loan Document, (a) income or franchise taxes imposed on (or measured by) its net income (however denominated), in each case,
(i) by the United States of America or such other jurisdiction under the laws of which such recipient is organized or in which its principal office is located or, in the case of any Lender, in which its applicable lending office is located, or
(ii) that are Other Connection Taxes, (b) any branch profits taxes imposed by the United States of America or any similar tax imposed by any other jurisdiction in which the Borrower or any Guarantor is located, (c) in the case of a
Lender, U.S. federal withholding Taxes imposed on amounts payable to or for the account of such Lender with respect to an applicable interest in a Loan or Commitment pursuant to a law in effect on the date on which (i) such Lender acquires such
interest in the Loan or Commitment (other than pursuant to an assignment request by the Borrower under Section 5.04(b)) or (ii) such Lender changes its lending office, except in each case to the extent that, pursuant to Section 5.03,
amounts with respect to such Taxes were payable either to such Lender’s assignor immediately before such Lender became a party hereto or to such Lender immediately before it changed its lending office, (d) Taxes attributable to any such
recipient’s failure to comply with Section 5.03(e), and (e) any United States federal withholding tax that is imposed under FATCA. 

“Existing Credit Agreement” has the meaning assigned to such term in the recitals hereto. 

“FATCA” means Sections 1471 through 1474 of the Code, as of the Effective Date (or any amended or successor version that is
substantively comparable and not materially more onerous to comply with), any current or future regulations or official interpretations thereof and any agreements entered into pursuant to Section 1471(b)(1) of the Code, any intergovernmental
agreement between a non-U.S. jurisdiction and the United States of America with respect to the foregoing and any law, regulation or practice adopted pursuant to any such intergovernmental agreement. 

  
 18 

 “Federal Funds Effective Rate” means, for any day, the weighted average
(rounded upwards, if necessary, to the next 1/100 of 1%) of the rates on overnight Federal funds transactions with members of the Federal Reserve System arranged by Federal funds brokers, as published on the next succeeding Business Day by the
Federal Reserve Bank of New York, or, if such rate is not so published for any day that is a Business Day, the average (rounded upwards, if necessary, to the next 1/100 of 1%) of the quotations for such day for such transactions received by the
Administrative Agent from three Federal funds brokers of recognized standing selected by it, provided that if the Federal Funds Effective Rate shall be less than zero, such rate shall be deemed to be zero for purposes of this Agreement. 

“Fee Letter” means that certain Fee Letter dated December 16, 2016 among the Borrower, the Administrative Agent and the
Arrangers related to the payment of certain fees by the Borrower. 
 “Financial Covenant” means each of (a) the
Leverage Ratio covenant set forth in Section 9.01(a), (b) the current ratio covenant set forth in Section 9.01(b), and the PDP Reserves Coverage Ratio set forth in Section 9.01(c). The foregoing clauses
(a) through (c) are collectively referred to as the “Financial Covenants”. 
 “Financial Officer” means, for
any Person, the chief financial officer, principal accounting officer, treasurer or controller of such Person. Unless otherwise specified, all references herein to a Financial Officer means a Financial Officer of the Borrower. 

“Foreign Lender” means any Lender that is organized under the laws of a jurisdiction other than that in which the Borrower is
located. For purposes of this definition, the United States of America, each State thereof and the District of Columbia shall be deemed to constitute a single jurisdiction. 

“Foreign Subsidiary” means any Subsidiary that is not a Domestic Subsidiary. 

“GAAP” means generally accepted accounting principles in the United States of America as in effect from time to time subject
to the terms and conditions set forth in Section 1.05. 
 “Governmental Authority” means the government of the United
States of America, any other nation or any political subdivision thereof, whether state or local, and any agency, authority, instrumentality, regulatory body, court, central bank or other entity exercising executive, legislative, judicial, taxing,
regulatory or administrative powers or functions of or pertaining to government. 
 “Governmental Requirement” means any
law, statute, code, ordinance, order, determination, rule, regulation, judgment, decree, injunction, franchise, permit, certificate, license, authorization or other directive or requirement, whether now or hereinafter in effect, of any Governmental
Authority. 

  
 19 

 “Guarantors” means (a) the Parent, (b) EnVen, (c) EnVen Opco, and
(d) each other Domestic Subsidiary that is a party to the Guaranty Agreement as a “Guarantor” and “Grantor” (as such terms are defined in the Guaranty Agreement) and guarantees the Secured Obligations pursuant to
Section 8.14(b) or Section 8.20(b); but excluding any Person released as a Guarantor pursuant to Section 11.10. 

“Guaranty Agreement” means the Amended and Restated Guaranty Agreement dated as of the Effective Date executed by the
Borrower and the Guarantors in form and substance reasonably acceptable to the Administrative Agent unconditionally guarantying on a joint and several basis, payment of the Secured Obligations and granting a first-priority Lien on such Property of
the Grantors (as such term is defined therein) as is described therein, as the same may be amended, restated, modified or supplemented from time to time. 

“Hazardous Material” means any substance regulated or as to which liability might arise under any applicable Environmental
Law including: (a) any chemical, compound, material, product, byproduct, substance or waste defined as or included in the definition or meaning of “hazardous substance,” “hazardous material,” “hazardous waste,”
“solid waste,” “toxic waste,” “extremely hazardous substance,” “toxic substance,” “contaminant,” “pollutant,” or words of similar meaning or import found in any applicable Environmental
Law; (b) Hydrocarbons, petroleum products, petroleum substances, natural gas, oil, oil and gas waste, crude oil, and any components, fractions, or derivatives thereof; and (c) radioactive materials, explosives, asbestos or asbestos
containing materials, polychlorinated biphenyls, radon, infectious materials or medical wastes. 
 “Highest Lawful Rate”
means, with respect to each Lender, the maximum nonusurious interest rate, if any, that at any time or from time to time may be contracted for, taken, reserved, charged or received on the Notes or on other Secured Obligations under laws applicable
to such Lender which are presently in effect or, to the extent allowed by law, under such applicable laws which may hereafter be in effect and which allow a higher maximum nonusurious interest rate than applicable laws allow as of the Effective
Date. 
 “Hydrocarbon Interests” means all rights, titles, interests and estates now or hereafter acquired by the Borrower
or any Guarantor in and to oil and gas leases, oil, gas and mineral leases, or other liquid or gaseous hydrocarbon leases, mineral fee interests, overriding royalty and royalty interests, net profit interests and production payment interests,
including any reserved or residual interests of whatever nature. 
 “Hydrocarbons” means oil, gas, casinghead gas, drip
gasoline, natural gasoline, condensate, distillate, liquid hydrocarbons, gaseous hydrocarbons and all products refined or separated therefrom. 

“Incremental Second Lien Facility” means that certain incremental term loan facility incurred pursuant to Section 2.23
of the Second Lien Term Loan Agreement pursuant to the Third Amendment to the Second Lien Term Loan Agreement dated as of the Effective Date. 

“Incremental Second Lien Facility Documents” means the Third Amendment to the Second Lien Term Loan Agreement and any other
agreement entered into in connection therewith, in each case together with all amendments, modifications and supplements thereto to the extent permitted by Section 9.04(b). 

  
 20 

 “Incorporated Financial Covenant” has the meaning assigned to such term in
Section 8.17. 
 “Increase Effective Date” has the meaning assigned such term in Section 2.06(c)(ii). 

“Increase Notice” has the meaning assigned such term in Section 2.06(c)(ii). 

“Indemnified Taxes” means (a) Taxes, other than Excluded Taxes, imposed on or with respect to any payment made by or on
account of any obligation of the Borrower or any Guarantor under any Loan Document and (b) to the extent not otherwise described in (a), Other Taxes. 

“Initial Reserve Report” means the collective reference to (a) the report of Ryder Scott Company, L.P. dated as of
September 12, 2016, with respect to certain Oil and Gas Properties of the Borrower and its Subsidiaries as of June 30, 2016, (b) the report of Netherland, Sewell & Associates, Inc. dated as of August 29, 2016, with respect to
certain Oil and Gas Properties of the Borrower and its Subsidiaries as of June 30, 2016, and (c) the report of Netherland, Sewell & Associates, Inc., dated as of August 31, 2016, with respect to the Acquisition Properties as
of June 30, 2016. 
 “Intercreditor Agreement” means that certain Intercreditor Agreement dated as of July 29,
2014 among the Borrower, the Guarantors, the Administrative Agent and the Second Lien Administrative Agent, as the same may be amended, supplemented, modified or restated in accordance with the terms thereof. 

“Interest Election Request” means a request by the Borrower to convert or continue a Borrowing in accordance with
Section 2.04. 
 “Interest Payment Date” means (a) with respect to any ABR Loan, the last day of each March,
June, September and December and (b) with respect to any Eurodollar Loan, the last day of the Interest Period applicable to the Borrowing of which such Loan is a part and, in the case of a Eurodollar Borrowing with an Interest Period of more
than three months’ duration, each day prior to the last day of such Interest Period that occurs at intervals of three months’ duration after the first day of such Interest Period. 

“Interest Period” means with respect to any Eurodollar Borrowing, the period commencing on the date of such Borrowing and
ending on the numerically corresponding day in the calendar month that is one, two, three or six months (or, with the consent of each Lender, twelve months) thereafter, as the Borrower may elect; provided that (a) if any Interest Period
would end on a day other than a Business Day, such Interest Period shall be extended to the next succeeding Business Day unless such next succeeding Business Day would fall in the next calendar month, in which case such Interest Period shall end on
the next preceding Business Day and (b) any Interest Period pertaining to a Eurodollar Borrowing that commences on the last Business Day of a calendar month (or on a day for which there is no numerically corresponding day in the last calendar
month of such Interest Period) shall end on the last Business Day of the last calendar month of such Interest Period. For purposes hereof, the date of a Borrowing initially shall be the date on which such Borrowing is made and thereafter shall be
the effective date of the most recent conversion or continuation of such Borrowing. 

  
 21 

 “Interim Redetermination” has the meaning assigned such term in
Section 2.07(b). 
 “Interim Redetermination Date” means the date on which a Borrowing Base that has been redetermined
pursuant to an Interim Redetermination becomes effective as provided in Section 2.07(d). 
 “Investment” means, for any
Person: (a) the acquisition (whether for cash, Property, services or securities or otherwise) of Equity Interests of any other Person (including, without limitation, any “short sale” or any sale of any securities at a time when such
securities are not owned by the Person entering into such short sale); (b) the making of any deposit with, or advance, loan or capital contribution to, assumption of Debt of, purchase or other acquisition of any other Debt or equity participation or
interest in, or other extension of credit to, any other Person (excluding any such advance, loan or extension of credit having a term not exceeding ninety (90) days representing the purchase price of inventory or supplies sold by such Person in
the ordinary course of business); or (c) the entering into of any guarantee of, or other contingent obligation (including the deposit of any Equity Interests to be sold) with respect to, Debt or other liability of any other Person and (without
duplication) any amount committed to be advanced, lent or extended to such Person. 
 “Issuing Bank” means BMO, in its
capacity as the issuer of Letters of Credit hereunder or any other Lender that agrees to issue Letters of Credit, and its successors in such capacity as provided in Section 2.08(i). The Issuing Bank may, in its discretion, arrange for one or
more Letters of Credit to be issued by Affiliates of the Issuing Bank, in which case the term “Issuing Bank” shall include any such Affiliate with respect to Letters of Credit issued by such Affiliate. 

“LC Commitment” at any time means $25,000,000. 

“LC Disbursement” means a payment made by the Issuing Bank pursuant to a Letter of Credit. 

“LC Exposure” means, at any time, the sum of (a) the aggregate undrawn and unexpired stated amount of all outstanding
Letters of Credit at such time plus (b) the aggregate amount of all LC Disbursements that have not yet been reimbursed by or on behalf of the Borrower at such time. The LC Exposure of any Lender at any time shall be its Applicable Percentage of
the total LC Exposure at such time. 
 “Lenders” means the Persons listed on Annex I and any Person that shall have become
a party hereto pursuant to Section 2.06(c) or pursuant to an Assignment and Assumption, other than any such Person that ceases to be a party hereto pursuant to an Assignment and Assumption. 

“Letter of Credit” means any letter of credit issued pursuant to this Agreement. 

  
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 “Letter of Credit Agreements” means all letter of credit applications and
other agreements (including any amendments, modifications or supplements thereto) submitted by the Borrower, or entered into by the Borrower, with the Issuing Bank relating to any Letter of Credit. 

“Leverage Ratio” means, as of any date of determination, the ratio of Total Funded Debt as of such date to EBITDAX for the
immediately preceding four fiscal quarters, in each case after giving effect to any applicable Pro Forma Adjustments. Notwithstanding the foregoing, for the purposes of calculating the Leverage Ratio (a) for the fiscal quarter ending
December 31, 2016, EBITDAX shall be determined by reference to the EBITDAX for such fiscal quarter multiplied by four, (b) for the fiscal quarter ending March 31, 2017, EBITDAX shall be determined by reference to the EBITDAX for the
two consecutive fiscal quarter period then ending multiplied by two, and (c) for the fiscal quarter ending June 30, 2017, EBITDAX shall be determined by reference to the EBITDAX for the three consecutive fiscal quarter period then ending
multiplied 4/3. 
 “LIBO Rate” means, with respect to any Eurodollar Borrowing for any Interest Period, the greater of (a)
0.0% and (b) the rate appearing on Reuters BBA Libor Rate Page LIBOR01 (or on any successor or substitute screen of such service, or any successor to or substitute for such service, providing rate quotations comparable to those currently
provided on such screen of such service, as determined by the Administrative Agent from time to time for purposes of providing quotations of interest rates applicable to dollar deposits in the London interbank market) at approximately 11:00 a.m.,
London time, two Business Days prior to the commencement of such Interest Period, as the rate for dollar deposits with a maturity comparable to such Interest Period. In the event that such rate is not available at such time for any reason, then the
“LIBO Rate” with respect to such Eurodollar Borrowing for such Interest Period shall be the rate (rounded upwards, if necessary, to the next 1/100 of 1%) at which dollar deposits of an amount comparable to such Eurodollar Borrowing and for
a maturity comparable to such Interest Period are offered by the principal London office of the Administrative Agent in immediately available funds in the London interbank market at approximately 11:00 a.m., London time, two Business Days prior to
the commencement of such Interest Period. 
 “Lien” means any interest in Property securing an obligation owed to, or a
claim by, a Person other than the owner of the Property, whether such interest is based on the common law, statute or contract, and whether such obligation or claim is fixed or contingent, and including but not limited to (a) the lien or
security interest arising from a mortgage, encumbrance, pledge, security agreement, conditional sale or trust receipt or a lease, consignment or bailment for security purposes or (b) production payments and the like payable out of Oil and Gas
Properties. The term “Lien” shall include easements, restrictions, servitudes, permits, conditions, covenants, exceptions or reservations. For the purposes of this Agreement, the Borrower and its Subsidiaries shall be deemed to be
the owner of any Property which it has acquired or holds subject to a conditional sale agreement, or leases under a financing lease or other arrangement pursuant to which title to the Property has been retained by or vested in some other Person in a
transaction intended to create a financing. 
 “Liquidate” means, with respect to any Swap Agreement, (a) the sale,
assignment, novation, unwind or termination of all or any part of such Swap Agreement or (b) the creation of an offsetting position against all or any part of such Swap Agreement. The terms “Liquidated” and “Liquidation”
have correlative meanings thereto. 

  
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 “Loan Documents” means this Agreement, the Notes, the Letter of Credit
Agreements, the Security Instruments, the Fee Letter, the AA Fee Letter and the Intercreditor Agreement. 
 “Loan Party”
means the Borrower and each Guarantor. 
 “Loans” means the loans made by the Lenders to the Borrower pursuant to this
Agreement. 
 “Majority Lenders” means, at any time while no Loan or LC Exposure is outstanding, Lenders having more than
50.0% of the Aggregate Maximum Credit Amounts; and at any time while any Loan or LC Exposure is outstanding, Lenders holding more than 50.0% of the outstanding aggregate principal amount of the Loans and participation interests in Letters of Credit
(without regard to any sale by a Lender of a participation in any Loan under Section 12.04(c)); provided that the Maximum Credit Amounts and the principal amount of the Loans and participation interests in Letters of Credit of the Defaulting
Lenders (if any) shall be excluded from the determination of Majority Lenders; provided further that at any time there are fewer than four Lenders (but more than one Lender), at least two Lenders will be required to constitute Majority
Lenders. 
 “Material Acquisition” means an acquisition of (a) assets equal in value to 20% or more of the book value
of the Loan Parties’ assets or (b) a Person or business whose consolidated net income is 20% or more of the Borrower’s Consolidated Net Income. 

“Material Adverse Effect” means a material adverse change in, or material adverse effect on (a) the business,
operations, property or financial condition of the Parent and its Subsidiaries taken as a whole, (b) the ability of any Loan Party to perform any of its payment obligations or other material obligations under any Loan Document to which it is a
party, (c) the validity or enforceability of any Loan Document or (d) the rights and remedies of or benefits available to the Administrative Agent, any other Agent, the Issuing Bank or any Lender under any Loan Document. 

“Material Indebtedness” means Debt (other than the Loans and Letters of Credit), or obligations in respect of one or more
Swap Agreements, of any one or more of the Parent the Borrower and its Subsidiaries in an aggregate principal amount, individually or collectively, exceeding the greater of (a) $10,000,000 or (b) 5.0% of the Borrowing Base then in effect. For
purposes of determining Material Indebtedness, the “principal amount” of the obligations of the Parent, the Borrower or any Subsidiary in respect of any Swap Agreement at any time shall be the Swap Termination Value. 

“Material Subsidiary” means any Subsidiary with assets greater than $3,000,000. 

“Maturity Date” means the earlier of (a) July 29, 2019 and (b) the date that is 90 days in advance of the
maturity of the Second Lien Loans. 

  
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 “Maximum Credit Amount” means, as to each Lender, the amount set forth
opposite such Lender’s name on Annex I under the caption “Maximum Credit Amounts”, as the same may be (a) reduced or terminated from time to time in connection with a reduction or termination of the Aggregate Maximum Credit
Amounts pursuant to Section 2.06(b) or (b) modified from time to time pursuant to any assignment permitted by Section 12.04(a). 

“Minimum Hedging Test Date” means (i) the date that is 30 days after the Effective Date (subject to one 15 day extension
in the sole discretion of the Administrative Agent), (ii) March 15th of each calendar year occurring after the Effective Date and (iii) September 15th of each calendar year occurring after the Effective Date. 

“Money Laundering Law” means any law governing conduct or acts designed in whole or in part to conceal or disguise the
nature, location, source, ownership or control of money (including currency or equivalents, e.g., checks, electronic transfers, etc.) to avoid a transaction reporting requirement under state or federal law or to disguise the fact that the money was
acquired by illegal means, in each case, applicable to the Parent, Equity Holdings, the Borrower or its Subsidiaries, including the PATRIOT Act. 

“Moody’s” means Moody’s Investors Service, Inc. and any successor thereto that is a nationally recognized rating
agency. 
 “Mortgaged Property” means any Property owned by the Borrower or any Guarantor which is subject to the Liens
existing and to exist under the terms of the Security Instruments. 
 “Multiemployer Plan” means a multiemployer plan as
defined in Section 4001(a)(3) of ERISA. 
 “Net Funded Debt” means, at any time, Total Funded Debt minus the aggregate
amount of unrestricted cash and Cash Equivalents on the balance sheet of Parent, the Borrower and its Subsidiaries as of such date. 

“New Borrowing Base Notice” has the meaning assigned to such term in Section 2.07(d). 

“Notes” means the promissory notes of the Borrower described in Section 2.02(d) and substantially in the form of Exhibit
A, together with all amendments, modifications, replacements, extensions and rearrangements thereof. 
 “Notice of Intent to
Cure” has the meaning assigned to such term in Section 9.01(d). 
 “Oil and Gas Properties” means
(a) Hydrocarbon Interests; (b) the Properties now or hereafter pooled or unitized with Hydrocarbon Interests; (c) all presently existing or future unitization, pooling agreements and declarations of pooled units and the units created
thereby (including without limitation all units created under orders, regulations and rules of any Governmental Authority) which may affect all or any portion of the Hydrocarbon Interests; (d) all operating agreements, contracts and other
agreements, including production sharing contracts and agreements, which relate to any of the Hydrocarbon Interests or the production, sale, transportation, purchase, exchange or processing of Hydrocarbons from or attributable to such Hydrocarbon
Interests; (e) all Hydrocarbons in and under and which may be produced and saved 

  
 25 

 
or attributable to the Hydrocarbon Interests, including all oil in tanks, and all rents, issues, profits, proceeds, products, revenues and other incomes from or attributable to the Hydrocarbon
Interests; (f) all tenements, hereditaments, appurtenances and Properties in any manner appertaining, belonging, affixed or incidental to the Hydrocarbon Interests and (g) all Properties, rights, titles, interests and estates described or
referred to above, including any and all Property, real or personal, now owned or hereinafter acquired and situated upon, used, held for use or useful in connection with the operating, working or development of any of such Hydrocarbon Interests or
Property (excluding drilling rigs, automotive equipment, rental equipment or other personal Property which may be on such premises for the purpose of drilling a well or for other similar temporary uses) and including any and all oil wells, gas
wells, injection wells or other wells, fuel separators, liquid extraction plants, plant compressors, pumps, pumping units, field gathering systems, tanks and tank batteries, fixtures, valves, fittings, machinery and parts, engines, boilers, meters,
apparatus, equipment, appliances, tools, implements, cables, wires, towers, casing, tubing and rods, surface leases, rights-of-way, easements and servitudes together
with all additions, substitutions, replacements, accessions and attachments to any and all of the foregoing. Unless otherwise indicated herein, each reference to the term “Oil and Gas Properties” shall mean Oil and Gas Properties of the
Borrower and/or the Subsidiaries, as the context requires. 
 “Oil Spill Financial Responsibility” means an indemnity,
insurance policy, or surety bond required by OPA for covered off shore facilities to demonstrate financial ability to pay for cleanup and damages that could be caused by oil discharges from the facility. 

“Other Connection Taxes” means, with respect to the Administrative Agent, any Lender, the Issuing Bank or any other recipient
of any payment to be made by or on account of any obligation of the Borrower or any Guarantor hereunder or under any other Loan Document, Taxes imposed as a result of a present or former connection between such recipient and the jurisdiction
imposing such Tax (other than connections arising from such recipient having executed, delivered, become a party to, performed its obligations under, received payments under, received or perfected a security interest under, engaged in any other
transaction pursuant to or enforced any Loan Document, or sold or assigned an interest in any Loan or Loan Document). 
 “Other Debt
Agreement” means any agreement, instrument or other document governing any Material Indebtedness (other than intercompany Indebtedness) (with committed but unutilized amounts under such Other Debt Agreement being deemed fully drawn for
purposes of measuring such threshold), including, without limitation, the Second Lien Loans or any Permitted Refinancing Debt in respect thereof. 

“Other Taxes” means all present or future stamp, court or documentary, intangible, recording, filing or similar Taxes that
arise from any payment made under, from the execution, delivery, performance, enforcement or registration of, from the receipt or perfection of a security interest under, or otherwise with respect to, any Loan Document, except any such Taxes that
are Other Connection Taxes imposed with respect to an assignment (other than an assignment made pursuant to Section 5.04). 

“Parent” means EnVen Energy Corporation, a Delaware corporation. 

  
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 “Participant” has the meaning assigned to such term in
Section 12.04(c)(i). 
 “Participant Register” has the meaning assigned to such term in Section 12.04(c)(i). 

“PATRIOT Act” means the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct
Terrorism Act (Title III of Pub. L. 107-56 (signed into law October 26, 2001)), as the same has been, or shall hereafter be, renewed, extended, amended or replaced. 

“PDP Reserves” means Oil and Gas Properties that, in accordance with the Definitions for Oil and Gas Reserves promulgated by
the Society of Petroleum Engineers (or any generally recognized successor), as in effect at the time in question, are classified as both “Proved Reserves” and “Developed Producing Reserves” in the Reserve Report most recently
delivered to the Administrative Agent pursuant to this Agreement. 
 “PDP Reserves Coverage Ratio” means, (a) as of
the last day of each fiscal year, the ratio of the PV-10 Value in respect of Proved Reserves classified as PDP Reserves as reflected in the most recent January 1 Reserve Report (together with any
supplements, revisions or updates thereto after such date) to Total Funded Debt as shown in the annual financial statements for the immediately prior fiscal year and (b) as of June 30 of each fiscal year, the ratio of the PV-10 Value in respect of Proved Reserves classified as PDP Reserves as reflected in the most recent July 1 Reserve Report (together with any supplements, revisions or updates thereto after such date) to Total
Funded Debt as shown in the quarterly financial statements for the quarter ending June 30 of the current fiscal year. 

“Permitted Acquisition” means any transaction or series of related transactions effected by a Loan Party (or a Person that
will become a Loan Party substantially concurrently with such transaction or series of related transactions) for the direct or indirect (a) acquisition of Oil and Gas Properties; (b) acquisition of in excess of 50% of the Equity Interests
of any Person, and otherwise causing such Person to become a Subsidiary of such Person; or (c) merger, amalgamation or consolidation or any other combination with any Person, if each of the following conditions is met: 

(a) no Event of Default then exists or would result therefrom; 

(b) neither the Borrower nor any Subsidiary shall, in connection with any such transaction, assume or remain liable with respect to any Debt
except to the extent permitted by Section 9.02; 
 (c) (i) with respect to an acquisition of assets, the assets so acquired shall
be made subject to the Lien of the Security Documents to the extent required by Section 8.14 and (ii) with respect to the acquisition of more than 50% of the Equity Interests in a Person, the Person or business to be acquired shall be, or
shall be engaged in, a business of the type that the Loan Parties and their Subsidiaries are permitted to be engaged in under Section 9.06 and, if such Person becomes a Subsidiary, then such Person shall become a Guarantor and the property
acquired in connection with any such transaction shall be made subject to the Lien of the Security Instruments to the extent required by Section 8.14; 

  
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 (d) the board of directors, or similar governing body, of any Person to be acquired shall
not have indicated publicly its opposition to the consummation of such acquisition (which opposition has not been publicly withdrawn); 

(e) all transactions in connection therewith shall be consummated in accordance with all applicable Governmental Requirements of all
applicable Governmental Authorities; 
 (f) with respect to any Material Acquisition, unless the Administrative Agent shall otherwise agree,
the Borrower shall have provided the Administrative Agent with (i) in the case of an acquisition of a Person, historical financial statements for the last two fiscal years (or, if less, the number of years since formation) of the Person to be
acquired and interim unaudited financial statements for the most recent interim period which is available or, in the case of an acquisition of Oil and Gas Properties, operating statements for the last two fiscal years prepared by the seller with
respect to the proved reserves acquired and, to the extent available, interim operating statements for any completed fiscal quarters, (ii) a Reserve Report, or an excerpt therefrom, with respect to the proved reserves to be acquired pursuant to
such acquisition (provided that such report may be prepared by independent reserve engineers other than the Approved Petroleum Engineer) with an effective date within the 12-month period immediately prior to
such acquisition, (iii) reasonably detailed projections for the succeeding five years pertaining to the Person, business or assets to be acquired and updated projections for the Borrower after giving effect to such transaction, and (iv) a
reasonably detailed description of all material information relating thereto and copies of all material documentation pertaining to such transaction; and 

(g) at least three (3) Business Days prior to the proposed date of consummation of the transaction, the Borrower shall have delivered to
the Administrative Agent a certificate of a Responsible Officer certifying that (i) after giving effect to such transaction (including any Loans advanced to the Borrower on such date), the Borrower shall be in pro forma compliance with each of
the Financial Covenants (using the financial statements most recently delivered pursuant to Section 5.01(a) or (b)) and including reasonably detailed calculations demonstrating such pro forma compliance and (ii) such transaction complies
with this definition. 
 “Permitted Holder” means (a) EIG, (b) Bain, (c) Adage, (d) any affiliated fund,
investment account, or other investment vehicle managed, controlled by or under common control with the entities in clauses (a) through (c) above, (e) Steven A Weyel, (f) David M. Dunwoody, Jr., (g) with respect to the individuals
listed in clauses (e) and (f), their spouse, lineal descendants, spouse of any such lineal descendants, or a trust for their benefit or the benefit of any such individuals, or any entity 100% owned or 100% controlled, directly or indirectly, by
such individual or one or more of such individuals and/or trusts, (h) the Parent or any holding company parent of the Borrower owned directly or indirectly by the other Permitted Holders and (i) Equity Holdings and any direct or indirect
corporation or other holding company parent of the Borrower or the Parent formed for purpose of effecting a Qualified Equity Offering. 

“Permitted Refinancing Debt” means Debt (for purposes of this definition, “new Debt”) incurred in exchange for, or
proceeds of which are used to refinance, all of any other Debt (the “Refinanced Debt”); provided that (a) such new Debt is in an aggregate principal amount not in excess of the sum of (i) the aggregate principal amount then
outstanding of the Refinanced Debt 

  
 28 

 
(or, if the Refinanced Debt is exchanged or acquired for an amount less than the principal amount thereof to be due and payable upon a declaration of acceleration thereof, such lesser amount) and
(ii) an amount necessary to pay any fees and expenses, including premiums, reasonably incurred in connection with such exchange or refinancing; (b) in the event Second Lien Loans are the Refinanced Debt, (i) the Second Lien Loans are
refinanced in their entirety by one or more tranches of such new Debt, (ii) the financing documentation entered into by the Borrower and its Subsidiaries in connection therewith shall constitute Permitted Refinancing Documents and
(iii) such new Debt either (A) satisfies the requirements of Section 9.02(g) and Section 9.03(d) and is subject to the Intercreditor Agreement or (B) is not secured by a Lien; (c) such new Debt has a stated maturity no
earlier than the stated maturity of the Refinanced Debt and an Average Life no shorter than the Average Life of the Refinanced Debt; (d) the regularly scheduled cash interest expense (in excess of the LIBOR or ABR Rate (or similar terms)
applicable for such interest expense without giving effect to any floor) required to be paid by the Borrower and its Subsidiaries in respect of such new Debt does not exceed $30,000,000 in any year; (e) such new Debt does not contain covenants
which, taken as a whole, are more onerous to the Borrower and its Subsidiaries than those imposed by the Refinanced Debt; (f) no Subsidiary is required to guarantee such new Debt unless such Subsidiary has guaranteed the Secured Obligations
pursuant to the Guaranty Agreement; (g) such new Debt does not have any mandatory prepayment or redemption provisions (other than customary change of control or asset sale tender offer provisions and customary acceleration rights upon an event
of default thereunder) which would require a mandatory prepayment or redemption in priority to the Obligations; and (h) if such Refinanced Debt was subordinated, such new Debt (and any guarantees thereof) is subordinated in right of payment to
the Secured Obligations (or, if applicable, the Guaranty Agreement) to at least the same extent as the Refinanced Debt and is otherwise subordinated on terms substantially reasonably satisfactory to the Administrative Agent. 

“Permitted Refinancing Documents” means any financing documentation which replaces the Second Lien Loans or the Second Lien
Term Loan Documents, pursuant to which the outstanding Second Lien Loans are refinanced in their entirety by the incurrence of Permitted Refinancing Debt; provided that, in the case of any Permitted Refinancing Debt that is secured Debt, such
financing documentation shall contain only those terms, conditions, covenants and defaults that exist in the Second Lien Term Loan Agreement or the Second Lien Term Loan Documents at the time of the incurrence of such Permitted Refinancing Debt,
and/or such terms, conditions, covenants or defaults that could be included in the Second Lien Term Loan Agreement or the Second Term Loan Documents, as the case may be, by an amendment or other modification that would not be prohibited by the terms
of the Intercreditor Agreement at the time of the incurrence of such Permitted Refinancing Debt, as the same may be amended, modified or supplemented in accordance with Section 9.04(b)(ii). 

“Permitted Tax Distribution” means, with respect to any taxable period during which Borrower is a pass-through entity for
United States federal income tax purposes (including, for the avoidance of doubt, a disregarded entity not treated as separate from its owner) Restricted Payments to holders of equity in Borrower in accordance with Section 4.01(b) (or any
similar provision) of the Borrower LLC Agreement; provided that, for the purposes of this Agreement, “Distribution Tax Rate,” as used in the Borrower LLC Agreement, shall mean the combined maximum marginal federal, state and local Tax rate
applicable to an individual or a corporation (whichever is higher) residing in New York, New York (taking into account the deductibility of state and local taxes for U.S. federal tax purposes and any limitations thereon). 

  
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 “Person” means any natural person, corporation, limited liability company,
trust, joint venture, association, company, partnership, Governmental Authority or other entity. 
 “Plan” means any
employee pension benefit plan, as defined in section 3(2) of ERISA, which (a) is currently or hereafter sponsored, maintained or contributed to by the Borrower, a Subsidiary or an ERISA Affiliate or (b) was at any time during the six
calendar years preceding the Effective Date, sponsored, maintained or contributed to by the Borrower or a Subsidiary or an ERISA Affiliate. 

“Prime Rate” means the rate of interest per annum publicly announced from time to time by the Administrative Agent as its
prime rate in effect at its principal office in New York City; each change in the Prime Rate shall be effective from and including the date such change is publicly announced as being effective. Such rate is set by the Administrative Agent as a
general reference rate of interest, taking into account such factors as the Administrative Agent may deem appropriate; it being understood that many of the Administrative Agent’s commercial or other loans are priced in relation to such rate,
that it is not necessarily the lowest or best rate actually charged to any customer and that the Administrative Agent may make various commercial or other loans at rates of interest having no relationship to such rate. 

“Pro Forma Adjustment” means, for purposes of calculating compliance with any financial covenant or financial term: 

(a) acquisitions that have been made by Parent, the Borrower or any of their respective Subsidiaries, including through mergers or
consolidations, or any Person or any of its Subsidiaries acquired by Parent, the Borrower or any of their respective Subsidiaries, and including all related financing transactions and including increases in ownership of Subsidiaries, during the
four-quarter reference period or subsequent to such reference period and on or prior to the date specified herein for the calculation of such covenant or term (such date, the “Calculation Date”), or that are to be made on the
Calculation Date, will be given pro forma effect as if they had occurred on the first day of the four-quarter reference period; 
 (b) the
EBITDAX attributable to discontinued operations, as determined in accordance with GAAP, and operations or businesses (and ownership interests therein) Disposed of prior to the Calculation Date, will be excluded; 

(c) if any Debt bears a floating rate of interest, the interest expense on such Debt will be calculated as if the rate in effect on the
Calculation Date had been the applicable rate for the entire period (taking into account any Swap Agreement applicable to such Debt if such Swap Agreement has a remaining term as at the Calculation Date in excess of 12 months); and 

(d) pro forma adjustments in respect of cost savings, operating expense reductions and synergies, in each case, related to mergers, business
combinations, acquisitions, divestitures and restructurings consummated by the Borrower or any Subsidiary that management of the Borrower reasonably expects to be realized within twelve months following the consummation of such transaction;
provided the amount of such Pro Forma Adjustment pursuant to this clause (d) shall not exceed $6,000,000 for any four consecutive fiscal quarters. 

  
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 “Property” means any interest in any kind of property or asset, whether
real, personal or mixed, or tangible or intangible, including, without limitation, cash, securities, accounts and contract rights. 

“Proposed Borrowing Base” has the meaning assigned to such term in Section 2.07(c)(i). 

“Proposed Borrowing Base Notice” has the meaning assigned to such term in Section 2.07(c)(ii). 

“Proved Reserves” means Oil and Gas Properties that, in accordance with the Definitions for Oil and Gas Reserves promulgated
by the Society of Petroleum Engineers (or any generally recognized successor), as in effect at the time in question, are classified as both “Proved Reserves” and one of the following: (a) “Developed Producing Reserves,” (b)
“Developed Non-Producing Reserves” or (c) “Undeveloped Reserves” in the Reserve Report most recently delivered to the Administrative Agent pursuant to this Agreement. 

“PV-10 Value” means, as of any date of determination for the Loan Parties, the
discounted net present value, on a pre-income tax basis, of projected future cash flows from the production of Proved Reserves attributable to the Loan Parties’ Oil and Gas Properties as set forth in the
most recent Reserve Report delivered pursuant hereto, calculated in accordance with the SEC guidelines and using the five-year strip price for crude oil (WTI Cushing) and natural gas (Henry Hub), with such price held flat for each subsequent year,
quoted on the New York Mercantile Exchange (or its successor) on such date of determination and adjusted by appropriate management adjustments for additions to reserves and depletion or sale of reserves since the date of such Reserve Report,
adjusted for any basis differential as of the date of determination, as of the date of estimation without future escalation, and discounted using an annual discount rate of 10%. PV-10 Value shall be adjusted
to give effect to (a) the Swap Agreements permitted by this Agreement as in effect on the date of such determination and (b) the present value of restricted cash held for future abandonment liability, as determined by Parent and
$66.0 million in payment obligations of sellers of previously acquired assets with respect to asset retirement obligations associated with such acquired assets. 

“Qualified ECP Guarantor” means, in respect of any Secured Swap Agreement, each Loan Party that has total assets exceeding
$10,000,000 at the time such Secured Swap Agreement is incurred or such other person as constitutes an ECP under the Commodity Exchange Act or any regulations promulgated thereunder. 

“Qualified Equity Offering” means the issuance by the Borrower or any direct or indirect parent of the Borrower of its Equity
Interests generating gross proceeds exceeding $50,000,000, in an underwritten primary registered or private offering (whether alone or in connection with a secondary registered or private offering). 

“Redemption” means with respect to any Debt, the repurchase, redemption, prepayment, repayment, defeasance or any other
acquisition or retirement for value (or the segregation of funds with respect to any of the foregoing) of such Debt. “Redeem” has the correlative meaning thereto. 

  
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 “Redetermination Date” means, with respect to any Scheduled Redetermination
or any Interim Redetermination, the date that the redetermined Borrowing Base related thereto becomes effective pursuant to Section 2.07(d). 

“Refinanced Debt” has the meaning assigned such term in the definition of “Permitted Refinancing Debt”. 

“Register” has the meaning assigned to such term in Section 12.04(b)(iv). 

“Regulation D” means Regulation D of the Board, as the same may be amended, supplemented or replaced from time to time. 

“Related Parties” means, with respect to any specified Person, such Person’s Affiliates and the respective directors,
officers, employees, agents and advisors (including attorneys, accountants and experts) of such Person and such Person’s Affiliates. 

“Release” means any depositing, spilling, leaking, pumping, pouring, placing, emitting, discarding, abandoning, emptying,
discharging, migrating, injecting, escaping, leaching, dumping, or disposing. 
 “Remedial Work” has the meaning assigned
to such term in Section 8.10(a). 
 “Required Lenders” means, at any time while no Loan or LC Exposure is outstanding,
Lenders having at least 66-2/3% of the Aggregate Maximum Credit Amounts; and at any time while any Loan or LC Exposure is outstanding, Lenders holding at least 66-2/3%
of the outstanding aggregate principal amount of the Loans or participation interests in such Letters of Credit (without regard to any sale by a Lender of a participation in any Loan under Section 12.04(c)); provided that the Maximum Credit Amounts
and the principal amount of the Loans and participation interests in Letters of Credit of the Defaulting Lenders (if any) shall be excluded from the determination of Required Lenders; provided further that at any time there are fewer
than four Lenders (but more than one Lender), at least two Lenders will be required to constitute Required Lenders. 
 “Reserve
Report” means a report, in form and substance reasonably satisfactory to the Administrative Agent, setting forth, as of each January 1 or July 1 (or such other date in the event of an Interim Redetermination) the proved oil and
gas reserves attributable to the Oil and Gas Properties of the Borrower and the Subsidiaries, together with a projection of the rate of production and future net income, taxes, operating expenses and capital expenditures with respect thereto as of
such date, based upon the economic assumptions consistent with the Administrative Agent’s lending requirements at the time. 

“Responsible Officer” means, as to any Person, the Chief Executive Officer, the President, any Financial Officer or any Vice
President of such Person. Unless otherwise specified, all references to a Responsible Officer herein shall mean a Responsible Officer of the Borrower. 

  
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 “Restricted Payment” means any dividend or other distribution (whether in
cash, securities or other Property) with respect to any Equity Interests in the Parent, the Borrower or any of its Subsidiaries, or any payment (whether in cash, securities or other Property), including any sinking fund or similar deposit, on
account of the purchase, redemption, retirement, acquisition, cancellation or termination of any such Equity Interests in the Parent, the Borrower or any of its Subsidiaries or any option, warrant or other right to acquire any such Equity Interests
in the Parent, the Borrower or any of its Subsidiaries. 
 “Revolving Credit Exposure” means, with respect to any Lender at
any time, the sum of the outstanding principal amount of such Lender’s Loans and its LC Exposure at such time. 
 “Sanctioned
Country”: means, at any time, a country, region or territory which is itself, or whose government is, the subject or target of any Sanctions broadly restricting or prohibiting dealings with such country, territory or government (at the time
of this Agreement, Crimea, Cuba, Iran, Burma, North Korea, Sudan and Syria). 
 “Sanctioned Person”: means, at any time,
(a) any Person listed in any Sanctions-related list of designated Persons maintained by the Office of Foreign Assets Control of the U.S. Department of the Treasury or the U.S. Department of State, (b) any Person operating, organized or
resident in a Sanctioned Country or (c) any Person controlled by any such Person. 
 “Sanctions”: means, economic or
financial sanctions or trade embargoes imposed, administered or enforced from time to time by the U.S. government, including those administered by the Office of Foreign Assets Control of the U.S. Department of the Treasury or the U.S. Department of
State. 
 “Scheduled Redetermination” has the meaning assigned to such term in Section 2.07(b). 

“Scheduled Redetermination Date” means the date on which a Borrowing Base that has been redetermined pursuant to a Scheduled
Redetermination becomes effective as provided in Section 2.07(d). 
 “SEC” means the Securities and Exchange
Commission or any successor Governmental Authority. 
 “Second Lien Administrative Agent” means Bank of Montreal as
administrative agent under the Second Lien Term Loan Agreement. 
 “Second Lien Loans” means the term loans in an original
stated principal amount of up to $225,000,000 as incurred under the Second Lien Term Loan Agreement and the Incremental Second Lien Loan Agreement, together with all amendments, modifications, replacements, extensions and rearrangements thereof
permitted by Section 9.04(b). 
 “Second Lien Term Loan Agreement” means that certain Second Lien Term Loan Agreement
dated as of July 29, 2014, among the Borrower, the Second Lien Administrative Agent and all other lenders party thereto from time to time and together with all amendments, modifications and supplements thereto permitted by Section 9.04(b).

  
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 “Second Lien Term Loan Documents” means the Second Lien Term Loan
Agreement, the Incremental Term Loans Documents and any other “Loan Document (as defined therein), in each case together with all amendments, modifications and supplements thereto to the extent permitted by Section 9.04(b). 

“Secured Cash Management Agreement” means a Cash Management Agreement between (a) the Borrower or any Subsidiary and
(b) a Secured Cash Management Provider. 
 “Secured Cash Management Obligations” means any and all amounts and other
obligations owing by the Borrower or any Subsidiary to any Secured Cash Management Provider under any Secured Cash Management Agreement. 

“Secured Cash Management Provider” means a Lender, an Affiliate of a Lender, the Administrative Agent or an Affiliate of the
Administrative Agent. 
 “Secured Obligations” means (a) any and all amounts owing by the Borrower, any Subsidiary or
any Guarantor (whether direct or indirect (including those acquired by assumption), absolute or contingent, due or to become due, now existing or hereafter arising) to the Administrative Agent, the Issuing Bank or any Lender under any Loan Document;
(b) all Secured Swap Obligations; (c) all Secured Cash Management Obligations; and (d) all renewals, extensions and/or rearrangements of any of the above. Without limitation of the foregoing, the term “Secured Obligations”
shall include the unpaid principal of and interest on the Loans and LC Exposure (including, without limitation, interest accruing at the then applicable rate provided in this Agreement after the maturity of the Loans and LC Exposure and interest
accruing at the then applicable rate provided in this Agreement after the filing of any petition in bankruptcy, or the commencement of any insolvency, reorganization or like proceeding, relating to the Borrower, any of its Subsidiaries or any
Guarantor whether or not a claim for post-filing or post-petition interest is allowed in such proceeding), reimbursement obligations (including, without limitation, to reimburse LC Disbursements), obligations to post cash collateral in respect of
Letters of Credit, payments in respect of an early termination of Secured Swap Obligations and unpaid amounts, fees, expenses, indemnities, costs, and all other obligations and liabilities of every nature of the Borrower, any Subsidiary or any
Guarantor, whether absolute or contingent, due or to become due, now existing or hereafter arising under this Agreement, the other Loan Documents, any Secured Swap Agreement or any Secured Cash Management Agreement; provided that the Secured
Obligations of a Guarantor shall exclude any Excluded Swap Obligations with respect to such Guarantor. 
 “Secured Swap
Agreement” means any Swap Agreement between the Borrower or any Subsidiary and any Person that is entered into prior to the time, or during the time, that such Person was, a Lender or an Affiliate of a Lender (including any such Swap
Agreement in existence prior to the date hereof), even if such Person subsequently ceases to be a Lender (or an Affiliate of a Lender) for any reason (any such Person, a “Secured Swap Party”); provided that, for the avoidance of doubt, the
term “Secured Swap Agreement” shall not include any Swap Agreement or transactions under any Swap Agreement entered into after the time that such Secured Swap Party ceases to be a Lender or an Affiliate of a Lender. 

  
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 “Secured Swap Obligations” means all amounts and other obligations owing to
any Secured Swap Party under any Secured Swap Agreement; provided that the Secured Swap Obligations of the Borrower or any Guarantor, respectively, shall not include the Excluded Swap Obligations of the Borrower or such Guarantor, as applicable.

 “Secured Swap Party” has the meaning assigned to such term in the definition of Secured Swap Agreement. 

“Securities Account” has the meaning assigned to such term in the UCC. 

“Securities Purchase Agreement” means that certain Securities Purchase Agreement, dated as of December 11, 2016, by and
among the Parent and the purchasers party thereto, as amended, amended and restated, supplemented or otherwise modified from time to time. 

“Security Instruments” means the Guaranty Agreement, mortgages, deeds of trust and other agreements, instruments or
certificates described or referred to in Exhibit E, and any and all other agreements, instruments, consents or certificates, including each Control Agreement now or hereafter executed and delivered by the Borrower or any other Person (other than
Swap Agreements or participation or similar agreements between any Lender and any other lender or creditor with respect to any Secured Obligations pursuant to this Agreement) in connection with, or as security for the payment or performance of the
Secured Obligations, the Notes, this Agreement, or reimbursement obligations under the Letters of Credit, as such agreements may be amended, modified, supplemented or restated from time to time. 

“Shell Offshore” means Shell Offshore Inc., a Delaware corporation. 

“S&P” means Standard & Poor’s Ratings Group, a division of The McGraw-Hill Companies, Inc., and any
successor thereto that is a nationally recognized rating agency. 
 “Specified Affiliate Transactions” means each of the
transactions referenced or described under the heading “Certain Relationships and Related Party Transactions” in the preliminary offering memorandum of EnVen Energy Corporation dated October 9, 2015 (the “Preliminary Offering
Memorandum”) and each of the Organizational Transactions (as such term is defined in the Preliminary Offering Memorandum). 

“Specified Equity Contribution” has the meaning assigned to such term in Section 9.01(d). 

“Statutory Reserve Rate” means a fraction (expressed as a decimal), the numerator of which is the number one and the
denominator of which is the number one minus the aggregate of the maximum reserve percentages (including any marginal, special, emergency or supplemental reserves) expressed as a decimal established by the Board to which the Administrative Agent is
subject for eurocurrency funding (currently referred to as “Eurocurrency Liabilities” in Regulation D of the Board). Such reserve percentages shall include those imposed pursuant to such Regulation D. Eurodollar Loans shall be deemed to
constitute eurocurrency funding and to be subject to such reserve requirements without benefit of or credit for proration, exemptions or offsets that may be available from time to time to any Lender under such Regulation D or any comparable
regulation. The Statutory Reserve Rate shall be adjusted automatically on and as of the effective date of any change in any reserve percentage. 

  
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 “subsidiary” means, with respect to any Person (the “parent”) at
any date, any other Person the accounts of which would be consolidated with those of the parent in the parent’s consolidated financial statements if such financial statements were prepared in accordance with GAAP as of such date, as well as any
other Person (a) of which Equity Interests representing more than 50% of the equity or more than 50% of the ordinary voting power (irrespective of whether or not at the time Equity Interests of any other class or classes of such Person shall
have or might have voting power by reason of the happening of any contingency) or, in the case of a partnership, any general partnership interests are, as of such date, owned, controlled or held, or (b) that is, as of such date, otherwise
Controlled, by the parent or one or more subsidiaries of the parent or by the parent and one or more subsidiaries of the parent. 

“Subsidiary” means any subsidiary of the Borrower. 

“Subsidiary Guarantor” means any Subsidiary of the Borrower that is a Guarantor. 

“Swap Agreement” means any agreement with respect to any swap, cap, collar, forward, future or derivative transaction or
option or similar agreement, whether exchange traded, “over-the-counter” or otherwise, involving, or settled by reference to, one or more rates, currencies,
commodities, equity or debt instruments or securities, or economic, financial or pricing indices or measures of economic, financial or pricing risk or value or any similar transaction or any combination of these transactions. 

“Swap Agreement PV” means, with respect to any commodity Swap Agreement, the present value, discounted at 10% per annum, of
the future receipts expected to be paid to the Borrower or the Subsidiaries thereunder netted against the most recent price deck provided to the Borrower by the Administrative Agent; provided, however, that the “Swap Agreement
PV” shall never be less than $0.00. 
 “Swap Obligation” means, with respect to any Guarantor, any obligation to pay
or perform under any agreement, contract or transaction that constitutes a “swap” within the meaning of section 1a(47) of the Commodity Exchange Act. 

“Swap Termination Value” means, in respect of any one or more Swap Agreements, after taking into account the effect of any
legally enforceable netting agreement relating to such Swap Agreements, (a) for any date on or after the date such Swap Agreements have been closed out and termination value(s) determined in accordance therewith, such termination value(s) and
(b) for any date prior to the date referenced in clause (a), the amount(s) determined as the mark-to-market value(s) for such Swap Agreements, as determined by the
counterparties to such Swap Agreements. 
 “Synthetic Leases” means, in respect of any Person, all leases which shall have
been, or should have been, in accordance with GAAP, treated as operating leases on the financial statements of the Person liable (whether contingently or otherwise) for the payment of rent thereunder and which were properly treated as debt for
borrowed money for purposes of U.S. Federal income taxes, if the lessee in respect thereof is obligated to either purchase for an 

  
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amount in excess of, or pay upon early termination an amount in excess of, 80% of the residual value of the Property subject to such operating lease upon expiration or early termination of such
lease. Notwithstanding the foregoing, the leases of corporate office space by the Borrower or any of its Subsidiaries in Metairie, Louisiana and Houston, Texas shall not constitute “Synthetic Leases” (and the obligations thereunder shall
not constitute “Debt”). 
 “Taxes” means any and all present or future taxes, levies, imposts, duties,
deductions, charges or withholdings (including backup withholding), assessments, fees or other charges, imposed by any Governmental Authority including any interest, additions to tax or penalties applicable thereto. 

“Termination Date” means the earlier of the Maturity Date and the date of termination of the Commitments. 

“Test Date” has the meaning assigned to such term in Section 9.01(d). 

“Total Funded Debt” means, at any time, all Debt of the Borrower and the Consolidated Subsidiaries of the type described in
clauses (a), (b) (to the extent of unreimbursed obligations thereunder), (d), (e), (l) and (m) of the definition of “Debt”; provided that there shall be excluded from any calculation of Total Funded Debt the amount of any Debt
incurred pursuant to Section 9.02(c) or Section 9.02(i); provided further that, notwithstanding the foregoing, any such exclusion shall not to exceed $15,000,000. 

“Transactions” means, collectively, (a) the execution, delivery and performance by each Loan Party of the Loan Documents
to which it is a party and the borrowing of Loans, the use of the proceeds thereof and the issuance of Letters of Credit hereunder, (b) the grant of Liens by the Borrower and each other Loan Party on Mortgaged Properties pursuant to the
Security Instruments, and with respect to each Guarantor, the guaranteeing of the Secured Obligations and the other obligations under the Guaranty Agreement by such Guarantor, (c) the repayment (or deemed repayment) of all amounts due or
outstanding under or in respect of, and the amendment and restatement of, the Existing Credit Agreement, (d) the execution, delivery and performance by each Loan Party of the Incremental Second Lien Facility Documents to which it is a party and
the issuance of the Second Lien Loans made thereunder, (e) the consummation of the Acquisition and the other transactions contemplated by the Acquisition Documents, (f) the issuance of the Effective Date Preferred Equity and (g) the
payment of the fees, premiums, expenses and other transaction costs (including original issue discount and upfront fees) in connection with the foregoing transactions and the transactions contemplated thereby. 

“Type”, when used in reference to any Loan or Borrowing, refers to whether the rate of interest on such Loan, or on the Loans
comprising such Borrowing, is determined by reference to the Alternate Base Rate or the Adjusted LIBO Rate. 
 “UCC” means
the Uniform Commercial Code as in effect in the State of New York. 
 “Voting Stock” means, with respect to any specified
Person, the Equity Interests of such Person entitling the holders thereof (whether at all times or only so long as no senior class of Equity Interest has voting power by reason of any contingency) to vote in the election of members of the board of
directors, board of managers or similar governing body of such Person; provided that with respect to a limited partnership or other entity which does not have a Board of Directors, Voting Stock means the Equity Interests of the general partner of
such limited partnership or other business entity with the ultimate authority to manage the business and operations of such Person. 

  
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 “Wholly-Owned Subsidiary” means any Subsidiary of which all of the
outstanding Equity Interests (other than any directors’ qualifying shares mandated by applicable law), on a fully-diluted basis, are owned by the Borrower or one or more of the Wholly-Owned Subsidiaries or are owned by the Borrower and one or
more of the Wholly-Owned Subsidiaries. 
 “Withdrawal Liability” means liability to a Multiemployer Plan as a result of a
complete or partial withdrawal from such Multiemployer Plan, as such terms are defined in Part I of Subtitle E of Title IV of ERISA. 

“Write-Down and Conversion Powers” means, with respect to any EEA Resolution Authority, the write-down and conversion powers
of such EEA Resolution Authority from time to time under the Bail-In Legislation for the applicable EEA Member Country, which write-down and conversion powers are described in the EU Bail-In Legislation Schedule. 
 Section 1.03. Types of Loans and Borrowings. For purposes of
this Agreement, Loans and Borrowings, respectively, may be classified and referred to by Type (e.g., a “Eurodollar Loan” or a “Eurodollar Borrowing”). 

Section 1.04. Terms Generally; Rules of Construction. The definitions of terms herein shall apply equally to the singular and
plural forms of the terms defined. Whenever the context may require, any pronoun shall include the corresponding masculine, feminine and neuter forms. The words “include”, “includes” and “including” as used in this
Credit Agreement shall be deemed to be followed by the phrase “without limitation”. The word “will” shall be construed to have the same meaning and effect as the word “shall”. Unless the context requires otherwise
(a) any definition of or reference to any agreement, instrument or other document herein shall be construed as referring to such agreement, instrument or other document as from time to time amended, supplemented or otherwise modified (subject
to any restrictions on such amendments, supplements or modifications set forth in the Loan Documents), (b) any reference herein to any law shall be construed as referring to such law as amended, modified, codified or reenacted, in whole or in part,
and in effect from time to time, (c) any reference herein to any Person shall be construed to include such Person’s successors and assigns (subject to the restrictions contained in the Loan Documents), (d) the words “herein”,
“hereof” and “hereunder”, and words of similar import, shall be construed to refer to this Agreement in its entirety and not to any particular provision hereof, (e) with respect to the determination of any time period, the
word “from” means “from and including” and the word “to” means “to but excluding” and (f) any reference herein to Articles, Sections, Annexes, Exhibits and Schedules shall be construed to refer to
Articles and Sections of, and Annexes, Exhibits and Schedules to, this Agreement. No provision of this Agreement or any other Loan Document shall be interpreted or construed against any Person solely because such Person or its legal representative
drafted such provision. 

  
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 Section 1.05. Accounting Terms and Determinations; GAAP. Unless otherwise
specified herein, all financial statements and reports as to financial matters required to be furnished to the Administrative Agent or the Lenders hereunder shall be prepared in accordance with GAAP as in effect from time to time. All accounting
terms used herein shall be interpreted, and all determinations with respect to accounting matters hereunder (including with respect to Section 9.01) shall be made in accordance with GAAP as in effect on the Effective Date unless otherwise
agreed to by the Borrower and the Majority Lenders. In the event of any change in GAAP or in the application thereof that would have an effect on the calculation of any financial provisions in this Agreement, the Borrower will furnish to the
Administrative Agent and each Lender a certificate of a Financial Officer specifying such change and the effect of such change on such calculations. 

ARTICLE II  
 THE CREDITS

 Section 2.01. Commitments. Subject to the terms and conditions set forth herein, each Lender agrees to make Loans to the
Borrower during the Availability Period in an aggregate principal amount that will not result in (a) such Lender’s Revolving Credit Exposure exceeding such Lender’s Commitment at such time, or (b) the total Revolving Credit
Exposures exceeding the total Commitments at such time. Within the foregoing limits and subject to the terms and conditions set forth herein, the Borrower may borrow, repay and reborrow the Loans. 

Section 2.02. Loans and Borrowings. 

(a) Borrowings; Several Obligations. Each Loan shall be made as part of a Borrowing consisting of Loans made by the Lenders ratably in
accordance with their respective Commitments. The failure of any Lender to make any Loan required to be made by it shall not relieve any other Lender of its obligations hereunder; provided that the Commitments are several and no Lender shall
be responsible for any other Lender’s failure to make Loans as required. 
 (b) Types of Loans. Subject to Section 3.03,
each Borrowing shall be comprised entirely of ABR Loans or Eurodollar Loans as the Borrower may request in accordance herewith. Each Lender at its option may make any Eurodollar Loan by causing any domestic or foreign branch or Affiliate of such
Lender to make such Loan; provided that any exercise of such option shall not affect the obligation of the Borrower to repay such Loan in accordance with the terms of this Agreement. 

(c) Minimum Amounts; Limitation on Number of Borrowings. At the commencement of each Interest Period for any Eurodollar Borrowing, such
Borrowing shall be in an aggregate amount that is an integral multiple of $100,000 and not less than $1,000,000. At the time that each ABR Borrowing is made, such Borrowing shall be in an aggregate amount that is an integral multiple of $100,000 and
not less than $500,000; provided that an ABR Borrowing may be in an aggregate amount that is equal to the entire unused balance of the total Commitments or that is required to finance the reimbursement of an LC Disbursement as contemplated by
Section 2.08(e). Borrowings of more than one Type may be outstanding at the same time, provided that there shall not at any time be more than a total of five (5) Eurodollar Borrowings outstanding unless the Administrative Agent otherwise
agrees. Notwithstanding any other provision of this Agreement, the Borrower shall not be entitled to request, or to elect to convert or continue, any Borrowing if the Interest Period requested with respect thereto would end after the Maturity Date.

  
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 (d) Notes. The Loans made by each Lender shall, following request by such Lender, be
evidenced by a single promissory note of the Borrower in substantially the form of Exhibit A, dated, in the case of (i) any Lender party hereto as of the Effective Date, as of the Effective Date, (ii) any Lender that becomes a party hereto
pursuant to an Assignment and Assumption, as of the effective date of the Assignment and Assumption, or (iii) any Lender that becomes a party hereto in connection with an increase in the Aggregate Elected Commitments pursuant to Section
2.06(c), as of the effective date of such increase, payable to such Lender in a principal amount equal to its Maximum Credit Amount as in effect on such date, and otherwise duly completed. In the event that any Lender’s Maximum Credit Amount
increases or decreases for any reason (whether pursuant to Section 2.06, Section 12.04(b) or otherwise), the Borrower shall deliver or cause to be delivered on the effective date of such increase or decrease, a new Note payable to such
Lender in a principal amount equal to its Maximum Credit Amount after giving effect to such increase or decrease, and otherwise duly completed. The date, amount, Type, interest rate and, if applicable, Interest Period of each Loan made by each
Lender, and all payments made on account of the principal thereof, shall be recorded by such Lender on its books for its Note, and, prior to any transfer, may be endorsed by such Lender on a schedule attached to such Note or any continuation thereof
or on any separate record maintained by such Lender. Failure to make any such notation or to attach a schedule shall not affect any Lender’s or the Borrower’s rights or obligations in respect of such Loans or affect the validity of such
transfer by any Lender of its Note. 
 Section 2.03. Requests for Borrowings. To request a Borrowing, the Borrower shall notify
the Administrative Agent of such request by telephone (a) in the case of a Eurodollar Borrowing, not later than 12:00 noon, Houston time, three Business Days before the date of the proposed Borrowing or (b) in the case of an ABR Borrowing,
not later than 12:00 noon, Houston time, on the date of the proposed Borrowing; provided that no such notice shall be required for any deemed request of an ABR Borrowing to finance the reimbursement of an LC Disbursement as provided in
Section 2.08(e). Each such telephonic Borrowing Request shall be irrevocable and shall be confirmed promptly by hand delivery or telecopy to the Administrative Agent of a written Borrowing Request in substantially the form of Exhibit B and
signed by the Borrower. Each such telephonic and written Borrowing Request shall specify the following information in compliance with Section 2.02: 

(i) the aggregate amount of the requested Borrowing; 

(ii) the date of such Borrowing, which shall be a Business Day; 

(iii) whether such Borrowing is to be an ABR Borrowing or a Eurodollar Borrowing; 

(iv) in the case of a Eurodollar Borrowing, the initial Interest Period to be applicable thereto, which shall be a period
contemplated by the definition of the term “Interest Period”; 

  
 40 

 (v) the amount of the then effective Borrowing Base, the Aggregate Elected
Commitments, the current total Revolving Credit Exposures (without regard to the requested Borrowing) and the pro forma total Revolving Credit Exposures (giving effect to the requested Borrowing); 

(vi) the pro forma Consolidated Cash Balance (giving effect to the requested Borrowing and the use of the proceeds thereof);
and 
 (vii) the location and number of the Borrower’s account to which funds are to be disbursed, which shall comply
with the requirements of Section 2.05. 
 If no election as to the Type of Borrowing is specified, then the requested Borrowing shall be an ABR
Borrowing. If no Interest Period is specified with respect to any requested Eurodollar Borrowing, then the Borrower shall be deemed to have selected an Interest Period of one month’s duration. Each Borrowing Request shall constitute a
representation that (a) the amount of the requested Borrowing does not cause the total Revolving Credit Exposures to exceed the total Commitments (i.e., the least of the Aggregate Maximum Credit Amounts, the then effective Borrowing Base
and the Aggregate Elected Commitments) and (b) after giving pro forma effect to the requested Borrowing and the use of proceeds thereof, the Consolidated Cash Balance does not exceed the Consolidated Cash Balance Borrowing Threshold. 

Promptly following receipt of a Borrowing Request in accordance with this Section 2.03, the Administrative Agent shall advise each Lender of the details
thereof and of the amount of such Lender’s Loan to be made as part of the requested Borrowing. 
 Section 2.04. Interest
Elections. 
 (a) Conversion and Continuance. Each Borrowing initially shall be of the Type specified in the applicable Borrowing
Request and, in the case of a Eurodollar Borrowing, shall have an initial Interest Period as specified in such Borrowing Request. Thereafter, the Borrower may elect to convert such Borrowing to a different Type or to continue such Borrowing and, in
the case of a Eurodollar Borrowing, may elect Interest Periods therefor, all as provided in this Section 2.04. The Borrower may elect different options with respect to different portions of the affected Borrowing, in which case each such
portion shall be allocated ratably among the Lenders holding the Loans comprising such Borrowing, and the Loans comprising each such portion shall be considered a separate Borrowing. 

(b) Interest Election Requests. To make an election pursuant to this Section 2.04, the Borrower shall notify the Administrative
Agent of such election by telephone by the time that a Borrowing Request would be required under Section 2.03 if the Borrower were requesting a Borrowing of the Type resulting from such election to be made on the effective date of such
election. Each such telephonic Interest Election Request shall be irrevocable and shall be confirmed promptly by hand delivery or telecopy to the Administrative Agent of a written Interest Election Request in substantially the form of Exhibit C and
signed by the Borrower. 

  
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 (c) Information in Interest Election Requests. Each telephonic and written Interest
Election Request shall specify the following information in compliance with Section 2.02: 
 (i) the Borrowing to which
such Interest Election Request applies and, if different options are being elected with respect to different portions thereof, the portions thereof to be allocated to each resulting Borrowing (in which case the information to be specified pursuant
to Section 2.04(c)(iii) and (iv) shall be specified for each resulting Borrowing); 
 (ii) the effective date of
the election made pursuant to such Interest Election Request, which shall be a Business Day; 
 (iii) whether the resulting
Borrowing is to be an ABR Borrowing or a Eurodollar Borrowing; and 
 (iv) if the resulting Borrowing is a Eurodollar
Borrowing, the Interest Period to be applicable thereto after giving effect to such election, which shall be a period contemplated by the definition of the term “Interest Period”. 

If any such Interest Election Request requests a Eurodollar Borrowing but does not specify an Interest Period, then the Borrower shall be deemed to have
selected an Interest Period of one month’s duration. 
 (d) Notice to Lenders by the Administrative Agent. Promptly following
receipt of an Interest Election Request, the Administrative Agent shall advise each Lender of the details thereof and of such Lender’s portion of each resulting Borrowing. 

(e) Effect of Failure to Deliver Timely Interest Election Request and Events of Default and Borrowing Base Deficiencies on Interest
Election. If the Borrower fails to deliver a timely Interest Election Request with respect to a Eurodollar Borrowing prior to the end of the Interest Period applicable thereto, then, unless such Borrowing is repaid as provided herein, at the end
of such Interest Period such Borrowing shall be continued as a Eurodollar Borrowing with an Interest Period of one month. Notwithstanding any contrary provision hereof, if an Event of Default has occurred and is continuing: (i) no outstanding
Borrowing may be converted to or continued as a Eurodollar Borrowing (and any Interest Election Request that requests the conversion of any Borrowing to, or continuation of any Borrowing as, a Eurodollar Borrowing shall be ineffective) and
(ii) unless repaid, each Eurodollar Borrowing shall be converted to an ABR Borrowing at the end of the Interest Period applicable thereto. 

Section 2.05. Funding of Borrowings. 

(a) Funding by Lenders. Each Lender shall make each Loan to be made by it hereunder on the proposed date thereof by wire transfer of
immediately available funds by 1:00 p.m., Houston time, to the account of the Administrative Agent most recently designated by it for such purpose by notice to the Lenders. The Administrative Agent will make such Loans available to the Borrower by
promptly crediting the amounts so received, in like funds, to an account of the Borrower maintained with the Administrative Agent and designated by the Borrower in the applicable Borrowing Request; provided that ABR Loans made to finance the
reimbursement of an LC Disbursement as provided in Section 2.08(e) shall be remitted by the Administrative Agent to the Issuing Bank. Nothing herein shall be deemed to obligate any Lender to obtain the funds for its Loan in any particular place
or manner or to constitute a representation by any Lender that it has obtained or will obtain the funds for its Loan in any particular place or manner. 

  
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 (b) Presumption of Funding by the Lenders. Unless the Administrative Agent shall have
received notice from a Lender prior to the proposed date of any Borrowing that such Lender will not make available to the Administrative Agent such Lender’s share of such Borrowing, the Administrative Agent may assume that such Lender has made
such share available on such date in accordance with Section 2.05(a) and may, in reliance upon such assumption, make available to the Borrower a corresponding amount. In such event, if a Lender has not in fact made its share of the applicable
Borrowing available to the Administrative Agent, then the applicable Lender and the Borrower severally agree to pay to the Administrative Agent forthwith on demand such corresponding amount with interest thereon, for each day from and including the
date such amount is made available to the Borrower to but excluding the date of payment to the Administrative Agent, at (i) in the case of such Lender, the greater of the Federal Funds Effective Rate and a rate determined by the Administrative
Agent in accordance with banking industry rules on interbank compensation or (ii) in the case of the Borrower, the interest rate applicable to ABR Loans. If such Lender pays such amount to the Administrative Agent, then such amount shall
constitute such Lender’s Loan included in such Borrowing. 
 Section 2.06. Termination and Reduction of Aggregate Maximum
Credit Amounts; Optional Increase and Reduction of Aggregate Elected Commitments. 
 (a) Scheduled Termination of Commitments.
Unless previously terminated, the Commitments shall terminate on the Maturity Date. If at any time the Aggregate Maximum Credit Amounts, the Borrowing Base or the Aggregate Elected Commitments is terminated or reduced to zero, then the Commitments
shall terminate on the effective date of such termination or reduction. 
 (b) Optional Termination and Reduction of Aggregate Credit
Amounts. 
 (i) The Borrower may at any time terminate, or from time to time reduce, the Aggregate Maximum Credit
Amounts; provided that (A) each reduction of the Aggregate Maximum Credit Amounts shall be in an amount that is an integral multiple of $1,000,000 and not less than $5,000,000, (B) the Borrower shall not terminate or reduce the Aggregate
Maximum Credit Amounts if, after giving effect to any concurrent prepayment of the Loans in accordance with Section 3.04(b), the total Revolving Credit Exposures would exceed the total Commitments and (C) upon any reduction of the
Aggregate Maximum Credit Amounts that results in the Aggregate Maximum Credit Amounts being less than the Aggregate Elected Commitments, the Aggregate Elected Commitments shall be automatically reduced (ratably among the Lenders) so that the
Aggregate Elected Commitments equal the Aggregate Maximum Credit Amounts as so reduced. 

  
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 (ii) The Borrower shall notify the Administrative Agent of any election to
terminate or reduce the Aggregate Maximum Credit Amounts under Section 2.06(b)(i) at least three Business Days prior to the effective date of such termination or reduction, specifying such election and the effective date thereof. Promptly
following receipt of any notice, the Administrative Agent shall advise the Lenders of the contents thereof. Each notice delivered by the Borrower pursuant to this Section 2.06(b)(ii) shall be irrevocable; provided that a notice of termination
of the Aggregate Maximum Credit Amounts delivered by the Borrower may state that such notice is conditioned upon the effectiveness of other credit facilities, in which case such notice may be revoked by the Borrower (by notice to the Administrative
Agent on or prior to the specified effective date) if such condition is not satisfied. Any termination or reduction of the Aggregate Maximum Credit Amounts shall be permanent and may not be reinstated. Each reduction of the Aggregate Maximum Credit
Amounts shall be made ratably among the Lenders in accordance with each Lender’s Applicable Percentage. 
 (c) Reduction,
Termination and Increase in Aggregate Elected Commitments. 
 (i) The Borrower may from time to time by written notice to
the Administrative Agent reduce or terminate the Aggregate Elected Commitments; provided that (A) each reduction of the Aggregate Elected Commitments shall be in an amount that is an integral multiple of $1,000,000 and not less than $5,000,000
and (B) such reduction or termination shall not become effective if, after giving effect to any concurrent prepayment of the Loans in accordance with Section 3.04(b), the total Revolving Credit Exposures would exceed the total Commitments.
The Borrower shall notify the Administrative Agent of any election to reduce or terminate the Aggregate Elected Commitments under this Section 2.06(c)(i) at least three Business Days prior to the effective date of such reduction or termination,
specifying such election and the effective date thereof. Promptly following receipt of any notice, the Administrative Agent shall advise the Lenders of the contents thereof. Each notice delivered by the Borrower pursuant to this
Section 2.06(c)(i) shall be irrevocable; provided that a notice of termination of the Aggregate Elected Commitments delivered by the Borrower may state that such notice is conditioned upon the effectiveness of other credit facilities, in which
case such notice may be revoked by the Borrower (by notice to the Administrative Agent on or prior to the specified effective date) if such condition is not satisfied. Each reduction of the Aggregate Elected Commitments shall occur on the effective
date of such reduction specified in such written notice and shall be made ratably among the Lenders in accordance with each Lender’s Applicable Percentage. 

(ii) Subject to the conditions set forth in this Section 2.06(c)(ii), the Borrower may, at any time and from time to time,
increase the Aggregate Elected Commitments then in effect up to an amount not to exceed the then effective Borrowing Base by increasing the Elected Commitment of a Lender or by causing a Person that is acceptable to the Administrative Agent and the
Issuing Bank that at such time is not a Lender to become a Lender (an “Additional Lender”). The Borrower shall provide written notice of such requested increase to the Administrative Agent (an “Increase Notice”)
which shall specify (x) the proposed effective date of the increase (the “Increase Effective Date”), which date shall be 

  
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no earlier than ten (10) Business Days after receipt by the Administrative Agent of such Increase Notice (or such shorter earlier date as may be reasonably acceptable to the Administrative
Agent) and (y) the amount of such requested increase to the Aggregate Elected Commitments. Any increase in the Aggregate Elected Commitments shall be subject to the following additional conditions: 

 

	 	(A)	 such increase shall be in an aggregate amount that is an integral multiple of $1,000,000 and not less than
$5,000,000 (or such lesser amount up to the Borrowing Base then in effect), unless in each case the Administrative Agent otherwise consents to a lesser amount; 

 

	 	(B)	 both immediately before and immediately after giving effect to such increase, no Default, Event of Default or
Borrowing Base Deficiency exists or would exist; 

  

	 	(C)	 following any Scheduled Redetermination Date, the Borrower may not increase the Aggregate Elected Commitments
more than once before the next Scheduled Redetermination Date; 

  

	 	(D)	 the Borrower shall have paid to the Administrative Agent, the Arranger and the Lenders all fees and other
amounts due and payable on or prior to the effective date of such increase (including in connection with such increase); 

  

	 	(E)	 no Lender shall be obligated to increase its Elected Commitment (it being understood that any Lender’s
decision to increase its Elected Commitment shall be made in its sole and absolute discretion and only with such Lender’s prior written consent); 

  

	 	(F)	 each existing Lender or Additional Lender that agrees to provide any portion of such increase shall evidence
its agreement by executing and delivering to the Borrower and the Administrative Agent an agreement substantially in the form of Exhibit H-1 or H-2 hereto, as applicable
(a “Lender Agreement”); and 

  

	 	(G)	 the Administrative Agent shall have received Lender Agreements with increased or additional Elected Commitments
in an aggregate amount equal to the requested increase to the Aggregate Elected Commitments as specified in the Increase Notice (or such lesser amount as the Borrower may elect in its sole discretion). 

  
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 (iii) Subject to the satisfaction of the conditions specified in Section
2.06(c)(ii), the requested increase to the Aggregate Elected Commitments shall become effective on the Increase Effective Date, and upon such effectiveness: (1) the Aggregate Elected Commitments automatically, without further action by the
Borrower, the Administrative Agent, the Issuing Bank or any Lender, shall be increased by an amount equal to the aggregate amount indicated in the executed Lender Agreements; and (2) the Aggregate Maximum Credit Amounts of the Lenders will be
reallocated so that after giving effect to the increase to the Aggregate Elected Commitments, each Lender’s Applicable Percentage equals the percentage of the Aggregate Elected Commitments represented by such Lender’s Elected Commitment.
The Administrative Agent, the Lenders and the Borrower hereby consent and agree to such reallocation. On the Increase Effective Date, the Administrative Agent shall distribute to the Borrower and the Lenders (including each Additional Lender) a
revised Annex I to this Agreement, which shall set forth the Maximum Credit Amount, Elected Commitment and Applicable Percentage of each Lender after giving effect to such reallocation, and such revised Annex I shall amend and restate and supersede
and replace Annex I to this Agreement as in effect immediately prior to the Increase Effective Date. With respect to such reallocation, each Lender shall be deemed to have acquired the Maximum Credit Amount and Commitment allocated to it from each
of the other Lenders pursuant to the terms of the Assignment and Assumption, as if the Lenders had executed an Assignment Agreement with respect to such allocation. On the Increase Effective Date, the Administrative Agent shall take the actions
specified in Section 12.04(b)(v), including recording the assignments described herein in the Register, and such assignments shall be effective for purposes of this Agreement. Notwithstanding Section 12.04(b)(ii)(C), no Person shall be
required to pay a processing and recordation fee of $3,500 to the Administrative Agent in connection with such assignments. If, on the Increase Effective Date, any Eurodollar Loans have been funded, then the Borrower shall be obligated to pay any
breakage fees or costs that are payable pursuant to Section 5.02 in connection with the reallocation of such outstanding Eurodollar Loans to effectuate the provisions of this paragraph. 

(iv) Notwithstanding anything herein to the contrary, contemporaneously with any increase in the Borrowing Base pursuant to
this Agreement, if (A) the Borrower elects to increase the Aggregate Elected Commitments ratably among the Lenders and (B) each Lender has consented to such increase in its Elected Commitment, then the Aggregate Elected Commitments shall
be increased (ratably among the Lenders in accordance with each Lender’s Applicable Percentage) by the amount requested by the Borrower (subject to the conditions set forth in Section 2.06(c)(ii)) without the requirement that any Lender
deliver a Lender Agreement. 
 Section 2.07. Borrowing Base. 

(a) Initial Borrowing Base. For the period from and including the Effective Date to but excluding the first Redetermination Date, the
amount of the Borrowing Base shall be $225,000,000. Notwithstanding the foregoing, the Borrowing Base may be subject to further adjustments from time to time pursuant to Section 2.07(e), Section 2.07(f), Section 2.07(g),
Section 2.07(h), or Section 8.13(c). 

  
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 (b) Scheduled and Interim Redeterminations. The Borrowing Base shall be redetermined
semi-annually in accordance with this Section 2.07 (a “Scheduled Redetermination”), and, subject to Section 2.07(d), such redetermined Borrowing Base shall become effective and applicable to the Borrower, the Agents, the
Issuing Bank and the Lenders on April 15th and October 15th of each year, commencing April 15, 2017. In addition, the Borrower may, by
notifying the Administrative Agent thereof, and the Administrative Agent may, at the direction of the Required Lenders, by notifying the Borrower thereof, one time during any 6-month period between Scheduled
Redeterminations, each elect to cause the Borrowing Base to be redetermined between Scheduled Redeterminations (an “Interim Redetermination”) in accordance with this Section 2.07. 

(c) Scheduled and Interim Redetermination Procedure. Each Scheduled Redetermination and each Interim Redetermination shall be
effectuated as follows: 
 (i) Upon receipt by the Administrative Agent of (A) the Reserve Report and the certificate
required to be delivered by the Borrower to the Administrative Agent, in the case of a Scheduled Redetermination, pursuant to Section 8.01(h) and Section 8.12(a), and, in the case of an Interim Redetermination, pursuant to
Section 8.01(h) and Section 8.12(b), and (B) such other reports, data and supplemental information, including, without limitation, the information provided pursuant to Section 8.01(h), as may, from time to time, be reasonably
requested by the Required Lenders (the Reserve Report, such certificate and such other reports, data and supplemental information being the “Engineering Reports”), the Administrative Agent shall evaluate the information contained in
the Engineering Reports and shall, in good faith, propose a new Borrowing Base (the “Proposed Borrowing Base”) based upon such information and such other information (including, without limitation, the status of title information
with respect to the Oil and Gas Properties as described in the Engineering Reports and the existence of any other Debt) as the Administrative Agent deems appropriate in its sole discretion and consistent with its normal and customary standards and
practices for determining the value of oil and gas properties in connection with reserve based oil and gas lending transactions as they exist at the particular time. In no event shall the Proposed Borrowing Base exceed the Aggregate Maximum Credit
Amounts. 
 (ii) The Administrative Agent shall notify the Borrower and the Lenders of the Proposed Borrowing Base (the
“Proposed Borrowing Base Notice”): 
  

	 	(A)	 in the case of a Scheduled Redetermination (1) if the Administrative Agent shall have received the
Engineering Reports required to be delivered by the Borrower pursuant to Section 8.12(a) in a timely and complete manner, then on or before the March 15th and September 15th of such year

  
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	 	following the date of delivery or (2) if the Administrative Agent shall not have received the Engineering Reports required to be delivered by the Borrower pursuant to Section 8.12(a) in a timely and complete
manner, then promptly after the Administrative Agent has received complete Engineering Reports from the Borrower and has had a reasonable opportunity to determine the Proposed Borrowing Base in accordance with Section 2.07(c)(i) and in any
event, within fifteen (15) days after the Administrative Agent has received the required Engineering Reports; and 

  

	 	(B)	 in the case of an Interim Redetermination, promptly, and in any event, within fifteen (15) days after the
Administrative Agent has received the required Engineering Reports. 

 (iii) Any Proposed Borrowing Base
that would increase the Borrowing Base then in effect must be approved by all of the Lenders (other than Defaulting Lenders) as provided in this Section 2.07(c)(iii); and any Proposed Borrowing Base that would decrease or maintain the Borrowing
Base then in effect must be approved or be deemed to have been approved by the Required Lenders as provided in this Section 2.07(c)(iii). Upon receipt of the Proposed Borrowing Base Notice, each Lender shall have fifteen (15) days to agree
with the Proposed Borrowing Base or disagree with the Proposed Borrowing Base by proposing an alternate Borrowing Base. If at the end of such fifteen (15) days, any Lender has not communicated its approval or disapproval in writing to the
Administrative Agent, such silence shall be deemed to be an approval of the Proposed Borrowing Base only if the Proposed Borrowing Base would decrease or maintain the Borrowing Base then in effect. If, at the end of such 15-day period, all of the Lenders (other than Defaulting Lenders), in the case of a Proposed Borrowing Base that would increase the Borrowing Base then in effect, or the Required Lenders, in the case of a Proposed
Borrowing Base that would decrease or maintain the Borrowing Base then in effect, have approved or deemed to have approved, as aforesaid, then the Proposed Borrowing Base shall become the new Borrowing Base, effective on the date specified in
Section 2.07(d). If, however, at the end of such 15-day period, all of the Lenders (other than Defaulting Lenders) or the Required Lenders, as applicable, have not approved or deemed to have approved, as
aforesaid, then the Administrative Agent shall (i) notify the Borrower of the Proposed Borrowing Base and which Lenders have not approved or been deemed to have approved the Proposed Borrowing Base and (ii) poll the Lenders to ascertain
the highest Borrowing Base then acceptable to a number of Lenders sufficient to constitute the Required Lenders and, so long as such amount does not increase the Borrowing Base then in effect, such amount shall become the new Borrowing Base,
effective on the date specified in Section 2.07(d). 

  
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 (d) Effectiveness of a Redetermined Borrowing Base. After a redetermined Borrowing
Base is approved or is deemed to have been approved by all of the Lenders (other than Defaulting Lenders) or the Required Lenders, as applicable, pursuant to Section 2.07(c)(iii), the Administrative Agent shall notify the Borrower and the
Lenders of the amount of the redetermined Borrowing Base (the “New Borrowing Base Notice”), and such amount shall become the new Borrowing Base, effective and applicable to the Borrower, the Administrative Agent, the Issuing Bank
and the Lenders: 
 (i) in the case of a Scheduled Redetermination, (A) if the Administrative Agent shall have received
the Engineering Reports required to be delivered by the Borrower pursuant to Section 8.12(a) in a timely and complete manner, then on the April 15th or October 15th, as applicable, following such notice, or (B) if the Administrative Agent shall not have received the Engineering Reports required to be delivered by the Borrower pursuant to
Section 8.12(a) in a timely and complete manner, then on the Business Day next succeeding delivery of such notice; and 

(ii) in the case of an Interim Redetermination, on the Business Day next succeeding delivery of such notice. 

Such amount shall then become the Borrowing Base until the next Scheduled Redetermination Date, the next Interim Redetermination Date or the next adjustment
to the Borrowing Base under Section 2.07(e), Section 2.07(f), Section 2.07(g), Section 2.07(h), or Section 8.13(c), whichever occurs first. Notwithstanding the foregoing, no Scheduled Redetermination or Interim
Redetermination shall become effective until the New Borrowing Base Notice related thereto is received by the Borrower. 
 (e) Reduction
of Borrowing Base Upon Disposition of Borrowing Base Properties and/or Termination of Hedge Positions. If the Borrower or any Subsidiary (i) Disposes of any Borrowing Base Property or Equity Interests in any Subsidiaries owning Borrowing
Base Properties or (ii) shall terminate or create any off-setting positions in respect of any hedge positions (whether evidenced by a floor, put or Swap Agreement) upon which the Lenders relied in
determining the Borrowing Base (other than any Swap Agreement that is replaced simultaneously with a new Swap Agreement having equivalent Swap Agreement PV (as reasonably determined by the Administrative Agent)), and the fair market value of such
Borrowing Base Property or the fair market value of the Equity Interests in Subsidiaries owning Borrowing Base Properties, or the Swap Agreement PV of such Liquidated Swap Agreement, in each case, when aggregated with the sum of (x) the fair
market value (calculated at the time of such Disposition) of all Borrowing Base Properties and the fair market value of the Equity Interests in Subsidiaries owning Borrowing Base Properties Disposed of since the most recent Scheduled Redetermination
Date and (y) the aggregate Swap Agreement PV of all commodity hedge positions terminated and/or offset together with the aggregate fair market value (calculated at the time of disposition) of all Oil and Gas Properties disposed of, in each
case, since the last Scheduled Redetermination Date (other than any Swap Agreement that is replaced simultaneously with a new Swap Agreement having equivalent Swap Agreement PV (as reasonably determined by the Administrative Agent)), exceeds 5% of
the then-effective Borrowing Base, then, the Borrowing Base shall be contemporaneously reduced in an amount equal to the value assigned such Borrowing Base Property in the most recently delivered Reserve Report (as reasonably determined by the
Administrative Agent and approved by the Required Lenders) or equal to the Swap Agreement PV of such terminated or cancelled hedge positions, as the case may be. 

  
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 (f) Redetermination of Borrowing Base With Respect to Certain Escrow Funds. Upon the
release of cash escrow funds securing bonds and other arrangements in place for plugging and abandonment liabilities of the Borrower and its Subsidiaries without a corresponding reduction in the plugging and abandonment liabilities of the Borrower
and its Subsidiaries in excess of $20,000,000 in the aggregate (and net of any additional collateral deposit requirements imposed upon Borrower for substitute or replacement bonds), between Scheduled Redeterminations, all of the Lenders or the
Required Lenders, as applicable, in their sole discretion, shall have the right to redetermine the Borrowing Base without such redetermination constituting an Interim Redetermination. 

(g) Redetermination of Borrowing Base in Connection With a Permitted Acquisition. With respect to any Permitted Acquisition, at the
request of the Required Lenders in their sole discretion, the Lenders shall have the right to redetermine the Borrowing Base as provided in this Section 2.07 without such redetermination constituting an Interim Redetermination. 

(h) Redetermination of Borrowing Base in Connection with Additional Second Lien Loans or Junior Debt. The Borrowing Base shall
automatically be reduced by $0.25 per $1.00 of the aggregate amount of Second Lien Loans, other junior Debt or senior unsecured loans, in each case, issued in excess of $225,000,000 in the aggregate for all such Debt. 

Section 2.08. Letters of Credit. 

(a) General. Subject to the terms and conditions set forth herein, the Borrower may request the issuance of dollar denominated Letters
of Credit for its own account or for the account of any of its Subsidiaries, in a form reasonably acceptable to the Issuing Bank, at any time and from time to time during the Availability Period; provided that the Borrower may not request the
issuance, amendment, renewal or extension of Letters of Credit hereunder if a Borrowing Base Deficiency exists at such time or would exist as a result thereof. In the event of any inconsistency between the terms and conditions of this Agreement and
the terms and conditions of any form of letter of credit application or other agreement submitted by the Borrower to, or entered into by the Borrower with, the Issuing Bank relating to any Letter of Credit, the terms and conditions of this Agreement
shall control. 
 (b) Notice of Issuance, Amendment, Renewal, Extension; Certain Conditions. To request the issuance of a Letter of
Credit (or the amendment, renewal or extension of an outstanding Letter of Credit), the Borrower shall hand deliver or telecopy (or transmit by electronic communication, if arrangements for doing so have been approved by the Issuing Bank) to the
Issuing Bank and the Administrative Agent (not less than three (3) Business Days in advance of the requested date of issuance, amendment, renewal or extension) a notice: 

(i) requesting the issuance of a Letter of Credit or identifying the Letter of Credit to be amended, renewed or extended; 

(ii) specifying the date of issuance, amendment, renewal or extension (which shall be a Business Day); 

  
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 (iii) specifying the date on which such Letter of Credit is to expire (which
shall comply with Section 2.08(c)); 
 (iv) specifying the amount of such Letter of Credit; 

(v) specifying the name and address of the beneficiary thereof and such other information as shall be necessary to prepare,
amend, renew or extend such Letter of Credit; and 
 (vi) specifying the amount of the then effective Borrowing Base, the
then effective Aggregate Elected Commitments and whether a Borrowing Base Deficiency exists at such time, the current total Revolving Credit Exposures (without regard to the requested Letter of Credit or the requested amendment, renewal or extension
of an outstanding Letter of Credit) and the pro forma total Revolving Credit Exposures (giving effect to the requested Letter of Credit or the requested amendment, renewal or extension of an outstanding Letter of Credit). 

Each notice shall constitute a representation that after giving effect to the requested issuance, amendment, renewal or extension, as applicable, (i) the
LC Exposure shall not exceed the LC Commitment and (ii) the total Revolving Credit Exposures shall not exceed the total Commitments (i.e. the lesser of the Aggregate Maximum Credit Amounts, the then effective Borrowing Base, and the then
effective Aggregate Elected Commitments). 
 If requested by the Issuing Bank, the Borrower also shall submit a letter of credit application on the Issuing
Bank’s standard form in connection with any request for a Letter of Credit. 
 (c) Expiration Date. Each Letter of Credit shall
expire at or prior to the close of business on the earlier of (i) the date eighteen months after the date of issuance of such Letter of Credit (or, in the case of any renewal or extension thereof, eighteen months after such renewal or
extension) and (ii) the date that is five Business Days prior to the Maturity Date; provided, however, that any Letter of Credit may provide for the renewal thereof for additional eighteen-month periods (which shall in no event extend beyond
the date referred to in clause (ii) above). 
 (d) Participations. By the issuance of a Letter of Credit (or an amendment to a
Letter of Credit increasing the amount thereof) and without any further action on the part of the Issuing Bank or the Lenders, the Issuing Bank hereby grants to each Lender, and each Lender hereby acquires from the Issuing Bank, a participation in
such Letter of Credit equal to such Lender’s Applicable Percentage of the aggregate amount available to be drawn under such Letter of Credit. In consideration and in furtherance of the foregoing, each Lender hereby absolutely and
unconditionally agrees to pay to the Administrative Agent, for the account of the Issuing Bank, such Lender’s Applicable Percentage of each LC Disbursement made by the Issuing Bank and not reimbursed by the Borrower on the date due as provided
in Section 2.08(e), or of any reimbursement payment required to be refunded to the Borrower for any reason. Each Lender acknowledges and agrees that its obligation to acquire participations pursuant to this Section 2.08(d) in respect of Letters
of Credit is absolute and unconditional and shall not be affected by any circumstance whatsoever, including any amendment, renewal or extension of any Letter of Credit or the occurrence and continuance of a Default, the existence of a Borrowing Base
Deficiency or reduction or termination of the Commitments, and that each such payment shall be made without any offset, abatement, withholding or reduction whatsoever. 

  
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 (e) Reimbursement. If the Issuing Bank shall make any LC Disbursement in respect of a
Letter of Credit, the Borrower shall reimburse such LC Disbursement by paying to the Administrative Agent an amount equal to such LC Disbursement not later than 12:00 noon, Houston time, on the date that such LC Disbursement is made, if the Borrower
shall have received notice of such LC Disbursement prior to 10:00 a.m., Houston time, on such date, or, if such notice has not been received by the Borrower prior to such time on such date, then not later than 12:00 noon, Houston time, on
(i) the Business Day that the Borrower receives such notice, if such notice is received prior to 10:00 a.m., Houston time, on the day of receipt, or (ii) the Business Day immediately following the day that the Borrower receives such
notice, if such notice is not received prior to such time on the day of receipt; provided that if such LC Disbursement is not less than $500,000, the Borrower shall, subject to the conditions to Borrowing set forth herein, be deemed to have
requested, and the Borrower does hereby request under such circumstances, that such payment be financed with an ABR Borrowing in an equivalent amount and, to the extent so financed, the Borrower’s obligation to make such payment shall be
discharged and replaced by the resulting ABR Borrowing. If the Borrower fails to make such payment when due, the Administrative Agent shall notify each Lender of the applicable LC Disbursement, the payment then due from the Borrower in respect
thereof and such Lender’s Applicable Percentage thereof. Promptly following receipt of such notice, each Lender shall pay to the Administrative Agent its Applicable Percentage of the payment then due from the Borrower, in the same manner as
provided in Section 2.05 with respect to Loans made by such Lender (and Section 2.05 shall apply, mutatis mutandis, to the payment obligations of the Lenders), and the Administrative Agent shall promptly pay to the Issuing Bank the
amounts so received by it from the Lenders. Promptly following receipt by the Administrative Agent of any payment from the Borrower pursuant to this Section 2.08(e), the Administrative Agent shall distribute such payment to the Issuing Bank or,
to the extent that Lenders have made payments pursuant to this Section 2.08(e) to reimburse the Issuing Bank, then to such Lenders and the Issuing Bank as their interests may appear. Any payment made by a Lender pursuant to this
Section 2.08(e) to reimburse the Issuing Bank for any LC Disbursement (other than the funding of ABR Loans as contemplated above) shall not constitute a Loan and shall not relieve the Borrower of its obligation to reimburse such LC
Disbursement. 
 (f) Obligations Absolute. The Borrower’s obligation to reimburse LC Disbursements as provided in
Section 2.08(e) shall be absolute, unconditional and irrevocable, and shall be performed strictly in accordance with the terms of this Agreement under any and all circumstances whatsoever and irrespective of (i) any lack of validity or
enforceability of any Letter of Credit, any Letter of Credit Agreement or this Agreement, or any term or provision therein, (ii) any draft or other document presented under a Letter of Credit proving to be forged, fraudulent or invalid in any
respect or any statement therein being untrue or inaccurate in any respect, (iii) payment by the Issuing Bank under a Letter of Credit against presentation of a draft or other document that does not comply with the terms of such Letter of
Credit or any Letter of Credit Agreement, or (iv) any other event or circumstance whatsoever, whether or not similar to any of the foregoing, that might, but for the provisions of this Section 2.08(f), constitute a legal or equitable
discharge of, or provide a right of setoff against, the Borrower’s obligations hereunder. Neither the Administrative Agent, the Lenders nor the Issuing Bank, nor any of their 

  
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Related Parties shall have any liability or responsibility by reason of or in connection with the issuance or transfer of any Letter of Credit or any payment or failure to make any payment
thereunder (irrespective of any of the circumstances referred to in the preceding sentence), or any error, omission, interruption, loss or delay in transmission or delivery of any draft, notice or other communication under or relating to any Letter
of Credit (including any document required to make a drawing thereunder), any error in interpretation of technical terms or any consequence arising from causes beyond the control of the Issuing Bank; provided that the foregoing shall not be
construed to excuse the Issuing Bank from liability to the Borrower to the extent of any direct damages (as opposed to consequential damages, claims in respect of which are hereby waived by the Borrower to the extent permitted by applicable law)
suffered by the Borrower that are caused by the Issuing Bank’s failure to exercise care when determining whether drafts and other documents presented under a Letter of Credit comply with the terms thereof. The parties hereto expressly agree
that, in the absence of gross negligence or willful misconduct on the part of the Issuing Bank (as finally determined by a court of competent jurisdiction), the Issuing Bank shall be deemed to have exercised all requisite care in each such
determination. In furtherance of the foregoing and without limiting the generality thereof, the parties agree that, with respect to documents presented which appear on their face to be in substantial compliance with the terms of a Letter of Credit,
the Issuing Bank may, in its sole discretion, either accept and make payment upon such documents without responsibility for further investigation, regardless of any notice or information to the contrary, or refuse to accept and make payment upon
such documents if such documents are not in strict compliance with the terms of such Letter of Credit. 
 (g) Disbursement
Procedures. The Issuing Bank shall, promptly following its receipt thereof, examine all documents purporting to represent a demand for payment under a Letter of Credit. The Issuing Bank shall promptly notify the Administrative Agent and the
Borrower by telephone (confirmed by telecopy) of such demand for payment and whether the Issuing Bank has made or will make an LC Disbursement thereunder; provided that any failure to give or delay in giving such notice shall not relieve the
Borrower of its obligation to reimburse the Issuing Bank and the Lenders with respect to any such LC Disbursement. 
 (h) Interim
Interest. If the Issuing Bank shall make any LC Disbursement, then, until the Borrower shall have reimbursed the Issuing Bank for such LC Disbursement (either with its own funds or a Borrowing under Section 2.08(e)), the unpaid amount
thereof shall bear interest, for each day from and including the date such LC Disbursement is made to but excluding the date that the Borrower reimburses such LC Disbursement, at the rate per annum then applicable to ABR Loans. Interest accrued
pursuant to this Section 2.08(h) shall be for the account of the Issuing Bank, except that interest accrued on and after the date of payment by any Lender pursuant to Section 2.08(e) to reimburse the Issuing Bank shall be for the account
of such Lender to the extent of such payment. 
 (i) Replacement of the Issuing Bank. The Issuing Bank may be replaced at any time by
written agreement among the Borrower, the Administrative Agent, the replaced Issuing Bank and the successor Issuing Bank. The Administrative Agent shall notify the Lenders of any such replacement of the Issuing Bank. At the time any such replacement
becomes effective, the Borrower shall pay all unpaid fees accrued for the account of the replaced Issuing Bank pursuant to Section 3.05(b). From and after the effective date of any such replacement, (i) the successor Issuing Bank shall
have all the rights and obligations of the Issuing Bank under this Agreement 

  
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with respect to Letters of Credit to be issued thereafter and (ii) references herein to the term “Issuing Bank” shall be deemed to refer to such successor or to any previous
Issuing Bank, or to such successor and all previous Issuing Banks, as the context shall require. After the replacement of the Issuing Bank hereunder, the replaced Issuing Bank shall remain a party hereto and shall continue to have all the rights and
obligations of the Issuing Bank under this Agreement with respect to Letters of Credit issued by it prior to such replacement, but shall not be required to issue additional Letters of Credit. 

(j) Cash Collateralization. If any Event of Default shall occur and be continuing at any time there exists any LC Exposure and the
Borrower receives notice from the Administrative Agent or the Majority Lenders demanding the deposit of cash collateral pursuant to this Section 2.08(j), then the Borrower shall deposit, in an account with the Administrative Agent, in the name
of the Administrative Agent and for the benefit of the Lenders, an amount in cash equal to the LC Exposure. If the Borrower is required to pay to the Administrative Agent the excess attributable to an LC Exposure in connection with any prepayment
pursuant to Section 3.04(c), the Borrower shall deposit in such an account an amount equal to the amount of such excess as provided in Section 3.04(c), as of such date plus any accrued and unpaid interest thereon. The obligation to deposit
such cash collateral pursuant to the two preceding sentences shall become effective immediately, and such deposit shall become immediately due and payable, without demand or other notice of any kind, upon the occurrence of any Event of Default with
respect to the Borrower or any Subsidiary described in Section 10.01(h) or Section 10.01(i). The Borrower hereby grants to the Administrative Agent, for the benefit of the Issuing Bank and the Lenders, an exclusive first priority and
continuing perfected security interest in and Lien on such account and all cash, checks, drafts, certificates and instruments, if any, from time to time deposited or held in such account, all deposits or wire transfers made thereto, any and all
investments purchased with funds deposited in such account, all interest, dividends, cash, instruments, financial assets and other Property from time to time received, receivable or otherwise payable in respect of, or in exchange for, any or all of
the foregoing, and all proceeds, products, accessions, rents, profits, income and benefits therefrom, and any substitutions and replacements therefor. The Borrower’s obligation to deposit amounts pursuant to this Section 2.08(j) shall be
absolute and unconditional, without regard to whether any beneficiary of any such Letter of Credit has attempted to draw down all or a portion of such amount under the terms of a Letter of Credit, and, to the fullest extent permitted by applicable
law, shall not be subject to any defense or be affected by a right of set-off, counterclaim or recoupment which the Borrower or any of its Subsidiaries may now or hereafter have against any such beneficiary,
the Issuing Bank, the Administrative Agent, the Lenders or any other Person for any reason whatsoever. Such account shall be held as collateral securing the payment and performance of the Borrower’s and the Guarantor’s obligations under
this Agreement and the other Loan Documents. The Administrative Agent shall have exclusive dominion and control, including the exclusive right of withdrawal, over such account. Other than any interest earned on the investment of such deposits, which
investments shall be made at the option and sole discretion of the Administrative Agent and at the Borrower’s risk and expense, such deposits shall not bear interest. Interest or profits, if any, on such investments shall accumulate in such
account. Moneys in such account shall be applied by the Administrative Agent to reimburse the Issuing Bank for LC Disbursements for which it has not been reimbursed and, to the extent not so applied, shall be held for the satisfaction of the
reimbursement obligations of the Borrower for the LC Exposure at such time or, if the maturity of the Loans has been accelerated, be applied to satisfy other 

  
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obligations of the Borrower and the Guarantors under this Agreement or the other Loan Documents. If the Borrower is required to provide an amount of cash collateral hereunder as a result of the
occurrence of an Event of Default, and the Borrower is not otherwise required to pay to the Administrative Agent the excess attributable to an LC Exposure in connection with any prepayment pursuant to Section 3.04(c), then such amount (to the
extent not applied as aforesaid) shall be returned to the Borrower within three Business Days after all Events of Default have been cured or waived. 

ARTICLE III  
 PAYMENTS
OF PRINCIPAL AND INTEREST; PREPAYMENTS; FEES 
 Section 3.01. Repayment of Loans. The Borrower hereby unconditionally
promises to pay to the Administrative Agent for the account of each Lender the then unpaid principal amount of each Loan on the Termination Date. 

Section 3.02. Interest. 

(a) ABR Loans. The Loans comprising each ABR Borrowing shall bear interest at the Alternate Base Rate plus the Applicable Margin, but
in no event to exceed the Highest Lawful Rate. 
 (b) Eurodollar Loans. The Loans comprising each Eurodollar Borrowing shall bear
interest at the Adjusted LIBO Rate for the Interest Period in effect for such Borrowing plus the Applicable Margin, but in no event to exceed the Highest Lawful Rate. 

(c) Post-Default Rate and Borrowing Base Deficiency Rate. Notwithstanding the foregoing, (i) if an Event of Default (other than an
Event of Default pursuant to Section 10.01(h) or (i)) has occurred and is continuing, and the Required Lenders so elect or if any Event of Default pursuant to Section 10.01 (h) or (i) is continuing, then any overdue amount shall bear
interest, after as well as before judgment, at a rate per annum equal to two percent (2%) plus the applicable rate, but in no event to exceed the Highest Lawful Rate and (ii) if a Borrowing Base Deficiency exists and the Borrower elects (or is
deemed to elect) to eliminate all or a portion of such Borrowing Base Deficiency pursuant to Section 3.04(c)(ii)(B), then any Borrowing Base Deficiency shall bear interest, after as well as before judgment, at a rate per annum equal to one
percent (1%) plus the applicable rate, but in no event to exceed the Highest Lawful Rate. 
 (d) Interest Payment Dates. Accrued
interest on each Loan shall be payable in arrears on each Interest Payment Date for such Loan and on the Termination Date; provided that (i) interest accrued pursuant to Section 3.02(c) shall be payable on demand, (ii) in the event of
any repayment or prepayment of any Loan (other than an optional prepayment of an ABR Loan prior to the Termination Date), accrued interest on the principal amount repaid or prepaid shall be payable on the date of such repayment or prepayment, and
(iii) in the event of any conversion of any Eurodollar Loan prior to the end of the current Interest Period therefor, accrued interest on such Loan shall be payable on the effective date of such conversion. 

  
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 (e) Interest Rate Computations. All interest hereunder shall be computed on the basis
of a year of 360 days, unless such computation would exceed the Highest Lawful Rate, in which case interest shall be computed on the basis of a year of 365 days (or 366 days in a leap year), except that interest computed by reference to the
Alternate Base Rate shall be computed on the basis of a year of 365 days (or 366 days in a leap year), and in each case shall be payable for the actual number of days elapsed (including the first day but excluding the last day). The applicable
Alternate Base Rate, Adjusted LIBO Rate or LIBO Rate shall be determined by the Administrative Agent, and such determination shall be conclusive absent manifest error, and be binding upon the parties hereto. 

Section 3.03. Alternate Rate of Interest. If prior to the commencement of any Interest Period for a Eurodollar Borrowing: 

(a) the Administrative Agent determines (which determination shall be conclusive absent manifest error) that adequate and reasonable means do
not exist for ascertaining the Adjusted LIBO Rate or the LIBO Rate for such Interest Period; or 
 (b) the Administrative Agent is advised
by the Majority Lenders that the Adjusted LIBO Rate or LIBO Rate, as applicable, for such Interest Period will not adequately and fairly reflect the cost to such Lenders of making or maintaining their Loans included in such Borrowing for such
Interest Period; 
 then the Administrative Agent shall give notice thereof to the Borrower and the Lenders by telephone or telecopy as promptly as
practicable thereafter and, until the Administrative Agent notifies the Borrower and the Lenders that the circumstances giving rise to such notice no longer exist, (i) any Interest Election Request that requests the conversion of any Borrowing
to, or continuation of any Borrowing as, a Eurodollar Borrowing shall be ineffective, and (ii) if any Borrowing Request requests a Eurodollar Borrowing, such Borrowing shall be made either as an ABR Borrowing or at an alternate rate of interest
determined by the Majority Lenders as their cost of funds. 
 Section 3.04. Prepayments. 

(a) Optional Prepayments. The Borrower shall have the right at any time and from time to time to prepay any Borrowing in whole or in
part, subject to prior notice in accordance with Section 3.04(b). 
 (b) Notice and Terms of Optional Prepayment. The Borrower
shall notify the Administrative Agent by telephone (confirmed by telecopy) of any prepayment hereunder (i) in the case of prepayment of a Eurodollar Borrowing, not later than 12:00 noon, Houston time, three Business Days before the date of
prepayment, or (ii) in the case of prepayment of an ABR Borrowing, not later than 12:00 noon, Houston time, on the date of prepayment. Each such notice shall be irrevocable and shall specify the Borrowing to be prepaid, the prepayment date and
the principal amount of each Borrowing or portion thereof to be prepaid; provided that, if a notice of prepayment is given in connection with a conditional notice of termination of the Commitments as contemplated by Section 2.06(b)(ii), then
such notice of prepayment may be revoked if such notice of termination is revoked in accordance with Section 2.06(b)(ii). Promptly following receipt of any such notice relating to a Borrowing, the Administrative Agent shall advise the Lenders
of the contents thereof. Each partial prepayment of any Borrowing shall be in an amount that would be permitted in the case of an advance of a Borrowing of the same Type as provided in Section 2.02. Each prepayment of a Borrowing shall be
applied ratably to the Loans included in the prepaid Borrowing. Prepayments shall be accompanied by accrued interest to the extent required by Section 3.02. 

  
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 (c) Mandatory Prepayments. 

(i) If, after giving effect to any termination or reduction of (A) the Aggregate Maximum Credit Amounts pursuant to Section 2.06(b)
or (B) the Aggregate Elected Commitments pursuant to Section 2.06(c), the total Revolving Credit Exposures exceeds the total Commitments, then the Borrower shall (1) prepay the Borrowings on the date of such termination or reduction
in an aggregate principal amount equal to such excess, and (2) if any excess remains after prepaying all of the Borrowings as a result of an LC Exposure, pay to the Administrative Agent on behalf of the Lenders an amount equal to such excess to
be held as cash collateral as provided in Section 2.08(j). 
 (ii) Upon any redetermination of the Borrowing Base pursuant to
Section 2.07(b) or adjustment to the amount of the Borrowing Base in accordance with Section 8.13(c), if the aggregate Revolving Credit Exposures of all Lenders exceeds the redetermined or adjusted Borrowing Base, then the Borrower shall,
within 5 Business Days after its receipt of a New Borrowing Base Notice inform the Administrative Agent of the Borrower’s election to: (A) within 30 days following its receipt of such New Borrowing Base Notice (1) prepay the Loans in
an aggregate principal amount equal to such excess and (2) if any excess remains after prepaying all of the Loans as a result of any Letter of Credit Exposure, cash collateralize such excess as provided in Section 2.08(j) (provided that
all payments required to be made pursuant to this Section 3.04(c) must be made on or prior to the Termination Date), (B) prepay the Loans in three equal consecutive monthly installments, commencing on the 30th day following its receipt of such
New Borrowing Base Notice with each payment being equal to 1/3rd of the aggregate principal amount of such excess, and each subsequent installment being due and payable on the same day in each of
the two subsequent calendar months (provided that all payments required to be made pursuant to this Section 3.04(c) must be made on or prior to the Termination Date), (C) within 30 days following its receipt of such New Borrowing Base Notice,
provide additional collateral in the form of additional Oil and Gas Properties not evaluated in the most recently delivered Reserve Report or other collateral acceptable to the Administrative Agent having a Borrowing Base value (as proposed by the
Administrative Agent and approved by the Required Lenders) sufficient, after giving effect to any other actions taken pursuant to this Section 3.04(c) to eliminate any such excess or (D) undertake a combination of clauses (A), (B) and (C).
If, because of Letter of Credit Exposure, a Borrowing Base Deficiency remains after prepaying all of the Loans, the Borrower shall cash collateralize such remaining Borrowing Base Deficiency as provided in Section 2.08(j). 

(iii) Upon any adjustments to the Borrowing Base pursuant to Section 2.07(e), Section 2.07(f), Section 2.07(g), or
Section 2.07(h), if the total Revolving Credit Exposures exceeds the Borrowing Base as adjusted, then the Borrower shall (A) prepay the Borrowings in an aggregate principal amount equal to such excess, and (B) if any excess remains
after prepaying all of the Borrowings as a result of an LC Exposure, pay to the Administrative Agent on behalf of the Lenders an amount equal to such excess to be held as cash collateral as provided in Section 2.08(j). The Borrower shall be
obligated to make such prepayment and/or 

  
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deposit of cash collateral on the date it or any Subsidiary receives cash proceeds as a result of such Disposition, termination of a Swap Agreement, issuance of additional funded Debt or
disposition; provided that all payments required to be made pursuant to this Section 3.04(c) must be made on or prior to the Termination Date. 

(iv) If, for any period of two consecutive Business Days, (A) there are any outstanding Borrowings or LC Exposure and (B) the
Consolidated Cash Balance exceeds the Consolidated Cash Balance Prepayment Threshold (the amount of such excess, “Excess Cash”) as of the end of each such Business Day, then the Borrower shall, on the next Business Day after such two
consecutive Business Day period, (1) prepay the Borrowings in an aggregate principal amount equal to the Excess Cash, and (2) if after prepaying all of the Borrowings there is any LC Exposure and Excess Cash, pay to the Administrative
Agent on behalf of the Lenders an amount equal to the remaining amount of Excess Cash to be held as cash collateral as provided in Section 2.08(j); provided that all payments required to be made pursuant to this Section 3.04(c)(iv) must be made
on or prior to the Termination Date. To the extent that there are funds on deposit in, or credited to, any deposit account or other account maintained with the Administrative Agent (or any Affiliate thereof) or any Lender (or any Affiliate thereof)
on any date that the Borrower is required to prepay Loans (and/or cash collateralize LC Exposure, as applicable) pursuant to this Section 3.04(c)(iv), the Borrower hereby irrevocably authorizes and instructs the Administrative Agent or such
Lender to apply such funds to the prepayment of Loans (and/or cash collateralization of LC Exposure, as applicable). 
 (v) Without
limitation of any other restrictions on each of the Parent, the Borrower or any Subsidiary contained herein (including the prohibition on making any such Redemption), if the Parent, the Borrower or any Subsidiary is required to make a mandatory
Redemption of, or is required to make an offer to Redeem or prepay, any Second Lien Loans pursuant to the terms of the Second Lien Term Loan Documents or any Permitted Refinancing Debt in respect thereof pursuant to the terms of the Permitted
Refinancing Documents, in each case as a result of any event or circumstance (including a Change in Control or the Disposition of any Property), then, whether or not a Borrowing Base Deficiency exists at such time, the Borrower shall prepay the
Borrowings (and if any excess remains after prepaying Borrowings as a result of an LC Exposure, cash collateralize such excess as provided in Section 2.08(j)), together with accrued and unpaid interest thereon, in an amount equal to the lesser of
(A) 100% of the outstanding principal amount of Second Lien Loans required to be Redeemed (with respect to any such Redemption in connection with a Disposition, after giving effect to any reinvestment rights set forth in the Second Lien Term Loan
Documents or the Permitted Refinancing Documents, as applicable) and (B) the outstanding principal amount of the Loans on the date of such payment, and such payment (and/or cash collateralization, as applicable) shall be due one Business Day
prior to the date on which the Parent, the Borrower, or such Subsidiary would be required to make such Redemption pursuant to the terms of the Second Lien Term Loan Documents or the Permitted Refinancing Documents, as applicable. 

(vi) Each prepayment of Borrowings pursuant to this Section 3.04(c) shall be applied, first, ratably to any ABR Borrowings then
outstanding, and, second, to any Eurodollar Borrowings then outstanding, and if more than one Eurodollar Borrowing is then outstanding, to each such Eurodollar Borrowing in order of priority beginning with the Eurodollar Borrowing with the least
number of days remaining in the Interest Period applicable thereto and ending with the Eurodollar Borrowing with the most number of days remaining in the Interest Period applicable thereto. 

  
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 (vii) Each prepayment of Borrowings pursuant to this Section 3.04(c) shall be applied
ratably to the Loans included in the prepaid Borrowings. Prepayments pursuant to this Section 3.04(c) shall be accompanied by accrued interest to the extent required by Section 3.02. 

(d) No Premium or Penalty. Prepayments permitted or required under this Section 3.04 shall be without premium or penalty, except as
required under Section 5.02. 
 Section 3.05. Fees. 

(a) Commitment Fees. The Borrower agrees to pay to the Administrative Agent for the account of each Lender (other than a Defaulting
Lender to the extent set forth in Section 4.05) a commitment fee, which shall accrue at a rate per annum of 0.50% on the average daily amount of the unused amount of the Commitment of such Lender during the period from and including the
Effective Date to but excluding the Termination Date. Accrued commitment fees shall be payable in arrears on the last day of March, June, September and December of each year and on the Termination Date, commencing on the first such date to occur
after the Effective Date. All commitment fees shall be computed on the basis of a year of 365 days (or 366 days in a leap year), and shall be payable for the actual number of days elapsed (including the first day but excluding the last day). 

(b) Letter of Credit Fees. The Borrower agrees to pay (i) to the Administrative Agent for the account of each Lender (other than a
Defaulting Lender to the extent set forth in Section 4.05) a participation fee with respect to its participations in Letters of Credit, which shall accrue at the same Applicable Margin used to determine the interest rate applicable to
Eurodollar Loans on the average daily amount of such Lender’s LC Exposure (excluding any portion thereof attributable to unreimbursed LC Disbursements which has been funded by such Lender) during the period from and including the Effective Date
to but excluding the later of the date on which such Lender’s Commitment terminates and the date on which such Lender ceases to have any LC Exposure, (ii) to the Issuing Bank a fronting fee, which shall accrue at the greater of (x) $500
and (y) the rate of 0.25% per annum on the average daily amount of the LC Exposure (excluding any portion thereof attributable to unreimbursed LC Disbursements) during the period from and including the Effective Date to but excluding the later
of the date of termination of the Commitments and the date on which there ceases to be any LC Exposure, and (iii) to the Issuing Bank, for its own account, its standard fees with respect to the issuance, amendment, renewal or extension of any
Letter of Credit or processing of drawings thereunder. Participation fees and fronting fees accrued through and including the last day of March, June, September and December of each year shall be payable on the third Business Day following such last
day, commencing on the first such date to occur after the Effective Date; provided that all such fees shall be payable on the Termination Date and any such fees accruing after the Termination Date shall be payable on demand. Any other fees payable
to the Issuing Bank pursuant to this Section 3.05(a) shall be payable within 10 days after demand. All participation fees and fronting fees shall be computed on the basis of a year of 365 days (or 366 days in a leap year), and shall be payable for
the actual number of days elapsed (including the first day but excluding the last day). 

  
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 (c) Administrative Agent Fees. The Borrower agrees to pay to the
Administrative Agent, for its own account, fees payable in the amounts and at the times separately agreed upon between the Borrower and the Administrative Agent. 

(d) Borrowing Base Increase Fees. The Borrower agrees to pay to the Administrative Agent, for the account of each
Lender then party to this Agreement, ratably in accordance with its Applicable Percentage, a Borrowing Base increase fee to be agreed by the Lenders and the Borrower on the occasion of any increase of the Borrowing Base, payable on the effective
date of any such increase to the Borrowing Base. 
 ARTICLE IV  

PAYMENTS; PRO RATA TREATMENT; SHARING OF SET-OFFS 

Section 4.01. Payments Generally; Pro Rata Treatment; Sharing of Set-offs. 

(a) Payments by the Borrower. The Borrower shall make each payment required to be made by it hereunder (whether of principal, interest,
fees or reimbursement of LC Disbursements, or of amounts payable under Section 5.01, Section 5.02, Section 5.03 or otherwise) prior to 12:00 noon, Houston time, on the date when due, in immediately available funds and, subject to
Section 5.03, without defense, deduction, recoupment, set-off or counterclaim. Fees, once paid, shall be fully earned and shall not be refundable under any circumstances. Any amounts received after such
time on any date may, in the discretion of the Administrative Agent, be deemed to have been received on the next succeeding Business Day for purposes of calculating interest thereon. All such payments shall be made to the Administrative Agent at its
offices specified in Section 12.01, except payments to be made directly to the Issuing Bank as expressly provided herein and except that payments pursuant to Section 5.01, Section 5.02, Section 5.03 and Section 12.03 shall be
made directly to the Persons entitled thereto. The Administrative Agent shall distribute any such payments received by it for the account of any other Person to the appropriate recipient promptly following receipt thereof. If any payment hereunder
shall be due on a day that is not a Business Day, the date for payment shall be extended to the next succeeding Business Day, and, in the case of any payment accruing interest, interest thereon shall be payable for the period of such extension. All
payments hereunder shall be made in dollars. 
 (b) Application of Insufficient Payments. If at any time insufficient funds are
received by and available to the Administrative Agent to pay fully all amounts of principal, unreimbursed LC Disbursements, interest and fees then due hereunder, such funds shall be applied (i) first, towards payment of interest and fees then
due hereunder, ratably among the parties entitled thereto in accordance with the amounts of interest and fees then due to such parties, and (ii) second, towards payment of principal and unreimbursed LC Disbursements then due hereunder, ratably
among the parties entitled thereto in accordance with the amounts of principal and unreimbursed LC Disbursements then due to such parties. 

(c) Sharing of Payments by Lenders. If any Lender shall, by exercising any right of set-off or
counterclaim or otherwise, obtain payment in respect of any principal of or interest on any of its Loans or participations in LC Disbursements resulting in such Lender receiving payment of a greater proportion of the aggregate amount of its Loans
and participations in LC 

  
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Disbursements and accrued interest thereon than the proportion received by any other Lender, then the Lender receiving such greater proportion shall purchase (for cash at face value)
participations in the Loans and participations in LC Disbursements of other Lenders to the extent necessary so that the benefit of all such payments shall be shared by the Lenders ratably in accordance with the aggregate amount of principal of and
accrued interest on their respective Loans and participations in LC Disbursements; provided that (i) if any such participations are purchased and all or any portion of the payment giving rise thereto is recovered, such participations
shall be rescinded and the purchase price restored to the extent of such recovery, without interest, and (ii) the provisions of this Section 4.01(c) shall not be construed to apply to any payment made by the Parent or the Borrower pursuant
to and in accordance with the express terms of this Agreement or any payment obtained by a Lender as consideration for the assignment of or sale of a participation in any of its Loans or participations in LC Disbursements to any assignee or
participant, other than to the Parent or the Borrower or any Subsidiary or Affiliate thereof (as to which the provisions of this Section 4.01(c) shall apply). Each of the Parent and the Borrower consents to the foregoing and agrees, to the
extent it may effectively do so under applicable law, that any Lender acquiring a participation pursuant to the foregoing arrangements may exercise against the Parent or the Borrower rights of set-off and
counterclaim with respect to such participation as fully as if such Lender were a direct creditor of the Parent or the Borrower in the amount of such participation. 

Section 4.02. Presumption of Payment by the Borrower. Unless the Administrative Agent shall have received notice from the Borrower
prior to the date on which any payment is due to the Administrative Agent for the account of the Lenders or the Issuing Bank that the Borrower will not make such payment, the Administrative Agent may assume that the Borrower has made such payment on
such date in accordance herewith and may, in reliance upon such assumption, distribute to the Lenders or the Issuing Bank, as the case may be, the amount due. In such event, if the Borrower has not in fact made such payment, then each of the Lenders
or the Issuing Bank, as the case may be, severally agrees to repay to the Administrative Agent forthwith on demand the amount so distributed to such Lender or Issuing Bank with interest thereon, for each day from and including the date such amount
is distributed to it to but excluding the date of payment to the Administrative Agent, at the greater of the Federal Funds Effective Rate and a rate determined by the Administrative Agent in accordance with banking industry rules on interbank
compensation. 
 Section 4.03. Certain Deductions by the Administrative Agent. If any Lender shall fail to make any payment
required to be made by it pursuant to Section 2.05(a), Section 2.08(d), Section 2.08(e) or Section 4.02 then the Administrative Agent may, in its discretion (notwithstanding any contrary provision hereof), apply any amounts
thereafter received by the Administrative Agent for the account of such Lender to satisfy such Lender’s obligations under such Sections until all such unsatisfied obligations are fully paid. If at any time prior to the acceleration or maturity
of the Loans, the Administrative Agent shall receive any payment in respect of principal of a Loan or a reimbursement of an LC Disbursement while one or more Defaulting Lenders shall be party to this Agreement, the Administrative Agent shall apply
such payment first to the Borrowing(s) for which such Defaulting Lender(s) shall have failed to fund its pro rata share until such time as such Borrowing(s) are paid in full or each Lender (including each Defaulting Lender) is owed its Applicable
Percentage of all Loans then outstanding. After acceleration or maturity of the Loans, all principal will be paid ratably as provided in Section 10.02(c). 

  
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 Section 4.04. Disposition of Proceeds. The Security Instruments contain an
assignment by the Borrower and/or the Guarantors unto and in favor of the Administrative Agent for the benefit of the Lenders of all of the Borrower’s or each Guarantor’s interest in and to production and all proceeds attributable thereto
which may be produced from or allocated to the Mortgaged Property. The Security Instruments further provide in general for the application of such proceeds to the satisfaction of the Secured Obligations and other obligations described therein and
secured thereby. Notwithstanding the assignment contained in such Security Instruments, until the occurrence of an Event of Default, (a) the Administrative Agent and the Lenders agree that they will neither notify the purchaser or purchasers of
such production nor take any other action to cause such proceeds to be remitted to the Administrative Agent or the Lenders, but the Lenders will instead permit such proceeds to be paid to the Borrower and its Subsidiaries, and (b) the Lenders
hereby authorize the Administrative Agent to take such actions as may be necessary to cause such proceeds to be paid to the Borrower and/or such Subsidiaries. 

Section 4.05. Defaulting Lenders. Notwithstanding any provision of this Agreement to the contrary, if any Lender becomes a
Defaulting Lender, then the following provisions shall apply for so long as such Lender is a Defaulting Lender: 
 (a) commitment fees shall
cease to accrue on the unfunded portion of the Commitment of such Defaulting Lender pursuant to Section 3.05(a); 
 (b) the Commitment
of such Defaulting Lender shall not be included in determining whether all Lenders, the Majority Lenders or the Required Lenders have taken or may take any action hereunder (including any consent to any amendment or waiver pursuant to
Section 12.02 or any redetermination of the Borrowing Base), provided that any waiver, amendment or modification that (i) reduces the amount of principal of or the rate at which interest is payable on the Loans, (ii) increases
the Defaulting Lender’s Commitment or (iii) extends the dates fixed for payments of principal or interest on the Loans shall require the approval or consent of such Defaulting Lender; 

(c) if any LC Exposure exists at the time a Lender becomes a Defaulting Lender then: 

(i) all or any part of the LC Exposure of such Defaulting Lender shall be reallocated among the
non-Defaulting Lenders in accordance with their respective Applicable Percentages and this obligation to reallocate shall be absolute and unconditional under any and all circumstances and irrespective of any
setoff, counterclaim or defense to reallocation that any non-Defaulting Lender may have or have had against the Issuing Bank, the Borrower, any Guarantor or any other Lender (including the Defaulting Lender);
provided that such LC Exposure shall be reallocated among the non-Defaulting Lenders only to the extent that (x) the sum of all non-Defaulting Lenders’
Loans and all non-Defaulting Lenders’ LC Exposure plus such Defaulting Lender’s LC Exposure does not exceed the total of all non-Defaulting
Lenders’ Commitments, (y) the sum of each non-Defaulting Lender’s Loans and such non-Defaulting Lender’s LC Exposure plus its reallocated share of
such Defaulting Lender’s LC Exposure does not exceed such non-Defaulting Lender’s Commitment and (z) the conditions set forth in Section 6.02 are satisfied at such time; 

  
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 (ii) if the reallocation described in clause (i) cannot, or can only
partially, be effected, the Borrower shall, within one Business Day following notice by the Administrative Agent, cash collateralize such Defaulting Lender’s LC Exposure (after giving effect to any partial reallocation pursuant to clause (i))
in accordance with procedures set forth in Section 2.08(j) for so long as such LC Exposure are outstanding; 
 (iii) if
the Borrower cash collateralizes any portion of such Defaulting Lender’s LC Exposure pursuant to this Section 4.05(c), the Borrower shall not be required to pay any fees to such Defaulting Lender pursuant to Section 3.05(b) with
respect to such Defaulting Lender’s LC Exposure during the period such Defaulting Lender’s LC Exposure is cash collateralized; 

(iv) if the LC Exposure of the Defaulting Lenders is reallocated pursuant to Section 4.05(c), then the fees payable to the
Lenders pursuant to Section 3.05(b) shall be adjusted in accordance with such non-Defaulting Lenders’ Applicable Percentages; and 

(v) to the extent that any Defaulting Lender’s LC Exposure is neither cash collateralized nor reallocated pursuant to
Section 4.05(c), then, without prejudice to any rights or remedies of the Issuing Bank or any Lender hereunder, the portion of Letter of Credit fees payable under Section 3.05(b) corresponding to such Defaulting Lender’s LC Exposure
that are neither so cash collateralized nor reallocated shall be payable to the Issuing Bank until such LC Exposure is cash collateralized and/or reallocated; 

(d) so long as any Lender is a Defaulting Lender, the Issuing Bank shall not be required to issue, amend or increase any Letter of Credit,
unless it is satisfied that the related exposure will be 100% covered by the Commitments of the non-Defaulting Lenders and/or cash collateral that will be provided by the Borrower in accordance with
Section 4.05(c), and participating interests in any such newly issued or increased Letter of Credit shall be allocated among non-Defaulting Lenders in a manner consistent with Section 4.05(c)(i) (and
Defaulting Lenders shall not participate therein); and 
 (e) any amount payable to such Defaulting Lender hereunder (whether on account of
principal, interest, fees or otherwise and including any amount that would otherwise be payable to such Defaulting Lender) shall, to the extent permitted by applicable law, in lieu of being distributed to such Defaulting Lender, be retained by the
Administrative Agent in a segregated account and, subject to any applicable requirements of law, be applied at such time or times as may be determined by the Administrative Agent (i) first, to the payment of any amounts owing by such
Defaulting Lender to the Administrative Agent hereunder; (ii) second, to the payment of any amounts owing by such Defaulting Lender to the Issuing Bank hereunder, (iii) third, to the funding of any Loan or the funding or cash
collateralization of any participating interest in any Letter of Credit in respect of which such Defaulting Lender has failed to fund its portion thereof as required by this Agreement, (iv) fourth, if so determined by the Administrative
Agent and the Borrower, held in such account as cash collateral for future funding obligations of the Defaulting Lender under this Agreement, (v) fifth, pro rata, to the payment of any amounts owing to the 

  
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Borrower or the Lenders as a result of any judgment of a court of competent jurisdiction obtained by the Borrower or any Lender against such Defaulting Lender as a result of such Defaulting
Lender’s breach of its obligations under this Agreement and (vi) sixth, to such Defaulting Lender or as otherwise directed by a court of competent jurisdiction; provided that if such payment is (x) a prepayment of the
principal amount of any Loans or reimbursement obligations in respect of Letter of Credit Disbursements of which a Defaulting Lender has funded its participation obligations and (y) made at a time when the conditions set forth in
Section 4.02 are satisfied, such payment shall be applied solely to prepay the Loans of, and reimbursement obligations owed to, all non-Defaulting Lenders pro rata prior to being applied to the prepayment
of any Loans, or reimbursements obligations owed to, any Defaulting Lender. 
 ARTICLE V  

INCREASED COSTS; BREAK FUNDING PAYMENTS; TAXES; ILLEGALITY 

Section 5.01. Increased Costs. 

(a) Eurodollar Changes in Law. If any Change in Law shall: 

(i) impose, modify or deem applicable any reserve, special deposit or similar requirement against assets of, deposits with or
for the account of, or credit extended by, any Lender (except any such reserve requirement reflected in the Adjusted LIBO Rate); 

(ii) impose on any Lender or the London interbank market any other condition affecting this Agreement or Eurodollar Loans made
by such Lender; or 
 (iii) subject any recipient of any payment hereunder to any Taxes on its loans, loan principal, letters
of credit, commitments, or other obligations, or its deposits, reserves, other liabilities or capital attributable thereto; 
 and the result of any of the
foregoing shall be to increase the cost to such Lender of making or maintaining any Eurodollar Loan (or of maintaining its obligation to make any such Loan) or to reduce the amount of any sum received or receivable by such Lender (whether of
principal, interest or otherwise, but not including Excluded Taxes, Indemnified Taxes or Other Taxes), then the Borrower will pay to such Lender such additional amount or amounts as will compensate such Lender for such additional costs incurred or
reduction suffered. 
 (b) Capital and Liquidity Requirements. If any Lender or the Issuing Bank determines that any Change in Law
regarding capital or liquidity requirements has or would have the effect of reducing the rate of return on such Lender’s or the Issuing Bank’s capital or liquidity or on the capital or liquidity of such Lender’s or the Issuing
Bank’s holding company, if any, as a consequence of this Agreement or the Loans made by, or participations in Letters of Credit held by, such Lender, or the Letters of Credit issued by the Issuing Bank, to a level below that which such Lender
or the Issuing Bank or such Lender’s or the Issuing Bank’s holding company could have achieved but for such Change in Law (taking into consideration such Lender’s or the Issuing Bank’s policies and the policies of such
Lender’s or the Issuing Bank’s holding company with respect to capital adequacy or liquidity), then from time to time the Borrower will pay to such Lender or the Issuing Bank, as the case may be, such additional amount or amounts as will
compensate such Lender or the Issuing Bank or such Lender’s or the Issuing Bank’s holding company for any such reduction suffered. 

  
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 (c) Certificates. A certificate of a Lender or the Issuing Bank setting forth in
reasonable detail the basis for, and a calculation of, the amount or amounts necessary to compensate such Lender or the Issuing Bank or its holding company, as the case may be, as specified in Section 5.01(a) or (b) shall be delivered to
the Borrower and shall be presumptively correct. Within 10 days after receipt thereof, the Borrower shall either (i) pay such Lender or the Issuing Bank, as the case may be, the amount shown as due on any such certificate, or (ii) notify
such payee in writing that the Borrower disputes the amount shown as due. If, after receiving such written notice, such payee disagrees with the Borrower as to the amount owed, the Borrower and such payee will meet in good faith to discuss the basis
for, and calculation of, the amount, and the Borrower’s basis for disputing such amount. If, after an additional 10 days following such good faith meeting, the Borrower and payee are unable to agree upon the amount owed, both parties will
submit to binding arbitration to resolve the dispute as to the amount owed. 
 (d) Effect of Failure or Delay in Requesting
Compensation. Failure or delay on the part of any Lender or the Issuing Bank to demand compensation pursuant to this Section 5.01 shall not constitute a waiver of such Lender’s or the Issuing Bank’s right to demand such
compensation; provided that the Borrower shall not be required to compensate a Lender or the Issuing Bank pursuant to this Section 5.01 for any increased costs or reductions incurred more than 180 days prior to the date that such Lender
or the Issuing Bank, as the case may be, notifies the Borrower of the Change in Law giving rise to such increased costs or reductions and of such Lender’s or the Issuing Bank’s intention to claim compensation therefor; provided further
that, if the Change in Law giving rise to such increased costs or reductions is retroactive, then the 180-day period referred to above shall be extended to include the period of retroactive effect thereof.

 Section 5.02. Break Funding Payments. In the event of (a) the payment of any principal of any Eurodollar Loan other than
on the last day of an Interest Period applicable thereto (including as a result of an Event of Default), (b) the conversion of any Eurodollar Loan into an ABR Loan other than on the last day of the Interest Period applicable thereto, (c) the
failure to borrow, convert, continue or prepay any Eurodollar Loan on the date specified in any notice delivered pursuant hereto, or (d) the assignment of any Eurodollar Loan other than on the last day of the Interest Period applicable thereto
as a result of a request by the Borrower pursuant to Section 5.04(a), then, in any such event, the Borrower shall compensate each Lender for the loss, cost and expense attributable to such event (exclusive of any lost profits or opportunity
costs). In the case of a Eurodollar Loan, such loss, cost or expense to any Lender shall be deemed to include an amount determined by such Lender to be the excess, if any, of (i) the amount of interest which would have accrued on the principal
amount of such Loan had such event not occurred, at the Adjusted LIBO Rate that would have been applicable to such Loan, for the period from the date of such event to the last day of the then current Interest Period therefor (or, in the case of a
failure to borrow, convert or continue, for the period that would have been the Interest Period for such Loan), over (ii) the amount of interest which would accrue on such principal amount for such period at the interest rate which such Lender
would bid were it to bid, at the commencement of such period, for dollar deposits of a comparable amount and period from other banks in the eurodollar market. A certificate of any Lender setting forth any amount or amounts that such Lender is
entitled to receive pursuant to this Section 5.02 shall be delivered to the Borrower and shall be conclusive absent manifest error. The Borrower shall pay such Lender the amount shown as due on any such certificate within 10 days after receipt
thereof. 

  
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 Section 5.03. Taxes. 

(a) Payments Free of Taxes. Any and all payments by or on account of any obligation of the Borrower or any Guarantor under any Loan
Document shall be made free and clear of and without deduction for any Taxes; provided that if the Borrower or any Guarantor shall be required to deduct any Taxes from such payments, as determined in good faith by the Borrower or the Administrative
Agent, as applicable, then (i) if such Taxes are Indemnified Taxes, the sum payable shall be increased as necessary so that after making all required deductions (including deductions applicable to additional sums payable under this Section
5.03(a)), the Administrative Agent, Lender or Issuing Bank (as the case may be) receives an amount equal to the sum it would have received had no such deductions been made, (ii) the Borrower or such Guarantor shall make such deductions and
(iii) the Borrower or such Guarantor shall pay the full amount deducted to the relevant Governmental Authority in accordance with applicable law. 

(b) Payment of Other Taxes by the Borrower. The Borrower shall pay any Other Taxes to the relevant Governmental Authority in accordance
with applicable law, or at the option of the Administrative Agent timely reimburse it for payment of such Other Taxes. 
 (c)
Indemnification by the Borrower. The Borrower shall indemnify the Administrative Agent, each Lender and the Issuing Bank, within 10 days after written demand therefor, for the full amount of any Indemnified Taxes paid by the Administrative
Agent, such Lender or the Issuing Bank, as the case may be, on or with respect to any payment by or on account of any obligation of the Borrower hereunder (including Indemnified Taxes imposed or asserted on or attributable to amounts payable under
this Section 5.03) and any penalties, interest and reasonable expenses arising therefrom or with respect thereto, whether or not such Indemnified Taxes were correctly or legally imposed or asserted by the relevant Governmental Authority;
provided that the Borrower shall not be required to indemnify the Administrative Agent, any Lender or the Issuing Bank for any amounts under this Section 5.03(c) to the extent that such Person fails to notify the Borrower of its intent to make
a claim for indemnification under this Section 5.03(c) within twelve months after a claim is asserted against such Person by the relevant Governmental Authority. A certificate of the Administrative Agent, a Lender or the Issuing Bank as to the
amount of such payment or liability under this Section 5.03 shall be delivered to the Borrower and shall be conclusive absent manifest error. 

(d) Evidence of Payments. As soon as practicable after any payment of Indemnified Taxes or Other Taxes by the Borrower or a Guarantor
to a Governmental Authority, the Borrower shall deliver to the Administrative Agent the original or a certified copy of a receipt issued by such Governmental Authority evidencing such payment, a copy of the return reporting such payment or other
evidence of such payment reasonably satisfactory to the Administrative Agent. 

  
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 (e) Status of Lenders. 

(i) Any Lender that is entitled to an exemption from or reduction of withholding tax under the law of the jurisdiction in which
the Borrower is located, or any treaty to which such jurisdiction is a party, with respect to payments under this Agreement or any other Loan Document shall deliver to the Borrower (with a copy to the Administrative Agent), at the time or times
prescribed by applicable law, such properly completed and executed documentation prescribed by applicable law or reasonably requested by the Borrower as will permit such payments to be made without withholding or at a reduced rate. In addition, any
Lender, if reasonably requested by the Borrower or the Administrative Agent, shall deliver such other documentation prescribed by applicable law or reasonably requested by the Borrower or the Administrative Agent as will enable the Borrower or the
Administrative Agent to determine whether or not such Lender is subject to backup withholding or information reporting requirements. Notwithstanding anything to the contrary in the preceding two sentences, the completion, execution and submission of
such documentation (other than such documentation set forth in Section 5.03(e)(ii)(A), (ii)(B) and (ii)(D) below) shall not be required if in the Lender’s reasonable judgment such completion, execution or submission would subject such
Lender to any material unreimbursed cost or expense or would materially prejudice the legal or commercial position of such Lender. 

(ii) Without limiting the generality of the foregoing, in the event that the Borrower is a U.S. Person: 

 

	 	(A)	 any Lender that is a U.S. Person shall deliver to the Borrower and the Administrative Agent on or prior to the
date on which such Lender becomes a Lender under this Agreement (and from time to time thereafter upon the reasonable request of the Borrower or the Administrative Agent), executed originals of IRS Form W-9
certifying that such Lender is exempt from U.S. federal backup withholding tax; 

  

	 	(B)	 any Foreign Lender shall, to the extent it is legally entitled to do so, deliver to the Borrower and the
Administrative Agent (in such number of copies as shall be requested by the recipient) on or prior to the date on which such Foreign Lender becomes a Lender under this Agreement (and from time to time thereafter upon the reasonable request of the
Borrower or the Administrative Agent), whichever of the following is applicable: 

  

	 	(1)	 in the case of a Foreign Lender claiming the benefits of an income tax treaty to which the United States is a
party (x) with respect to payments of interest under any Loan Document, executed originals of IRS Form W-8BEN or IRS 

  
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Form W-8BEN-E, as the case may be, establishing an exemption from, or reduction of, U.S. federal withholding Tax pursuant to the “interest”
article of such tax treaty and (y) with respect to any other applicable payments under any Loan Document, IRS Form W-8BEN or IRS Form
W-8BEN-E, as the case may be, establishing an exemption from, or reduction of, U.S. federal withholding Tax pursuant to the “business profits” or “other
income” article of such tax treaty: 

  

	 	(2)	 executed originals of IRS Form W-8ECI; 

 

	 	(3)	 in the case of a Foreign Lender claiming the benefits of the exemption for portfolio interest under
Section 881(c) of the Code, (x) a certificate substantially in the form of Exhibit G-1 to the effect that such Foreign Lender is not a “bank” within the meaning of Section 881(c)(3)(A)
of the Code, a “10-percent shareholder” of the Borrower within the meaning of Section 881(c)(3)(B) of the Code, or a “controlled foreign corporation” described in
Section 881(c)(3)(C) of the Code (a “U.S. Tax Compliance Certificate”) and (y) executed originals of IRS Form W-8BEN or IRS Form W-8BEN-E, as the case may be; or 

  

	 	(4)	 to the extent a Foreign Lender is not the beneficial owner, executed originals of IRS Form W-8IMY, accompanied by IRS Form W-8ECI, IRS Form W-8BEN or IRS Form
W-8BEN-E, as the case may be, a U.S. Tax Compliance Certificate substantially in the form of Exhibit G-2 or Exhibit G-3, IRS Form W-9, and/or other certification documents from each beneficial owner, as applicable; provided that if the Foreign Lender is a partnership and one or more direct
or indirect partners of such Foreign Lender are claiming the portfolio interest exemption, such Foreign Lender may provide a U.S. Tax Compliance Certificate substantially in the form of Exhibit G-4 on behalf
of each such direct and indirect partner; 

  

	 	(C)	 any Foreign Lender shall, to the extent it is legally entitled to do so, deliver to the Borrower and the
Administrative Agent (in such number of copies as shall be requested by the recipient) on or prior to the date on which such Foreign 

  
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Lender becomes a Lender under this Agreement (and from time to time thereafter upon the reasonable request of the Borrower or the Administrative Agent), executed originals of any other form
prescribed by applicable law as a basis for claiming exemption from or a reduction in U.S. federal withholding Tax, duly completed, together with such supplementary documentation as may be prescribed by applicable law to permit the Borrower or the
Administrative Agent to determine the withholding or deduction required to be made; and 

  

	 	(D)	 if a payment made to a Lender under any Loan Document would be subject to U.S. federal withholding Tax imposed
by FATCA if such Lender were to fail to comply with the applicable reporting requirements of FATCA (including those contained in Section 1471(b) or 1472(b) of the Code, as applicable), such Lender shall deliver to the Borrower and the
Administrative Agent at the time or times prescribed by law and at such time or times reasonably requested by the Borrower or the Administrative Agent such documentation prescribed by applicable law (including as prescribed by
Section 1471(b)(3)(C)(i) of the Code) and such additional documentation reasonably requested by the Borrower or the Administrative Agent as may be necessary for the Borrower and the Administrative Agent to comply with their obligations under
FATCA and to determine that such Lender has complied with such Lender’s obligations under FATCA or to determine the amount to deduct and withhold from such payment. Solely for purposes of this clause (D), “FATCA” shall include any
amendments made to FATCA after the Effective Date. 

 (iii) Each Lender agrees that if any form or
certification it previously delivered expires or becomes obsolete or inaccurate in any respect, it shall update such form or certification or promptly notify the Borrower and the Administrative Agent in writing of its legal inability to do so. 

(f) Indemnification by the Lenders. Each Lender shall severally indemnify the Administrative Agent, within 30 days after demand
therefor, for (i) any Taxes attributable to such Lender (but only to the extent that the Borrower has not already indemnified the Administrative Agent for such Taxes and without limiting the obligation of the Borrower to do so) and
(ii) any Taxes attributable to such Lender’s failure to comply with the provisions of Section 12.04(c) relating to the maintenance of a Participant Register, in either case, that are payable or paid by the Administrative Agent in
connection with any Loan Document, and any reasonable expenses arising therefrom or with respect thereto, whether or not such Taxes were correctly or legally imposed or asserted by the relevant Governmental Authority. A certificate as to the amount
of such payment or liability delivered to any Lender by the Administrative Agent 

  
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shall be conclusive absent manifest error. Each Lender hereby authorizes the Administrative Agent to set off and apply any and all amounts at any time owing to such Lender under any Loan Document
or otherwise payable by the Administrative Agent to the Lender from any other source against any amount due to the Administrative Agent under this Section 5.03(f). 

(g) Treatment of Certain Refunds. If any party determines, in its sole discretion exercised in good faith, that it has received a
refund of any Taxes as to which it has been indemnified pursuant to this Section 5.03 (including by the payment of additional amounts pursuant to this Section 5.03), it shall pay to the indemnifying party an amount equal to such refund
(but only to the extent of indemnity payments made under this Section 5.03 with respect to the Taxes giving rise to such refund), net of all out-of-pocket expenses
(including Taxes imposed with respect to such refund) of such indemnified party incurred in connection with such refund and without interest (other than any interest paid by the relevant Governmental Authority with respect to such refund). Such
indemnifying party, upon the request of such indemnified party, shall repay to such indemnified party the amount paid over pursuant to this paragraph (g) (plus any penalties, interest or other charges imposed by the relevant Governmental Authority)
in the event that such indemnified party is required to repay such refund to such Governmental Authority. Notwithstanding anything to the contrary in this paragraph (g), in no event will the indemnified party be required to pay any amount to an
indemnifying party pursuant to this paragraph (g) the payment of which would place the indemnified party in a less favorable net after-Tax position than the indemnified party would have been in if the Tax
subject to indemnification and giving rise to such refund had not been deducted, withheld or otherwise imposed and the indemnification payments or additional amounts with respect to such Tax had never been paid. This paragraph shall not be construed
to require any indemnified party to make available its Tax returns (or any other information relating to its Taxes that it deems confidential) to the indemnifying party or any other Person. 

Section 5.04. Mitigation Obligations; Replacement of Lenders. 

(a) Designation of Different Lending Office. If any Lender requests compensation under Section 5.01, or if the Borrower is
required to pay any additional amount to any Lender or any Governmental Authority for the account of any Lender pursuant to Section 5.03, then such Lender shall use reasonable efforts to designate a different lending office for funding or
booking its Loans hereunder or to assign its rights and obligations hereunder to another of its offices, branches or affiliates, if, in the judgment of such Lender, such designation or assignment (i) would eliminate or reduce amounts payable
pursuant to Section 5.01 or Section 5.03, as the case may be, in the future and (ii) would not subject such Lender to any unreimbursed cost or expense and would not otherwise be disadvantageous to such Lender. The Borrower hereby
agrees to pay all reasonable costs and expenses incurred by any Lender solely as a result of any such designation or assignment. 
 (b)
Replacement of Lenders. If (i) any Lender requests compensation under Section 5.01, (ii) the Borrower is required to pay any additional amount to any Lender or any Governmental Authority for the account of any Lender pursuant to
Section 5.03, (iii) any Lender becomes a Defaulting Lender, (iv) any Lender has asserted that any adoption or change of the type described in Section 5.05 has occurred, or (v) any Lender fails to approve an amendment, waiver or
other modification to this Agreement that requires (I) the vote of all Lenders and at 

  
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least the Required Lenders have approved such amendment, waiver or other modification, or (II) the vote of the Required Lenders and at least the Majority Lenders have approved such
amendment, waiver or other modification, or (vi) any Lender fails to approve an increase, decrease or reaffirmation of the Borrowing Base and at least the Required Lenders have approved such increase, decrease or reaffirmation, then the
Borrower may, at its sole expense and effort, upon notice to such Lender and the Administrative Agent, require such Lender to assign and delegate, without recourse (in accordance with and subject to the restrictions contained in
Section 12.04(a)), all its interests, rights and obligations under this Agreement to an assignee that shall assume such obligations (which assignee may be another Lender, if a Lender accepts such assignment); provided that (i) if such
assignee is not a Lender the Borrower shall have received the prior written consent of the Administrative Agent, which consent shall not unreasonably be withheld, (ii) such Lender shall have received payment of an amount equal to the
outstanding principal of its Loans and participations in LC Disbursements, accrued interest thereon, accrued fees and all other amounts payable to it hereunder, from the assignee (to the extent of such outstanding principal and accrued interest and
fees) or the Borrower (in the case of all other amounts) and (iii) in the case of any such assignment resulting from a claim for compensation under Section 5.01 or payments required to be made pursuant to Section 5.03, such assignment
will result in a reduction in such compensation or payments. A Lender shall not be required to make any such assignment and delegation if, prior thereto, as a result of a waiver by such Lender or otherwise, the circumstances entitling the Borrower
to require such assignment and delegation cease to apply. 
 Section 5.05. Illegality. Notwithstanding any other provision of
this Agreement, in the event that it becomes unlawful for any Lender or its applicable lending office to honor its obligation to make or maintain Eurodollar Loans either generally or having a particular Interest Period hereunder, then (a) such
Lender shall promptly notify the Borrower and the Administrative Agent thereof and such Lender’s obligation to make such Eurodollar Loans shall be suspended (the “Affected Loans”) until such time as such Lender may again make
and maintain such Eurodollar Loans and (b) all Affected Loans which would otherwise be made by such Lender shall be made instead as ABR Loans (and, if such Lender so requests by notice to the Borrower and the Administrative Agent, all Affected
Loans of such Lender then outstanding shall be automatically converted into ABR Loans on the date specified by such Lender in such notice) and, to the extent that Affected Loans are so made as (or converted into) ABR Loans, all payments of principal
which would otherwise be applied to such Lender’s Affected Loans shall be applied instead to its ABR Loans. 
 ARTICLE VI  

CONDITIONS PRECEDENT 

Section 6.01. Effective Date. The obligations of the Lenders to make Loans and of the Issuing Bank to issue Letters of Credit
hereunder shall not become effective until the date on which each of the following conditions is satisfied (or waived in accordance with Section 12.02): 

(a) The Administrative Agent, the Arranger and the Lenders shall have received all commitment, facility and agency fees and all other fees and
amounts due and payable on or prior to the Effective Date, including, to the extent invoiced at least one day prior to the Effective Date, reimbursement or payment of all reasonable
out-of-pocket expenses required to be reimbursed or paid by the Borrower hereunder. 

  
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 (b) The Administrative Agent shall have received a certificate of a Responsible Officer of
the Borrower and each Guarantor setting forth (i) resolutions of its board of directors or similar governing authority with respect to the authorization of the Borrower or such Guarantor to execute and deliver the Loan Documents to which it is
a party and to enter into the transactions contemplated in those documents, (ii) the officers of the Borrower or such Guarantor (A) who are authorized to sign the Loan Documents to which the Borrower or such Guarantor is a party and
(B) who will, until replaced by another officer or officers duly authorized for that purpose, act as its representative for the purposes of signing documents and giving notices and other communications in connection with this Agreement and the
transactions contemplated hereby, (iii) specimen signatures of such authorized officers, and (iv) the articles or certificate of incorporation and bylaws (or comparable documents) of the Borrower and such Guarantor, certified as being true
and complete. The Administrative Agent and the Lenders may conclusively rely on such certificate until the Administrative Agent receives notice in writing from the Borrower to the contrary. 

(c) The Administrative Agent shall have received certificates of the appropriate State agencies with respect to the existence, qualification
and good standing of the Borrower and each Guarantor, in its state of organization and each state in which it is qualified to do business. 

(d) The Administrative Agent shall have received from each party hereto counterparts (in such number as may be requested by the Administrative
Agent) of this Agreement signed on behalf of such party. 
 (e) The Administrative Agent shall have received duly executed Notes payable to
each Lender requesting a Note prior to the Effective Date, in each case in a principal amount equal to the Maximum Credit Amount of such Lender and dated as of the Effective Date. 

(f) The Administrative Agent shall have received from each party thereto duly executed counterparts (in such number as may be requested by the
Administrative Agent) of the Security Instruments, including the Guaranty Agreement and the other Security Instruments described on Exhibit E. In connection with the execution and delivery of the Security Instruments, the Administrative Agent shall:

 (i) be reasonably satisfied that the Security Instruments create first priority, perfected Liens (subject, in respect of
priority, only to Excepted Liens identified in clauses (a) through (d), (f), (i), (k), (m) and (p) of the definition thereof, but subject to the provisos at the end of such definition) on at least 94% of the
PV-10 Value as reflected in the Initial Reserve Report; 
 (ii) have received
certificates (if any), together with undated, blank stock powers for each such certificate, representing all of the issued and outstanding Equity Interests of each of the Guarantors; and 

  
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 (iii) be reasonably satisfied that all Property constituting security for
the Second Lien Loans is subject to a first priority, perfected Lien in favor of the Administrative Agent under the Security Instruments (subject, in respect of priority, only to Excepted Liens identified in clauses (a) through (d), (f), (i),
(k), (m) and (p) of the definition thereof, but subject to the provisos at the end of such definition). 
 (g) The Administrative Agent
shall have received an opinion of (i) Latham & Watkins LLP, counsel to the Borrower, in form and substance reasonably satisfactory to the Administrative Agent, and (ii) local counsel in the state of Louisiana, in form and
substance reasonably acceptable to the Administrative Agent. The Borrower hereby requests such firms to deliver such opinions. 
 (h) The
Administrative Agent shall have received (i) evidence, in form and substance reasonably satisfactory to the Administrative Agent, of Environmental Financial Responsibility, and (ii) a certificate of insurance coverage of the Borrower
evidencing that the Borrower is carrying insurance in accordance with Section 7.12. 
 (i) The Administrative Agent shall have received
title information satisfactory to the Administrative Agent setting forth the status of title to at least 94% of the total value of the proved Oil and Gas Properties evaluated in the Initial Reserve Report, and the results thereof shall be acceptable
to the Administrative Agent. 
 (j) The Administrative Agent shall be reasonably satisfied with the environmental condition of the Oil and
Gas Properties of the Borrower and its Subsidiaries. 
 (k) The Administrative Agent shall have received a certificate of a Responsible
Officer of the Borrower certifying (i) that the Borrower has received all consents and approvals required by Section 7.03 and (ii) as to the matters set forth in Section 6.02(a) and Section 6.02(b). 

(l) The Administrative Agent and the Lenders shall have received (i) an audited consolidated balance sheet and related statements of
operations, stockholders’ equity and cash flows of the Parent as of and for the fiscal year ended December 31, 2015, (ii) unaudited consolidated balance sheets and related statements of operations, stockholders’ equity and cash flows
of the Parent as of and for the fiscal quarters ending March 31, 2016, June 30, 2016, and September 30, 2016, the six-month period ended June 30, 2016, and the nine month period ended
September 30, 2016, (iii) projections of consolidated balance sheets, income statements and cash flow statements of the Parent, and (iv) the Initial Reserve Report. 

(m) The Administrative Agent shall have received a certificate of a Financial Officer demonstrating that, after giving effect to the
Transactions, the Borrower is in compliance on a pro forma basis with the Financial Covenants as of the Effective Date. 
 (n) The
Administrative Agent shall have received appropriate UCC search results reflecting no prior Liens encumbering the Properties of the Borrower and the Subsidiaries or the Acquisition Properties other than those being assigned or released on or prior
to the Effective Date or Liens permitted by Section 9.03, for each of the following jurisdictions: Texas, Delaware, and Louisiana and any other jurisdiction reasonably requested by the Administrative Agent. 

  
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 (o) The Administrative Agent shall have received a certificate of a Responsible Officer
attaching a true, correct and complete copy of (i) the Incremental Second Lien Loan Documents, each of which shall be in form and substance reasonably acceptable to the Administrative Agent, and contemporaneously with the Effective Date, the
Borrower shall have received proceeds thereunder (net of any original issue discount or expenses) not in excess of $75,000,000 and (ii) the Effective Date Preferred Equity Documents, each of which shall be in form and substance reasonably
acceptable to the Administrative Agent, and contemporaneously with the Effective Date, the Borrower shall have received proceeds thereunder (net of any expense) of at least $110,000,000; provided that the Borrower shall have received,
contemporaneous with the Effective Date, aggregate proceeds (net of any original issue discount or expenses) of not less than $185,000,000 from the issuance of the Incremental Second Lien Loans and the Effective Date Preferred Equity. 

(p) The Administrative Agent shall be reasonably satisfied that after giving pro forma effect to the Transactions and the funding of the
initial Loans hereunder, the Borrower has Availability under this Agreement of not less than $40,000,000. 
 (q) The Administrative Agent
and the Lenders shall have received from the Borrower all documentation and other information required under applicable “know your customer” and anti-money laundering rules and regulations, including the PATRIOT Act, requested in writing
at least 7 Business Days prior to the Effective Date. 
 (r) The Administrative Agent shall have received (i) a certificate of a
Responsible Officer of the Borrower certifying: (A) that the Borrower is concurrently consummating the Acquisition in accordance with the terms of the Acquisition Documents and acquiring substantially all of the Properties contemplated by the
Acquisition Documents; (B) as to any Acquisition Properties evaluated in the Initial Reserve Report but which have been excluded from the Acquisition pursuant to the terms of the Acquisition Documents, specifying with respect thereto the basis
of exclusion as (1) title defect, (2) preferential purchase right or consent right, (3) environmental or casualty loss or (4) other permitted basis for exclusion; (ii) a true and complete executed copy of each material
Acquisition Document; and (iii) such other related documents and information as the Administrative Agent shall have reasonably requested. 
 The
Administrative Agent shall notify the Borrower and the Lenders of the Effective Date, and such notice shall be conclusive and binding. 
 Notwithstanding
the foregoing, the obligations of the Lenders to make Loans and of the Issuing Bank to issue Letters of Credit hereunder shall not become effective unless each of the foregoing conditions is satisfied (or waived pursuant to Section 12.02) at or
prior to 1:00 p.m., Houston, Texas time, on December 30, 2016 (and, in the event such conditions are not so satisfied, extended or waived, the Commitments shall terminate at such time). For purposes of determining compliance with the conditions
specified in this Section 6.01, each Lender that has signed this Agreement shall be deemed to have consented to, approved or accepted or to be satisfied with, each document or other matter required thereunder to be consented to or approved by
or acceptable or satisfactory to a Lender unless the Administrative Agent shall have received written notice from such Lender prior to the proposed Effective Date specifying its objection thereto. 

  
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 Section 6.02. Each Credit Event. The obligation of each Lender to make a Loan on
the occasion of any Borrowing (excluding on the Effective Date, and any Loan made pursuant to Section 2.08(e)), and of the Issuing Bank to issue, amend, renew or extend any Letter of Credit, is subject to the satisfaction of the following
conditions: 
 (a) At the time of and immediately after giving effect to such Borrowing or the issuance, amendment, renewal or extension of
such Letter of Credit, as applicable, no Default or Event of Default shall have occurred and be continuing. 
 (b) The representations and
warranties of the Borrower and the Guarantors set forth in this Agreement and in the other Loan Documents shall be true and correct in all material respects (unless such representation and warranty is already qualified by materiality, in which case
such representation or warranty shall simply be true and correct) on and as of the date of such Borrowing or the date of issuance, amendment, renewal or extension of such Letter of Credit, as applicable, except to the extent any such representations
and warranties are expressly limited to an earlier date, in which case, on and as of the date of such Borrowing or the date of issuance, amendment, renewal or extension of such Letter of Credit, as applicable, such representations and warranties
shall continue to be true and correct as aforesaid as of such specified earlier date. 
 (c) Immediately after giving effect to such
Borrowing and the use of the proceeds thereof, the Consolidated Cash Balance shall not exceed the Consolidated Cash Balance Borrowing Threshold. 

(d) The receipt by the Administrative Agent of a Borrowing Request in accordance with Section 2.03 or a request for a Letter of Credit in
accordance with Section 2.08(b), as applicable. 
 (e) Each request for a Borrowing and each request for the issuance, amendment,
renewal or extension of any Letter of Credit shall be deemed to constitute a representation and warranty by the Borrower on the date thereof as to the matters specified in Section 6.02(a), (b) and (c). 

ARTICLE VII  

REPRESENTATIONS AND WARRANTIES 
 Each of
Parent and the Borrower represents and warrants to the Lenders that: 
 Section 7.01. Organization; Powers. Each of the Parent,
the Borrower and the Subsidiaries is duly organized, validly existing and in good standing under the laws of the jurisdiction of its organization, has all requisite power and authority, and has all material governmental licenses, authorizations,
consents and approvals necessary, to own its material assets and to carry on its business as now conducted, and is qualified to do business in, and is in good standing in, every jurisdiction where such qualification is required, except where failure
to have such power, authority, licenses, authorizations, consents, approvals and qualifications could not reasonably be expected to have a Material Adverse Effect. 

  
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 Section 7.02. Authority; Enforceability. The Transactions are within the
Borrower’s and each Guarantor’s corporate, partnership or limited liability company powers and have been duly authorized by all necessary corporate, partnership or limited liability company and, if required, stockholder, partner or member
action (including, without limitation, any action required to be taken by any class of directors of the Parent, the Borrower or any other Person, whether interested or disinterested, in order to ensure the due authorization of the Transactions).
Each Loan Document and Acquisition Document to which the Borrower and each Guarantor is a party has been duly executed and delivered by the Borrower and such Guarantor and constitutes a legal, valid and binding obligation of the Borrower and such
Guarantor, as applicable, enforceable in accordance with its terms, subject to applicable bankruptcy, insolvency, reorganization, fraudulent transfer or conveyance, moratorium or other laws affecting creditors’ rights generally and subject to
general principles of equity, regardless of whether considered in a proceeding in equity or at law, and an implied covenant of good faith and fair dealing. 

Section 7.03. Approvals; No Conflicts. The Transactions (a) do not require any consent or approval of, registration or filing
with, or any other action by, any Governmental Authority or any other third Person (including shareholders or any class of directors, whether interested or disinterested, of the Parent, the Borrower or any other Person), nor is any such consent,
approval, registration, filing or other action necessary for the validity or enforceability of any Loan Document or the consummation of the transactions contemplated thereby and the Transactions, except such as have been obtained or made and are in
full force and effect other than (i) the recording or filing of the Security Instruments and related financing statements as required by this Agreement, (ii) those third party approvals or consents which, if not made or obtained, would not
cause a Default hereunder, could not reasonably be expected to have a Material Adverse Effect or do not have an adverse effect on the enforceability of the Loan Documents, (iii) those necessary to comply with Sections 8.03, 8.09 and 8.14, (iv)
routine filings related to the Loan Parties and the operation of their respective businesses and (v) filings as may be necessary in connection with the exercise of remedies, (b) will not violate any applicable material law or regulation or
the charter, by-laws or other organizational documents of the Parent, the Borrower or any Subsidiary or any order of any Governmental Authority, (c) will not violate or result in a default under any
material indenture, agreement or other instrument binding upon the Parent, the Borrower or any Subsidiary or its Properties, or give rise to a right thereunder to require any payment to be made by the Parent, the Borrower or such Subsidiary and
(d) except as contemplated by this Agreement, the Second Lien Term Loan Documents or the Permitted Refinancing Documents will not result in the creation or imposition of any Lien on any Property of the Parent, the Borrower or any Subsidiary.

 Section 7.04. Financial Condition; No Material Adverse Change. 

(a) The Borrower has heretofore furnished to the Lenders a pro forma balance sheet and capitalization of the Parent as of September 30,
2016 prepared after giving effect to the Transactions as if the Transactions had occurred as of such date. The pro forma balance sheet and capitalization presents fairly, in all material respects, the pro forma financial position of the Parent and
its Consolidated Subsidiaries as of such date after giving effect to the Transactions. 

  
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 (b) The Borrower has heretofore furnished to the Lenders the consolidated balance sheet and
statements of income, stockholders equity and cash flows for the Parent, (i) as reported on by KPMG LLP, independent public accountants for the fiscal year ended December 31, 2015 and (ii) for the fiscal quarters ended March 31,
2016, June 30, 2016 and September 30, 2016, certified by the chief financial officer of the Parent. Such financial statements present fairly, in all material respects, the financial position and results of operations and cash flows of the
Parent and its Consolidated Subsidiaries as of such dates and for such periods in accordance with GAAP, subject to year-end audit adjustments and the absence of footnotes in the case of the unaudited quarterly
financial statements. 
 (c) Since December 31, 2015, there has been no event, development or circumstance that has had or could
reasonably be expected to have a Material Adverse Effect. 
 (d) Neither the Parent, the Borrower nor any Subsidiary has on the Effective
Date any material Debt (including Disqualified Capital Stock) or any contingent liabilities, off-balance sheet liabilities or partnerships, liabilities for taxes, unusual forward or long-term commitments or
unrealized or anticipated losses from any unfavorable commitments, except as referred to or reflected or provided for in the pro forma balance sheets referenced in clause (a) above. 

Section 7.05. Litigation. 

(a) Except as set forth on Schedule 7.05, there are no actions, suits, investigations or proceedings by or before any arbitrator or
Governmental Authority pending against or, to the knowledge of the Borrower, threatened against or affecting the Borrower or any Subsidiary (i) not fully covered by insurance (except for normal deductibles) as to which there is a reasonable
possibility of an adverse determination that could reasonably be expected, individually or in the aggregate, to result in a Material Adverse Effect, (ii) that involve any Loan Document or the Transactions or (iii) involving the
Acquisition. 
 (b) Since the Effective Date, there has been no change in the status of the matters disclosed in Schedule 7.05 that,
individually or in the aggregate, has resulted in a Material Adverse Effect. 
 Section 7.06. Environmental Matters. Except for
such matters as set forth on Schedule 7.06 or that, individually or in the aggregate, could not reasonably be expected to have a Material Adverse Effect (or with respect to clause (b) below, where the failure to take such action could not
reasonably be expected to have a Material Adverse Effect): 
 (a) The Parent, the Borrower and the Subsidiaries and each of their respective
Properties and operations thereon are, and within all applicable statute of limitation periods have been, in compliance with all applicable Environmental Laws. 

(b) The Parent, the Borrower and the Subsidiaries have obtained all Environmental Permits required for their respective operations and each of
their Properties, with all such Environmental Permits being currently in full force and effect, and none of Parent, Borrower or the Subsidiaries has received any written notice or otherwise has knowledge that any such existing Environmental Permit
will be revoked or that any application for any new Environmental Permit or renewal of any existing Environmental Permit will be protested or denied. 

  
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 (c) There are no claims, demands, suits, orders, inquiries, or proceedings concerning any
violation of, or any liability (including as a potentially responsible party) under, any applicable Environmental Laws that is pending or, to Parent’s or Borrower’s knowledge, threatened against the Parent, Borrower or any Subsidiary or
any of their respective Properties or as a result of any operations at such Properties. 
 (d) There has been no Release or, to the
Parent’s or the Borrower’s knowledge, threatened Release, of Hazardous Materials in violation of, or requiring notice to a Governmental Authority under, any applicable Environmental Law at, on, under or from the Parent’s, the
Borrower’s or any Subsidiary’s Properties. No Remedial Work is required under applicable Environmental Laws at such Properties. 

(e) Neither the Parent, the Borrower nor any Subsidiary has received any written notice asserting alleged liability or obligation under any
applicable Environmental Laws with respect to the Release or threatened Release of Hazardous Materials, or the need or potential need for Remedial Work, at, under, or from any real properties offsite the Parent’s the Borrower’s or any
Subsidiary’s Properties and, to the Parent’s or Borrower’s knowledge, there are no conditions or circumstances that could reasonably be expected to result in the receipt of such written notice. 

(f) To Parent’s or Borrower’s knowledge, there has been no exposure of any Person or Property to any Hazardous Materials as a result
of or in connection with the operations and businesses of any of the Parent’s the Borrower’s or the Subsidiaries’ Properties that could reasonably be expected to form the basis for a claim for damages or compensation. 

(g) To Parent’s or Borrower’s knowledge, there has been no exposure of any Person or Property to any Hazardous Materials as a result
of or in connection with the operations and businesses of any of the Parent’s the Borrower’s or the Subsidiaries’ Properties that could reasonably be expected to form the basis for a claim for damages or compensation. 

(h) The Parent, the Borrower and the Subsidiaries have provided to the Lenders access to all material environmental site assessment reports,
investigations and written studies (including those relating to any alleged non-compliance with or liability under Environmental Laws or Remedial Work) that are in any of the Parent’s, the Borrower’s
or the Subsidiaries’ possession or control and relating to their respective Properties or operations thereon. 
 Section 7.07.
Compliance with the Laws and Agreements; No Defaults. 
 (a) Each of the Parent, the Borrower and the Subsidiaries is in compliance
with all Governmental Requirements applicable to it or its Property, including any rule or regulation promulgated by the Bureau of Ocean Energy Management (or any successor agency thereto) or the Bureau of Safety and Environmental Enforcement (or
any successor agency thereto) applicable to the plugging and abandonment of the Borrower’s and its Subsidiaries’ Oil and Gas Properties, and all agreements and other instruments binding upon it or its Property, and possesses all licenses,
permits, franchises, exemptions, approvals and other governmental authorizations necessary for the ownership of its Property and the conduct of its business, except where the failure to do so, individually or in the aggregate, could not reasonably
be expected to result in a Material Adverse Effect. 

  
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 (b) Neither the Parent, the Borrower nor any Subsidiary is in default nor has any event or
circumstance occurred which, but for the expiration of any applicable grace period or the giving of notice, or both, would constitute a default, or would require the Borrower or any Subsidiary to Redeem or make any offer to Redeem, under any
indenture, note, credit agreement or instrument pursuant to which any Material Indebtedness is outstanding or by which the Borrower or any Subsidiary or any of their Properties is bound where such default could reasonably be expected to result in a
Material Adverse Effect. 
 (c) No Default has occurred and is continuing. 

Section 7.08. Investment Company Act. Neither the Parent, the Borrower nor any Subsidiary is an “investment company”
within the meaning of, or subject to regulation under, the Investment Company Act of 1940, as amended. 
 Section 7.09. Taxes.
(a) Each of the Parent, the Borrower and its Subsidiaries has timely filed or caused to be filed all federal income and other material Tax returns and reports required to have been filed (or obtained extensions with respect thereto) and has
paid or caused to be paid all Taxes required to have been paid by it, except (i) Taxes that are being contested in good faith by appropriate proceedings and for which the Parent, the Borrower or such Subsidiary, as applicable, has set aside on
its books adequate reserves in accordance with GAAP or (ii) to the extent that the failure to do so could not reasonably be expected to result in a Material Adverse Effect, and (b) no action to enforce any Tax Lien has been commenced. 

Section 7.10. ERISA. Except as could not reasonably be expected to have a Material Adverse Effect, 

(a) The Parent, the Borrower, the Subsidiaries and each ERISA Affiliate have complied with ERISA and, where applicable, the Code regarding
each Plan. 
 (b) Each Plan is, and has been, established and maintained in compliance with its terms, ERISA and, where applicable, the
Code. 
 (c) No act, omission or transaction has occurred which could result in imposition on the Parent, the Borrower, any Subsidiary or
any ERISA Affiliate (whether directly or indirectly) of (i) either a civil penalty assessed pursuant to subsections (c), (i), (l) or (m) of section 502 of ERISA or a tax imposed pursuant to Chapter 43 of Subtitle D of the Code or
(ii) breach of fiduciary duty liability damages under section 409 of ERISA. 
 (d) Full payment when due has been made of all amounts
which the Parent, the Borrower, the Subsidiaries or any ERISA Affiliate is required under the terms of each Plan or applicable law to have paid as contributions to such Plan as of the Effective Date. 

(e) Neither the Parent, the Borrower, the Subsidiaries nor any ERISA Affiliate sponsors, maintains, or contributes to an employee welfare
benefit plan, as defined in section 3(1) of ERISA, including, without limitation, any such plan maintained to provide benefits to former employees of such entities, that may not be terminated by the Borrower, a Subsidiary or any ERISA Affiliate in
its sole discretion at any time without any liability. 

  
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 (f) Neither the Parent, the Borrower, the Subsidiaries nor any ERISA Affiliate sponsors,
maintains or contributes to, or has at any time in the six-year period preceding the Effective Date sponsored, maintained or contributed to, any employee pension benefit plan, as defined in section 3(2) of
ERISA, that is subject to Title IV of ERISA, section 302 of ERISA or section 412 of the Code. 
 Section 7.11. Disclosure; No
Material Misstatements. Taken as a whole, none of the other reports, financial statements, certificates or other written information (other than projections) furnished by or on behalf of the Parent, the Borrower or any Subsidiary to the
Administrative Agent or any Lender or any of their Affiliates in connection with the negotiation of this Agreement or any other Loan Document or delivered hereunder or under any other Loan Document (as modified or supplemented by other information
so furnished), when furnished, contains any material misstatement of fact or omits to state any material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not materially misleading (other
than omissions that pertain to matters of a general economic nature or matters of public knowledge that generally affect any of the industry segments of the Borrower or its Subsidiaries); provided that, with respect to projected financial
information, prospect information, geological and geophysical data and engineering projections the Parent and the Borrower represent only that such information was prepared in good faith based upon reasonable assumptions at the time made (it being
understood that such projections are not to be viewed as fact and are subject to significant uncertainties and contingencies and that actual results may vary materially). There are no statements or conclusions in any Reserve Report which are based
upon or include material misleading information or fail to take into account material information regarding the matters reported therein, it being understood that projections concerning volumes attributable to the Oil and Gas Properties of the
Borrower and the Subsidiaries and production and cost estimates contained in each Reserve Report are necessarily based upon professional opinions, estimates and projections and that the Parent, the Borrower and the Subsidiaries do not warrant that
such opinions, estimates and projections will ultimately prove to have been accurate. 
 Section 7.12. Insurance. The Parent and
the Borrower have, and have caused all of its Subsidiaries to have, (a) all insurance policies sufficient for the compliance by each of them with all material Governmental Requirements and all material agreements and (b) insurance coverage
in at least amounts and against such risk (including, without limitation, public liability) that are usually insured against by companies similarly situated and engaged in the same or a similar business for the assets and operations of the Parent,
the Borrower and its Subsidiaries. The Administrative Agent and the Lenders have been named as additional insureds in respect of such liability insurance policies and the Administrative Agent has been named as loss payee with respect to Property
loss insurance. 
 Section 7.13. Restriction on Liens. Neither the Parent, the Borrower nor any of the Subsidiaries is a party
to any material agreement or arrangement (other than the Second Lien Term Loan Documents, the Permitted Refinancing Documents or Debt and Capital Leases creating Liens permitted by Section 9.03(c), but then only on the Property securing such
Debt or 

  
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subject to such Capital Lease, any accessions thereto and proceeds thereof), or is subject to any order, judgment, writ or decree, which either restricts or purports to restrict its ability to
grant Liens to the Administrative Agent and the Lenders on or in respect of their Properties to secure the Secured Obligations and the Loan Documents.  

Section 7.14. Subsidiaries; Foreign Operations. Except as set forth on Schedule 7.14 or as disclosed in writing to the
Administrative Agent (which shall promptly furnish a copy to the Lenders), which shall be a supplement to Schedule 7.14, the Borrower has no Subsidiaries. The Borrower has no Foreign Subsidiaries and no Subsidiary owns any Oil and Gas Properties not
located within the geographic boundaries of the United States of America and the outer continental shelf adjacent thereto and subject to the jurisdiction of the United States of America. Each Subsidiary on Schedule 7.14 is a Wholly-Owned Subsidiary.
Unless and until the Borrower shall have complied with the requirements of Section 8.20(b), EnVen Deepwater has no material assets, does not conduct any material business and is not an obligor under any material Debt or other liabilities. 

Section 7.15. Location of Business and Offices. The Borrower’s jurisdiction of organization is Delaware and the Parent’s
jurisdiction of organization is Delaware; the name of the Borrower as listed in the public records of its jurisdiction of organization is Energy Ventures GoM LLC; and the organizational identification number of the Borrower in its jurisdiction of
organization is 5551528; the name of the Parent as listed in the public records of its jurisdiction of organization is EnVen Energy Corporation; and the organizational identification number of the Parent in its jurisdiction of organization is
5551527 (or, in each case, as set forth in a notice delivered to the Administrative Agent pursuant to Section 8.01(m) in accordance with Section 12.01). The Borrower’s principal place of business and chief executive offices are located at
the address specified in Section 12.01 (or as set forth in a notice delivered pursuant to Section 8.01(m) and Section 12.01(c)). Each Subsidiary’s jurisdiction of organization, name as listed in the public records of its jurisdiction
of organization, organizational identification number in its jurisdiction of organization, and the location of its principal place of business and chief executive office is stated on Schedule 7.14 (or as set forth in a notice delivered pursuant to
Section 8.01(m)). 
 Section 7.16. Properties; Titles, Etc. Except as could not reasonably be expected to have a Material
Adverse Effect: 
 (a) Each of the Parent, the Borrower and the Subsidiaries has good and defensible title to the Oil and Gas Properties
evaluated in the most recently delivered Reserve Report and good title to all its personal Properties that are necessary to permit the Parent, the Borrower and the Subsidiaries to conduct their business in all material respects in the same manner as
its business has been conducted prior to the Effective Date, and in each case, free and clear of all Liens except Liens permitted by Section 9.03. After giving full effect to the Excepted Liens, the Parent, the Borrower or the Subsidiary
specified as the owner owns the net interests in production attributable to the Hydrocarbon Interests as reflected in the most recently delivered Reserve Report, and the ownership of such Properties shall not obligate the Parent, the Borrower or
such Subsidiary to bear the costs and expenses relating to the maintenance, development and operations of each such Property in an amount in excess of the working interest of each Property set forth in the most recently delivered Reserve Report that
is not offset by a corresponding 

  
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proportionate increase in the Parent’s, the Borrower’s or such Subsidiary’s net revenue interest in such Property; provided that the Borrower or any Subsidiary shall have the right
to bear costs disproportionate to the Parent’s, the Borrower’s or such Subsidiary’s working interest with respect to any Hydrocarbon Interest for a period of time in order to earn an interest in such Hydrocarbon Interest from a third
party as evidenced by written agreement. 
 (b) All material leases and agreements necessary for the conduct of the business of the Parent,
the Borrower and the Subsidiaries are valid and subsisting, in full force and effect, and there exists no default or event or circumstance which with the giving of notice or the passage of time or both would give rise to a default under any such
lease or leases. 
 (c) The rights and Properties presently owned, leased or licensed by the Parent, the Borrower and the Subsidiaries
including, without limitation, all easements and rights of way, include all rights and Properties necessary to permit the Parent, the Borrower and the Subsidiaries to conduct their business in all material respects in the same manner as its business
has been conducted prior to the Effective Date. 
 (d) All of the Properties of the Parent, the Borrower and the Subsidiaries which are
reasonably necessary for the operation of their businesses are in good working condition (normal wear and tear excepted) and are maintained in accordance with prudent industry standards. 

(e) The Parent, the Borrower and each Subsidiary owns, or is licensed to use, all trademarks, tradenames, copyrights, patents and other
intellectual Property material to its business, and the use thereof by the Parent, the Borrower and such Subsidiary does not infringe upon the rights of any other Person. The Parent, the Borrower and its Subsidiaries either own or have valid
licenses or other rights to use all databases, geological data, geophysical data, engineering data, seismic data, maps, interpretations and other technical information used in their businesses as presently conducted, subject to the limitations
contained in the agreements governing the use of the same, which limitations are customary for companies engaged in the business of the exploration and production of Hydrocarbons. 

Section 7.17. Maintenance of Properties. Except for such acts or failures to act as could not be reasonably expected to have a
Material Adverse Effect, the Oil and Gas Properties (and Properties unitized therewith) of the Parent, the Borrower and its Subsidiaries have been maintained, operated and developed in a good and workmanlike manner and in conformity with all
Governmental Requirements and in conformity with the provisions of all leases, subleases or other contracts comprising a part of the Hydrocarbon Interests and other contracts and agreements forming a part of the Oil and Gas Properties of the Parent,
the Borrower and its Subsidiaries. Specifically in connection with the foregoing, except for those as could not be reasonably expected to have a Material Adverse Effect, (i) no Oil and Gas Property of the Parent, the Borrower or any Subsidiary
is subject to having allowable production reduced below the full and regular allowable (including the maximum permissible tolerance) because of any overproduction (whether or not the same was permissible at the time) and (ii) none of the wells
comprising a part of the Oil and Gas Properties (or Properties unitized therewith) of the Parent, the Borrower or any Subsidiary is deviated from the vertical more than the maximum permitted by Governmental Requirements, and such wells are, in fact,
bottomed under and are producing from, and the well bores are wholly within, the Oil and Gas Properties (or in the case of wells 

  
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located on Properties unitized therewith, such unitized Properties) of the Parent, the Borrower or such Subsidiary. All pipelines, wells, gas processing plants, platforms and other material
improvements, fixtures and equipment owned in whole or in part by the Parent, the Borrower or any of its Subsidiaries that are necessary to conduct normal operations are being maintained in a state adequate to conduct normal operations, and with
respect to such of the foregoing which are operated by the Parent, the Borrower or any of its Subsidiaries, in a manner consistent with the Borrower’s or its Subsidiaries’ past practices (other than those the failure of which to maintain
in accordance with this Section 7.17 could not reasonably be expected to have a Material Adverse Effect). 
 Section 7.18. Gas
Imbalances, Prepayments. Except as set forth on Schedule 7.18 or on the most recent certificate delivered pursuant to Section 8.12(c), on a net basis there are no gas imbalances, take or pay or other prepayments which would require the
Parent, the Borrower or any of its Subsidiaries to deliver Hydrocarbons produced from their Oil and Gas Properties at some future time without then or thereafter receiving full payment therefor exceeding five percent (5.0%) or more of the monthly
production of Hydrocarbons produced from such Oil and Gas Properties in the aggregate. 
 Section 7.19. Marketing of Production.
Except for contracts listed and in effect on the Effective Date on Schedule 7.19, and thereafter either disclosed in writing to the Administrative Agent or included in the most recently delivered Reserve Report (with respect to all of which
contracts the Borrower represents that it or its Subsidiaries are receiving a price for all production sold thereunder which is computed substantially in accordance with the terms of the relevant contract and are not having deliveries curtailed
substantially below the subject Property’s delivery capacity), no material agreements exist which are not cancelable on 120 days’ notice or less without penalty or detriment for the sale of production from the Borrower’s or its
Subsidiaries’ Hydrocarbons (including, without limitation, calls on or other rights to purchase, production, whether or not the same are currently being exercised) that (a) pertain to the sale of production at a fixed price and
(b) have a maturity or expiry date of longer than six (6) months. 
 Section 7.20. Swap Agreements. Schedule 7.20, as
of the Effective Date, and after the Effective Date, each report required to be delivered by the Borrower pursuant to Section 8.01(d), as of the date of such report, sets forth, a true and complete list of all Swap Agreements of the Borrower
and each Subsidiary, the material terms thereof (including the type, term, effective date, termination date and notional amounts or volumes), the net mark to market value thereof, all credit support agreements relating thereto (including any margin
required or supplied) and the counterparty to each such agreement. 
 Section 7.21. Use of Loans and Letters of Credit. The
proceeds of the Loans shall be used (a) to refinance all amounts due or outstanding under or in respect of, the Existing Credit Agreement, (b) to pay transaction expenses and third party fees related to the Loans and this Agreement and
(c) for the working capital and general corporate purpose needs of the Borrower and its Subsidiaries (including exploration and development of Borrower’s and its Subsidiaries’ existing Oil and Gas Properties and acquisitions of
additional Oil and Gas Properties and/or companies owning such properties). In no event shall the proceeds of the Loans be used to (i) fund the Acquisition or (ii) Redeem any Second Lien Loans, any Permitted Refinancing Debt in 

  
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respect thereof or any Effective Date Preferred Equity Interests. The Parent, the Borrower and its Subsidiaries are not engaged principally, or as one of its or their important activities, in the
business of extending credit for the purpose, whether immediate, incidental or ultimate, of buying or carrying margin stock (within the meaning of Regulation T, U or X of the Board). 

Section 7.22. Solvency. After giving effect to the transactions contemplated hereby: (a) the fair value of the assets of the
Borrower and its Subsidiaries, on a consolidated basis, exceeds, on a consolidated basis, their debts and liabilities, subordinated, contingent or otherwise, (b) the present fair saleable value of the property of the Borrower and its
Subsidiaries, on a consolidated basis, is greater than the amount that will be required to pay the probable liability, on a consolidated basis, of their debts and other liabilities, subordinated, contingent or otherwise, as such debts and other
liabilities become absolute and matured, (c) the Borrower and its Subsidiaries, on a consolidated basis, are able to pay their debts and liabilities, subordinated, contingent or otherwise, as such liabilities become absolute and matured, and
(d) the Borrower and its Subsidiaries, on a consolidated basis, are not engaged in, and are not about to engage in, business for which they have unreasonably small capital. 

Section 7.23. Money Laundering. The operations of the Parent, the Borrower and its Subsidiaries are and have been conducted at all
times in material compliance with applicable financial recordkeeping and reporting requirements of the Money Laundering Laws, and no action, suit or proceeding by or before any court or governmental agency, authority or body or any arbitrator
involving the Parent, the Borrower or any of its Subsidiaries with respect to the Money Laundering Laws is pending or, to the knowledge of the Parent or the Borrower, threatened. 

Section 7.24. Anti-Corruption Laws; Sanctions. 

(a) None of (i) the Parent, the Borrower, any Subsidiary or to the knowledge of the Borrower or such Subsidiary any of their respective
directors, officers or employees, or Affiliates or (ii) to the knowledge of the Borrower or such Subsidiary, any agent of the Borrower or any Subsidiary that will act in any capacity in connection with or benefit from the credit facility
established hereby, is a Sanctioned Person. Neither the Parent nor the Borrower will directly or indirectly use the proceeds from the Loans or lend, contribute or otherwise make available such proceeds to any Subsidiary, joint venture partner or
other Person, for the purpose of financing the activities of any Person currently subject to any Sanctions administered by the Office of Foreign Asset Control. 

(b) Each of the Parent and the Borrower has implemented and maintains in effect policies and procedures designed to ensure compliance by the
Parent, the Borrower, its Subsidiaries and their respective directors, officers, employees, agents and controlled Affiliates with Anti-Corruption Laws and applicable Sanctions, and the Parent, the Borrower, its Subsidiaries and their respective
officers and employees, and to the knowledge of the Parent and the Borrower their directors and agents, are in compliance with Anti-Corruption Laws and applicable Sanctions in all material respects. No Loan or Letter of Credit, use of proceeds or
other transaction contemplated by this Agreement will violate Anti-Corruption Laws or applicable Sanctions. 

  
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 Section 7.25. Security Documents. 

(a) The Security Instruments, upon execution and delivery thereof by the parties thereto, will create in favor of the Administrative Agent,
for the ratable benefit of the Lenders, a legal, valid and enforceable security interest in the collateral described therein and the proceeds thereof and (i) to the extent that any Pledged Securities (as defined in the Guaranty Agreement)
constitute “securities” under Article 8 of the UCC (as defined in the Guaranty Agreement), when such Pledged Securities are delivered to the Administrative Agent, the Lien created under the Guaranty Agreement shall constitute a perfected
Lien on, and security interest in, all right, title and interest of the Loan Parties in such Pledged Securities, and (ii) when financing statements in appropriate form are recorded in the offices specified on Schedule 3 of the Guaranty
Agreement, the Lien created under the Security Instruments will constitute a perfected Lien on, and security interest in, all right, title and interest of the Loan Parties in such collateral to the extent that such Lien can be perfected by the
filing of a financing statement, in each case subject only to Excepted Liens identified in clauses (a) through (d), (f), (i), (k), (m) and (p) of the definition thereof, but subject to the provisos at the end of such definition. 

(b) The Mortgages are effective to create in favor of the Administrative Agent, for the ratable benefit of the Lenders, a legal, valid and
enforceable Lien on all of the Loan Parties’ right, title and interest in and to the Mortgaged Property (as defined therein) thereunder and the proceeds thereof, and when the Mortgages are recorded in the offices specified on Exhibit E, the
Mortgages shall constitute a perfected Lien on, and security interest in, all right, title and interest of the Loan Parties in such Mortgaged Property and the proceeds thereof, in each case prior and superior in right to any other Person, other than
with respect to the rights of Persons pursuant to Excepted Liens identified in clauses (a) through (d), (f), (i), (k), (m) and (p) of the definition thereof, but subject to the provisos at the end of such definition. 

Section 7.26. Accounts. Schedule 7.26 (as the same may be supplemented by the Borrower from time to time upon delivery of a
written supplement to the Administrative Agent) lists all Deposit Accounts, Securities Accounts and Commodity Accounts maintained by or for the benefit of the Borrower or any Subsidiary and identifies whether any such Deposit Account, Securities
Account or Commodity Account constitutes an Excluded Account. 
 Section 7.27. Acquisition Documents. The copies of the
Acquisition Documents previously delivered by the Borrower to the Administrative Agent are true, accurate and complete and have not been amended or modified in any manner, other than pursuant to amendments or modifications that individually or in
the aggregate are not materially adverse to the Lenders. 

  
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 ARTICLE VIII  

AFFIRMATIVE COVENANTS 

Until the Commitments have expired or been terminated and the principal of and interest on each Loan and all fees payable hereunder and all
other amounts payable under the Loan Documents shall have been paid in full in immediately available funds and all Letters of Credit shall have expired or terminated or been cash collateralized and all LC Disbursements shall have been reimbursed,
each of the Parent and the Borrower covenants and agrees with the Lenders that: 
 Section 8.01. Financial Statements; Other
Information. The Borrower will furnish to the Administrative Agent: 
 (a) Annual Financial Statements. As soon as available, but
in any event in accordance with then applicable law and not later than 120 days after the end of each fiscal year of the Parent, (i) its audited consolidated balance sheet and related statements of operations, stockholders’ equity and cash
flows as of the end of and for such year, setting forth in each case in comparative form the figures for the previous fiscal year, all reported on by independent public accountants of recognized national standing (without a “going concern”
or like qualification or exception and without any qualification or exception as to the scope of such audit) to the effect that such consolidated financial statements present fairly in all material respects the financial condition and results of
operations of the Parent and its Consolidated Subsidiaries on a consolidated basis in accordance with GAAP consistently applied, (ii) a “Management’s Discussion and Analysis of Financial Condition and Results of Operations” that
would have been required to be contained in an annual report on Form 10-K (or any successor or comparable form) prepared according to SEC guidelines and (iii) data and information relating to Hydrocarbon
reserves that would have been required to be contained in an annual report on Form 10-K (or any successor or comparable form), except to the extent permitted to be excluded by the SEC, prepared according to
SEC guidelines, including Rule 4-10 of Regulation S-X, Items 302(b) and 1201-1208 or Regulation S-K and FASB ASC Topic 932. 

(b) Quarterly Financial Statements. As soon as available, but in any event in accordance with then applicable law and not later than 60
days after the end of each of the first three fiscal quarters of each fiscal year of the Parent, its consolidated balance sheet and related statements of operations, stockholders’ equity and cash flows as of the end of and for such fiscal
quarter and the then elapsed portion of the fiscal year, setting forth in each case in comparative form the figures for the corresponding period or periods of (or, in the case of the balance sheet, as of the end of) the previous fiscal year, all
certified by one of its Financial Officers as presenting fairly in all material respects the financial condition and results of operations of the Parent and its Consolidated Subsidiaries on a consolidated basis in accordance with GAAP consistently
applied, subject to normal year-end audit adjustments and the absence of footnotes. 
 (c)
Certificate of Financial Officer — Compliance. Concurrently with the delivery of each financial statement under Section 8.01(a) or Section 8.01(b), a certificate of a Financial Officer in substantially the form of Exhibit D
hereto (i) certifying as to whether a Default has occurred and, if a Default has occurred, specifying the details thereof and any action taken or proposed to be taken with respect thereto, (ii) setting forth reasonably detailed
calculations demonstrating compliance with Section 9.01, (iii) stating whether any change in GAAP or in the application thereof has occurred since the date of the Financial Statements and, if any such change has occurred, specifying the effect
of such change on the financial statements accompanying such certificate, (iv) setting forth information in reasonable detail regarding the calculation of Consolidated Net Income and EBITDAX and (v) setting forth consolidating information
that explains in reasonable detail the differences between the information relating to the Parent and its Consolidated Subsidiaries, on the one hand, and the information relating to the Borrower and its Consolidated Subsidiaries on a standalone
basis, on the other hand. 

  
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 (d) Certificate of Financial Officer – Swap Agreements. Concurrently with the
delivery of each financial statement under Section 8.01(a) or Section 8.01(b), a certificate of a Financial Officer, in form and substance satisfactory to the Administrative Agent, setting forth as of a recent date, a true and complete
list of all Swap Agreements of the Borrower or any Subsidiary, the material terms thereof (including the type, term, effective date, termination date and notional amounts or volumes), any new credit support agreements relating thereto not listed on
Schedule 7.20, any margin required or supplied under any credit support document, and the counterparty to each such agreement. 
 (e)
Certificate of Insurer — Insurance Coverage. Within 10 Business Days after any delivery of financial statements under Section 8.01(a), a certificate of insurance coverage from each insurer with respect to the insurance required by
Section 8.07, in form and substance reasonably satisfactory to the Administrative Agent, and, if requested by the Administrative Agent, all copies of the applicable policies. 

(f) SEC and Other Filings; Reports to Shareholders. Promptly after the same become publicly available, copies of all periodic and other
reports, proxy statements and other materials (other than filings under Section 16 of the Securities Exchange Act of 1934) filed by the Parent, the Borrower or any Subsidiary with the SEC, or with any national securities exchange, or
distributed by the Borrower to its shareholders generally, as the case may be. 
 (g) Notices Under Materials Instruments. Promptly
after the furnishing thereof, subject to applicable confidentiality requirements, copies of any financial statement, report or material notice furnished to or by any Person pursuant to the terms of the Second Lien Term Loan Documents, the Permitted
Refinancing Documents, any preferred stock designation, indenture, loan or credit or other similar agreement, other than this Agreement and not otherwise required to be furnished to the Lenders pursuant to any other provision of this
Section 8.01. 
 (h) Lists of Purchasers and Reserve Report Certificate. Concurrently with the delivery of any Reserve Report to
the Administrative Agent pursuant to Section 8.12, (i) a list of all Persons purchasing Hydrocarbons from the Borrower or any Subsidiary accounting for at least 90% of the revenues resulting from the sale of all Hydrocarbons in the one-year period prior to the “as-of” date of such Reserve Report and (ii) a certificate from a Responsible Officer certifying that in all material respects:
(A) the information provided by the Borrower in connection with the Reserve Report and any other information delivered in connection therewith is true and correct and any projections based upon such information have been prepared in good faith
based upon assumptions believed by the Borrower to be reasonable, subject to uncertainties inherent in all projections, (B) the Borrower or its Subsidiaries owns good and defensible title to the Oil and Gas Properties evaluated in such Reserve
Report and such Properties are free of all Liens except for Liens permitted by Section 9.03, (C) except as set forth on an exhibit to the certificate, on a net basis there are no gas imbalances, take or pay or other prepayments in excess of the
volume specified in Section 7.18 with respect to its Oil and Gas Properties evaluated in such Reserve Report which would require the Borrower or any Subsidiary to deliver Hydrocarbons either generally or produced from such Oil and Gas
Properties at some future time 

  
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without then or thereafter receiving full payment therefor, (D) none of the Borrower’s and its Subsidiaries’ Oil and Gas Properties have been sold since the date of the last
Borrowing Base determination except as set forth on an exhibit to the certificate, which certificate shall list all of their Oil and Gas Properties sold and in such detail as reasonably required by the Administrative Agent, (E) attached to the
certificate is a list of all marketing agreements entered into subsequent to the later of the Effective Date or the most recently delivered Reserve Report which the Borrower could reasonably be expected to have been obligated to list on Schedule
7.19 had such agreement been in effect on the Effective Date, (F) except as disclosed in such certificate, all of the Oil and Gas Properties evaluated by such Reserve Report are Mortgaged Property, (G) attached thereto is a schedule of the
Oil and Gas Properties evaluated by such Reserve Report that are Mortgaged Properties and demonstrating compliance with the percentage of Mortgaged Properties required by Section 8.14(a) or identifying Properties that are to become Mortgaged
Properties in accordance therewith, and (H) setting forth as of such date the Cap Amount. 
 (i) Notice of Sales of Oil and Gas
Properties and Liquidation of Swap Agreements. In the event the Borrower or any Subsidiary Disposes of any Oil or Gas Properties or any Equity Interests in any Subsidiary pursuant to Section 9.10(d), prior written notice of such
Disposition, the price thereof and the anticipated date of closing and any other details thereof requested by the Administrative Agent or any Lender. In the event that the Borrower or any Subsidiary receives any notice of early termination of any
Swap Agreement to which it is a party from any of its counterparties, or any Swap Agreement to which the Borrower or any Subsidiary is a party is Liquidated and such Liquidation would result in either (A) the Borrower not being in compliance
with Section 8.16 (tested as of the date of such Liquidation as if such date constituted a Minimum Hedging Test Date and after giving effect to any Swap Agreement that is simultaneously entered into) or (B) a Borrowing Base reduction
pursuant to Section 2.07(e), prompt written notice of the receipt of such early termination notice or such Liquidation, (and in the case of a voluntary Liquidation, no less than three (3) Business Days’ prior written notice thereof),
as the case may be, together with a reasonably detailed description or explanation thereof and any other details thereof reasonably requested by the Administrative Agent or any Lender. 

(j) Notice of Casualty Events. Prompt written notice, and in any event within three Business Days, of the occurrence of any Casualty
Event or the commencement of any action or proceeding that could reasonably be expected to result in a Casualty Event. 
 (k) Cash Flow
Budget. As soon as available and in any event no later than 90 days after the commencement of each fiscal year of the Borrower a monthly cash flow budget for such fiscal year prepared by a Financial Officer of the Borrower detailing therein,
inter alia, projected monthly net production volumes and net revenues from the Proved Reserves, general and administrative costs, operating costs and other burdens, commodity price assumptions, Taxes and budgeted capital expenditures together with a
forecasted operating budget of the Borrower for the following two years with the first of such years detailed on a monthly basis. 
 (l)
Information Regarding Borrower and Guarantors. At least 10 days’ prior written notice of any change (i) in the Borrower’s or any Guarantor’s corporate name, (ii) in the location of the Borrower or any Guarantor’s
chief executive office or principal place of business, (iii) in the Borrower’s or any Guarantor’s identity or corporate structure, organization identification number or in the jurisdiction in which such Person is incorporated or
formed, and (iv) in the Borrower’s or any Guarantor’s Federal taxpayer identification number. 

  
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 (m) Production Report and Lease Operating Statements. Within 60 days after the end of
each fiscal quarter, a report setting forth, for each calendar month during the then current fiscal year to date, the volume of production and sales attributable to production (and the prices at which such sales were made and the revenues derived
from such sales) for each such calendar month from the Oil and Gas Properties, and setting forth the related ad valorem, severance and production taxes and lease operating expenses attributable thereto and incurred for each such calendar month. 

(n) Notices of Certain Changes. Promptly, but in any event within 10 Business Days after the execution thereof, copies of any
amendment, modification or supplement to (i) the certificate or articles of incorporation, by-laws, any preferred stock designation or any other organic document of the Parent, the Borrower or any
Subsidiary, in each case, to the extent such amendment, modification or supplement could reasonably be expected to be material to the interests of the Lenders and (ii) any Effective Date Preferred Equity Document, Second Lien Term Loan Document
or any Permitted Refinancing Document. 
 (o) Notice of Bond Terminations. Promptly, but in any event within 10 Business Days after
their termination, notice of the termination of any bonds or other arrangements securing the plugging and abandonment liabilities of the Borrower or any of its Subsidiaries. 

(p) ERISA Event. Within 10 Business Days following the occurrence of any ERISA Event that, alone or together with any other ERISA
Events that have occurred, could reasonably be expected to result in liability of the Parent, the Borrower and the Subsidiaries in an aggregate amount exceeding $5,000,000. 

(q) Acquisitions. Within 5 Business Days following such, notice of the acquisition by it or any of the Subsidiaries of any real
property (or any interest in real property) having a value in excess of $5,000,000. 
 (r) PATRIOT Act. Promptly after the request by
the Administrative Agent, all documentation and other information that any Lender reasonably requests in order to comply with its ongoing obligations under applicable “know your customer” and anti-money laundering rules and regulations,
including the PATRIOT Act. 
 (s) Notices Relating to Acquisition. In the event that after the Effective Date: (i) the Borrower
is required or elects to purchase any material Acquisition Property which had been excluded from, or return any material Acquisition Property which had been included in, the Acquisition Properties in accordance with the terms of the Acquisition
Documents, (ii) the Borrower is required to honor any preferential purchase right in respect of any Acquisition Property which has not been waived, (iii) any material matter being disputed in accordance with the terms of the Acquisition
Documents is resolved or (iv) the Borrower and the seller(s) calculate and agree upon the closing adjustment statement or post-closing adjustment statement as contemplated by the Acquisition Documents, then, in each such case, the Borrower
shall promptly give the Administrative Agent notice in reasonable detail of such circumstances. 

  
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 (t) Changes to Insurance. Within 5 Business Days following such, notice of any
material modifications (including any increases to deductibles or reductions in coverage levels) to the terms of the insurance policies required pursuant to Section 8.07. 

(u) Other Requested Information. Promptly following any request therefor, such other information regarding the operations, business
affairs and financial condition of the Parent, the Borrower or any Subsidiary (including, without limitation, any Plan and any reports or other information required to be filed with respect thereto under the Code or under ERISA and the other
certificates, statements or other reports required to be delivered pursuant to this Article VIII or any abandonment study), or compliance with the terms of this Agreement or any other Loan Document, as the Administrative Agent may reasonably
request. 
 Section 8.02. Notices of Material Events. After a Responsible Officer has obtained actual knowledge thereof, the
Borrower will furnish to the Administrative Agent prompt written notice of the following: 
 (a) the occurrence of any Default; 

(b) the filing or commencement of, or the threat in writing of, any action, suit, proceeding, investigation or arbitration by or before any
arbitrator or Governmental Authority against or affecting the Parent, the Borrower or any Subsidiary thereof not previously disclosed in writing to the Lenders or any material adverse development in any action, suit, proceeding, investigation or
arbitration (whether or not previously disclosed to the Lenders) that, in either case, if adversely determined, could reasonably be expected to result in a Material Adverse Effect; 

(c) any notice of default under the Second Lien Term Loan Documents or the Permitted Refinancing Documents; 

(d) copies of written notifications to Governmental Authorities pertaining to Releases of Hazardous Materials that are required under
Environmental Law; written communications with an insurer, surety, or other financial guarantor, or Governmental Authority pertaining to material changes in the Environmental Financial Responsibility (including, without limitation, changes in the
amount of such responsibility or the Loan Parties’ financial commitment for securing such responsibility); and claims for losses submitted under the Oil Spill Financial Responsibility; and 

(e) any other development that has resulted in a Material Adverse Effect. 

Each notice delivered under this Section 8.02 shall be accompanied by a statement of a Responsible Officer setting forth in reasonable
detail of the event or development requiring such notice and any action taken or proposed to be taken with respect thereto. 

Section 8.03. Existence; Conduct of Business. Each of the Parent and the Borrower will, and will cause each Subsidiary to, do or
cause to be done all things necessary to preserve, renew and keep in full force and effect (a) its legal existence and (b) the rights, licenses, permits, privileges and franchises material to the conduct of its business and maintain, if
necessary, its qualification to do business in each other jurisdiction in which its Oil and Gas Properties are 

  
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located or the ownership of its Properties requires such qualification, except where the failure to do any of the foregoing as to clause (b) could not reasonably be expected to have a
Material Adverse Effect; provided that the foregoing shall not prohibit any merger, consolidation, liquidation, dissolution, or Disposition permitted under Section 9.09. 

Section 8.04. Payment of Obligations. Each of the Parent and the Borrower will, and will cause each Subsidiary to, pay its
obligations, including Tax liabilities of the Borrower and all of its Subsidiaries before the same shall become delinquent or in default, except where (a) the validity or amount thereof is being contested in good faith by appropriate
proceedings and the Parent, the Borrower or such Subsidiary, as applicable, has set aside on its books adequate reserves with respect thereto in accordance with GAAP or (b) the failure to make payment could not reasonably be expected to result
in (i) a Material Adverse Effect, (ii) the imposition of a Lien on Collateral not permitted hereunder or (iii) the seizure or levy of any material Property of the Parent, the Borrower or any Subsidiary. 

Section 8.05. Performance of Obligations under Loan Documents. The Borrower will pay the Loans according to the terms of this
Agreement, and the Parent and the Borrower will, and will cause each Subsidiary to, do and perform every act and discharge all of the obligations to be performed and discharged by them under the Loan Documents, including, without limitation, this
Agreement, at the time or times and in the manner specified. 
 Section 8.06. Operation and Maintenance of Properties. The
Borrower, at its own expense, will, and will cause each Subsidiary to: 
 (a) operate its Oil and Gas Properties and other material
Properties or cause such Oil and Gas Properties and other material Properties to be operated in a careful and efficient manner in accordance with the practices of the industry and in compliance with all applicable contracts and agreements and in
compliance with all Governmental Requirements, including, without limitation, applicable pro ration requirements and Environmental Laws, the rules and regulations promulgated by the Bureau of Ocean Energy Management (or any successor agency thereto)
and the Bureau of Safety and Environmental Enforcement applicable to the plugging and abandonment of the Borrower’s and its Subsidiaries’ Oil and Gas Properties, and all applicable laws, rules and regulations of every other Governmental
Authority from time to time constituted to regulate the development and operation of its Oil and Gas Properties and the production and sale of Hydrocarbons and other minerals therefrom, except, in each case, where the failure to comply could not
reasonably be expected to have a Material Adverse Effect. 
 (b) preserve, maintain and keep in good repair, working order and efficiency
(ordinary wear and tear excepted) all of its material Oil and Gas Properties described in the most recent Reserve Report, including, without limitation, all equipment, machinery and facilities, except in each case where the failure to comply could
not reasonably be expected to have a Material Adverse Effect. 
 (c) promptly pay and discharge, or make reasonable and customary efforts to
cause to be paid and discharged, all delay rentals, royalties, expenses and obligations accruing under the leases or other agreements affecting or pertaining to its Oil and Gas Properties and will do all other things necessary to keep unimpaired
their rights with respect thereto and prevent any forfeiture thereof or default thereunder, except where the failure to do so could not reasonably be expected to have a Material Adverse Effect. 

  
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 (d) promptly perform or make reasonable and customary efforts to cause to be performed, in
accordance with industry standards, the obligations required by each and all of the assignments, deeds, leases, sub-leases, contracts and agreements affecting its interests in its material Oil and Gas
Properties, except where the failure to do so could not reasonably be expected to have a Material Adverse Effect. 
 (e) to the extent the
Borrower is not the operator of any Property, the Borrower shall use commercially reasonable efforts to cause the operator to comply with this Section 8.06, but the failure of the operator to so comply will not constitute a Default or Event of
Default hereunder. 
 Section 8.07. Insurance. The Parent and the Borrower will, and will cause each Subsidiary to, maintain,
with financially sound and reputable insurance companies, insurance in such amounts and against such risks as are customarily maintained by companies engaged in the same or similar businesses operating in the same or similar locations, including
insurance against windstorm damage to the extent the same can be obtained and maintained on commercially reasonable terms and otherwise sufficient for the compliance by each of them with all material Governmental Requirements and all material
agreements. The loss payable clauses or provisions in said insurance policy or policies insuring any of the collateral for the Loans shall be endorsed in favor of the Administrative Agent as its interests may appear and such policies shall name the
Administrative Agent and the Lenders as “additional insureds” and, to the extent the insurer will agree to do so, provide that the insurer will endeavor to give at least 30 days prior notice of any cancellation to the Administrative Agent
(or ten (10) days prior notice in the event of cancellation for nonpayment of premiums). 
 Section 8.08. Books and Records;
Inspection Rights. The Borrower will, and will cause each Subsidiary to, keep proper books of record and account in which full, true and correct entries are made of all dealings and transactions in relation to its business and activities. The
Borrower will, and will cause each Subsidiary to, permit any representatives designated by the Administrative Agent or any Lender, upon reasonable prior notice, to visit and inspect its Properties, to examine and make extracts from its books and
records, and to discuss its affairs, finances and condition with its officers and independent accountants, all at such reasonable times and as often as reasonably requested. The Borrower shall bear the cost of not more than one (1) such
inspection and examination during any 12-month period unless an Event of Default then exists, in which event the Borrower shall bear such cost. 

Section 8.09. Compliance with Laws. The Parent and the Borrower will, and will cause each Subsidiary to, comply with all laws,
rules, regulations and orders of any Governmental Authority applicable to it or its Property, except where the failure to do so, individually or in the aggregate, could not reasonably be expected to result in a Material Adverse Effect. The Parent
and the Borrower will maintain and enforce policies and procedures designed to ensure compliance by the Parent, the Borrower, its Subsidiaries and their respective directors, officers, employees, agents and controlled Affiliates with Anti-Corruption
Laws, Money Laundering Laws and applicable Sanctions. The Parent and the Borrower will maintain and enforce policies and procedures designed to ensure compliance by the Parent, the Borrower, its Subsidiaries and their respective directors, officers,
employees, agents and controlled Affiliates with Anti-Corruption Laws, Money Laundering Laws and applicable Sanctions. 

  
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 Section 8.10. Environmental Matters. 

(a) The Parent and the Borrower shall, without costs to the Agents or the Lenders: (i) comply, and shall cause its Properties and
operations and each Subsidiary and each Subsidiary’s Properties and operations to comply, with all applicable Environmental Laws, the breach of which could be reasonably expected to have a Material Adverse Effect; (ii) not Release or
threaten to Release, and shall cause each Subsidiary not to Release or threaten to Release, any Hazardous Material on, under, about or from any of the Parent’s, the Borrower’s or its Subsidiaries’ Properties or any other property
offsite the Property to the extent caused by the Parent’s, the Borrower’s or any of its Subsidiaries’ operations except in compliance with applicable Environmental Laws, the Release or threatened Release of which could reasonably be
expected to have a Material Adverse Effect; (iii) timely obtain or file, and shall cause each Subsidiary to timely obtain or file, all Environmental Permits, if any, and Environmental Responsibility required under applicable Environmental Laws
to be obtained or filed in connection with the operation or use of the Parent’s, the Borrower’s or its Subsidiaries’ Properties, which failure to obtain or file could reasonably be expected to have a Material Adverse Effect;
(iv) promptly commence and diligently prosecute to completion, and shall cause each Subsidiary to promptly commence and diligently prosecute to completion, any assessment, evaluation, investigation, monitoring, containment, cleanup, removal,
repair, restoration, remediation or other remedial obligations (collectively, the “Remedial Work”) in the event any Remedial Work is required or reasonably necessary under applicable Environmental Laws because of or in connection
with the actual or suspected past, present or future Release or threatened Release of any Hazardous Material on, under, about or from any of the Parent’s, the Borrower’s or its Subsidiaries’ Properties, which failure to commence and
diligently prosecute to completion would reasonably be expected to have a Material Adverse Effect; (v) conduct, and cause its Subsidiaries to conduct, their respective operations and businesses in a manner that will not expose any Property or
Person to Hazardous Materials that would reasonably be expected to form the basis for a claim for damages or compensation that would reasonably be expected to have a Material Adverse Effect; and (vi) implement, and shall cause each Subsidiary
to implement, such procedures as may be necessary to assure that the Borrower’s and its Subsidiaries’ obligations under this Section 8.10(a) are timely and fully satisfied, which failure to establish and implement could reasonably be
expected to have a Material Adverse Effect. 
 (b) The Borrower will promptly, but in no event later than five days after obtaining
knowledge of the occurrence of a triggering event, notify the Administrative Agent and the Lenders in writing of any threatened action, investigation or inquiry by any Governmental Authority or any threatened demand or lawsuit by any Person against
the Parent, the Borrower or its Subsidiaries or their Properties in connection with any Environmental Laws if the Borrower could reasonably anticipate that such action will result in liability (whether individually or in the aggregate) in excess of
$7,500,000, not covered by insurance, subject to normal deductibles. 
 (c) The Borrower will, and will cause each Subsidiary to, provide
environmental assessments, audits and tests in accordance with good industry practices as required to be obtained by the Administrative Agent or the Lenders by any Governmental Authority, in connection with any future acquisitions of Oil and Gas
Properties or other Properties. 

  
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 (d) To the extent the Borrower or a Subsidiary is not the operator of any Property, none of
the Borrower and its Subsidiaries shall be obligated to directly perform any undertakings contemplated by the covenants and agreements contained in this Section 8.10 which are performable only by such operators and are beyond the control of the
Borrower or any of its Subsidiaries. Notwithstanding the above and except to the extent that the failure to do so could not reasonably be expected to have a Material Adverse Effect, the Borrower shall, and shall cause its Subsidiaries to, use
commercially reasonable efforts to cause the operator to comply with this Section 8.10. 
 Section 8.11. Further
Assurances. 
 (a) The Parent and the Borrower at their sole expense will, and will cause each Subsidiary to, promptly execute and
deliver to the Administrative Agent all such other documents, agreements and instruments reasonably requested by the Administrative Agent to comply with, cure any defects or accomplish the conditions precedent, covenants and agreements of the
Parent, the Borrower or any Subsidiary, as the case may be, in the Loan Documents, including the Notes, or to further evidence and more fully describe the collateral intended as security for the Secured Obligations, or to correct any omissions in
this Agreement or the Security Instruments, or to state more fully the obligations secured therein, or to perfect, protect or preserve any Liens created pursuant to this Agreement or any of the Security Instruments or the priority thereof, or to
make any recordings, file any notices or obtain any consents, all as may be reasonably necessary or appropriate, in the sole discretion of the Administrative Agent, in connection therewith. 

(b) Each of the Parent and the Borrower hereby authorizes the Administrative Agent to file one or more financing or continuation statements,
and amendments thereto, relative to all or any part of the Mortgaged Property without the signature of the Borrower or any other Guarantor where permitted by law. A carbon, photographic or other reproduction of the Security Instruments or any
financing statement covering the Mortgaged Property or any part thereof shall be sufficient as a financing statement where permitted by law. 

Section 8.12. Reserve Reports. 

(a) On or before March 15th and September
15th of each year, commencing March 15, 2017, the Borrower shall furnish to the Administrative Agent and the Lenders a Reserve Report evaluating the Oil and Gas Properties of the Borrower and
its Subsidiaries as of the immediately preceding January 1st and July 1st,. The Reserve Report as of January 1st of each year shall be prepared by one or more Approved Petroleum Engineers and the July 1st Reserve Report of each year shall be prepared by or
under the supervision of the chief engineer of the Borrower who shall certify such Reserve Report to be true and accurate and to have been prepared in accordance with the procedures used in the immediately preceding Reserve Report prepared by one or
more Approved Petroleum Engineers. It is understood that projections concerning volumes attributable to the Oil and Gas Properties and production and cost estimates contained in each Reserve Report are necessarily based upon professional opinions,
estimates and projections and that the Borrower and the Subsidiaries do not warrant that such opinions, estimates and projections will ultimately prove to have been accurate. 

  
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 (b) In the event of an Interim Redetermination, the Borrower shall furnish to the
Administrative Agent and the Lenders a Reserve Report prepared by or under the supervision of the chief engineer of the Borrower who shall certify such Reserve Report to be true and accurate and to have been prepared in accordance with the
procedures used in the immediately preceding Reserve Report. For any Interim Redetermination requested by the Administrative Agent or the Borrower pursuant to Section 2.07(b), the Borrower shall provide such Reserve Report with an “as
of” date as required by the Administrative Agent as soon as possible, but in any event no later than thirty (30) days following the receipt of such request. 

Section 8.13. Title Information. 

(a) On or before the delivery to the Administrative Agent and the Lenders of each Reserve Report required by Section 8.12(a), the
Borrower will deliver title information in form and substance reasonably acceptable to the Administrative Agent covering enough of the Oil and Gas Properties evaluated by such Reserve Report that were not included in the immediately preceding
Reserve Report, so that the Administrative Agent shall have received together with title information previously delivered to the Administrative Agent, satisfactory title information on at least 94% of the
PV-10 Value as reflected in the most recently delivered Reserve Report. 
 (b) If the Borrower has
provided title information for additional Properties under Section 8.13(a), the Borrower shall, within 60 days of notice from the Administrative Agent that title defects or exceptions exist with respect to such additional Properties, either
(i) cure any such title defects or exceptions (including defects or exceptions as to priority) which are not permitted by Section 9.03 raised by such information, (ii) substitute acceptable Mortgaged Properties with no title defects
or exceptions except for Excepted Liens (other than Excepted Liens described in clauses (e), (g), (h), (j), (l), (n) and (o) of such definition) having an equivalent value or (iii) deliver title information in form and substance acceptable
to the Administrative Agent so that the Administrative Agent shall have received, together with title information previously delivered to the Administrative Agent, satisfactory title information on at least 94% of the
PV-10 Value as reflected in the most recently delivered Reserve Report. 
 (c) If the Borrower is
unable to cure any title defect requested by the Administrative Agent or the Lenders to be cured within the 60-day period or the Borrower does not comply with the requirements to provide acceptable title
information covering 94% of the PV-10 Value as reflected in the most recently delivered Reserve Report, such default shall not be a Default, but instead the Administrative Agent and/or the Majority Lenders
shall have the right to exercise the following remedy in their sole discretion from time to time, and any failure to so exercise this remedy at any time shall not be a waiver as to future exercise of the remedy by the Administrative Agent or the
Lenders. To the extent that the Administrative Agent or the Majority Lenders are not satisfied with title to any Mortgaged Property after the 60-day period has elapsed, such unacceptable Mortgaged Property
shall not count towards the 94% requirement, and the Administrative Agent may send a notice to the Borrower and the Lenders that the then outstanding Borrowing Base shall be reduced by an amount as determined by the Required Lenders to cause the
Borrower to be in compliance with the requirement to provide acceptable title information on 94% of the PV-10 Value as reflected in the most recently delivered Reserve Report. This new Borrowing Base shall
become effective immediately after receipt of such notice. 

  
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 Section 8.14. Additional Collateral; Additional Guarantors. 

(a) In connection with each redetermination of the Borrowing Base, the Borrower shall review the Reserve Report and the list of current
Mortgaged Properties (as described in Section 8.01(h)) to ascertain whether the Mortgaged Properties represent at least 94% of the PV-10 Value as reflected in the most recently delivered Reserve Report after giving effect to exploration and
production activities, acquisitions, dispositions and production. In the event that the Mortgaged Properties do not represent at least 94% of such PV-10 Value, then the Borrower shall, and shall cause its
Subsidiaries to, grant, within thirty (30) days of delivery of the certificate required under Section 8.01(h) (or such later date as the Administrative Agent may agree), to the Administrative Agent as security for the Secured Obligations a
first-priority Lien interest (provided that, with respect to priority, Excepted Liens of the type described in clauses (a) through (d), (f), (i), (k), (m) and (p) of the definition thereof may exist, but subject to the provisos at the end
of such definition) on additional Oil and Gas Properties not already subject to a Lien of the Security Instruments such that after giving effect thereto, the Mortgaged Properties will represent not less than the minimum set forth above. All such
Liens will be created and perfected by and in accordance with the provisions of deeds of trust, mortgages, security agreements and financing statements or other Security Instruments, all in form and substance reasonably satisfactory to the
Administrative Agent and in sufficient executed (and acknowledged where necessary or appropriate) counterparts for recording purposes. In order to comply with the foregoing, if any Subsidiary places a Lien on its Oil and Gas Properties and such
Subsidiary is not a Guarantor, then it shall become a Guarantor and comply with Section 8.14(b). 
 (b) In the event that the Borrower
creates or acquires any Domestic Subsidiary, the Borrower shall promptly (and in any case within 10 Business Days, or such longer period as the Administrative Agent may reasonably agree) cause such Subsidiary to guarantee the Secured Obligations
pursuant to the Guaranty Agreement. In connection with any such guaranty, the Borrower shall, or shall cause such Subsidiary to, (i) execute and deliver a supplement to the Guaranty Agreement executed by such Subsidiary, (ii) pledge all of
the Equity Interests of such new Subsidiary (including, without limitation, delivery of original stock certificates evidencing the Equity Interests of such Subsidiary, if any, together with an appropriate undated stock powers for each certificate
duly executed in blank by the registered owner thereof) and (iii) execute and deliver such other additional closing documents, certificates and legal opinions as shall reasonably be requested by the Administrative Agent. The Borrower will cause
any Subsidiary guaranteeing any Second Lien Loans or any Permitted Refinancing Debt to contemporaneously guarantee the Secured Obligations pursuant to the Guaranty Agreement, in accordance with the foregoing requirements. 

(c) At any time during the continuation of an Event of Default, if required by the Administrative Agent, the Borrower shall, and shall cause
each of its Domestic Subsidiaries to grant to the Administrative Agent a Lien to secure the Secured Obligations on all other Oil and Gas Properties, except those assets as to which the Administrative Agent shall determine in its reasonable
discretion that the cost of obtaining a Lien or other security interest therein is excessive in relation to the value of the security to be afforded thereby. 

  
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 (d) The Borrower agrees that it will not, and will not permit any Subsidiary to, grant a
Lien on any Property to secure the Second Lien Loans without first (i) giving fifteen (15) days’ prior written notice to the Administrative Agent thereof and (ii) granting to the Administrative Agent to secure the Secured
Obligations a first-priority, perfected Lien (subject to Excepted Liens identified in clauses (a) through (d), (f), (i), (k), (m) and (p) of the definition thereof, but subject to the provisos at the end of such definition) on the same
Property pursuant to Security Instruments in form and substance reasonably satisfactory to the Administrative Agent. In connection therewith, the Borrower shall, or shall cause its Subsidiaries to, execute and deliver such other additional closing
documents, certificates and legal opinions as shall reasonably be requested by the Administrative Agent. 
 Section 8.15. ERISA
Compliance. The Parent and the Borrower will promptly furnish and will cause the Subsidiaries and any ERISA Affiliate to promptly furnish to the Administrative Agent immediately upon becoming aware of the occurrence of any non-exempt “prohibited transaction,” as described in section 406 of ERISA or in section 4975 of the Code, in connection with any Plan or any trust created thereunder, a written notice signed by the
President or the principal Financial Officer, the Subsidiary or the ERISA Affiliate, as the case may be, specifying the nature thereof, what action the Parent, the Borrower, the Subsidiary or the ERISA Affiliate is taking or proposes to take with
respect thereto, and, when known, any action taken or proposed by the Internal Revenue Service or the Department of Labor with respect thereto. 

Section 8.16. Minimum Hedging. The Borrower shall, or shall cause the other Loan Parties to, maintain in effect, as of each
Minimum Hedging Test Date, Swap Agreements with one or more Approved Counterparties, the notional volumes for which (when aggregated with other commodity hedges then in effect other than basis differential swaps on volumes already hedged pursuant to
other commodity hedges), for each month during the period during which such commodity hedging agreements are in effect, constitute at least 70% of the reasonably projected production from proved, developed, producing reserves for the first twelve
months from such Minimum Hedging Test Date, and 50% of the reasonably projected production from proved, developed, producing reserves for months 13 to 24 from such Minimum Hedging Test Date, in each case on a BOE basis. Collars and puts may be
utilized to satisfy the requirements of this Section 8.16, subject to being within 85% of the market price at the time any such transaction is executed. Notwithstanding the foregoing, “three-way
collars” may not exceed 25% of the aggregate notional volumes of hedges required pursuant to this Section 8.16 on each Minimum Hedging Test Date. 

Section 8.17. More Favorable Financial Covenants. 

(a) If, at any time after the Effective Date, any Other Debt Agreement includes one or more Additional Financial Covenants (including, for the
avoidance of doubt, as a result of any amendment, supplement, waiver or other modification to any Other Debt Agreement causing it to contain one or more Additional Financial Covenants), then (i) on or prior to the third Business Day following
the effectiveness of any such Additional Financial Covenants, the Borrower shall notify the Administrative Agent thereof, and (ii) whether or not the Borrower provides such 

  
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 notice, the terms of this Agreement shall, without any further action on the part of the Borrower, the
Administrative Agent or any Lender, be deemed to be amended automatically to include each Additional Financial Covenant in this Agreement, mutatis mutandis effective as of the date when such Additional Financial Covenant became effective under such
Other Debt Agreement. The Borrower further covenants to promptly execute and deliver at its expense an amendment to this Agreement in form and substance reasonably satisfactory to the Majority Lenders evidencing the amendment of this Agreement to
include such Additional Financial Covenants in this Agreement; provided that the execution and delivery of such amendment shall not be a precondition to the effectiveness of such amendment as provided for in this Section 8.17(a), but shall
merely be for the convenience of the parties hereto. 
 (b) If at any time after this Agreement is amended pursuant to Section 8.17(a)
to include any Additional Financial Covenant (an “Incorporated Financial Covenant”) contained in any Other Debt Agreement, such Incorporated Financial Covenant ceases to be in effect under, or is deleted from, such Other Debt Agreement, or
is amended or modified for the purposes of such Other Debt Agreement so as to become less restrictive with respect to the Borrower or any of its Subsidiaries, then (i) on or prior to the third Business Day following the effectiveness of any
such cessation, deletion, amendment or modification, the Borrower shall notify the Administrative Agent thereof, and (ii) whether or not the Borrower provides such notice, so long as no Default or Event of Default in respect of such
Incorporated Financial Covenant shall be in existence, the terms of this Agreement shall, without any further action on the part of the Borrower, the Administrative Agent or any Lender, be deemed to be amended automatically to delete such
Incorporated Financial Covenant or incorporate the same amendments or modifications to such Incorporated Financial Covenant, as applicable, mutatis mutandis effective as of the date when such Incorporated Financial Covenant ceased to be in effect
under, or was deleted from, or was amended or modified in such Other Debt Agreement, as applicable. Upon the request of the Borrower, the Majority Lenders will execute and deliver an amendment to this Agreement to delete or similarly amend or
modify, as the case may be, such Incorporated Financial Covenant as in effect in this Agreement. Notwithstanding the foregoing, no amendment to this Agreement pursuant to this Section 8.17(b) as the result of any Incorporated Financial Covenant
ceasing to be in effect or being deleted, amended or otherwise modified shall cause any covenant or Event of Default in this Agreement to be less restrictive as to the Borrower or any Subsidiary than such covenant or Event of Default as contained in
this Agreement as in effect on the Effective Date, and as amended, supplemented or otherwise modified thereafter (other than as the result of the application of Section 8.17(a)). 

Section 8.18. Accounts. 

(a) On or prior to the date that is 60 days after the Effective Date (or such later date as may be acceptable to the Administrative Agent in
its sole discretion), the Borrower shall have, and shall have caused each Subsidiary to have, caused each of its Deposit Accounts, Securities Accounts and Commodity Accounts (other than Excluded Accounts) to be subject to a Control Agreement. 

  
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 (b) From and after the date that is 60 days after the Effective Date, the Borrower shall,
and shall cause each Subsidiary to: (i) deposit or cause to be deposited directly, all Cash Receipts into one or more Deposit Accounts in which the Administrative Agent has been granted a first-priority perfected Lien and that, in each case, is
listed on Schedule 7.26 and is subject to a Control Agreement (other than amounts referred to in the definition of “Excluded Accounts”, which may be deposited in Excluded Accounts), (ii) deposit or credit or cause to be deposited or
credited directly, all securities and financial assets held or owned by (whether directly or indirectly), credited to the account of, or otherwise reflected as an asset on the balance sheet of, the Borrower and its Subsidiaries (including, without
limitation, all marketable securities, treasury bonds and bills, certificates of deposit, investments in money market funds and commercial paper) into one or more Securities Accounts in which the Administrative Agent has been granted a
first-priority perfected Lien and that is listed on Schedule 7.26 and that is subject to a Control Agreement and (iii) cause all commodity contracts held or owned by (whether directly or indirectly), credited to the account of, or otherwise
reflected as an asset on the balance sheet of, the Borrower and its Subsidiaries, to be carried or held in one or more Commodity Accounts in which the Administrative Agent has been granted a first-priority perfected Lien and that is listed on
Schedule 7.26 and that is subject to a Control Agreement. 
 Section 8.19. Consolidated Cash Balance Information. Upon the
request of the Administrative Agent on the Business Day next succeeding such request, the Borrower shall provide to the Administrative Agent, (a) a certificate of a Financial Officer in substantially the form of Exhibit I, certifying as to the
amount of the Consolidated Cash Balance and the amount of Excess Cash, if any, as of such date, and (b) attaching thereto, summary and balance statements, in a form reasonably acceptable to the Administrative Agent, for each Deposit Account,
Securities Account, Commodity Account, or other account in which any Consolidated Cash Balance is held, credited or carried. 

Section 8.20. Post-Effective Date Requirements. Within 20 Business Days after the Effective Date (or such later date as may be
reasonably agreed by the Administrative Agent), the Borrower shall either (a) deliver to the Administrative Agent evidence, reasonably satisfactory to the Administrative Agent, of the liquidation, dissolution, merger or consolidation into
Parent, the Borrower or any Subsidiary Guarantor, as applicable, of EnVen Deepwater or (b) cause EnVen Deepwater to guarantee the Secured Obligations by executing and delivering a supplement to the Guaranty Agreement in form and substance
reasonably acceptable to the Administrative Agent and, in connection therewith, execute and deliver such other additional closing documents, certificates and legal opinions as shall reasonably be requested by the Administrative Agent. 

ARTICLE IX  
 NEGATIVE
COVENANTS 
 Until the Commitments have expired or terminated and the principal of and interest on each Loan and all fees payable hereunder and all
other amounts payable under the Loan Documents have been paid in full in immediately available funds and all Letters of Credit have expired or terminated or cash collateralized and all LC Disbursements shall have been reimbursed, each of the Parent
and the Borrower covenants and agrees with the Lenders that: 
 Section 9.01. Financial Covenants. 

(a) Ratio of Total Funded Debt to EBITDAX. The Borrower will not, as of the last day of any fiscal quarter beginning with the fiscal
quarter ending December 31, 2016, permit its Leverage Ratio to be greater than 2.5 to 1.0. 

  
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 (b) Current Ratio. The Borrower will not permit, as of the last day of any fiscal
quarter ending on or after December 31, 2016, its ratio of (i) consolidated current assets (including the unused amount of the total Commitments, but excluding non-cash assets under ASC 815 and
current plugging and abandonment restricted cash) to (ii) consolidated current liabilities (excluding non-cash obligations under ASC 815, current liabilities for plugging and abandonment expense and
current maturities under this Agreement) to be less than 1.0 to 1.0. 
 (c) PDP Reserves Coverage Ratio. Solely to the extent
required by the Second Lien Credit Agreement, the Borrower will not permit the PDP Reserves Coverage Ratio, as of the last day of each fiscal year and June 30 of each fiscal year to be less than the required level specified for such period in
the Second Lien Credit Agreement. 
 (d) Notwithstanding anything to the contrary in this Agreement, in the event the Borrower fails to
comply with any financial covenant set forth in Section 9.01, the Borrower shall have the right to cure such failure to comply (the “Cure Right”) by issuing equity (other than Disqualified Capital Stock) for cash or otherwise
receiving cash contributions (a “Specified Equity Contribution”), during the period commencing on the Business Day following the last day of the most recently ended fiscal quarter of the Borrower and ending ten (10) Business
Days after the day on which financial statements are required to be delivered pursuant to Sections 8.01(a) or (b), as applicable, with respect to such fiscal quarter (such period, the “Cure Period”), and at the Borrower’s
election, such Specified Equity Contribution shall either (x) be included as a current asset or (y) either (but not both)be included in EBITDAX or be used to repay Debt, and compliance with this Section 9.01 shall be recalculated
giving effect to such adjustment for such fiscal quarter and each applicable subsequent period; provided that (i) the Borrower delivers written notice to the Administrative Agent that it has elected to cure the failure to comply and clearly
setting forth such Specified Equity Contribution in the computation required therein (which written notice may be included in the certificate required by Section 8.01(c)); (ii) such Specified Equity Contribution is received by the Borrower
during the Cure Period; (iii) in each four consecutive fiscal quarter period there shall be at least two fiscal quarters in which no Specified Equity Contribution is made and the Cure Right may not be exercised in consecutive fiscal quarters;
(iv) there shall be no more than five Specified Equity Contributions during the term of this Agreement; (v) the amount of any Specified Equity Contribution shall not exceed the amount necessary for the Borrower to be in pro forma
compliance with each of the financial covenants set forth Section 9.01 for the relevant fiscal period, as applicable; (vi) 100% of the net cash proceeds received by the Borrower from each Specified Equity Contribution will, at the
Borrower’s election, either (x) be treated as a current asset or (y) either (but not both) be counted as EBITDAX or used to repay Debt with a permanent reduction in commitments; (vii) all Cure Rights pursuant to this
Section 9.01(d) and all Specified Equity Contributions shall be disregarded for the purposes of any financial ratio determination under this Agreement other than for determining compliance with the financial covenants set forth in
Section 9.01 and for the avoidance of doubt, may not be relied on for purposes of calculating pro forma compliance with any Financial Covenants hereunder and shall not result in any adjustment to any baskets or other amounts that are based in
in whole or in part on compliance with the Financial Covenants); (viii) 

  
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upon the Administrative Agent’s receipt of a written notice from the Borrower that the Borrower intends to exercise the Cure Right (a “Notice of Intent to Cure”), until the
10th Business Day following the date on which financial statements for the fiscal quarter to which such Notice of Intent to Cure relates are required to be delivered pursuant to Section 8.01(a) or (b), as applicable, neither the Administrative
Agent (nor any sub-agent therefor) nor any Lender shall exercise any right to accelerate the Loans or terminate the Commitments, and none of the Administrative Agent (nor any
sub-agent therefor) nor any Lender shall exercise any right to foreclose on or take possession of the Collateral or any other right or remedy under the Loan Documents solely on the basis of the relevant Event
of Default having occurred and being continuing under Section 9.01 (provided that nothing in this clause (viii) shall waive any Default that exists until such recalculation). If after giving effect to such recalculation the Borrower is in
compliance with Section 9.01, the Borrower shall be deemed to have satisfied the requirements of this Section 9.01 as of the relevant date of determination with the same effect as though there had been no failure to comply therewith at
such date, and the applicable breach or default of Section 9.01 that had occurred (or would have occurred) shall be deemed cured for the purposes of this Agreement. 

Section 9.02. Debt. Neither the Parent nor the Borrower will, and will not permit any Subsidiary to, incur, create, assume or
suffer to exist any Debt, except: 
 (a) the Notes or other Secured Obligations or any guaranty of or suretyship arrangement for the Notes
or other Secured Obligations; 
 (b) Debt of the Borrower and its Subsidiaries existing on the Effective Date that is reflected in the
Financial Statements, or set forth on Schedule 9.02, any extensions, renewals or replacements of such Debt, and any Permitted Refinancing Debt in respect thereof; 

(c) purchase money Debt, Debt with respect to Synthetic Leases, and Debt under Capital Leases not to exceed $7,500,000 in the aggregate at any
time outstanding; 
 (d) Debt in respect of self-insurance obligations or bid, plugging and abandonment, appeal, reimbursement, performance,
surety and similar bonds and completion guarantees provided by the Borrower or any Subsidiary in the ordinary course of business or obligations and workers’ compensation claims in the ordinary course of business; 

(e) intercompany Debt among the Loan Parties to the extent permitted by Section 9.05(g); provided that such Debt is not held, assigned,
transferred, negotiated or pledged to any Person other than the Borrower or a Subsidiary Guarantor, and, provided further, that any such Debt owed by either the Borrower or a Subsidiary Guarantor shall be subordinated to the Secured Obligations on
terms set forth in the Guaranty Agreement; 
 (f) endorsements of negotiable instruments for collection in the ordinary course of business;

 (g) Debt under the Second Lien Loans, the original principal amount of which does not exceed $225,000,000 and under any guarantees
thereof and Permitted Refinancing Debt of such Debt; 

  
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 (h) insurance premiums if the amount financed does not exceed the premium payable for the
current policy period; 
 (i) other Debt not to exceed, in the aggregate at any one time outstanding, an amount equal to the greater of (A)
$10,000,000 or (B) 5% of the Borrowing Base in effect on the date such Debt is incurred; 
 (j) Debt arising under Cash Management
Agreements; 
 (k) Debt arising from any obligation arising from agreements of the Borrower or any Subsidiary providing for indemnification,
adjustment of purchase price, earn outs, or similar obligations, in each case, incurred or assumed in connection with the Disposition or acquisition of any business, assets or Equity Interest of a Subsidiary in a transaction permitted under this
Agreement; provided that such obligation is not reflected as a liability on the face of the balance sheet of the Borrower or any Subsidiary, and provided further that the aggregate amount of Debt incurred under Sections 9.02(k), 9.02(l) and 9.02(m)
at the time of incurrence does not exceed 7.5% of the then effective Borrowing Base; 
 (l) Debt of any Person that becomes a Subsidiary
after the Effective Date pursuant to an acquisition permitted hereby; provided that (i) such Debt exists at the time such Persons becomes a Subsidiary and is not created in contemplation of or in connection with such Person becoming a
Subsidiary, (ii) immediately before and after such Person becomes a Subsidiary, no Default or Event of Default shall have occurred and be continuing (iii) immediately after giving effect to such acquisition on a pro forma basis as if such
acquisition had been made at the beginning of the applicable four-quarter period, the Borrower would have been permitted to incur at least $1.00 of additional Debt pursuant to the Leverage Ratio test set forth in Section 9.01(a), (iv) such Debt is
unsecured and is not guaranteed by the Borrower or any other Subsidiary, (v) the maturity date of such Debt is at least six months after the Maturity Date and (vi) the aggregate amount of Debt incurred under Sections 9.02(k), 9.02(l) and
9.02(m) at the time of incurrence does not exceed 7.5% of the then effective Borrowing Base; and 
 (m) Debt of the Borrower (including Debt
incurred in connection with an acquisition permitted hereby); provided that (i) the Leverage Ratio for the Borrower’s most recently ended four full fiscal quarters for which internal financial statements are available immediately preceding
the date on which such additional Debt is incurred would have been no greater than 2.50 to 1.00, determined on a pro forma basis (including a pro forma application of the net proceeds therefrom), as if the additional Debt had been incurred at the
beginning of such four-quarter period, (ii) such Debt is unsecured, (iii) the maturity date of such Debt is at least six months after the Maturity Date and (iv) the aggregate amount of Debt incurred under Sections 9.02(k), 9.02(l) and
9.02(m) at the time of incurrence does not exceed 7.5% of the then effective Borrowing Base. 
 (n) Debt consisting of senior unsecured
notes provided that (i) no Second Lien Loans are outstanding at any time such Debt is outstanding, (ii) the aggregate principal amount of such Debt outstanding at any time does not exceed $400,000,000, (iii) such Debt does not have any
scheduled amortization prior to 180 days prior to the Maturity Date, (iv) such Debt does do not mature sooner than 180 days prior to the Maturity Date, and (v) such Debt is subject to an intercreditor agreement reasonably satisfactory to
the Majority Lenders. 

  
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 Section 9.03. Liens. Neither the Parent, nor the Borrower will, and will not
permit any Subsidiary to, create, incur, assume or permit to exist any Lien on any of its Properties (now owned or hereafter acquired), except: 

(a) Liens securing the payment of any Secured Obligations; 

(b) Excepted Liens; 
 (c) Liens
securing purchase money Debt and Capital Leases permitted by Section 9.02(c) but only on the Property and improvements and accessions thereof and proceeds thereof acquired or under lease; provided that such Liens are created within 180 days of
construction, acquisition or lease of such Property; 
 (d) Liens on Property securing the Second Lien Loans and any guaranties thereof as
permitted by Section 9.02(g); provided, however, that such Liens securing such Debt are subordinate to the Liens securing the Secured Obligations, this Agreement and the other Loan Documents pursuant to the Intercreditor Agreement; 

(e) Liens existing on the Effective Date and set forth on Schedule 9.03; provided that such Liens shall secure only those obligations which
they secure on the Effective Date and extensions, renewals and replacements thereof permitted hereunder and provided further that such Liens shall not apply to any Property other than the Property they apply to on the Effective Date; 

(f) Liens on cash collateral to secure bonds and other arrangements in place for plugging and abandonment liabilities of the Borrower and its
Subsidiaries; and 
 (g) Liens on the Property described in that certain Act of Mortgage to Secure Future Advances, Collateral Assignment
and Security Agreement by and between EnVen Opco and Shell Offshore, dated September 9, 2014 (as in effect on the Effective Date without any amendments, modifications, supplements or other changes thereto, the “Act of
Mortgage”) securing the Obligations (as defined in the Act of Mortgage); and 
 (h) Liens on Property not constituting Mortgaged
Property not otherwise permitted by the foregoing clauses of this Section 9.03; provided that the aggregate principal or face amount of all Debt secured under this Section 9.03(h) shall not exceed $7,500,000 at any time. 

Section 9.04. Dividends, Distributions and Redemptions; Repayment of Second Lien Loans. 

(a) Restricted Payments. Neither the Parent nor the Borrower will, and will not permit any Subsidiary to, declare or make, or agree to
pay or make, directly or indirectly, any Restricted Payment, return any capital to its stockholders or make any distribution of its Property to its Equity Interest holders, except: 

(i) the Borrower and any Subsidiary may declare and pay dividends with respect to its Equity Interests solely with additional
Equity Interests (other than Disqualified Capital Stock); 

  
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 (ii) any Subsidiary may declare and pay dividends to the Borrower and any
Wholly-Owned Subsidiary that is a Subsidiary Guarantor; 
 (iii) the Borrower may declare and make Restricted Payments to the
Parent so that the Parent may make Restricted Payments in an amount not to exceed (A) $5,000,000 in any fiscal year and (B) $10,000,000 in the aggregate prior to the Maturity Date, so long as before and after giving effect to such Restricted
Payment, (I) no Borrowing Base Deficiency, Event of Default or Default shall have occurred and be continuing or would result therefrom; (III) the Leverage Ratio after giving effect to such Restricted Payment is less than 1.00 to 1.00; and
(III) the outstanding principal balance of the Loans is $0; 
 (iv) so long as no Borrowing Base Deficiency, Event of
Default or Default shall have occurred and be continuing or would result therefrom, the Borrower may declare or make distributions to the Parent so that the Parent may, repurchase its Equity Interests owned by employees of the Parent, the Borrower
or the Subsidiaries or make payments to employees of the Parent, the Borrower or the Subsidiaries upon termination of employment in connection with the exercise of stock options, stock appreciation rights or similar equity incentives or equity based
incentives pursuant to management incentive plans or in connection with the death or disability of such employees; provided that the aggregate cash consideration paid for all such repurchases, redemptions and payments shall not exceed, in any fiscal
year, $1,500,000; provided, further, that any such repurchases, redemptions or payments permitted to be made (but not made) pursuant hereto in a given fiscal year may be carried forward and made in the immediately succeeding fiscal year or carried
back and made in the immediately preceding fiscal year; provided further that during an Event of Default or Borrowing Base Deficiency, any payments described in this clause may accrue and shall be permitted to be paid upon such Event of Default or
Borrowing Base Deficiency no longer existing so long as no other Event of Default or Borrowing Base Deficiency is continuing at such time; 

(v) so long as no Event of Default or Default shall have occurred and be continuing, the Parent may distribute any Equity
Interests of the Borrower to the Equity Interest holders of the Parent in connection with a Qualified Equity Offering; 

(vi) to the extent that (A) no Event of Default has occurred and is continuing or would result therefrom and (B) with
respect to any Restricted Payment made in cash, (1) no Borrowing Base Deficiency has occurred and is continuing or would result therefrom and (2) immediately after giving effect to any Restricted Payment made in cash, availability
hereunder is equal or greater than 20% of the then effective Borrowing Base, Restricted Payments in cash or 

  
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 Equity Interests (other than Disqualified Capital Stock) made by the Borrower to the Parent
at such times and in such amounts necessary to allow the Parent to make scheduled payments of dividends required by the Effective Date Preferred Equity Documents as in effect as of the Effective Date without giving effect to any amendments,
modifications, supplements or other changes thereto, and corresponding payments by Parent to the holders of the Effective Date Preferred Equity; 

(vii) to the extent that no Event of Default or Borrowing Base Deficiency has occurred and is continuing or would result
therefrom, the Borrower may make Permitted Tax Distributions; and 
 (viii) so long as no Event of Default or Default shall
have occurred and be continuing, the Parent may purchase, redeem, retire, acquire, cancel or terminate any Equity Interests in the Parent or any option, warrant or other right to acquire Equity Interests in the Parent with the net proceeds of any
sale of Equity Interests (other than Disqualified Capital Stock) in the Parent. 
 (b) Redemption of Second Lien Loans; Amendment of
Second Lien Term Loan Documents. The Borrower will not, and will not permit any Subsidiary to: 
 (i) call, make or offer
to make any optional or voluntary prepayment or redemption of or otherwise optionally or voluntarily redeem or prepay (whether in whole or in part) the Second Lien Loans or any permitted Refinancing Debt in respect thereof; provided that the
Borrower may redeem or prepay the Second Lien Loan: 
  

	 	(A)	 with the proceeds of any Permitted Refinancing Debt, 

 

	 	(B)	 with the net proceeds of any sale of Equity Interests (other than Disqualified Capital Stock) of the Borrower
or 

  

	 	(C)	 so long as 

  

	 	(I)	 no Event of Default or Default shall have occurred and be continuing or would result therefrom,

  

	 	(II)	 the Leverage Ratio after giving effect to such Restricted Payment is less than 1.00 to 1.00, and

  

	 	(III)	 Availability under this Agreement after giving effect to such Restricted Payment is not less than the greater
of (1) $40,000,000 and (2) 35% of the then effective Borrowing Base (as adjusted for the relevant prepayment of the Second Lien Loans), the Borrower may prepay the Second Lien Loans in an amount not to exceed (x) $5,000,000 in any fiscal

  
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	 	year and $10,000,000 in the aggregate prior to the expiration of this Agreement and (y) the net cash proceeds of asset sales or other dispositions of property permitted to be retained by the Borrower under the
Second Lien Term Loan Agreement; provided that the caps on distributions in clause (x) of this Section 9.04(b)(i)(C) apply to the aggregate of redemptions and prepayments made under this Section 9.04(b)(i)(C) during such period and
provided further that the aggregate of such redemptions or prepayments made under this Section 9.04(b)(i)(C) may not exceed $50,000,000 during the term of this Agreement; or 

(ii) amend, modify, waive or otherwise change, consent or agree to any amendment, modification, waiver or other change to, any
of the terms of the Second Lien Term Loan Agreement in a manner that contravenes the Intercreditor Agreement (provided that the Borrower complies with Section 8.14(b) and (d), if applicable). 

Section 9.05. Investments, Loans and Advances. Neither the Parent nor the Borrower will, and will not permit any Subsidiary to,
make or permit to remain outstanding any Investments in or to any Person, except that the foregoing restriction shall not apply to: 
 (a)
Investments reflected in the Financial Statements or which are disclosed to the Lenders in Schedule 9.05; 
 (b) accounts receivable arising
in the ordinary course of business; 
 (c) Investments in cash and Cash Equivalents and Investments in assets that were Cash Equivalents
when such Investment was made; 
 (d) Investments (i) made by the Parent in or to the Borrower or any Subsidiary Guarantor,
(ii) made by the Borrower in or to any Person that, prior to such Investment, is a Subsidiary Guarantor and (iii) made by any Subsidiary in or to the Borrower or any Person that, prior to such Investment, is a Subsidiary Guarantor; 

(e) Investments (including, without limitation, capital contributions) in general or limited partnerships or other types of entities (each a
“venture”) entered into by the Borrower or a Subsidiary with others in the ordinary course of business; provided that (i) any such venture is engaged exclusively in oil and gas exploration, development, production, processing and
related activities, including transportation, (ii) the interest in such venture is acquired in the ordinary course of business, and (iii) such venture interests acquired and capital contributions made (valued as of the date such interest
was acquired or the contribution made) do not exceed, in the aggregate at any time outstanding an amount equal to the greater of (A) $10,000,000 or (B) 5% of the Borrowing Base in effect on the date such Investment was made; 

  
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 (f) loans or advances to employees, officers or directors in the ordinary course of business
of the Borrower or any of its Subsidiaries, in each case only as permitted by applicable law, including Section 402 of the Sarbanes-Oxley Act of 2002, but in any event not to exceed $1,500,000 in the aggregate outstanding at any time; 

(g) Investments received in settlement of debts (either arising in the ordinary course of business or from Investments permitted under this
Section 9.05) owing to the Borrower or any Subsidiary as a result of a bankruptcy or other insolvency proceeding of the obligor in respect of such debts, a settlement of delinquent accounts or disputes with customers or suppliers, or upon the
enforcement of any Lien in favor of the Borrower or any of its Subsidiaries; 
 (h) guarantees by the Borrower and any Guarantor (other than
the Parent) of Debt permitted by Section 9.02; 
 (i) guarantees by the Borrower or any Guarantor of obligations that do not constitute
Debt to the extent entered into in the ordinary course of business; 
 (j) Investments arising from the endorsement of financial instruments
in the ordinary course of business; 
 (k) Investments in the form of or pursuant to operating agreements, processing agreements, farm in
agreements, farm-out agreements, developments agreements, area of mutual interest agreements, unitization agreements, pooling agreements, joint bidding agreements, and service contracts, in each case, in the
ordinary course of business; 
 (l) other Investments not to exceed, in the aggregate at any time outstanding, an amount equal to the
greater of (A) $10,000,000 or (B) 5% of the Borrowing Base in effect on the date such Investments are made; 
 (m) Investments arising out
of the receipt by the Borrower or any Subsidiary of noncash consideration for the sale of assets permitted under Section 9.10; 
 (n)
Investments of a Subsidiary acquired after the Effective Date or of a Person merged into any Loan Party in accordance with Section 9.09 after the Effective Date to the extent that such Investments were not made in contemplation of or in
connection with such acquisition, merger or consolidation and were in existence on the date of such acquisition, merger or consolidation; 

(o) Swap Agreements permitted under this Agreement; and 

(p) Permitted Acquisitions. 

Section 9.06. Nature of Business; International Operations. Neither the Parent, nor the Borrower will, and they will not permit
any Subsidiary to, allow any material change to be made in the character of its business as an independent oil and gas exploration and production company. From and after the Effective Date, none of the Parent, the Borrower or any Subsidiary will
acquire or make any other expenditure (whether such expenditure is capital, operating or otherwise) in or related to, any Oil and Gas Properties not located within the geographical boundaries of the United States of America and the outer continental
shelf adjacent thereto and subject to the jurisdiction of the United States of America. 

  
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 Section 9.07. Proceeds of Loans. Neither the Parent nor the Borrower will permit
the proceeds of the Loans to be used for any purpose other than as provided in Section 7.21. Neither the Borrower nor any Person acting on behalf of the Borrower has taken or will take any action which might cause any of the Loan Documents to
violate Regulations U or X or any other regulation of the Board or to violate Section 7 of the Exchange Act or any rule or regulation thereunder, in each case as now in effect or as the same may hereinafter be in effect. If requested by the
Administrative Agent, the Borrower will furnish to the Administrative Agent and each Lender a statement to the foregoing effect in conformity with the requirements of FR Form U-1 or such other form referred to
in Regulation U, Regulation T or Regulation X of the Board, as the case may be. The Borrower will not request any Borrowing or Letter of Credit, and the Borrower shall not use, and shall procure that the Subsidiaries and its or their respective
directors, officers, employees and agents shall not use, the proceeds of any Borrowing or Letter of Credit in violation of Section 7.24. 

Section 9.08. Sale or Discount of Receivables. Except for receivables obtained by the Borrower or any Subsidiary out of the
ordinary course of business or the settlement of joint interest billing accounts in the ordinary course of business or discounts granted to settle collection of accounts receivable or the sale of defaulted accounts arising in the ordinary course of
business in connection with the compromise or collection thereof and not in connection with any financing transaction, neither the Parent, nor the Borrower will, and will not permit any Subsidiary to, discount or sell (with or without recourse) any
of its notes receivable or accounts receivable. 
 Section 9.09. Mergers, Etc. Neither the Parent nor the Borrower will, and
will not permit any Subsidiary to, merge into or with or consolidate with any other Person, or permit any other Person to merge into or consolidate with it, or Dispose of (whether in one transaction or in a series of transactions) all or
substantially all of its Property to any other Person (whether now owned or hereafter acquired) (any such transaction, a “consolidation”), or liquidate or dissolve; provided that the following shall be permitted: 

(a) any Subsidiary may participate in a consolidation with the Borrower (provided that the Borrower shall be the continuing or surviving
corporation) or any other Subsidiary that is a Domestic Subsidiary (provided that if one of such Subsidiaries is a Wholly-Owned Subsidiary, then the surviving Person shall be a Wholly-Owned Subsidiary); 

(b) any Person (that is not a Subsidiary) may participate in a consolidation with the Borrower (provided that the Borrower shall be the
continuing or surviving Person) or a Guarantor (provided that the surviving Person shall be a Guarantor); 
 (c) any Subsidiary may
liquidate or dissolve if (i) the continued existence and operation of such Subsidiary is no longer in the best interests of the Borrower and its Subsidiaries taken as a whole (as determined by a Responsible Officer of the Borrower), (ii) such
liquidation and dissolution is not disadvantageous in any material respect to the Lenders, (iii) at the time thereof and immediately after giving effect thereto, no Default shall occur and be continuing and no Borrowing Base Deficiency would
result therefrom, and (iv) the assets of such Subsidiary are distributed to the Borrower or another Subsidiary (or if such Subsidiary is a Guarantor, to another Guarantor) or are otherwise Disposed of in accordance with Section 9.10; 

  
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 (d) any Disposition permitted by Section 9.10; 

(e) a Permitted Acquisition (subject to compliance with clause (b) of this Section 9.09); and 

(f) any Disposition of Equity Interests of the Borrower permitted by Section 9.04(a)(vi). 

Section 9.10. Sale of Properties. Neither the Parent nor the Borrower will, and will not permit any Subsidiary to, Dispose of any
Property or any interest therein (including within such prohibition transfers and Dispositions of overriding royalty interests, production payments, net profits interests and any other interests payable out of or measured by production or the
proceeds of production) or any Subsidiary owning any such Oil and Gas Property, other than: 
 (a) sales of Hydrocarbons in the ordinary
course of business and sales and transfers of obsolete, worn-out, surplus or uneconomic equipment in the ordinary course of business; 

(b) so long as no Event of Default then exists or would result from such action, farmouts and leases of any of the Oil and Gas Properties not
included in the determination of the then current Borrowing Base, so long as such farmouts and leases are in the ordinary course of business and on terms customary in the industry; 

(c) Disposition of any Investments permitted under Sections 9.05(a), 9.05(c), 9.05(e), 9.05(g), 9.05(j) (but only to the extent they are of
the type permitted in Sections 9.05(a), 9.05(c), 9.05(e), 9.05(g), 9.05(k) and 9.05(m)), 9.05(k) and 9.05(m); 
 (d) Dispositions (including
farmouts) of any Oil and Gas Properties or any interest therein or Equity Interests of any Subsidiary owning Oil and Gas Properties; provided that: (i) 85% of the consideration received in respect of such Disposition of any such Oil and Gas Property
or Equity Interests shall be cash and any portion of the non-cash consideration received (to the extent constituting an Investment) is permitted under Section 9.05 and pledged as collateral to secure the
Secured Obligations; provided further that if a Borrowing Base Deficiency exists at such time 100% of such consideration shall be cash, (ii) no Event of Default has occurred and is continuing at the date of such sale or other Disposition and no
Event of Default would result therefrom, (iii) if the consideration received in respect of such Disposition shall be equal to or greater than the fair market value of the Oil and Gas Property, interest therein or Subsidiary subject of such sale
or other Disposition (as reasonably determined by the board of managers of the Borrower and, if requested by the Administrative Agent, the Borrower shall deliver a certificate of a Responsible Officer of the Borrower certifying to that effect), (iv)
the Borrowing Base shall be reduced to the extent required by Section 2.07(e) and (v) if any such Disposition is of Equity Interests in a Subsidiary owning Oil and Gas Properties, such sale or other Disposition shall include all the Equity
Interests of such Subsidiary; 

  
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 (e) Dispositions of claims against customers, working interest owners, other industry
partners or any other Person in connection with workouts or bankruptcy, insolvency or other similar proceedings with respect thereto; 
 (f)
Dispositions of funds collected for the beneficial interest of, or of the interests owned by, royalty, overriding royalty or working interest owners; 

(g) transfers between the Borrower and a Subsidiary or between Subsidiaries; provided that (i) with respect to any transfers of Equity
Interests in any Subsidiaries of the Borrower, the requirements of Section 8.14(b) are satisfied and (ii) with respect to any transfer of Proved Reserves, (A) the transferee delivers mortgages or other Security Instruments in favor of
the Administrative Agent substantially contemporaneously with such transfer, so that after giving effect thereto, the Loan Parties are in compliance with Section 8.14(a), (B) before and immediately after giving effect to such Disposition, no
Default or Event of Default exists or would exist and (C) if any Property to be Disposed of in reliance on this Section 9.10(g)(ii) is subject to a Lien securing any of the Secured Obligations, then, such Disposition shall only be
permitted to the extent that the Administrative Agent determines in its sole discretion that such Disposition would not adversely affect or impair the validity, perfection or priority of such Lien (after taking into account any relevant facts or
circumstances, including any release of Lien on such Property in connection with such Disposition, any perceived preference or fraudulent conveyance risk, the existence of any junior Liens on such Property, and any actions to be taken prior to or
simultaneously with such Disposition by the Borrower and its Subsidiaries, including the execution and delivery of such Security Instruments satisfactory to the Administrative Agent as are requested by the Administrative Agent to create and perfect
a Lien on such Property in favor of the Administrative Agent to at least the same extent and having the same priority as the Lien on such Property immediately prior to such Disposition); 

(h) Dispositions of Properties not regulated by Section 9.10(a) to (d) having a fair market value not to exceed $3,000,000 during
any 6-month period; and 
 (i) Dispositions of Equity Interests of the Borrower permitted under
Section 9.04(a)(vi). 
 Notwithstanding anything to the contrary herein contained, the Parent and the Borrower shall, or shall cause its Subsidiaries to,
use the net cash proceeds, if any, of any Disposition made while a Borrowing Base Deficiency exists to eliminate such Borrowing Base Deficiency (or reduce such Borrowing Base Deficiency to the extent such net cash proceeds are not sufficient to
eliminate such Borrowing Base Deficiency); provided that the Borrower will not be required to so apply the net cash proceeds from the sale or transfer of the property or assets securing any secured Debt permitted by Section 9.03(c) or
(d) to the extent such net cash proceeds are applied to discharge such Debt. 
 Section 9.11. Transactions with Affiliates.
Neither the Parent nor the Borrower will, and will not permit any Subsidiary to, enter into any transaction, including, without limitation, any purchase, sale, lease or exchange of Property or the rendering of any service, with any Affiliate (other
than the Guarantors and Wholly-Owned Subsidiaries of the Borrower or any portfolio company of a Permitted Holder who is an Affiliate of that Permitted Holder); provided, 

  
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however, that the foregoing restrictions will not apply to (a) transactions that are not otherwise prohibited under this Agreement and are upon fair and reasonable terms no less favorable to
it than it would obtain in a comparable arm’s length transaction with a Person not an Affiliate, (b) reasonable and customary fees paid to members of the board of directors (or similar governing body) of the Parent, the Borrower and its
Subsidiaries, (c) indemnification, benefit, compensation and other employment arrangements and agreements for directors, officers and other employees of the Parent, the Borrower and its Subsidiaries entered into in the ordinary course of
business, (d) transactions permitted by Section 9.04(a), (e) transactions set forth on Schedule 9.11, and (f) the Specified Affiliate Transactions.  

Section 9.12. Negative Pledge Agreements; Dividend Restrictions. Neither the Parent nor the Borrower will, and will not permit any
Subsidiary to, create, incur, assume or suffer to exist any contract, agreement or understanding which in any way prohibits or restricts the granting, conveying, creation or imposition of any Lien on any of its material Property in favor of the
Administrative Agent and the Lenders or restricts any Subsidiary from paying dividends or making distributions to the Borrower or any Guarantor, or which requires the consent of or notice to other Persons in connection therewith; provided, however,
that the preceding restrictions will not apply to encumbrances or restrictions arising under or by reason of (i) this Agreement, the Security Instruments or the Second Lien Loan Documents, (ii) Liens permitted by Section 9.03(c) (but
only to the extent related to the Property on which such Liens were created), (iii) any leases or licenses or similar contracts as they affect any Property or Lien subject to a lease or license or similar contract, (iv) any restriction with
respect to the Parent, the Borrower or a Subsidiary imposed pursuant to an agreement entered into for the direct or indirect sale or Disposition of the Property of the Parent, the Borrower or such Subsidiary or all or substantially all the equity of
a Subsidiary (or the Property that is subject to such restriction) pending the closing of such sale or Disposition, (v) customary provisions with respect to the distribution of Property in joint venture agreements or (vi) restrictions in
respect of Indebtedness permitted by Section 9.02(l). 
 Section 9.13. Gas Imbalances, Take-or-Pay or Other Prepayments. Neither the Parent nor the Borrower will, and will not permit any Subsidiary to, allow gas imbalances,
take-or-pay or other prepayments with respect to the Oil and Gas Properties of the Parent, the Borrower or any Subsidiary that would require the Parent, the Borrower or
such Subsidiary to deliver Hydrocarbons at some future time without then or thereafter receiving full payment therefor exceeding five percent (5.0%) or more of the monthly production of Hydrocarbons produced from such Oil and Gas Properties in the
aggregate. 
 Section 9.14. Swap Agreements. Neither the Parent, nor the Borrower will, and will not permit any Subsidiary to,
enter into any Swap Agreements with any Person other than (a) Swap Agreements in respect of commodities (i) with an Approved Counterparty, (ii) which do not have a tenor of longer than forty-eight (48) months and (iii) the
notional volumes for which (when aggregated with other commodity Swap Agreements then in effect other than basis differential swaps on volumes already hedged pursuant to other Swap Agreements) do not exceed, as of the date such Swap Agreement is
executed, (A) for the months of December through July, 85% and (B) for the months of August to November 70%, in each case, of the reasonably anticipated projected production from proved, developed, producing Oil and Gas Properties for each
month during the period during which such Swap Agreement is in effect for each of crude oil, natural 

  
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gas liquids and natural gas, calculated separately, and (b) Swap Agreements in respect of interest rates with an Approved Counterparty as follows: (i) Swap Agreements effectively
converting interest rates from fixed to floating, the notional amounts of which (when aggregated with all other Swap Agreements of the Borrower and its Subsidiaries then in effect effectively converting interest rates from fixed to floating) do not
exceed 100% of the then outstanding principal amount of the Borrower’s Debt for borrowed money which bears interest at a fixed rate and (ii) Swap Agreements effectively converting interest rates from floating to fixed, the notional amounts
of which (when aggregated with all other Swap Agreements of the Borrower and its Subsidiaries then in effect effectively converting interest rates from floating to fixed) do not exceed 100% of the then outstanding principal amount of the
Borrower’s Debt for borrowed money which bears interest at a floating rate. 
 Section 9.15. Marketing Activities. Neither
the Parent nor the Borrower will, and will not permit any of its Subsidiaries to, engage in marketing activities for any Hydrocarbons or enter into any contracts related thereto other than (i) contracts for the sale of Hydrocarbons scheduled or
reasonably estimated to be produced from their proved Oil and Gas Properties during the period of such contract, (ii) contracts for the sale of Hydrocarbons scheduled or reasonably estimated to be produced from proved Oil and Gas Properties of
third parties during the period of such contract associated with the Oil and Gas Properties of the Borrower and its Subsidiaries that the Borrower or one of its Subsidiaries has the right to market pursuant to joint operating agreements, unitization
agreements or other similar contracts that are usual and customary in the oil and gas business and (iii) other contracts for the purchase and/or sale of Hydrocarbons of third parties (A) which have generally offsetting provisions (i.e.,
corresponding pricing mechanics, delivery dates and points and volumes) such that no “position” is taken and (B) for which appropriate credit support has been taken to alleviate the material credit risks of the counterparty thereto.

 Section 9.16. Sale and Leasebacks. Enter into any arrangement with any Person providing for the leasing by the Parent, the
Borrower or any of their Subsidiaries of real or personal property that has been or is to be sold or transferred by the Parent, the Borrower or any such Subsidiary, as applicable, to such Person or to any other Person to whom funds have been or are
to be advanced by such Person on the security of such property or rental obligations of the Parent, the Borrower or any such Subsidiary, as applicable. 

Section 9.17. Fiscal Year. Neither Parent nor the Borrower will change its fiscal year end to a date other than December 31. 

Section 9.18. New Accounts. Without the prior written consent of the Administrative Agent, the Borrower will not, and will not
permit any Subsidiary to, open or otherwise establish, or deposit, credit or otherwise transfer any Cash Receipts, securities, financial assets or any other property into, any Deposit Account, Securities Account or Commodity Account other than
(a) any Deposit Account, Securities Account and Commodity Account listed on Schedule 7.26 in which the Administrative Agent has been granted a first-priority perfected Lien and that, in each case, is subject to a Control Agreement or
(b) any Excluded Account (solely with respect to amounts referred to in the definition thereof). 

  
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 Section 9.19. Passive Holding Company Status of Parent. The Parent shall not
engage in any material operating or business activities other than the following (and activities incidental thereto): (a) its ownership of the Equity Interests of the Borrower and its indirect ownership (via the Borrower) of the Subsidiaries of the
Borrower, (b) the maintenance of its legal existence (including the ability to incur fees, costs and expenses relating to such maintenance) and compliance with applicable laws, (c) the performance of its obligations with respect to the
Loan Documents and the documentation governing other permitted Debt to which it is a party , (d) any public offering of its common stock or any other issuance or sale of its Equity Interests (in each case to the extent permitted by
Section 9.04(a)), (e) payment of taxes, dividends (to the extent permitted by Section 9.04(a)) and making contributions to the capital of the Loan Parties (to the extent permitted by Section 9.05), (f) participating in legal, tax,
accounting and other administrative matters as a member of the consolidated group of the Parent and its subsidiaries or the making and filing of any reports required by Governmental Authority, (g) the making or receiving of Restricted Payments
permitted hereunder, (h) holding any cash incidental to any activities permitted under this Section 9.19, (i) providing indemnification to officers, managers and directors, (j) carrying out its obligations as the sole managing member
of the Borrower, (k) managing, through its board, directors, officers and managers, the business of Borrower and its Subsidiaries and (l) any other activities incidental to the foregoing or customary for passive holding companies. For the
avoidance of doubt, the Parent shall not (i) incur or suffer to exist any Liens other than the Liens permitted by Sections 9.03(a) and (d) or incur or suffer to exist any Debt other than the Debt permitted by Sections 9.02(a) and
(g) or (ii) form, acquire or directly own any Subsidiary other than Borrower. 
 ARTICLE X  

EVENTS OF DEFAULT; REMEDIES 

Section 10.01. Events of Default. One or more of the following events shall constitute an “Event of Default”:

 (a) the Borrower shall fail to pay any principal of any Loan or any reimbursement obligation in respect of any LC Disbursement when and as
the same shall become due and payable, whether at the due date thereof or at a date fixed for prepayment thereof, by acceleration or otherwise; 

(b) the Borrower shall fail to pay any interest on any Loan or any fee or any other amount (other than an amount referred to in
Section 10.01(a)) payable under any Loan Document, when and as the same shall become due and payable, and such failure shall continue unremedied for a period of three Business Days; 

(c) any representation or warranty made or deemed made by or on behalf of the Parent, the Borrower or any Subsidiary in or in connection with
any Loan Document or any amendment or modification of any Loan Document or waiver under such Loan Document, or in any report, certificate, financial statement or other document furnished pursuant to or in connection with any Loan Document or any
amendment or modification thereof or waiver thereunder, shall prove to have been incorrect in any material respect when made or deemed made (unless such representation or warranty was already qualified by materiality, in which case such
representation or warranty shall simply have been true and correct); 

  
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 (d) the Parent, the Borrower or any Subsidiary shall fail to observe or perform any
covenant, condition or agreement contained in Section 8.01(n) or (o), Section 8.02, Section 8.03, Section 8.12, Section 8.14, Section 8.16, Section 8.17, Section 8.18, Section 8.19 or in Article IX; 

(e) the Parent, the Borrower or any Subsidiary shall fail to observe or perform any covenant, condition or agreement contained in this
Agreement (other than those specified in Section 10.01(a), Section 10.01(b) or Section 10.01(d)) or any other Loan Document, and such failure shall continue unremedied for a period of 30 days after the earlier to occur of
(A) notice thereof from the Administrative Agent to the Borrower (which notice will be given at the request of any Lender) or (B) a Responsible Officer of the Borrower or such Subsidiary otherwise becoming aware of such default; provided,
however, that if the Borrower fails to deliver any financial statements, certificates or other information within the time period required by Sections 8.01, 8.02, 8.11 or 8.13 and subsequently delivers such financial statements, certificates or
other information as required by such Sections prior to acceleration or the exercise of any remedy by the Lenders, then such Event of Default shall be deemed to have been cured without any further action by the Administrative Agent or Lenders; 

(f) the Parent, the Borrower or any Subsidiary shall fail to make any payment (whether of principal or interest and regardless of amount) in
respect of any Material Indebtedness, when and as the same shall become due and payable; 
 (g) any event or condition occurs that
(i) results in any Material Indebtedness becoming due prior to its scheduled maturity or (ii) either enables or permits (with or without the giving of notice, the lapse of time, or both) the holder or holders thereof or any trustee or
agent on its or their behalf to cause such Material Indebtedness to become due or require the Parent, the Borrower or any Subsidiary to make an offer to redeem in respect thereof prior to its scheduled maturity; 

(h) an involuntary proceeding shall be commenced or an involuntary petition shall be filed seeking (i) liquidation, reorganization or
other relief in respect of the Parent, the Borrower or any Material Subsidiary or its debts, or of a substantial part of its assets, under any Federal, state or foreign bankruptcy, insolvency, receivership or similar law now or hereafter in effect
or (ii) the appointment of a receiver, trustee, custodian, sequestrator, conservator or similar official for the Parent, the Borrower or any Material Subsidiary or for a substantial part of its assets, and, in any such case, such proceeding or
petition shall continue undismissed for 60 days or an order or decree approving or ordering any of the foregoing shall be entered; 
 (i)
the Parent, the Borrower or any Material Subsidiary shall (i) voluntarily commence any proceeding or file any petition seeking liquidation, reorganization or other relief under any Federal, state or foreign bankruptcy, insolvency, receivership
or similar law now or hereafter in effect, (ii) consent to the institution of, or fail to contest in a timely and appropriate manner, any proceeding or petition described in Section 10.01(h), (iii) apply for or consent to the appointment
of a receiver, trustee, custodian, sequestrator, conservator or similar official for the 

  
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Borrower or any Material Subsidiary or for a substantial part of its assets, (iv) file an answer admitting the material allegations of a petition filed against it in any such proceeding,
(v) make a general assignment for the benefit of creditors or (vi) take any action for the purpose of effecting any of the foregoing; or a meeting of the stockholders of the Borrower to consider a resolution to dissolve and wind-up the Borrower’s affairs shall be called; 
 (j) the Parent, the Borrower or any Material
Subsidiary shall become unable, admit in writing its inability or fail generally to pay its debts as they become due; 
 (k) one or more
judgments for the payment of money in an aggregate amount in excess of the lesser of (i) greater of (A) $10,000,000 or (B) 5% of the then effective Borrowing Base and (ii) $20,000,000 (to the extent not covered by independent third party
insurance as to which the insurer does not dispute coverage and is not subject to an insolvency proceeding) shall be rendered against the Parent, the Borrower, any Material Subsidiary or any combination thereof and the same shall remain undischarged
for a period of 60 consecutive days during which execution shall not be effectively stayed, or any action shall be legally taken by a judgment creditor to attach or levy upon any assets of the Parent, the Borrower or any Subsidiary to enforce any
such judgment; 
 (l) the Loan Documents after delivery thereof shall for any reason, except to the extent permitted by the terms thereof,
cease to be in full force and effect and valid, binding and enforceable in accordance with their terms against the Borrower or a Guarantor party thereto or shall be repudiated by any of them, or cease to create a valid and perfected Lien of the
priority required thereby on any of the collateral purported to be covered thereby, except to the extent permitted by the terms of this Agreement, or the Parent, the Borrower or any Subsidiary or any of their Affiliates shall so state in writing;

 (m) the Intercreditor Agreement, after delivery thereof shall for any reason, except to the extent permitted by the terms thereof, ceases
to be in full force and effect and valid, binding and enforceable in accordance with its terms against the Borrower or any party thereto or shall be repudiated in writing by the Parent, the Borrower or any Subsidiary, or any payment by the Borrower
or any Guarantor is made in violation of the terms of the Intercreditor Agreement; 
 (n) a Change in Control shall occur; or 

(o) an ERISA Event shall have occurred that, when taken together with all other ERISA Events that have occurred, results in a Material Adverse
Effect. 
 Section 10.02. Remedies. 

(a) In the case of an Event of Default other than one described in Section 10.01(h), Section 10.01(i) or Section 10.01(j), at
any time thereafter during the continuance of such Event of Default, the Administrative Agent may, and at the request of the Majority Lenders, shall, by notice to the Borrower, take either or both of the following actions, at the same or different
times: (i) terminate the Commitments, and thereupon the Commitments shall terminate immediately, and (ii) declare the Notes and the Loans then outstanding to be due and payable in whole (or in part, in which case any principal not so
declared to be due and payable may thereafter be declared to be due and payable), and thereupon the principal of the Loans so 

  
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declared to be due and payable, together with accrued interest thereon and all fees and other obligations of the Borrower and the Guarantors accrued hereunder and under the Notes and the other
Loan Documents (including, without limitation, the payment of cash collateral to secure the LC Exposure as provided in Section 2.08(j)), shall become due and payable immediately, without presentment, demand, protest, notice of intent to
accelerate, notice of acceleration or other notice of any kind, all of which are hereby waived by the Borrower and each Guarantor; and in case of an Event of Default described in Section 10.01(h), Section 10.01(i) or Section 10.01(j),
the Commitments shall automatically terminate and the Notes and the principal of the Loans then outstanding, together with accrued interest thereon and all fees and the other obligations of the Borrower and the Guarantors accrued hereunder and under
the Notes and the other Loan Documents (including, without limitation, the payment of cash collateral to secure the LC Exposure as provided in Section 2.08(j)), shall automatically become due and payable, without presentment, demand, protest,
notice of intent to accelerate, notice of acceleration, or other notice of any kind, all of which are hereby waived by the Borrower and each Guarantor. 

(b) In the case of the occurrence of an Event of Default, the Administrative Agent and the Lenders will have all other rights and remedies
available at law and equity. 
 (c) All proceeds realized from the liquidation or other disposition of collateral or otherwise received
after maturity of the Notes, whether by acceleration or otherwise, shall be applied: 
 (i) first, to payment or
reimbursement of that portion of the Secured Obligations constituting fees, expenses and indemnities payable to the Administrative Agent in its capacity as such; 

(ii) second, pro rata to payment or reimbursement of that portion of the Secured Obligations constituting fees, expenses
and indemnities payable to the Lenders; 
 (iii) third, pro rata to payment of accrued interest on the Loans; 

(iv) fourth, pro rata to payment of principal outstanding on the Loans and Secured Obligations referred to in Clauses
(b) and (c) of the definition of Secured Obligations owing to each Person to whom a Secured Obligation is owed; 
 (v)
fifth, pro rata to any other Secured Obligations; 
 (vi) sixth, to serve as cash collateral to be held by the
Administrative Agent to secure the LC Exposure; and 
 (vii) seventh, any excess, after all of the Secured Obligations
shall have been indefeasibly paid in full in cash, shall be paid to the Borrower or as otherwise required by any Governmental Requirement. 

  
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 provided that, for the avoidance of doubt, the Excluded Swap Obligations of the Borrower or any Guarantor
shall not be paid with amounts received from such Person or its assets, but appropriate adjustments shall be made with respect to payments from the Borrower and any other Guarantors, as applicable, to preserve the allocation to Secured Obligations
otherwise set forth above in this Section 10.02(c). 
 ARTICLE XI  

THE AGENTS 

Section 11.01. Appointment; Powers. Each of the Lenders and the Issuing Bank hereby irrevocably appoints the Administrative Agent
as its agent and authorizes the Administrative Agent to take such actions on its behalf and to exercise such powers as are delegated to the Administrative Agent by the terms hereof and the other Loan Documents, together with such actions and powers
as are reasonably incidental thereto. The provisions of this Article are solely for the benefit of the Administrative Agent, the Lenders and the Issuing Bank, and neither the Borrower nor any Guarantor shall have rights as a third party beneficiary
of any of such provisions. 
 Section 11.02. Duties and Obligations of Administrative Agent. The Administrative Agent shall not
have any duties or obligations except those expressly set forth in the Loan Documents. Without limiting the generality of the foregoing, (a) the Administrative Agent shall not be subject to any fiduciary or other implied duties, regardless of
whether a Default has occurred and is continuing (the use of the term “agent” herein and in the other Loan Documents with reference to the Administrative Agent is not intended to connote any fiduciary or other implied (or express)
obligations arising under agency doctrine of any applicable law; rather, such term is used merely as a matter of market custom, and is intended to create or reflect only an administrative relationship between independent contracting parties), (b)
the Administrative Agent shall have no duty to take any discretionary action or exercise any discretionary powers, except as provided in Section 11.03, and (c) except as expressly set forth herein, the Administrative Agent shall not have
any duty to disclose, and shall not be liable for the failure to disclose, any information relating to the Borrower or any of its Affiliates that is communicated to or obtained by the bank serving as Administrative Agent or any of its Affiliates in
any capacity. The Administrative Agent shall be deemed not to have knowledge of any Default unless and until written notice thereof is given to the Administrative Agent by the Borrower or a Lender, and shall not be responsible for or have any duty
to ascertain or inquire into (i) any statement, warranty or representation made in or in connection with this Agreement or any other Loan Document, (ii) the contents of any certificate, report or other document delivered hereunder or under
any other Loan Document or in connection herewith or therewith, (iii) the performance or observance of any of the covenants, agreements or other terms or conditions set forth herein or in any other Loan Document, (iv) the validity,
enforceability, effectiveness or genuineness of this Agreement, any other Loan Document or any other agreement, instrument or document, (v) the satisfaction of any condition set forth in Article VI or elsewhere herein, other than to confirm
receipt of items expressly required to be delivered to the Administrative Agent or as to those conditions precedent expressly required to be to the Administrative Agent’s satisfaction, (vi) the existence, value, perfection or priority of
any collateral security or the financial or other condition of the Borrower and its Subsidiaries or any other obligor or guarantor, or (vii) any failure by the Borrower or any other Person (other than itself) to perform any of its obligations
hereunder or under any other Loan Document or the performance or observance of any covenants, agreements or other terms or conditions set forth herein or therein. For purposes of 

  
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determining compliance with the conditions specified in Article VI, each Lender shall be deemed to have consented to, approved or accepted or to be satisfied with, each document or other matter
required thereunder to be consented to or approved by or acceptable or satisfactory to a Lender unless the Administrative Agent shall have received written notice from such Lender prior to the Effective Date specifying its objection thereto. 

Section 11.03. Action by Administrative Agent. The Administrative Agent shall have no duty to take any discretionary action or
exercise any discretionary powers, except discretionary rights and powers expressly contemplated hereby or by the other Loan Documents that the Administrative Agent is required to exercise in writing as directed by the Majority Lenders (or such
other number or percentage of the Lenders as shall be necessary under the circumstances as provided in Section 12.02) and in all cases the Administrative Agent shall be fully justified in failing or refusing to act hereunder or under any other
Loan Documents unless it shall (a) receive written instructions from the Majority Lenders or the Lenders, as applicable, (or such other number or percentage of the Lenders as shall be necessary under the circumstances as provided in
Section 12.02) specifying the action to be taken and (b) be indemnified to its satisfaction by the Lenders against any and all liability and expenses which may be incurred by it by reason of taking or continuing to take any such action.
The instructions as aforesaid and any action taken or failure to act pursuant thereto by the Administrative Agent shall be binding on all of the Lenders. If a Default has occurred and is continuing, then the Administrative Agent shall take such
action with respect to such Default as shall be directed by the requisite Lenders in the written instructions (with indemnities) described in this Section 11.03, provided that, unless and until the Administrative Agent shall have received such
directions, the Administrative Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default as it shall deem advisable in the best interests of the Lenders. In no event, however, shall
the Administrative Agent be required to take any action which exposes the Administrative Agent to personal liability or which is contrary to this Agreement, the Loan Documents or applicable law. If a Default has occurred and is continuing, the
Syndication Agent and the Documentation Agent shall not have any obligation to perform any act in respect thereof. The Administrative Agent shall not be liable for any action taken or not taken by it with the consent or at the request of the
Majority Lenders or the Lenders (or such other number or percentage of the Lenders as shall be necessary under the circumstances as provided in Section 12.02), and otherwise the Administrative Agent shall not be liable for any action taken or not
taken by it hereunder or under any other Loan Document or under any other document or instrument referred to or provided for herein or therein or in connection herewith or therewith INCLUDING ITS OWN ORDINARY NEGLIGENCE, except for its own gross
negligence or willful misconduct. 
 Section 11.04. Reliance by Administrative Agent. The Administrative Agent shall be entitled
to rely upon, and shall not incur any liability for relying upon, any notice, request, certificate, consent, statement, instrument, document or other writing believed by it to be genuine and to have been signed or sent by the proper Person. The
Administrative Agent also may rely upon any statement made to it orally or by telephone and believed by it to be made by the proper Person, and shall not incur any liability for relying thereon and each of the Borrower, the Lenders and the Issuing
Bank hereby waives the right to dispute the Administrative Agent’s record of such statement, except in the case of gross negligence or willful misconduct by the Administrative Agent. The Administrative Agent may consult with legal counsel (who
may be 

  
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counsel for the Borrower), independent accountants and other experts selected by it, and shall not be liable for any action taken or not taken by it in accordance with the advice of any such
counsel, accountants or experts. The Administrative Agent may deem and treat the payee of any Note as the holder thereof for all purposes hereof unless and until a written notice of the assignment or transfer thereof permitted hereunder shall have
been filed with the Administrative Agent. 
 Section 11.05. Subagents. The Administrative Agent may perform any and all its
duties and exercise its rights and powers by or through any one or more sub-agents appointed by the Administrative Agent. The Administrative Agent and any such sub-agent
may perform any and all its duties and exercise its rights and powers through their respective Related Parties. The exculpatory provisions of the preceding Sections of this Article XI shall apply to any such sub-agent and to the Related Parties of
the Administrative Agent and any such sub-agent, and shall apply to their respective activities in connection with the syndication of the credit facilities provided for herein as well as activities as
Administrative Agent. 
 Section 11.06. Resignation of Administrative Agent. Subject to the appointment and acceptance of a
successor Administrative Agent as provided in this Section 11.06, the Administrative Agent may resign at any time by notifying the Lenders, the Issuing Bank and the Borrower. Upon any such resignation, the Majority Lenders shall have the right,
in consultation with the Borrower, to appoint a successor. If no successor shall have been so appointed by the Majority Lenders and shall have accepted such appointment within 30 days after the retiring Administrative Agent gives notice of its
resignation of the retiring Administrative Agent, then the retiring Administrative Agent may, on behalf of the Lenders and the Issuing Bank, appoint a successor Administrative Agent. Upon the acceptance of its appointment as Administrative Agent
hereunder by a successor, such successor shall succeed to and become vested with all the rights, powers, privileges and duties of the retiring Administrative Agent, and the retiring Administrative Agent shall be discharged from its duties and
obligations hereunder. The fees payable by the Borrower to a successor Administrative Agent shall be the same as those payable to its predecessor unless otherwise agreed between the Borrower and such successor. After the Administrative Agent’s
resignation hereunder, the provisions of this Article XI and Section 12.03 shall continue in effect for the benefit of such retiring Administrative Agent, its sub-agents and their respective Related Parties in
respect of any actions taken or omitted to be taken by any of them while it was acting as Administrative Agent. 
 Section 11.07.
Agents as Lenders. Each bank serving as an Agent hereunder shall have the same rights and powers in its capacity as a Lender as any other Lender and may exercise the same as though it were not an Agent, and such bank and its Affiliates may
accept deposits from, lend money to and generally engage in any kind of business with the Borrower or any Subsidiary or other Affiliate thereof as if it were not an Agent hereunder. 

Section 11.08. No Reliance. Each Lender acknowledges that it has, independently and without reliance upon the Administrative
Agent, any other Agent or any other Lender and based on such documents and information as it has deemed appropriate, made its own credit analysis and decision to enter into this Agreement and each other Loan Document to which it is a party. Each
Lender also acknowledges that it will, independently and without reliance upon the Administrative Agent, any other Agent or any other Lender and based on such documents and 

  
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information as it shall from time to time deem appropriate, continue to make its own decisions in taking or not taking action under or based upon this Agreement, any other Loan Document, any
related agreement or any document furnished hereunder or thereunder. The Agents shall not be required to keep themselves informed as to the performance or observance by the Borrower or any of its Subsidiaries of this Agreement, the Loan Documents or
any other document referred to or provided for herein or to inspect the Properties or books of the Borrower or its Subsidiaries. Except for notices, reports and other documents and information expressly required to be furnished to the Lenders by the
Administrative Agent hereunder, no Agent or the Arranger shall have any duty or responsibility to provide any Lender with any credit or other information concerning the affairs, financial condition or business of the Borrower (or any of its
Affiliates) which may come into the possession of such Agent or any of its Affiliates. In this regard, each Lender acknowledges that Simpson, Thacher & Bartlett L.L.P. is acting in this transaction as special counsel to the Administrative
Agent only, except to the extent otherwise expressly stated in any legal opinion or any Loan Document. Each other party hereto will consult with its own legal counsel to the extent that it deems necessary in connection with the Loan Documents and
the matters contemplated therein. 
 Section 11.09. Administrative Agent May File Proofs of Claim. In case of the pendency of
any receivership, insolvency, liquidation, bankruptcy, reorganization, arrangement, adjustment, composition or other judicial proceeding relative to the Borrower or any of its Subsidiaries, the Administrative Agent (irrespective of whether the
principal of any Loan shall then be due and payable as herein expressed or by declaration or otherwise and irrespective of whether the Administrative Agent shall have made any demand on the Borrower) shall be entitled and empowered, by intervention
in such proceeding or otherwise: 
 (a) to file and prove a claim for the whole amount of the principal and interest owing and unpaid in
respect of the Loans and all other Secured Obligations that are owing and unpaid and to file such other documents as may be necessary or advisable in order to have the claims of the Lenders and the Administrative Agent (including any claim for the
reasonable compensation, expenses, disbursements and advances of the Lenders and the Administrative Agent and their respective agents and counsel and all other amounts due the Lenders and the Administrative Agent under Section 12.03) allowed in
such judicial proceeding; and 
 (b) to collect and receive any monies or other property payable or deliverable on any such claims and to
distribute the same; and any custodian, receiver, assignee, trustee, liquidator, sequestrator or other similar official in any such judicial proceeding is hereby authorized by each Lender to make such payments to the Administrative Agent and, in the
event that the Administrative Agent shall consent to the making of such payments directly to the Lenders, to pay to the Administrative Agent any amount due for the reasonable compensation, expenses, disbursements and advances of the Administrative
Agent and its agents and counsel, and any other amounts due the Administrative Agent under Section 12.03. 
 Nothing contained herein shall be deemed
to authorize the Administrative Agent to authorize or consent to or accept or adopt on behalf of any Lender any plan of reorganization, arrangement, adjustment or composition affecting the Secured Obligations or the rights of any Lender or to
authorize the Administrative Agent to vote in respect of the claim of any Lender in any such proceeding. 

  
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 Section 11.10. Authority of Administrative Agent to Release Collateral and
Liens. Each Lender and the Issuing Bank hereby authorizes the Administrative Agent to release any collateral and/or Guarantor that are permitted to be sold or released pursuant to the terms of the Loan Documents. Each Lender and the Issuing Bank
hereby authorizes the Administrative Agent to execute and deliver to the Borrower, at the Borrower’s sole cost and expense, any and all releases of Liens, termination statements, assignments or other documents reasonably requested by the
Borrower in connection with any sale or other Disposition of Property to the extent such sale or other Disposition is permitted by the terms of Section 9.10 or is otherwise authorized by the terms of the Loan Documents. 

Section 11.11. The Arranger, the Syndication Agent and the Documentation Agent. The Arrangers, the Syndication Agent and the
Documentation Agent shall have no duties, responsibilities or liabilities under this Agreement and the other Loan Documents other than their duties, responsibilities and liabilities in their capacity as Lenders hereunder. 

ARTICLE XII  

MISCELLANEOUS 

Section 12.01. Notices. 

(a) Except in the case of notices and other communications expressly permitted to be given by telephone (and subject to
Section 12.01(b)), all notices and other communications provided for herein shall be in writing and shall be delivered by hand or overnight courier service, mailed by certified or registered mail or sent by telecopy, as follows: 

(i) if to the Parent or the Borrower, to them at 

Three Allen Center 
 333 Clay
Street, Suite 4200 
 Houston, Texas 77002 

Attention: David Dunwoody, President 

Tel: 713-335-7003 

Fax: 713-335-7503 

(ii) if to the Administrative Agent, to it at 

700 Louisiana Street, Suite 2100 

Houston, Texas 77002 

Attention: Melissa Guzmann 

Tel: 713-546-9740 

Fax: 713-223-4007 

and 
 (iii) if to any other
Lender, to it at its address (or telecopy number) set forth in its Administrative Questionnaire. 

  
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 (b) Notices and other communications to the Lenders hereunder may be delivered or furnished
by electronic communications pursuant to procedures approved by the Administrative Agent; provided that the foregoing shall not apply to notices pursuant to Article II, Article III, Article IV and Article V unless otherwise agreed by the
Administrative Agent and the applicable Lender. The Administrative Agent or the Borrower may, in its discretion, agree to accept notices and other communications to it hereunder by electronic communications pursuant to procedures approved by it;
provided that approval of such procedures may be limited to particular notices or communications. 
 (c) Any party hereto may change its
address or telecopy number for notices and other communications hereunder by notice to the other parties hereto. All notices and other communications given to any party hereto in accordance with the provisions of this Agreement shall be deemed to
have been given on the date of receipt. 
 Section 12.02. Waivers; Amendments. 

(a) No failure on the part of the Administrative Agent, any other Agent, the Issuing Bank or any Lender to exercise and no delay in
exercising, and no course of dealing with respect to, any right, power or privilege, or any abandonment or discontinuance of steps to enforce such right, power or privilege, under any of the Loan Documents shall operate as a waiver thereof, nor
shall any single or partial exercise of any right, power or privilege under any of the Loan Documents preclude any other or further exercise thereof or the exercise of any other right, power or privilege. The rights and remedies of the
Administrative Agent, any other Agent, the Issuing Bank and the Lenders hereunder and under the other Loan Documents are cumulative and are not exclusive of any rights or remedies that they would otherwise have. No waiver of any provision of this
Agreement or any other Loan Document or consent to any departure by the Borrower therefrom shall in any event be effective unless the same shall be permitted by Section 12.02(b), and then such waiver or consent shall be effective only in the
specific instance and for the purpose for which given. Without limiting the generality of the foregoing, the making of a Loan or issuance of a Letter of Credit shall not be construed as a waiver of any Default, regardless of whether the
Administrative Agent, any other Agent, any Lender or the Issuing Bank may have had notice or knowledge of such Default at the time. 
 (b)
Neither this Agreement nor any provision hereof nor any Security Instrument nor any provision thereof may be waived, amended or modified except pursuant to an agreement or agreements in writing entered into by the Borrower and the Majority Lenders
or by the Borrower and the Administrative Agent with the consent of the Majority Lenders; provided that no such agreement shall (i) increase the Elected Commitment or the Maximum Credit Amount of any Lender without the written consent of such
Lender, (ii) increase the Borrowing Base without the written consent of all of the Lenders, decrease or maintain the Borrowing Base without the consent of the Required Lenders, or modify Section 2.07 in any manner without the consent of
each Lender (other than any Defaulting Lender); provided that a Scheduled Redetermination may be postponed by the Required Lenders, (iii) reduce the principal amount of any Loan or LC Disbursement or reduce the rate of interest thereon, or
reduce any fees payable hereunder, or reduce any other Secured Obligations hereunder or under any other Loan Document, without the written consent of each Lender directly affected thereby, (iv) postpone the scheduled date of payment or
prepayment of the principal amount of any Loan or LC Disbursement, or any interest thereon, or any fees payable hereunder, or any other Secured Obligations hereunder or under any other Loan Document (other than the Fee Letter or the AA Fee Letter),
or reduce the amount of, 

  
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waive or excuse any such payment, or postpone or extend the Maturity Date or the Termination Date without the written consent of each Lender directly affected thereby, (v) change Section
4.01(b) or Section 4.01(c) in a manner that would alter the pro rata sharing of payments required thereby, or reduce the percentages set forth in Sections 8.13 and 8.14, without the written consent of each Lender, (vi) waive or amend
Section 3.04(c), Section 6.01, Section 10.02(c) or Section 12.14 or change the definition of “Subsidiary” without the written consent of each Lender directly affected thereby (other than any Defaulting Lender); provided
that any waiver or amendment of Section 12.14, this proviso in this Section 12.02(b)(vi) or Sections 12.02(b)(vii), shall also require the written consent of each Secured Swap Party and any waiver or amendment to Section 12.02(b)(x)
shall also require the written consent of each Secured Swap Party adversely affected thereby, (vii) release any Guarantor (except as set forth in this Agreement or the Guaranty Agreement), release all or substantially all of the collateral
(other than as provided in Section 11.10), without the written consent of each Lender (other than any Defaulting Lender), (viii) amend or otherwise modify any Security Instrument in a manner that results in the Secured Swap Obligations secured
by such Security Instrument no longer being secured thereby on an equal and ratable basis with the principal of the Loans, or amend or otherwise change the definition of “Secured Swap Agreement,” “Secured Swap Obligations” or
“Secured Swap Party,” without the written consent of each Secured Swap Party adversely affected thereby, (ix) change any of the provisions of this Section 12.02(b) or the definitions of “Required Lenders” or
“Majority Lenders” or any other provision hereof specifying the number or percentage of Lenders required to waive, amend or modify any rights hereunder or under any other Loan Documents (other than the Fee Letter or the AA Fee Letter) or
make any determination or grant any consent hereunder or any other Loan Documents (other than the Fee Letter or the AA Fee Letter), without the written consent of each Lender (other than any Defaulting Lender), (x) change Section 10.02(c)
without the consent of each Person adversely affected thereby to whom a Secured Obligation is owed; provided further that no such agreement shall amend, modify or otherwise affect the rights or duties of the Administrative Agent, any other Agent, or
the Issuing Bank hereunder or under any other Loan Document without the prior written consent of the Administrative Agent, such other Agent or the Issuing Bank, as the case may be, or (xi) contractually subordinate the payment of all the
Secured Obligations to any other Debt or contractually subordinate the priority of any of the Administrative Agent’s Liens to the Liens securing any other Debt, in each case, without the written consent of each Lender (other than any Defaulting
Lender). Notwithstanding the foregoing, any supplement to Schedule 7.14 (Subsidiaries) shall be effective simply by delivering to the Administrative Agent a supplemental schedule clearly marked as such and, upon receipt, the Administrative Agent
will promptly deliver a copy thereof to the Lenders. 
 (c) Notwithstanding anything to the contrary contained in this Section 12.02 or
any other provision of this Agreement or any provision of any other Loan Document if the Administrative Agent and the Borrower have jointly identified any ambiguity, mistake, defect, inconsistency, obvious error or any error or omission of a
technical nature or any necessary or desirable technical change, in each case, in any provision of any Loan Document, then the Administrative Agent and the Borrower shall be permitted to amend such provision solely to address such matter as
reasonably determined by them acting jointly. 

  
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 Section 12.03. Expenses, Indemnity; Damage Waiver. 

(a) The Parent and the Borrower agree, jointly and severally, to pay (i) all reasonable and documented out-of-pocket expenses incurred by the Administrative Agent and its Affiliates, including, without limitation, the reasonable and documented fees, charges and disbursements of Simpson Thacher &
Bartlett LLP, counsel for the Administrative Agent (and as required by a firm of local counsel in each appropriate jurisdiction and in the case of an actual or potential conflict of interest, one additional firm of counsel to the affected Lenders)
and other outside consultants for the Administrative Agent, the reasonable travel, photocopy, mailing, courier, telephone and other similar expenses, and the cost of environmental invasive and non-invasive
assessments and audits and surveys and appraisals (subject to Section 8.08), in connection with the syndication of the credit facilities provided for herein, the preparation, negotiation, execution, delivery and administration (both before and
after the execution hereof and including advice of counsel to the Administrative Agent as to the rights and duties of the Administrative Agent and the Lenders with respect thereto) of this Agreement and the other Loan Documents and any amendments,
modifications or waivers of or consents related to the provisions hereof or thereof (whether or not the transactions contemplated hereby or thereby shall be consummated), (ii) all costs, expenses, Taxes, assessments and other charges incurred by any
Agent in connection with any filing, registration, recording or perfection of any security interest contemplated by this Agreement or any Security Instrument or any other document referred to therein, (iii) all reasonable and documented out-of-pocket expenses incurred by the Issuing Bank in connection with the issuance, amendment, renewal or extension of any Letter of Credit or any demand for payment
thereunder, (iv) all reasonable and documented out-of-pocket expenses incurred by any Agent, the Issuing Bank or any Lender, including the reasonable and documented
fees, charges and disbursements of any counsel for any Agent, the Issuing Bank or any Lender, in connection with the enforcement or protection of its rights in connection with this Agreement or any other Loan Document, including its rights under
this Section 12.03, or in connection with the Loans made or Letters of Credit issued hereunder, including, without limitation, all such out-of-pocket expenses
incurred during any workout, restructuring or negotiations in respect of such Loans or Letters of Credit. 
 (b) THE PARENT AND THE BORROWER
AGREE, JOINTLY AND SEVERALLY, TO INDEMNIFY EACH AGENT, THE ARRANGER, THE ISSUING BANK AND EACH LENDER, AND EACH RELATED PARTY OF ANY OF THE FOREGOING PERSONS (EACH SUCH PERSON BEING CALLED AN “INDEMNITEE”) AGAINST, AND DEFEND AND
HOLD EACH INDEMNITEE HARMLESS FROM, ANY AND ALL LOSSES, CLAIMS, DAMAGES, PENALTIES, LIABILITIES AND RELATED EXPENSES, INCLUDING THE FEES, CHARGES AND DISBURSEMENTS OF ANY COUNSEL FOR ANY INDEMNITEE, INCURRED BY OR ASSERTED AGAINST ANY INDEMNITEE
ARISING OUT OF, IN CONNECTION WITH, OR AS A RESULT OF (i) THE EXECUTION OR DELIVERY OF THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT OR ANY AGREEMENT OR INSTRUMENT CONTEMPLATED HEREBY OR THEREBY, THE PERFORMANCE BY THE PARTIES HERETO OR THE PARTIES
TO ANY OTHER LOAN DOCUMENT OF THEIR RESPECTIVE OBLIGATIONS HEREUNDER OR THEREUNDER OR THE CONSUMMATION OF THE TRANSACTIONS CONTEMPLATED HEREBY OR BY ANY OTHER LOAN DOCUMENT, (ii) THE FAILURE OF THE PARENT, THE BORROWER OR ANY SUBSIDIARY TO
COMPLY WITH THE TERMS OF ANY LOAN DOCUMENT, INCLUDING THIS AGREEMENT, OR WITH ANY GOVERNMENTAL REQUIREMENT, (iii) ANY INACCURACY OF ANY REPRESENTATION OR ANY 

  
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BREACH OF ANY WARRANTY OR COVENANT OF THE BORROWER OR ANY GUARANTOR SET FORTH IN ANY OF THE LOAN DOCUMENTS OR ANY INSTRUMENTS, DOCUMENTS OR CERTIFICATIONS DELIVERED IN CONNECTION THEREWITH,
(iv) ANY LOAN OR LETTER OF CREDIT OR THE USE OF THE PROCEEDS THEREFROM, INCLUDING, WITHOUT LIMITATION, (A) ANY REFUSAL BY THE ISSUING BANK TO HONOR A DEMAND FOR PAYMENT UNDER A LETTER OF CREDIT IF THE DOCUMENTS PRESENTED IN CONNECTION WITH
SUCH DEMAND DO NOT STRICTLY COMPLY WITH THE TERMS OF SUCH LETTER OF CREDIT, OR (B) THE PAYMENT OF A DRAWING UNDER ANY LETTER OF CREDIT NOTWITHSTANDING THE NON-COMPLIANCE,
NON-DELIVERY OR OTHER IMPROPER PRESENTATION OF THE DOCUMENTS PRESENTED IN CONNECTION THEREWITH, (v) ANY OTHER ASPECT OF THE LOAN DOCUMENTS, (vi) THE OPERATIONS OF THE BUSINESS OF THE PARENT, THE
BORROWER AND ITS SUBSIDIARIES BY THE PARENT, THE BORROWER AND ITS SUBSIDIARIES, (vii) ANY ASSERTION THAT THE LENDERS WERE NOT ENTITLED TO RECEIVE THE PROCEEDS RECEIVED PURSUANT TO THE SECURITY INSTRUMENTS, (viii) ANY ENVIRONMENTAL LAW
APPLICABLE TO THE PARENT, THE BORROWER OR ANY SUBSIDIARY OR ANY OF THEIR PROPERTIES OR OPERATIONS, INCLUDING, THE PRESENCE, GENERATION, STORAGE, RELEASE, THREATENED RELEASE, USE, TRANSPORT, DISPOSAL, ARRANGEMENT OF DISPOSAL OR TREATMENT OF HAZARDOUS
MATERIALS ON OR AT ANY OF THEIR PROPERTIES, (ix) THE BREACH OR NON-COMPLIANCE BY THE PARENT, THE BORROWER OR ANY SUBSIDIARY WITH ANY ENVIRONMENTAL LAW APPLICABLE TO THE BORROWER OR ANY SUBSIDIARY,
(x) THE PAST OWNERSHIP BY THE PARENT, THE BORROWER OR ANY SUBSIDIARY OF ANY OF THEIR PROPERTIES OR PAST ACTIVITY ON ANY OF THEIR PROPERTIES WHICH, THOUGH LAWFUL AND FULLY PERMISSIBLE AT THE TIME, COULD RESULT IN PRESENT LIABILITY, (xi) THE
PRESENCE, USE, RELEASE, STORAGE, TREATMENT, DISPOSAL, GENERATION, THREATENED RELEASE, TRANSPORT, ARRANGEMENT FOR TRANSPORT OR ARRANGEMENT FOR DISPOSAL OF HAZARDOUS MATERIALS ON OR AT ANY OF THE PROPERTIES OWNED OR OPERATED BY THE PARENT, THE
BORROWER OR ANY SUBSIDIARY OR ANY ACTUAL OR ALLEGED PRESENCE OR RELEASE OF HAZARDOUS MATERIALS ON OR FROM ANY PROPERTY OWNED OR OPERATED BY THE PARENT, THE BORROWER OR ANY OF ITS SUBSIDIARIES, (xii) ANY ENVIRONMENTAL LIABILITY RELATED IN ANY
WAY TO THE PARENT, THE BORROWER OR ANY OF ITS SUBSIDIARIES, OR (xiii) ANY OTHER ENVIRONMENTAL, HEALTH OR SAFETY CONDITION IN CONNECTION WITH THE LOAN DOCUMENTS, OR (xiv) ANY ACTUAL OR PROSPECTIVE CLAIM, LITIGATION, INVESTIGATION OR
PROCEEDING RELATING TO ANY OF THE FOREGOING, WHETHER BASED ON CONTRACT, TORT OR ANY OTHER THEORY AND REGARDLESS OF WHETHER ANY INDEMNITEE IS A PARTY THERETO, AND SUCH INDEMNITY SHALL EXTEND TO EACH INDEMNITEE NOTWITHSTANDING THE SOLE OR CONCURRENT
NEGLIGENCE OF EVERY KIND OR CHARACTER WHATSOEVER, WHETHER ACTIVE OR PASSIVE, WHETHER AN AFFIRMATIVE ACT OR AN OMISSION, INCLUDING WITHOUT LIMITATION, ALL TYPES OF NEGLIGENT CONDUCT IDENTIFIED IN THE RESTATEMENT (SECOND) OF TORTS OF ONE OR 

  
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MORE OF THE INDEMNITEES OR BY REASON OF STRICT LIABILITY IMPOSED WITHOUT FAULT ON ANY ONE OR MORE OF THE INDEMNITEES; provided THAT SUCH INDEMNITY SHALL NOT, AS TO ANY INDEMNITEE, BE
AVAILABLE TO THE EXTENT THAT SUCH LOSSES, CLAIMS, DAMAGES, LIABILITIES OR RELATED EXPENSES ARE DETERMINED BY A COURT OF COMPETENT JURISDICTION BY FINAL AND NONAPPEALABLE JUDGMENT TO HAVE RESULTED FROM THE GROSS NEGLIGENCE OR WILLFUL MISCONDUCT OF
SUCH INDEMNITEE OR ANY DISPUTE SOLELY BETWEEN INDEMNITEES (OTHER THAN DISPUTES INVOLVING CLAIMS AGAINST THE ARRANGER OR THE ADMINISTRATIVE AGENT IN ITS CAPACITY AS SUCH). 

(c) To the extent that the Parent or the Borrower fails to pay any amount required to be paid by it to any Agent, the Arranger or the Issuing
Bank under Section 12.03(a) or (b), each Lender severally agrees to pay to such Agent, the Arranger or the Issuing Bank, as the case may be, such Lender’s Applicable Percentage (determined as of the time that the applicable unreimbursed
expense or indemnity payment is sought) of such unpaid amount; provided that the unreimbursed expense or indemnified loss, claim, damage, liability or related expense, as the case may be, was incurred by or asserted against such Agent, the Arranger
or the Issuing Bank in its capacity as such. 
 (d) To the extent permitted by applicable law, neither the Parent nor the Borrower shall
assert, and hereby waives, any claim against any Indemnitee, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this
Agreement, any other Loan Document or any agreement or instrument contemplated hereby or thereby, the Transactions, any Loan or Letter of Credit or the use of the proceeds thereof. 

(e) All amounts due under this Section 12.03 shall be payable not later than 10 Business Days after written demand therefor. 

Section 12.04. Successors and Assigns. 

(a) The provisions of this Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors and
assigns permitted hereby (including any Affiliate of the Issuing Bank that issues any Letter of Credit), except that (i) the Borrower may not assign or otherwise transfer any of its rights or obligations hereunder without the prior written
consent of each Lender (and any attempted assignment or transfer by the Borrower without such consent shall be null and void) and (ii) no Lender may assign or otherwise transfer its rights or obligations hereunder except in accordance with this
Section 12.04. Nothing in this Agreement, expressed or implied, shall be construed to confer upon any Person (other than the parties hereto, their respective successors and assigns permitted hereby (including any Affiliate of the Issuing Bank
that issues any Letter of Credit), Participants (to the extent provided in Section 12.04(c)) and, to the extent expressly contemplated hereby, the Related Parties of each of the Administrative Agent, the Issuing Bank and the Lenders) any legal
or equitable right, remedy or claim under or by reason of this Agreement. 

  
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 (b) (i) Subject to the conditions set forth in Section 12.04(b)(ii), any Lender
may assign to one or more assignees all or a portion of its rights and obligations under this Agreement (including all or a portion of its Commitment and the Loans at the time owing to it) with the prior written consent (such consent not to be
unreasonably withheld) of: 
  

	 	(A)	 the Borrower, provided that no consent of the Borrower shall be required if such assignment is to a Lender, an
Affiliate of a Lender, an Approved Fund or, if an Event of Default has occurred and is continuing, is to any other assignee; provided that the Borrower shall be deemed to have consented to any such assignment unless it shall object thereto by
written notice to the Administrative Agent within five (5) Business Days after having received notice thereof; 

  

	 	(B)	 the Issuing Bank, provided that no consent of the Issuing Bank shall be required for an assignment to an
assignee that is a Lender immediately prior to giving effect to such assignment, an Affiliate of a Lender or an Approved Fund; and 

  

	 	(C)	 the Administrative Agent, provided that no consent of the Administrative Agent shall be required for an
assignment to an assignee that is a Lender immediately prior to giving effect to such assignment, an Affiliate of a Lender or an Approved Fund. 

(ii) Assignments shall be subject to the following additional conditions: 

 

	 	(A)	 except in the case of an assignment to a Lender or an Affiliate of a Lender or an assignment of the entire
remaining amount of the assigning Lender’s Commitment or Loans, the amount of the Commitment or Loans of the assigning Lender subject to each such assignment (determined as of the date the Assignment and Assumption with respect to such
assignment is delivered to the Administrative Agent) shall not be less than $5,000,000 and the amount of the Commitment of Loans of the assigning Lender after such assignment shall not be less than $5,000,000 unless each of the Borrower and the
Administrative Agent otherwise consent, provided that no such consent of the Borrower shall be required if an Event of Default has occurred and is continuing; 

  
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	 	(B)	 each partial assignment shall be made as an assignment of a proportionate part of all the assigning
Lender’s rights and obligations under this Agreement; 

  

	 	(C)	 the parties to each assignment shall execute and deliver to the Administrative Agent an Assignment and
Assumption, together with a processing and recordation fee of $3,500; 

  

	 	(D)	 the assignee, if it shall not be a Lender, shall deliver to the Administrative Agent an Administrative
Questionnaire; and 

  

	 	(E)	 The Assignee must not be a Defaulting Lender or an Affiliate of the Borrower. 

(iii) Subject to Section 12.04(b)(iv) and the acceptance and recording thereof, from and after the effective date
specified in each Assignment and Assumption the assignee thereunder shall be a party hereto and, to the extent of the interest assigned by such Assignment and Assumption, have the rights and obligations of a Lender under this Agreement, and the
assigning Lender thereunder shall, to the extent of the interest assigned by such Assignment and Assumption, be released from its obligations under this Agreement (and, in the case of an Assignment and Assumption covering all of the assigning
Lender’s rights and obligations under this Agreement, such Lender shall cease to be a party hereto but shall continue to be entitled to the benefits of Section 5.01, Section 5.02, Section 5.03 and Section 12.03). Any
assignment or transfer by a Lender of rights or obligations under this Agreement that does not comply with this Section 12.04 shall be treated for purposes of this Agreement as a sale by such Lender of a participation in such rights and
obligations in accordance with Section 12.04(c). 
 (iv) The Administrative Agent, acting for this purpose as an agent
of the Borrower, shall maintain at one of its offices a copy of each Assignment and Assumption delivered to it and a register for the recordation of the names and addresses of the Lenders, and the Maximum Credit Amount and Elected Commitment of, and
principal amount of the Loans and LC Disbursements owing to, each Lender pursuant to the terms hereof from time to time (the “Register”). The entries in the Register shall be conclusive, and the Borrower, the Administrative Agent, the
Issuing Bank and the Lenders may treat each Person whose name is recorded in the Register pursuant to the terms hereof as a Lender hereunder for all purposes of this Agreement, notwithstanding notice to the contrary. The Register shall be available
for inspection by the Borrower, the Issuing Bank and any Lender, at any reasonable time and from time to time upon reasonable prior notice. In connection with any changes to the Register, if necessary, the Administrative Agent will reflect the
revisions on Annex I and forward a copy of such revised Annex I to the Borrower, the Issuing Bank and each Lender. 

  
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 (v) Upon its receipt of a duly completed Assignment and Assumption executed
by an assigning Lender and an assignee, the assignee’s completed Administrative Questionnaire (unless the assignee shall already be a Lender hereunder), the processing and recordation fee referred to in Section 12.04(b) and any written
consent to such assignment required by Section 12.04(b), the Administrative Agent shall accept such Assignment and Assumption and record the information contained therein in the Register. No assignment shall be effective for purposes of this
Agreement unless it has been recorded in the Register as provided in this Section 12.04(b). 
 (c) (i) Any Lender may, without the
consent of the Borrower, the Administrative Agent or the Issuing Bank, sell participations to one or more banks or other entities (a “Participant”) in all or a portion of such Lender’s rights and obligations under this Agreement
(including all or a portion of its Commitment and the Loans owing to it); provided that (A) such Lender’s obligations under this Agreement shall remain unchanged, (B) such Lender shall remain solely responsible to the other
parties hereto for the performance of such obligations and (C) the Borrower, the Administrative Agent, the Issuing Bank and the other Lenders shall continue to deal solely and directly with such Lender in connection with such Lender’s
rights and obligations under this Agreement. Any agreement or instrument pursuant to which a Lender sells such a participation shall provide that such Lender shall retain the sole right to enforce this Agreement and to approve any amendment,
modification or waiver of any provision of this Agreement; provided that such agreement or instrument may provide that such Lender will not, without the consent of the Participant, agree to any amendment, modification or waiver described in
the first proviso to Section 12.02(b) that affects such Participant. In addition such agreement must provide that the Participant be bound by the provisions of Section 12.03. Subject to Section 12.04(c)(ii), the Borrower agrees that
each Participant shall be entitled to the benefits of Section 5.01, Section 5.02 and Section 5.03 to the same extent as if it were a Lender and had acquired its interest by assignment pursuant to Section 12.04(a). To the extent
permitted by law, each Participant also shall be entitled to the benefits of Section 12.08 as though it were a Lender, provided such Participant agrees to be subject to Section 4.01(c) as though it were a Lender. Each Lender that sells a
participation shall, acting solely for this purpose as a non-fiduciary agent of the Borrower, maintain a register on which it enters the name and address of each Participant and the principal amounts (and
stated interest) of each Participant’s interest in the Loans or other obligations under the Loan Documents (the “Participant Register”); provided that no Lender shall have any obligation to disclose all or any portion of the
Participant Register (including the identity of any Participant or any information relating to a Participant’s interest in any commitments, loans, letters of credit or its other obligations under any Loan Document) to any Person except to the
extent that such disclosure is necessary to establish that such commitment, loan, letter of credit or other obligation is in registered form under Section 5f.103-1(c) of the United States Treasury
Regulations. The entries in the Participant Register shall be conclusive absent manifest error, and such Lender shall treat each Person whose name is recorded in the Participant Register as the owner of such participation for all purposes of this
Agreement notwithstanding any notice to the contrary. For the avoidance of doubt, the Administrative Agent (in its capacity as Administrative Agent) shall have no responsibility for maintaining a Participant Register. 

  
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 (ii) A Participant shall not be entitled to receive any greater payment
under Section 5.01 or Section 5.03 than the applicable Lender would have been entitled to receive with respect to the participation sold to such Participant, unless the sale of the participation to such Participant is made with the
Borrower’s prior written consent. 
 (d) Any Lender may at any time pledge or assign a security interest in all or any portion of its
rights under this Agreement to secure obligations of such Lender, including, without limitation, any pledge or assignment to secure obligations to a Federal Reserve Bank or a central bank, and this Section 12.04(d) shall not apply to any such
pledge or assignment of a security interest; provided that no such pledge or assignment of a security interest shall release a Lender from any of its obligations hereunder or substitute any such pledgee or assignee for such Lender as a party hereto.

 (e) Notwithstanding any other provisions of this Section 12.04, no transfer or assignment of the interests or obligations of any
Lender or any grant of participations therein shall be permitted if such transfer, assignment or grant would require the Borrower and the Guarantors to file a registration statement with the SEC or to qualify the Loans under the “Blue Sky”
laws of any state. 
 Section 12.05. Survival; Revival; Reinstatement. 

(a) All covenants, agreements, representations and warranties made by the Borrower herein and in the certificates or other instruments
delivered in connection with or pursuant to this Agreement or any other Loan Document shall be considered to have been relied upon by the other parties hereto and shall survive the execution and delivery of this Agreement and the making of any Loans
and issuance of any Letters of Credit, regardless of any investigation made by any such other party or on its behalf and notwithstanding that the Administrative Agent, any other Agent, the Issuing Bank or any Lender may have had notice or knowledge
of any Default or incorrect representation or warranty at the time any credit is extended hereunder, and shall continue in full force and effect as long as the principal of or any accrued interest on any Loan or any fee or any other amount payable
under this Agreement is outstanding and unpaid or any Letter of Credit is outstanding and so long as the Commitments have not expired or terminated. The provisions of Section 5.01, Section 5.02, Section 5.03 and Section 12.03 and
Article XI shall survive and remain in full force and effect regardless of the consummation of the transactions contemplated hereby, the repayment of the Loans, the expiration or termination of the Letters of Credit and the Commitments or the
termination of this Agreement, any other Loan Document or any provision hereof or thereof. 
 (b) To the extent that any payments on the
Secured Obligations or proceeds of any collateral are subsequently invalidated, declared to be fraudulent or preferential, set aside or required to be repaid to a trustee, debtor in possession, receiver or other Person under any bankruptcy law,
common law or equitable cause, then to such extent, the Secured Obligations so satisfied shall be revived and continue as if such payment or proceeds had not been received and the Administrative Agent’s and the Lenders’ Liens, security
interests, rights, powers and remedies under this Agreement and each Loan Document shall continue in full force and effect. In such event, each Loan Document shall be automatically reinstated and the Borrower shall take such action as may be
reasonably requested by the Administrative Agent and the Lenders to effect such reinstatement. 

  
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 Section 12.06. Counterparts; Integration; Effectiveness. 

(a) This Agreement may be executed in counterparts (and by different parties hereto on different counterparts), each of which shall constitute
an original, but all of which when taken together shall constitute a single contract. 
 (b) THIS AGREEMENT AND THE OTHER LOAN
DOCUMENTS REPRESENT THE FINAL AGREEMENT AMONG THE PARTIES HERETO AND THERETO AND MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS OR SUBSEQUENT ORAL AGREEMENTS OF THE PARTIES. THERE ARE NO UNWRITTEN ORAL AGREEMENTS BETWEEN THE
PARTIES. 
 (c) Except as provided in Section 6.01, this Agreement shall become effective when it shall have been executed by the
Administrative Agent and when the Administrative Agent shall have received counterparts hereof which, when taken together, bear the signatures of each of the other parties hereto, and thereafter shall be binding upon and inure to the benefit of the
parties hereto and their respective successors and assigns. Delivery of an executed counterpart of a signature page of this Agreement by telecopy, facsimile or other similar electronic means shall be effective as delivery of a manually executed
counterpart of this Agreement. 
 Section 12.07. Severability. Any provision of this Agreement or any other Loan Document held
to be invalid, illegal or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such invalidity, illegality or unenforceability without affecting the validity, legality and enforceability of the remaining
provisions hereof or thereof; and the invalidity of a particular provision in a particular jurisdiction shall not invalidate such provision in any other jurisdiction. 

Section 12.08. Right of Setoff. If an Event of Default shall have occurred and be continuing, each Lender and each of its
Affiliates is hereby authorized at any time and from time to time, to the fullest extent permitted by law, to set off and apply any and all deposits (general or special, time or demand, provisional or final) at any time held and other obligations
(of whatsoever kind, including, without limitation obligations under Swap Agreements) at any time owing by such Lender or Affiliate to or for the credit or the account of the Parent, the Borrower or any Subsidiary against any of and all the
obligations of the Parent, the Borrower or any Subsidiary owed to such Lender now or hereafter existing under this Agreement or any other Loan Document, irrespective of whether or not such Lender shall have made any demand under this Agreement or
any other Loan Document and although such obligations may be unmatured. The rights of each Lender under this Section 12.08 are in addition to other rights and remedies (including other rights of setoff) which such Lender or its Affiliates may
have. 

  
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 Section 12.09. GOVERNING LAW; JURISDICTION; CONSENT TO SERVICE OF PROCESS. 

(a) THIS AGREEMENT AND THE NOTES SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK EXCEPT TO THE
EXTENT THAT UNITED STATES FEDERAL LAW PERMITS ANY LENDER TO CONTRACT FOR, CHARGE, RECEIVE, RESERVE OR TAKE INTEREST AT THE RATE ALLOWED BY THE LAWS OF THE STATE WHERE SUCH LENDER IS LOCATED. 

(b) ANY LEGAL ACTION OR PROCEEDING WITH RESPECT TO THE LOAN DOCUMENTS SHALL BE BROUGHT IN THE COURTS OF THE STATE OF NEW YORK OR OF THE UNITED
STATES OF AMERICA FOR THE SOUTHERN DISTRICT OF NEW YORK, AND, BY EXECUTION AND DELIVERY OF THIS AGREEMENT, EACH PARTY HEREBY ACCEPTS FOR ITSELF AND (TO THE EXTENT PERMITTED BY LAW) IN RESPECT OF ITS PROPERTY, GENERALLY AND UNCONDITIONALLY, THE
JURISDICTION OF THE AFORESAID COURTS. EACH PARTY HEREBY IRREVOCABLY WAIVES ANY OBJECTION, INCLUDING, WITHOUT LIMITATION, ANY OBJECTION TO THE LAYING OF VENUE OR BASED ON THE GROUNDS OF FORUM NON CONVENIENS, WHICH IT MAY NOW OR HEREAFTER HAVE TO THE
BRINGING OF ANY SUCH ACTION OR PROCEEDING IN SUCH RESPECTIVE JURISDICTIONS. THIS SUBMISSION TO JURISDICTION IS NON-EXCLUSIVE AND DOES NOT PRECLUDE A PARTY FROM OBTAINING JURISDICTION OVER ANOTHER PARTY IN ANY
COURT OTHERWISE HAVING JURISDICTION. 
 (c) EACH PARTY IRREVOCABLY CONSENTS TO THE SERVICE OF PROCESS OF ANY OF THE AFOREMENTIONED COURTS IN
ANY SUCH ACTION OR PROCEEDING BY THE MAILING OF COPIES THEREOF BY REGISTERED OR CERTIFIED MAIL, POSTAGE PREPAID, TO IT AT THE ADDRESS SPECIFIED IN SECTION 12.01 OR SUCH OTHER ADDRESS AS IS SPECIFIED PURSUANT TO SECTION 12.01 (OR ITS ASSIGNMENT AND
ASSUMPTION), SUCH SERVICE TO BECOME EFFECTIVE THIRTY (30) DAYS AFTER SUCH MAILING. NOTHING HEREIN SHALL AFFECT THE RIGHT OF A PARTY OR ANY HOLDER OF A NOTE TO SERVE PROCESS IN ANY OTHER MANNER PERMITTED BY LAW OR TO COMMENCE LEGAL PROCEEDINGS
OR OTHERWISE PROCEED AGAINST ANOTHER PARTY IN ANY OTHER JURISDICTION. 
 (d) EACH PARTY HEREBY (i) IRREVOCABLY AND UNCONDITIONALLY
WAIVES, TO THE FULLEST EXTENT PERMITTED BY LAW, TRIAL BY JURY IN ANY LEGAL ACTION OR PROCEEDING RELATING TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT AND FOR ANY COUNTERCLAIM THEREIN; (ii) IRREVOCABLY WAIVES, TO THE MAXIMUM EXTENT NOT
PROHIBITED BY LAW, ANY RIGHT IT MAY HAVE TO CLAIM OR RECOVER IN ANY SUCH LITIGATION ANY SPECIAL, EXEMPLARY, PUNITIVE OR CONSEQUENTIAL DAMAGES, OR DAMAGES OTHER THAN, OR IN ADDITION TO, ACTUAL DAMAGES; (iii) CERTIFIES THAT NO PARTY HERETO NOR
ANY REPRESENTATIVE OR AGENT OR COUNSEL FOR ANY PARTY HERETO HAS REPRESENTED, EXPRESSLY OR OTHERWISE, OR IMPLIED THAT SUCH PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVERS, AND (iv) ACKNOWLEDGES THAT IT HAS BEEN
INDUCED TO ENTER INTO THIS AGREEMENT, THE LOAN DOCUMENTS AND THE TRANSACTIONS CONTEMPLATED HEREBY AND THEREBY BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS CONTAINED IN THIS SECTION 12.09. 

  
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 Section 12.10. Headings. Article and Section headings and the Table of Contents
used herein are for convenience of reference only, are not part of this Agreement and shall not affect the construction of, or be taken into consideration in interpreting, this Agreement. 

Section 12.11. Confidentiality. Each of the Administrative Agent, the Issuing Bank and the Lenders agrees to maintain the
confidentiality of the Information (as defined below), except that Information may be disclosed (a) to its and its Affiliates’ directors, officers, employees and agents, including accountants, legal counsel and other advisors (it being
understood that the Persons to whom such disclosure is made will be informed of the confidential nature of such Information and required to keep such Information confidential), (b) to the extent requested by any regulatory authority having authority
over the Administrative Agent or any Lender, (c) to the extent required by applicable laws or regulations or by any subpoena or similar legal process, (d) to any other party to this Agreement or any other Loan Document, (e) in
connection with the exercise of any remedies hereunder or under any other Loan Document or any suit, action or proceeding relating to this Agreement or any other Loan Document or the enforcement of rights hereunder or thereunder, (f) subject to
an agreement containing provisions substantially the same as those of this Section 12.11, to (i) any assignee of or Participant in, or any prospective assignee of or Participant in, any of its rights or obligations under this Agreement
(provided that such Person agrees to be bound by the provisions of this Section 12.11) or (ii) any actual or prospective counterparty (or its advisors) to any Swap Agreement relating to the Borrower and its obligations (provided that such
Person agrees to be bound by the provisions of this Section 12.11), (g) with the consent of the Borrower or (h) to the extent such Information (i) becomes publicly available other than as a result of a breach of this
Section 12.11 or (ii) becomes available to the Administrative Agent, the Issuing Bank or any Lender on a nonconfidential basis from a source other than the Borrower (other than as a result of a breach of this Section 12.11). For the
purposes of this Section 12.11, “Information” means all information received from the Borrower or any Subsidiary relating to the Borrower or any Subsidiary and their businesses, other than any such information that is available to the
Administrative Agent, the Issuing Bank or any Lender on a nonconfidential basis prior to disclosure by the Borrower or a Subsidiary or otherwise identified by the Borrower as being nonconfidential. Any Person required to maintain the confidentiality
of Information as provided in this Section 12.11 shall be considered to have complied with its obligation to do so if such Person has exercised the same degree of care to maintain the confidentiality of such Information as such Person would
accord to its own confidential information. 
 Section 12.12. Interest Rate Limitation. It is the intention of the parties
hereto that each Lender shall conform strictly to usury laws applicable to it. Accordingly, if the transactions contemplated hereby would be usurious as to any Lender under laws applicable to it (including the laws of the United States of America
and the State of New York or any other jurisdiction whose laws may be mandatorily applicable to such Lender notwithstanding the other provisions of this Agreement), then, in that event, notwithstanding anything to the contrary in any of the Loan
Documents or any agreement entered into in connection with or as security for the Loans, it is agreed as follows: (i) the aggregate of all consideration which constitutes interest under law applicable to any Lender that is contracted for,
taken, reserved, charged or received by such 

  
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Lender under any of the Loan Documents or agreements or otherwise in connection with the Loans shall under no circumstances exceed the maximum amount allowed by such applicable law, and any
excess shall be canceled automatically and if theretofore paid shall be credited by such Lender on the principal amount of the Secured Obligations (or, to the extent that the principal amount of the Secured Obligations shall have been or would
thereby be paid in full, refunded by such Lender to the Borrower); and (ii) in the event that the maturity of the Loans is accelerated by reason of an election of the holder thereof resulting from any Event of Default under this Agreement or
otherwise, or in the event of any required or permitted prepayment, then such consideration that constitutes interest under law applicable to any Lender may never include more than the maximum amount allowed by such applicable law, and excess
interest, if any, provided for in this Agreement or otherwise shall be canceled automatically by such Lender as of the date of such acceleration or prepayment and, if theretofore paid, shall be credited by such Lender on the principal amount of the
Secured Obligations (or, to the extent that the principal amount of the Secured Obligations shall have been or would thereby be paid in full, refunded by such Lender to the Borrower). All sums paid or agreed to be paid to any Lender for the use,
forbearance or detention of sums due hereunder shall, to the extent permitted by law applicable to such Lender, be amortized, prorated, allocated and spread throughout the stated term of the Loans evidenced by the Notes until payment in full so that
the rate or amount of interest on account of any Loans hereunder does not exceed the maximum amount allowed by such applicable law. If at any time and from time to time (i) the amount of interest payable to any Lender on any date shall be
computed at the Highest Lawful Rate applicable to such Lender pursuant to this Section 12.12 and (ii) in respect of any subsequent interest computation period the amount of interest otherwise payable to such Lender would be less than the
amount of interest payable to such Lender computed at the Highest Lawful Rate applicable to such Lender, then the amount of interest payable to such Lender in respect of such subsequent interest computation period shall continue to be computed at
the Highest Lawful Rate applicable to such Lender until the total amount of interest payable to such Lender shall equal the total amount of interest which would have been payable to such Lender if the total amount of interest had been computed
without giving effect to this Section 12.12. To the extent that Chapter 303 of the Texas Finance Code is relevant for the purpose of determining the Highest Lawful Rate applicable to a Lender, such Lender elects to determine the applicable rate
ceiling under such Chapter by the weekly ceiling from time to time in effect. Chapter 346 of the Texas Finance Code does not apply to the Borrower’s obligations hereunder. 

Section 12.13. EXCULPATION PROVISIONS. EACH OF THE PARTIES HERETO SPECIFICALLY AGREES THAT IT HAS A DUTY TO READ THIS AGREEMENT
AND THE OTHER LOAN DOCUMENTS AND AGREES THAT IT IS CHARGED WITH NOTICE AND KNOWLEDGE OF THE TERMS OF THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS; THAT IT HAS IN FACT READ THIS AGREEMENT AND IS FULLY INFORMED AND HAS FULL NOTICE AND KNOWLEDGE OF THE
TERMS, CONDITIONS AND EFFECTS OF THIS AGREEMENT; THAT IT HAS BEEN REPRESENTED BY INDEPENDENT LEGAL COUNSEL OF ITS CHOICE THROUGHOUT THE NEGOTIATIONS PRECEDING ITS EXECUTION OF THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS; AND HAS RECEIVED THE ADVICE
OF ITS ATTORNEY IN ENTERING INTO THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS; AND THAT IT RECOGNIZES THAT CERTAIN OF THE TERMS OF THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS RESULT IN ONE PARTY ASSUMING THE 

  
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LIABILITY INHERENT IN SOME ASPECTS OF THE TRANSACTION AND RELIEVING THE OTHER PARTY OF ITS RESPONSIBILITY FOR SUCH LIABILITY. EACH PARTY HERETO AGREES AND COVENANTS THAT IT WILL NOT CONTEST THE
VALIDITY OR ENFORCEABILITY OF ANY EXCULPATORY PROVISION OF THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS ON THE BASIS THAT THE PARTY HAD NO NOTICE OR KNOWLEDGE OF SUCH PROVISION OR THAT THE PROVISION IS NOT “CONSPICUOUS.” 

Section 12.14. Collateral Matters; Swap Agreements and Secured Cash Management Agreements. The benefit of the Security Instruments
and of the provisions of this Agreement relating to any collateral securing the Secured Obligations shall also extend to and be available to the Secured Swap Providers with respect to any Secured Swap Obligations and any Secured Cash Management
Provider with respect to any Secured Cash Management Obligations, in each case on a pro rata basis (but subject to the terms of the Loan Documents, including, without limitation, provisions thereof relating to the application and priority of
payments to the Persons entitled thereto). No Secured Swap Provider or Secured Bank Products Provider shall have any voting rights under any Loan Document as a result of the existence of any Secured Swap Obligation or Secured Cash Management
Obligation owed to it. 
 Section 12.15. No Third Party Beneficiaries. This Agreement, the other Loan Documents, and the
agreement of the Lenders to make Loans and the Issuing Bank to issue, amend, renew or extend Letters of Credit hereunder are solely for the benefit of the Borrower, and no other Person (including, without limitation, any Subsidiary of the Borrower,
any obligor, contractor, subcontractor, supplier or materialsman) shall have any rights, claims, remedies or privileges hereunder or under any other Loan Document against the Administrative Agent, any other Agent, the Issuing Bank or any Lender for
any reason whatsoever. There are no third party beneficiaries. 
 Section 12.16. Flood Insurance. Notwithstanding any provision
in this Agreement, any Mortgage or other Loan Document to the contrary, in no event is any Building (as defined in the applicable Flood Insurance Regulation) or Manufactured (Mobile) Home (as defined in the applicable Flood Insurance Regulation)
included in the definition of “Mortgaged Property” and no Building or Manufactured (Mobile) Home is hereby encumbered by any Security Instrument or other Loan Document. As used herein, “Flood Insurance Regulations” shall mean
(i) the National Flood Insurance Act of 1968 as now or hereafter in effect or any successor statute thereto, (ii) the Flood Disaster Protection Act of 1973 as now or hereafter in effect or any successor statute thereto, (iii) the
National Flood Insurance Reform Act of 1994 (amending 42 USC 4001, et. seq.), as the same may be amended or recodified from time to time, and (iv) the Flood Insurance Reform Act of 2004 and any regulations promulgated thereunder. 

Section 12.17. USA Patriot Act Notice. Each Lender hereby notifies the Borrower that pursuant to the requirements of the PATRIOT
Act, it is required to obtain, verify and record information that identifies the Borrower, which information includes the name and address of the Borrower and other information that will allow such Lender to identify the Borrower in accordance with
the PATRIOT Act. 

  
 135 

 Section 12.18. Acknowledgement and Consent to
Bail-In EEA Financial Institutions. Notwithstanding anything to the contrary in any Loan Document or in any other agreement, arrangement or understanding among any such parties, each party hereto
acknowledges that any liability of any EEA Financial Institution arising under any Loan Document, to the extent such liability is unsecured, may be subject to the writedown and conversion powers of an EEA Resolution Authority and agrees and consents
to, and acknowledges and agrees to be bound by: 
 (a) the application of any Write-Down and Conversion Powers by an EEA Resolution Authority
to any such liabilities arising hereunder which may be payable to it by any party hereto that is an EEA Financial Institution; and 
 (b)
the effects of any Bail-in Action on any such liability, including, if applicable: 

(i) a reduction in full or in part or cancellation of any such liability; 

(ii) a conversion of all, or a portion of, such liability into shares or other instruments of ownership in such EEA Financial
Institution, its parent undertaking, or a bridge institution that may be issued to it or otherwise conferred on it, and that such shares or other instruments of ownership will be accepted by it in lieu of any rights with respect to any such
liability under this Agreement or any other Loan Document; or 
 (iii) the variation of the terms of such liability in
connection with the exercise of the write-down and conversion powers of any EEA Resolution Authority. 
 Section 12.19.
INTERCREDITOR AGREEMENT. 
 (a) EACH LENDER HEREBY (I) INSTRUCTS AND AUTHORIZES THE ADMINISTRATIVE AGENT TO EXECUTE AND DELIVER
THE INTERCREDITOR AGREEMENT ON ITS BEHALF, (II) AUTHORIZES AND DIRECTS THE ADMINISTRATIVE AGENT TO EXERCISE ALL OF THE ADMINISTRATIVE AGENT’S RIGHTS AND TO COMPLY WITH ALL OF ITS OBLIGATIONS UNDER THE INTERCREDITOR AGREEMENT,
(III) AGREES THAT THE ADMINISTRATIVE AGENT MAY TAKE ACTIONS ON ITS BEHALF AS IS CONTEMPLATED BY THE TERMS OF THE INTERCREDITOR AGREEMENT, AND (IV) UNDERSTANDS, ACKNOWLEDGES AND AGREES THAT AT ALL TIMES FOLLOWING THE EXECUTION AND DELIVERY
OF THE INTERCREDITOR AGREEMENT SUCH LENDER (AND EACH OF ITS SUCCESSORS AND ASSIGNS) SHALL BE BOUND BY THE TERMS THEREOF. 
 (b) EACH LENDER
ACKNOWLEDGES THAT IT HAS REVIEWED AND IS SATISFIED WITH THE TERMS AND PROVISIONS OF THE INTERCREDITOR AGREEMENT AND ACKNOWLEDGES AND AGREES THAT SUCH LENDER IS RESPONSIBLE FOR MAKING ITS OWN ANALYSIS AND REVIEW OF THE INTERCREDITOR AGREEMENT AND THE
TERMS AND PROVISIONS THEREOF, AND NO AGENT OR ANY OF ITS AFFILIATES MAKES ANY REPRESENTATION TO ANY LENDER AS TO THE SUFFICIENCY OR ADVISABILITY OF THE PROVISIONS CONTAINED IN THE LIEN INTERCREDITOR AGREEMENT. 

  
 136 

 Section 12.20. Reinstatement: Existing Credit Agreement; Reallocations. 

(a) The parties hereto agree that this Agreement amends and restates the Existing Credit Agreement in its entirety but does not novate or
discharge the Debt outstanding under the Existing Credit Agreement, which is amended and restated hereby, and under the promissory notes issued in connection with the Existing Credit Agreement (which are replaced in full by the Notes issued
hereunder). The parties hereto acknowledge and agree that, from and after the Effective Date, (i) this Agreement and the other Loan Documents shall replace the Existing Credit Agreement and the “Loan Documents” (as defined in the
Existing Credit Agreement) in their entirety and (ii) this Agreement and the other Loan Documents shall be the only operative agreements in effect with respect to the underlying Debt and other obligations. 

(b) The Lenders party to the Existing Credit Agreement have agreed among themselves to reallocate their respective Commitments (as defined in
the Existing Credit Agreement) as contemplated by this Agreement. On the Effective Date and after giving effect to such reallocation and adjustment of the Commitments, the Commitments of each Lender shall be as set forth on Annex I hereto and each
Lender shall own its Applicable Percentage of the outstanding Loans. The reallocation and adjustment to the Commitments of each Lender as contemplated by this Section 12.20(b) shall be deemed to have been consummated pursuant to the terms of
the Assignment and Assumption attached as Exhibit F hereto as if each of the Lenders had executed an Assignment and Assumption with respect to such reallocation and adjustment. The Borrower and the Administrative Agent hereby consent to such
reallocation and adjustment of the Commitments. The Administrative Agent hereby waives the processing and recordation fee set forth in Section 12.04 with respect to the assignments and reallocations of the Commitments contemplated by this
Section 12.20. 
 Section 12.21. Incremental Second Lien Facility Documents. 

(a) Each Lender hereby (i) approves the Incremental Second Lien Facility Documents and (ii) authorizes and directs the
Administrative Agent to execute and deliver a consent to the Intercreditor Agreement approving the Incremental Second Lien Facility Documents. 

(b) Each Lender acknowledges that it has reviewed and is satisfied with the terms and provisions of the Incremental Second Lien Facility
Documents and acknowledges and agrees that such Lender is responsible for making its own analysis and review of the Incremental Second Lien Facility Documents and the terms and provisions thereof, and no Agent or any of its Affiliates makes any
representation to any Lender as to the sufficiency or advisability of the provisions contained in the Incremental Second Lien Facility Documents. 

[SIGNATURES BEGIN NEXT PAGE] 

  
 137 

 The parties hereto have caused this Agreement to be duly executed as of the day and year first above
written. 
  

							
	BORROWER:	 		 	ENERGY VENTURES GOM LLC
				
		 		 	By:	 	/s/ John P. Wilkirson
		 		 	Name:	 	John P. Wilkirson
		 		 	Title:	 	Chief Financial Officer

  

							
	PARENT:	 		 	ENVEN ENERGY CORPORATION
				
		 		 	By:	 	/s/ John P. Wilkirson
		 		 	Name:	 	John P. Wilkirson
		 		 	Title:	 	Chief Financial Officer

 [Signature Page – Credit Agreement] 

							
	ADMINISTRATIVE AGENT:	 		 	BANK OF MONTREAL, as Administrative Agent
				
		 		 	By:	 	/s/ Gumaro Tijerina
		 		 	Name:	 	Gumaro Tijerina
		 		 	Title:	 	Managing Director

 [Signature Page – Credit Agreement] 

							
	LENDERS:	 		 	BMO HARRIS BANK, N.A.
				
		 		 	By:	 	/s/ Gumaro Tijerina
		 		 	Name:	 	Gumaro Tijerina
		 		 	Title:	 	Managing Director

 [Signature Page – Credit Agreement] 

							
	LENDERS:	 		 	KEYBANK NATIONAL ASSOCIATION
				
		 		 	By:	 	/s/ George E. McKean
		 		 	Name:	 	George E. McKean
		 		 	Title:	 	Senior Vice President

 [Signature Page – Credit Agreement] 

							
	LENDERS:	 		 	ABN AMRO CAPITAL USA LLC
				
		 		 	By:	 	/s/ Darrell Holley
		 		 	Name:	 	Darrell Holley
		 		 	Title:	 	Managing Director

							
				
		 		 	By:	 	/s/ David Montgomery
		 		 	Name:	 	David Montgomery
		 		 	Title:	 	Executive Director

 [Signature Page – Credit Agreement] 

							
	LENDERS:	 		 	IBERIABANK
				
		 		 	By:	 	/s/ Stacy Goldstein
		 		 	Name:	 	Stacy Goldstein
		 		 	Title:	 	Senior Vice President

 [Signature Page – Credit Agreement] 

							
	LENDERS:	 		 	UBS AG, STAMFORD BRANCH
				
		 		 	By:	 	/s/ Kenneth Chin
		 		 	Name:	 	Kenneth Chin
		 		 	Title:	 	 Director
 Banking Products Services,
US

							
				
		 		 	By:	 	/s/ Darlene Arias
		 		 	Name:	 	Darlene Arias
		 		 	Title:	 	Director

  
 Annex I - 1 

							
	LENDERS:	 		 	WHITNEY BANK
				
		 		 	By:	 	/s/ Liana Tchernysheva
		 		 		 	Liana Tchernysheva
		 		 		 	Senior Vice President

 [Signature Page – Credit Agreement] 

 ANNEX I 

LIST OF MAXIMUM CREDIT AMOUNTS 

Aggregate Maximum Credit Amounts 
  

													
	 Name of Lender
	  	Elected
Commitment	 	  	Applicable
Percentage	 	 	Maximum Credit
Amount	 
	 BMO Harris Bank N.A.
	  	$	50,000,000.00	 	  	 	22.7273	% 	 	$	113,636,363.64	 
	 KeyBank National Association
	  	$	50,000,000.00	 	  	 	22.7273	% 	 	$	113,636,363.64	 
	 ABN AMRO Capital USA LLC
	  	$	50,000,000.00	 	  	 	22.7273	% 	 	$	113,636,363.64	 
	 IBERIABANK
	  	$	25,000,000.00	 	  	 	11.3636	% 	 	$	56,818,181.82	 
	 UBS AG, Stamford Branch
	  	$	25,000,000.00	 	  	 	11.3636	% 	 	$	56,818,181.82	 
	 Whitney Bank
	  	$	20,000,000.00	 	  	 	9.0909	% 	 	$	45,454,545.45	 
	 TOTAL
	  	$	220,000,000.00	 	  	 	100.0000	% 	 	$	500,000,000	 

  
 Annex I - 1 

 EXHIBIT A 

FORM OF NOTE 
  

			
	$[            ]	  	[            ], 201[    ]

 FOR VALUE RECEIVED, Energy Ventures GoM LLC, a Delaware limited liability company (the “Borrower”) hereby
promises to pay to [                ] (the “Lender”), at the principal office of Bank of Montreal (the “Administrative Agent”), at 700
Louisiana Street, Suite 2100, Houston, Texas 77002, the principal sum of [                ] Dollars
($[                ]) (or such lesser amount as shall equal the aggregate unpaid principal amount of the Loans made by the Lender to the Borrower under the Credit
Agreement, as hereinafter defined), in lawful money of the United States of America and in immediately available funds, on the dates and in the principal amounts provided in the Credit Agreement, and to pay interest on the unpaid principal amount of
each such Loan, at such office, in like money and funds, for the period commencing on the date of such Loan until such Loan shall be paid in full, at the rates per annum and on the dates provided in the Credit Agreement. 

The date, amount, Type, interest rate, Interest Period and maturity of each Loan made by the Lender to the Borrower, and each payment made on account of the
principal thereof, shall be recorded by the Lender on its books and, prior to any transfer of this Note, may be endorsed by the Lender on the schedules attached hereto or any continuation thereof or on any separate record maintained by the Lender.
Failure to make any such notation or to attach a schedule shall not affect any Lender’s or the Borrower’s rights or obligations in respect of such Loans or affect the validity of such transfer by any Lender of this Note. 

This Note is one of the Notes referred to in the Amended and Restated Credit Agreement dated as of December 30, 2016 among the Borrower, EnVen Energy
Corporation, the Administrative Agent, and the other agents and lenders signatory thereto (including the Lender), and evidences Loans made by the Lender thereunder (such Amended and Restated Credit Agreement as the same may be amended, supplemented
or restated from time to time, the “Credit Agreement”). Capitalized terms used in this Note have the respective meanings assigned to them in the Credit Agreement. 

This Note is issued pursuant to, and is subject to the terms and conditions set forth in, the Credit Agreement and is entitled to the benefits provided for in
the Credit Agreement and the other Loan Documents. The Credit Agreement provides for the acceleration of the maturity of this Note upon the occurrence of certain events, for prepayments of Loans upon the terms and conditions specified therein and
other provisions relevant to this Note. 
 THIS NOTE SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK. 

  
 Exhibit A - 1 

 
			
	ENERGY VENTURES GOM LLC

 
			
		
	By: 	 	 
	Name:	 	
	Title:	 	

  
 Exhibit A - Page 2 

 EXHIBIT B 

FORM OF BORROWING REQUEST 

[                ], 201[    ] 

Energy Ventures GoM LLC, a Delaware limited liability company (the “Borrower”), pursuant to Section 2.03 of the Amended and Restated
Credit Agreement dated as of December 30, 2016 (together with all amendments, restatements, supplements or other modifications thereto, the “Credit Agreement”) among the Borrower, EnVen Energy Corporation, Bank of Montreal, as
Administrative Agent and the other agents and lenders (the “Lenders”) which are or become parties thereto (unless otherwise defined herein, each capitalized term used herein is defined in the Credit Agreement), hereby requests a
Borrowing as follows: 
 (i) Aggregate amount of the requested Borrowing is
$[                ]; 
 (ii) Date of such Borrowing is
[                ], 201[    ]; 
 (iii) Requested
Borrowing is to be [an ABR Borrowing] [a Eurodollar Borrowing]; 
 (iv) In the case of a Eurodollar Borrowing, the initial Interest Period applicable
thereto is [                ]; 
 (v) Amount of Borrowing Base in effect on
the date hereof is $[                ]; 
 (vi) Total Revolving Credit
Exposures on the date hereof (i.e., outstanding principal amount of Loans and total LC Exposure) is $[                ]; 

(vii) Pro forma total Revolving Credit Exposures (giving effect to the requested Borrowing) is
$[                ]; and 
 (viii) Location and number of the
Borrower’s account to which funds are to be disbursed, which shall comply with the requirements of Section 2.05 of the Credit Agreement, is as follows: 

[                          
      ] 

[                          
      ] 
 The undersigned certifies that he/she is the
[                 ] of the Borrower, and that as such he/she is authorized to execute this certificate on behalf of the Borrower. The undersigned further certifies,
represents and warrants on behalf of the Borrower that the Borrower is entitled to receive the requested Borrowing under the terms and conditions of the Credit Agreement. 

 

			
	ENERGY VENTURES GOM LLC

  

			
	By:	 	 

 
			
	Name:	 	
	Title:	 	

  
 Exhibit B - 1 

 EXHIBIT C 

FORM OF INTEREST ELECTION REQUEST 

[                 ], 201[    ] 

Energy Ventures GoM LLC, a Delaware limited liability company (the “Borrower”), pursuant to Section 2.04 of the Amended and Restated
Credit Agreement dated as of December 30, 2016 (together with all amendments, restatements, supplements or other modifications thereto, the “Credit Agreement”) among the Borrower, EnVen Energy Corporation, Bank of Montreal, as
Administrative Agent and the other agents and lenders (the “Lenders”) which are or become parties thereto (unless otherwise defined herein, each capitalized term used herein is defined in the Credit Agreement), hereby makes an
Interest Election Request as follows: 
 (i) The Borrowing to which this Interest Election Request applies, and if different options are being elected with
respect to different portions thereof, the portions thereof to be allocated to each resulting Borrowing (in which case the information specified pursuant to (iii) and (iv) below shall be specified for each resulting Borrowing) is
[                 ]; 
 (ii) The effective date of the election made
pursuant to this Interest Election Request is [                ], 201[    ];[and] 

(iii) The resulting Borrowing is to be [an ABR Borrowing] [a Eurodollar Borrowing][; and] 

[(iv) [If the resulting Borrowing is a Eurodollar Borrowing] The Interest Period applicable to the resulting Borrowing after giving effect to such election is
[                 ]]. 
 The undersigned certifies that he/she is the
[                 ] of the Borrower, and that as such he/she is authorized to execute this certificate on behalf of the Borrower. The undersigned further certifies,
represents and warrants on behalf of the Borrower that the Borrower is entitled to receive the requested continuation or conversion under the terms and conditions of the Credit Agreement. 

 

			
	ENERGY VENTURES GOM LLC

 
			
		
	By:	 	 

 
			
	Name:	 	

 
			
	Title:	 	

  
 Exhibit C - 1 

 EXHIBIT D 

FORM OF 
 COMPLIANCE
CERTIFICATE 
 The undersigned hereby certifies that he/she is the
[                ] of Energy Ventures GoM LLC, a Delaware limited liability company (the “Borrower”), and that as such he/she is authorized to execute
this certificate on behalf of the Borrower. With reference to the Amended and Restated Credit Agreement dated as of December 30, 2016 (together with all amendments, restatements, supplements or other modifications thereto being the
“Agreement”) among the Borrower, EnVen Energy Corporation, Bank of Montreal, as Administrative Agent, and the other agents and lenders (the “Lenders”) which are or become a party thereto, and such Lenders, the
undersigned represents and warrants as follows (each capitalized term used herein having the same meaning given to it in the Agreement unless otherwise specified): 

(a) Since December 31, 2015, no change has occurred, either in any case or in the aggregate, in the condition, financial or otherwise, of the Borrower or
any Subsidiary which could reasonably be expected to have a Material Adverse Effect [or specify event]. 
 (b) There exists no Default or Event of Default
[or specify Default and describe]. 
 (c) Attached hereto are the detailed computations necessary to determine whether the Borrower is in compliance with
Section 9.01 as of the end of the [fiscal quarter][fiscal year] ending [                ]. 

(d) No change in GAAP or in the application thereof has occurred since the date of the Financial Statements [or specify change in GAAP or its application and
describe]. 
 (e) Attached hereto is the information regarding the calculation of Consolidated Net Income and EBITDAX. 

(f) Attached hereto is the consolidating information explaining in reasonable detail the differences between the information relating to the Parent and its
Consolidated Subsidiaries, on the one hand, and the information relating to the Borrower and its Consolidated Subsidiaries on a standalone basis, on the other hand. 

EXECUTED AND DELIVERED this [                ] day of
201[    ]. 
  

			
	ENERGY VENTURES GOM LLC

 
			
		
	By:	 	 

 
			
	Name:	 	

 
			
	Title:	 	

  
 Exhibit D - 1 

 EXHIBIT E 

SECURITY INSTRUMENTS 
 1) Amended and
Restated Guarantee and Collateral Agreement dated as of December 30, 2016 by the Borrower and each of the other Grantors (as defined therein) party thereto, in favor of the Administrative Agent and the secured parties named
therein.     
 2) Stock Powers delivered in respect of the Pledged Securities (if any). 

3) Mortgage, Deed of Trust, Assignment of As-Extracted Collateral, Security Agreement, Fixture Filing and Financing
Statement dated as of July 29, 2014 from EnVen Energy Ventures, LLC, a Louisiana limited liability company, as mortgagor, in favor of Gumaro Tijerina, as Trustee, for the benefit the Bank of Montreal, as Administrative Agent, filed as follows:

  

					
	 JURISDICTION
	  	 FILING INFORMATION
	  	 FILE DATE

	Cameron Parish, Louisiana	  	#333629; Mortgage Book	  	8/15/14
			
	Iberia Parish, Louisiana	  	#2014-00008057, Mortgage	  	8/18/14
		  	Book 1619, Page 533	  	
			
	Lafourche Parish, Louisiana	  	#1183254, Mortgage Book	  	8/18/14
		  	1682, Page 71	  	
			
	Plaquemines Parish, Louisiana	  	#2014-00003300, Mortgage	  	8/12/14
		  	Book 647, Page 684	  	
			
	St. Mary Parish, Louisiana	  	#325626, Mortgage Book	  	8/11/14
		  	1410, Page 6	  	
			
	Terrebonne Parish, Louisiana	  	#1460558, Mortgage Book	  	8/12/14
		  	2676, Page 448	  	
			
	Vermilion Parish, Louisiana	  	#2014007853	  	8/15/14
			
	Brazoria County, Texas	  	#2014035887	  	8/21/14
			
	Chambers County, Texas	  	Volume 1510, Page 698	  	8/13/14
			
	Galveston County, Texas	  	#2014046291	  	8/15/14
			
	Jefferson County, Texas	  	#2014026268	  	8/14/14
			
	Matagorda County, Texas	  	#2014-4371	  	8/12/14
			
	Nueces County, Texas	  	#2014033186	  	8/27/14

  
 Exhibit E - 1 

					
	 JURISDICTION
	  	 FILING INFORMATION
	  	 FILE DATE

	BOEM	  	OCS-G-16224, 20605, 21108, 25966, 26033, 27030, 27083, 27535, 31290, 31322, 33674, 34318, 34324, 34344, 34787, 34835	  	8/21/14
			
	BOEM (re-filed to correct leases)	  	OCS-G-479, 1477, 1572, 2006, 2638, 2639, 2643, 3061, 3171, 3587, 4800, 6921, 9383, 9384, 9386, 9387, 10942, 12951, 13091, 14586, 15740, 15282, 16201,
16432, 16455, 16469, 16549, 17888, 17921, 33088, 33617, 34224, 34317, 34815, 35108, 35109, 35300, 35307, 35383	  	5/15/15

 4) First Amendment and Supplement to Mortgage, Deed of Trust, Assignment of
As-Extracted Collateral, Security Agreement, Fixture Filing and Financing Statement effective as of July 29, 2014 between EnVen Energy Ventures, LLC and Bank of Montreal, as Administrative Agent, filed as
follows: 
  

					
	 JURISDICTION
	  	 FILING INFORMATION
	  	 FILE DATE

	Cameron Parish, Louisiana	  	#333808	  	9/3/14
			
	Iberia Parish, Louisiana	  	 #2014-00008788, Mortgage Book 1623,
 Page
286
	  	9/8/14
			
	Lafourche Parish, Louisiana	  	#1184739, Book 1686, Page 276	  	9/11/14
			
	Plaquemines Parish, Louisiana	  	 #2014-00003649, Mortgage Book 649,
 Page
313
	  	9/2/14
			
	St. Mary Parish, Louisiana	  	#325959, Mortgage Book 1412, Page 393	  	9/2/14
			
	Terrebonne Parish, Louisiana	  	#1462145, Mortgage Book 2682, Page 281	  	9/4/14
			
	Vermilion Parish, Louisiana	  	#2014008484	  	9/4/14

  
 Exhibit E - 2 

					
	 JURISDICTION
	  	 FILING INFORMATION
	  	 FILE DATE

	Brazoria County, Texas	  	#2014039344	  	9/12/14
			
	Chambers County, Texas	  	Volume 1516, Page 114	  	9/5/14
			
	Galveston County, Texas	  	#2014051107	  	9/8/14
			
	Jefferson County, Texas	  	#2014028872	  	9/8/14
			
	Matagorda County, Texas	  	#2014-4919	  	9/5/14

 5) Second Amendment and Supplement to Mortgage, Deed of Trust, Assignment of As- Extracted Collateral, Security Agreement,
Fixture Filing and Financing Statement effective as of January 5, 2016 between EnVen Energy Ventures, LLC and Bank of Montreal, as Administrative Agent, filed as follows: 

 

					
	 JURISDICTION
	  	 FILING INFORMATION
	  	 FILE DATE

	Cameron Parish, Louisiana	  	#337790	  	2/1/16
			
	Iberia Parish, Louisiana	  	#2016-00001141, MOB 1692, Page 301	  	2/5/16
			
	Lafourche Parish, Louisiana	  	#1213614, MOB 1765, Page 860	  	2/5/16
			
	Plaquemines Parish, Louisiana	  	#2016-00000346, MOB 678, Page 439	  	1/28/16
			
	St. Mary Parish, Louisiana	  	#333219, MOB 1462, Page 506	  	1/29/16
			
	Terrebonne Parish, Louisiana	  	#1499675, MOB 2804, Page 529	  	2/2/16
			
	Vermilion Parish, Louisiana	  	#2016001053	  	2/2/16
			
	Brazoria County, Texas	  	#2016003990	  	1/28/16
			
	Chambers County, Texas	  	Volume 1627, Page 162	  	1/28/16
			
	Galveston County, Texas	  	#2016005340	  	1/29/16
			
	Jefferson County, Texas	  	#2016002709	  	1/28/16

  
 Exhibit E - 3 

					
	 JURISDICTION
	  	 FILING INFORMATION
	  	 FILE DATE

	Matagorda County, Texas	  	#2016-479	  	1/27/16
			
	Nueces County, Texas	  	#2016004081	  	2/1/16
			
	BOEM	  	OCS-G-10944, 12119, 12136, 12139, 13075, 13084, 13988	  	1/29/16

 6) Third Amendment and Supplement to Mortgage, Deed of Trust, Assignment of As- Extracted Collateral, Security Agreement,
Fixture Filing and Financing Statement effective as of December 30, 2016 between EnVen Energy Ventures, LLC and Bank of Montreal, as Administrative Agent. 

7) Mortgage, Deed of Trust, Assignment of As-Extracted Collateral, Security Agreement, Fixture Filing and Financing
Statement dated as of July 29, 2014 from Tarpon Operating & Development, L.L.C., a Texas limited liability company, as mortgagor, in favor of Gumaro Tijerina, as Trustee, for the benefit of Bank of Montreal, as Administrative Agent,
filed as follows: 
  

					
	 JURISDICTION
	  	 FILING INFORMATION
	  	 FILE DATE

	Cameron Parish, Louisiana	  	#333630; Mortgage Book	  	8/15/14
			
	Iberia Parish, Louisiana	  	 #2014-00008058, Mortgage Book 1619,
 Page
574
	  	8/18/14
			
	Plaquemines Parish, Louisiana	  	#2014-00003301, Mortgage Book 647, Page 725	  	8/12/14
			
	St. Mary Parish, Louisiana	  	#325627, Mortgage Book 1410, Page 47	  	8/11/14
			
	Terrebonne Parish, Louisiana	  	#1460559, Mortgage Book 2676, Page 489	  	8/12/14
			
	Vermilion Parish, Louisiana	  	#2014007854	  	8/15/14
			
	Aransas County, Texas	  	#336904	  	8/15/14
			
	Brazoria County, Texas	  	#2014035888	  	8/21/14
			
	Calhoun County, Texas	  	#140019	  	8/13/14
			
	Chambers County, Texas	  	Volume 1511, Page 73	  	8/13/14

  
 Exhibit E - 4 

					
	 JURISDICTION
	  	 FILING INFORMATION
	  	 FILE DATE

	Galveston County, Texas	  	#2014046294	  	8/15/14
			
	Jefferson County, Texas	  	#2014026271	  	8/14/14
			
	Nueces County, Texas	  	#2014033187	  	8/27/14
			
	San Patricio County, Texas	  	#639858	  	8/15/14
			
	BOEM	  	OCS-G-479, 1477, 1572, 2006, 2638, 2639, 2643, 3061, 3171, 3587, 4800, 6921, 9383, 9384, 9386, 9387, 10942, 12951, 13091, 14586, 15740, 15282, 16201,
16432, 16455, 16469, 16549, 17888, 17921, 33088, 33617, 34224, 34317, 34815, 35108, 35109, 35300, 35307, 35383	  	8/21/14
			
	BOEM (re-filed to correct leases)	  	OCS-G-16224, 20605, 21108, 25966, 26033, 27030, 27083, 27535, 31290, 31322, 33674, 34318, 34324, 34344, 34787, 34835	  	5/15/15

 8) First Amendment and Supplement to Mortgage, Deed of Trust, Assignment of
As-Extracted Collateral, Security Agreement, Fixture Filing and Financing Statement effective as of July 29, 2014 from Tarpon Operating & Development, L.L.C. for the benefit of Bank of Montreal,
as Administrative Agent, filed as follows: 
  

					
	 JURISDICTION
	  	 FILING INFORMATION
	  	 FILE DATE

	Cameron Parish, Louisiana	  	#333807	  	9/3/14
			
	Iberia Parish, Louisiana	  	 #2014-00008789, Mortgage Book 1623,
 Page
319
	  	9/8/14
			
	Plaquemines Parish, Louisiana	  	 #2014-00003648, Mortgage Book 649,
 Page
299
	  	9/2/14
			
	St. Mary Parish, Louisiana	  	#325958, Mortgage Book 1412, Page 379	  	9/2/14

  
 Exhibit E - 5 

					
	 JURISDICTION
	  	 FILING INFORMATION
	  	 FILE DATE

	Terrebonne Parish, Louisiana	  	#1462146, Mortgage Book 2682, Page 314	  	9/4/14
			
	Vermilion Parish, Louisiana	  	#2014008485	  	9/4/14
			
	Aransas County, Texas	  	#337406	  	9/15/14
			
	Brazoria County, Texas	  	#2014039342	  	9/12/14
			
	Calhoun County, Texas	  	#140370	  	9/8/14
			
	Chambers County, Texas	  	Volume 1516, Page 100	  	9/5/14
			
	Galveston County, Texas	  	#2014051106	  	9/8/14
			
	Jefferson County, Texas	  	#2014028871	  	9/8/14
			
	San Patricio County, Texas	  	#640445	  	9/9/14

 9) Second Amendment and Supplement to Mortgage, Deed of Trust, Assignment of
As-Extracted Collateral, Security Agreement, Fixture Filing and Financing Statement effective as of January 5, 2016 between EnVen Energy Ventures, LLC (successor in interest to Tarpon Operating &
Development, L.L.C.) and Bank of Montreal, as Administrative Agent, filed as follows: 
  

					
	 JURISDICTION
	  	 FILING INFORMATION
	  	 FILE DATE

	Cameron Parish, Louisiana	  	#337791	  	2/1/16
			
	Iberia Parish, Louisiana	  	#2016-00001142, MOB 1692, Page 321	  	2/5/16
			
	Plaquemines Parish, Louisiana	  	#2016-00000347, MOB 678, Page 459	  	1/28/16
			
	St. Mary Parish, Louisiana	  	#333220, MOB 1462, Page 526	  	1/29/16
			
	Terrebonne Parish, Louisiana	  	#1499676, MOB 2804, Page 549	  	2/2/16
			
	Vermilion Parish, Louisiana	  	#2016001054	  	2/2/16

  
 Exhibit E - 6 

					
	 JURISDICTION
	  	 FILING INFORMATION
	  	 FILE DATE

	Aransas County, Texas	  	#346211	  	1/29/16
			
	Brazoria County, Texas	  	#2016003991	  	1/28/16
			
	Calhoun County, Texas	  	#146352	  	1/28/16
			
	Chambers County, Texas	  	Volume 1627, Page 190	  	1/28/16
			
	Galveston County, Texas	  	#2016005342	  	1/29/16
			
	Jefferson County, Texas	  	#2016002706	  	1/28/16
			
	Nueces County, Texas	  	#2016004082	  	2/1/16
			
	San Patricio County, Texas	  	#653749	  	1/29/16
			
	BOEM	  	OCS-G-00900, 16224, 20605, 21108, 25966, 26033, 27030, 27083, 27535, 31290, 31322, 33674, 34318, 34324, 34344, 34787 and 34835	  	1/29/16

 10) Third Amendment and Supplement to Mortgage, Deed of Trust, Assignment of
As-Extracted Collateral, Security Agreement, Fixture Filing and Financing Statement effective as of December 30, 2016 between EnVen Energy Ventures, LLC (successor in interest to Tarpon
Operating & Development, L.L.C.) and Bank of Montreal, as Administrative Agent. 
 11) Mortgage, Deed of Trust, Assignment of As-Extracted Collateral, Security Agreement, Fixture Filing and Financing Statement dated as of July 29, 2014 from Tarpon Offshore, L.P., a Delaware limited partnership, as mortgagor, in favor of Gumaro
Tijerina, as Trustee, for the benefit of Bank of Montreal, as Administrative Agent, filed as follows: 
  

					
	 JURISDICTION
	  	 FILING INFORMATION
	  	 FILE DATE

	Cameron Parish, Louisiana	  	#333631; Mortgage Book	  	8/15/14
			
	Iberia Parish, Louisiana	  	 #2014-00008059, Mortgage Book 1619,
 Page
634
	  	8/18/14
			
	St. Mary Parish, Louisiana	  	#325628, Mortgage Book 1410, Page 107	  	8/11/14
			
	Terrebonne Parish, Louisiana	  	#1460560, Mortgage Book 2676, Page 549	  	8/12/14

  
 Exhibit E - 7 

					
	 JURISDICTION
	  	 FILING INFORMATION
	  	 FILE DATE

	Vermilion Parish, Louisiana	  	#2014007855	  	8/15/14
			
	Brazoria County, Texas	  	#2014035890	  	8/21/14
			
	Chambers County, Texas	  	Volume 1511, Page 1	  	8/13/14
			
	Galveston County, Texas	  	#2014046292	  	8/15/14
			
	Jefferson County, Texas	  	#2014026269	  	8/14/14
			
	BOEM	  	OCS-G-16224, 21108, 25966, 26033, 27030, 27083, 27535, 31290, 31322, 32112, 32113	  	8/21/14

 12) First Amendment and Supplement to Mortgage, Deed of Trust, Assignment of
As-Extracted Collateral, Security Agreement, Fixture Filing and Financing Statement dated as of January 5, 2016 between EnVen Energy Ventures, LLC (successor in interest to Tarpon Offshore, L.P.) and Bank
of Montreal, as Administrative Agent, filed as follows: 
  

					
	 JURISDICTION
	  	 FILING INFORMATION
	  	 FILE DATE

	Cameron Parish, Louisiana	  	#337792	  	2/1/16
			
	Iberia Parish, Louisiana	  	#2016-00001143, MOB 1692, Page 334	  	2/5/16
			
	St. Mary Parish, Louisiana	  	#333221, MOB 1462, Page 539	  	1/29/16
			
	Terrebonne Parish, Louisiana	  	#1499677, MOB 2804, Page 562	  	2/2/16
			
	Vermilion Parish, Louisiana	  	#2016001055	  	2/2/16
			
	Brazoria County, Texas	  	#2016003992	  	1/28/16
			
	Chambers County, Texas	  	Volume 1627, Page 182	  	1/28/16
			
	Galveston County, Texas	  	#2016005341	  	1/29/16
			
	Jefferson County, Texas	  	#2016002708	  	1/28/16
			
	BOEM	  	OCS-G-16224, 21108, 25966, 26033, 27030, 27083, 27535, 31290, 31322, 32112, 32113	  	1/29/16

  
 Exhibit E - 8 

 13) Second Amendment and Supplement to Mortgage, Deed of Trust, Assignment of
As-Extracted Collateral, Security Agreement, Fixture Filing and Financing Statement dated as of December 30, 2016 between EnVen Energy Ventures, LLC (successor in interest to Tarpon Offshore, L.P.) and
Bank of Montreal, as Administrative Agent. 
 14) Mortgage, Deed of Trust, Assignment of As-Extracted Collateral,
Security Agreement, Fixture Filing and Financing Statement dated as of July 29, 2014 from Tarpon Offshore Ventures, LP, a Texas limited partnership, as mortgagor, in favor of Gumaro Tijerina, as Trustee, for the benefit of Bank of Montreal, as
Administrative Agent, filed as follows: 
  

					
	 JURISDICTION
	  	 FILING INFORMATION
	  	 FILE DATE

	Cameron Parish, Louisiana	  	#333632; Mortgage Book	  	8/15/14
			
	Brazoria County, Texas	  	#2014035889	  	8/21/14
			
	Chambers County, Texas	  	Volume 1511, Page 37	  	8/13/14
			
	Galveston County, Texas	  	#2014046293	  	8/15/14
			
	Jefferson County, Texas	  	#2014026270	  	8/14/14
			
	BOEM	  	OCS-G-00900*	  	8/21/14

 15) First Amendment and Supplement to Mortgage, Deed of Trust, Assignment of
As-Extracted Collateral, Security Agreement, Fixture Filing and Financing Statement dated as of December 30, 2016 between EnVen Energy Ventures, LLC (successor in interest to Tarpon Offshore Ventures, LP)
and Bank of Montreal, as Administrative Agent. 

  
 Exhibit E - 9 

 16) Mortgage, Deed of Trust, Assignment of As-Extracted Collateral,
Security Agreement, Fixture Filing and Financing Statement dated as of January 5, 2016 from EnVen Energy Ventures, LLC to Bank of Montreal, as Administrative Agent, filed as follows: 

 

					
	 JURISDICTION
	  	 FILING INFORMATION
	  	 FILE DATE

	Baldwin County, Alabama	  	#1554621	  	2/4/16
			
	Mobile County, Alabama	  	#2016005947, Book LR 7345, Page 51	  	2/5/16

 17) The Amended and Restated Intercreditor Agreement. 

18) Deposit Account Control Agreement dated as of September 22, 2014 by and among EnVen Energy Ventures, LLC, Bank of Montreal, in its capacity as First
Lien Agent and Second Lien Agent, and IBERIA Bank. 

  
 Exhibit E - 10 

 EXHIBIT F 

FORM OF ASSIGNMENT AND ASSUMPTION 

This Assignment and Assumption (the “Assignment and Assumption”) is dated as of the Effective Date set forth below and is
entered into by and between [Insert name of Assignor] (the “Assignor”) and [Insert name of Assignee] (the “Assignee”). Capitalized terms used but not defined herein shall have the meanings given to them in the
Amended and Restated Credit Agreement identified below (as amended, the “Credit Agreement”), receipt of a copy of which is hereby acknowledged by the Assignee. The Standard Terms and Conditions set forth in Annex 1 attached hereto
are hereby agreed to and incorporated herein by reference and made a part of this Assignment and Assumption as if set forth herein in full. 

For an agreed consideration, the Assignor hereby irrevocably sells and assigns to the Assignee, and the Assignee hereby irrevocably purchases
and assumes from the Assignor, subject to and in accordance with the Standard Terms and Conditions and the Credit Agreement, as of the Effective Date inserted by the Administrative Agent as contemplated below (i) all of the Assignor’s
rights and obligations in its capacity as a Lender under the Credit Agreement and any other documents or instruments delivered pursuant thereto to the extent related to the amount and percentage interest identified below of all of such outstanding
rights and obligations of the Assignor under the respective facilities identified below (including any letters of credit and guarantees included in such facilities) and (ii) to the extent permitted to be assigned under applicable law, all
claims, suits, causes of action and any other right of the Assignor (in its capacity as a Lender) against any Person, whether known or unknown, arising under or in connection with the Credit Agreement, any other documents or instruments delivered
pursuant thereto or the loan transactions governed thereby or in any way based on or related to any of the foregoing, including contract claims, tort claims, malpractice claims, statutory claims and all other claims at law or in equity related to
the rights and obligations sold and assigned pursuant to clause (i) above (the rights and obligations sold and assigned pursuant to clauses (i) and (ii) above being referred to herein collectively as the “Assigned
Interest”). Such sale and assignment is without recourse to the Assignor and, except as expressly provided in this Assignment and Assumption, without representation or warranty by the Assignor. 

 

					
	1.	  	Assignor:	  	                                      
                              
			
	2.	  	Assignee:	  	                                      
                              
		  		  	[and is an Affiliate/Approved Fund of [identify Lender]1]
			
	3.	  	Borrower:	  	Energy Ventures GoM LLC
			
	4.	  	Administrative Agent:	  	Bank of Montreal, as the administrative agent under the Credit Agreement

  

	1 	 Select as applicable. 

  
 Exhibit F - 1 

					
	5.	  	Credit Agreement:	  	The Amended and Restated Credit Agreement dated as of December 30, 2016 among the Borrower, EnVen Energy Corporation, the Lenders parties thereto, the Administrative Agent and the other agents parties thereto
			
	6.	  	Assigned Interest:	  	

  

							
	 Commitment

Assigned
	  	Aggregate Amount
of
Commitment/Loans
for all Lenders	  	Amount of
Commitment/Loans
Assigned	  	Percentage Assigned of
Commitment/Loans2 
		  	$	  	$	  	    %
		  	$	  	$	  	    %
		  	$	  	$	  	    %

 Effective Date:    _____________ ___, 201___ [TO BE INSERTED BY ADMINISTRATIVE AGENT AND WHICH SHALL BE
THE EFFECTIVE DATE OF RECORDATION OF TRANSFER IN THE REGISTER THEREFOR.] 
  

	2 	 Set forth, to at least 9 decimals, as a percentage of the Commitment/Loans of all Lenders thereunder.

  
 Exhibit F - 2 

 The terms set forth in this Assignment and Assumption are hereby agreed to: 

 

			
	ASSIGNOR
	
	[NAME OF ASSIGNOR]
		
	By:	 	 
	Title:	 	
	
	ASSIGNEE
	
	[NAME OF ASSIGNEE]
		
	By:	 	 
	Title:	 	

  
 Exhibit F - 3 

 [Consented to and]3 Accepted: 

BANK OF MONTREAL, as Administrative Agent 

			
		
	By	 	 
	Name:	 	
	Title:	 	

 [Consented to:]4 

BANK OF MONTREAL, as Issuing Bank 

			
		
	By	 	 
	Name:	 	
	Title:	 	

 [Consented to:]5 

ENERGY VENTURES GOM LLC 

			
		
	By	 	 
	Name:	 	
	Title:	 	

  

	3 	 To be added only if the consent of the Administrative Agent is required by the terms of the Credit Agreement.

	4 	 To be added only if the consent of the Borrower and/or other parties (e.g. Issuing Bank) is required by the
terms of the Credit Agreement. 

	5 	 To be added only if the consent of the Borrower and/or other parties (e.g. Issuing Bank) is required by the
terms of the Credit Agreement. 

  
 Exhibit F - 4 

 ANNEX 1 

STANDARD TERMS AND CONDITIONS FOR 

ASSIGNMENT AND ASSUMPTION 
 1.
Representations and Warranties. 
 1.1 Assignor. The Assignor (a) represents and warrants that (i) it is the legal and
beneficial owner of the Assigned Interest, (ii) the Assigned Interest is free and clear of any lien, encumbrance or other adverse claim and (iii) it has full power and authority, and has taken all action necessary, to execute and deliver
this Assignment and Assumption and to consummate the transactions contemplated hereby; and (b) assumes no responsibility with respect to (i) any statements, warranties or representations made in or in connection with the Credit Agreement
or any other Loan Document, (ii) the execution, legality, validity, enforceability, genuineness, sufficiency or value of the Loan Documents or any collateral thereunder, (iii) the financial condition of the Borrower, any of its
Subsidiaries or Affiliates or any other Person obligated in respect of any Loan Document or (iv) the performance or observance by the Borrower, any of its Subsidiaries or Affiliates or any other Person of any of their respective obligations
under any Loan Document. 
 1.2. Assignee. The Assignee (a) represents and warrants that (i) it has full power and
authority, and has taken all action necessary, to execute and deliver this Assignment and Assumption and to consummate the transactions contemplated hereby and to become a Lender under the Credit Agreement, (ii) it satisfies the requirements,
if any, specified in the Credit Agreement that are required to be satisfied by it in order to acquire the Assigned Interest and become a Lender, (iii) from and after the Effective Date, it shall be bound by the provisions of the Credit
Agreement as a Lender thereunder and, to the extent of the Assigned Interest, shall have the obligations of a Lender thereunder, (iv) it has received a copy of the Credit Agreement, together with copies of the most recent financial statements
delivered pursuant to Section 8.01 thereof, as applicable, and such other documents and information as it has deemed appropriate to make its own credit analysis and decision to enter into this Assignment and Assumption and to purchase the
Assigned Interest on the basis of which it has made such analysis and decision independently and without reliance on the Administrative Agent or any other Lender, and (v) if it is a Foreign Lender, attached to the Assignment and Assumption is
any documentation required to be delivered by it pursuant to the terms of the Credit Agreement, duly completed and executed by the Assignee; and (b) agrees that (i) it will, independently and without reliance on the Administrative Agent,
the Assignor or any other Lender, and based on such documents 
 and information as it shall deem appropriate at the time, continue to make its own credit
decisions in taking or not taking action under the Loan Documents, and (ii) it will perform in accordance with their terms all of the obligations which by the terms of the Loan Documents are required to be performed by it as a Lender. 

  
 Exhibit F - 5 

 2. Payments. From and after the Effective Date, the Administrative Agent shall make
all payments in respect of the Assigned Interest (including payments of principal, interest, fees and other amounts) to the Assignor for amounts which have accrued to but excluding the Effective Date and to the Assignee for amounts which have
accrued from and after the Effective Date. 
 3. General Provisions. This Assignment and Assumption shall be binding upon, and inure
to the benefit of, the parties hereto and their respective successors and assigns. This Assignment and Assumption may be executed in any number of counterparts, which together shall constitute one instrument. Delivery of an executed counterpart of a
signature page of this Assignment and Assumption by telecopy shall be effective as delivery of a manually executed counterpart of this Assignment and Assumption. This Assignment and Assumption shall be governed by, and construed in accordance with,
the law of the State of New York. 

  
 Exhibit F - 6 

 EXHIBIT G-1 

FORM OF U.S. TAX COMPLIANCE CERTIFICATE 

(For Foreign Lenders That Are Not Partnerships For U.S. Federal Income Tax Purposes) 

Reference is hereby made to the Amended and Restated Credit Agreement dated as of December 30, 2016 (as amended, supplemented or otherwise modified from
time to time, the “Credit Agreement”), among Energy Ventures GoM LLC, as Borrower, EnVen Energy Corporation, Bank of Montreal, as Administrative Agent, and each lender from time to time party thereto. 

Pursuant to the provisions of Section 5.03 of the Credit Agreement, the undersigned hereby certifies that (i) it is the sole record and beneficial
owner of the Loan(s) (as well as any Note(s) evidencing such Loan(s)) in respect of which it is providing this certificate, (ii) it is not a bank within the meaning of Section 881(c)(3)(A) of the Code, (iii) it is not a ten percent
shareholder of the Borrower within the meaning of Section 871(h)(3)(B) of the Code and (iv) it is not a controlled foreign corporation related to the Borrower as described in Section 881(c)(3)(C) of the Code. 

The undersigned has furnished the Administrative Agent and the Borrower with a certificate of its non-U.S. Person
status on IRS Form W-8BEN. By executing this certificate, the undersigned agrees that (1) if the information provided on this certificate changes, the undersigned shall promptly so inform the Borrower and
the Administrative Agent, and (2) the undersigned shall have at all times furnished the Borrower and the Administrative Agent with a properly completed and currently effective certificate in either the calendar year in which each payment is to
be made to the undersigned, or in either of the two calendar years preceding such payments. 
 Unless otherwise defined herein, terms defined in the Credit
Agreement and used herein shall have the meanings given to them in the Credit Agreement. 
  

			
	[NAME OF LENDER]
		
	By:	 	
		
	Name:	 	
		
	Title:	 	
		
	Date:	 	________ __, 201[    ]

  
 Exhibit G - 1 

 EXHIBIT G-2 

FORM OF U.S. TAX COMPLIANCE CERTIFICATE 

(For Foreign Participants That Are Not Partnerships For U.S. Federal Income Tax Purposes) 

Reference is hereby made to the Amended and Restated Credit Agreement dated as of December 30, 2016 (as amended, supplemented or otherwise modified from
time to time, the “Credit Agreement”), among Energy Ventures GoM LLC, as Borrower, EnVen Energy Corporation, Bank of Montreal, as Administrative Agent, and each lender from time to time party thereto. 

Pursuant to the provisions of Section 5.03 of the Credit Agreement, the undersigned hereby certifies that (i) it is the sole record and beneficial
owner of the participation in respect of which it is providing this certificate, (ii) it is not a bank within the meaning of Section 881(c)(3)(A) of the Code, (iii) it is not a ten percent shareholder of the Borrower within the
meaning of Section 871(h)(3)(B) of the Code, and (iv) it is not a controlled foreign corporation related to the Borrower as described in Section 881(c)(3)(C) of the Code. 

The undersigned has furnished its participating Lender with a certificate of its non-U.S. Person status on IRS Form W-8BEN. By executing this certificate, the undersigned agrees that (1) if the information provided on this certificate changes, the undersigned shall promptly so inform such Lender in writing, and (2) the
undersigned shall have at all times furnished such Lender with a properly completed and currently effective certificate in either the calendar year in which each payment is to be made to the undersigned, or in either of the two calendar years
preceding such payments. 
 Unless otherwise defined herein, terms defined in the Credit Agreement and used herein shall have the meanings given to them in
the Credit Agreement. 
  

			
	[NAME OF PARTICIPANT]
		
	By:	 	
		
	Name:	 	
		
	Title:	 	
		
	Date:	 	________ __, 201[    ]

  
 Exhibit G - 2 

 EXHIBIT G-3 

FORM OF U.S. TAX COMPLIANCE CERTIFICATE 

(For Foreign Participants That Are Partnerships For U.S. Federal Income Tax Purposes) 

Reference is hereby made to the Amended and Restated Credit Agreement dated as of December 30, 2016 (as amended, supplemented or otherwise modified from
time to time, the “Credit Agreement”), among Energy Ventures GoM LLC, as Borrower, EnVen Energy Corporation, Bank of Montreal, as Administrative Agent, and each lender from time to time party thereto. 

Pursuant to the provisions of Section 5.03 of the Credit Agreement, the undersigned hereby certifies that (i) it is the sole record owner of the
participation in respect of which it is providing this certificate, (ii) its direct or indirect partners/members are the sole beneficial owners of such participation, (iii) with respect such participation, neither the undersigned nor any
of its direct or indirect partners/members is a bank extending credit pursuant to a loan agreement entered into in the ordinary course of its trade or business within the meaning of Section 881(c)(3)(A) of the Code, (iv) none of its direct
or indirect partners/members is a ten percent shareholder of the Borrower within the meaning of Section 871(h)(3)(B) of the Code and (v) none of its direct or indirect partners/members is a controlled foreign corporation related to the
Borrower as described in Section 881(c)(3)(C) of the Code. 
 The undersigned has furnished its participating Lender with IRS Form W-8IMY accompanied by one of the following forms from each of its partners/members that is claiming the portfolio interest exemption: (i) an IRS Form W-8BEN or
(ii) an IRS Form W-8IMY accompanied by an IRS Form W-8BEN from each of such partner’s/member’s beneficial owners that is claiming the portfolio interest
exemption. By executing this certificate, the undersigned agrees that (1) if the information provided on this certificate changes, the undersigned shall promptly so inform such Lender and (2) the undersigned shall have at all times
furnished such Lender with a properly completed and currently effective certificate in either the calendar year in which each payment is to be made to the undersigned, or in either of the two calendar years preceding such payments. 

Unless otherwise defined herein, terms defined in the Credit Agreement and used herein shall have the meanings given to them in the Credit Agreement. 

 

			
	[NAME OF PARTICIPANT]
		
	By:	 	
		
	Name:	 	
		
	Title:	 	
		
	Date:	 	________ __, 201[    ]

  
 Exhibit G - 3 

 EXHIBIT G-4 

FORM OF U.S. TAX COMPLIANCE CERTIFICATE 

(For Foreign Lenders That Are Partnerships For U.S. Federal Income Tax Purposes) 

Reference is hereby made to the Amended and Restated Credit Agreement dated as of December 30, 2016 (as amended, supplemented or otherwise modified from
time to time, the “Credit Agreement”), among Energy Ventures GoM LLC, as Borrower, EnVen Energy Corporation, Bank of Montreal, as Administrative Agent, and each lender from time to time party thereto. 

Pursuant to the provisions of Section 5.03 of the Credit Agreement, the undersigned hereby certifies that (i) it is the sole record owner of the
Loan(s) (as well as any Note(s) evidencing such Loan(s)) in respect of which it is providing this certificate, (ii) its direct or indirect partners/members are the sole beneficial owners of such Loan(s) (as well as any Note(s) evidencing such
Loan(s)), (iii) with respect to the extension of credit pursuant to this Credit Agreement or any other Loan Document, neither the undersigned nor any of its direct or indirect partners/members is a bank extending credit pursuant to a loan agreement
entered into in the ordinary course of its trade or business within the meaning of Section 881(c)(3)(A) of the Code, (iv) none of its direct or indirect partners/members is a ten percent shareholder of the Borrower within the meaning of
Section 871(h)(3)(B) of the Code and (v) none of its direct or indirect partners/members is a controlled foreign corporation related to the Borrower as described in Section 881(c)(3)(C) of the Code. 

The undersigned has furnished the Administrative Agent and the Borrower with IRS Form W-8IMY accompanied by one of the
following forms from each of its partners/members that is claiming the portfolio interest exemption: (i) an IRS Form W-8BEN or (ii) an IRS Form W-8IMY
accompanied by an IRS Form W-8BEN from each of such partner’s/member’s beneficial owners that is claiming the portfolio interest exemption. By executing this certificate, the undersigned agrees that
(1) if the information provided on this certificate changes, the undersigned shall promptly so inform the Borrower and the Administrative Agent, and (2) the undersigned shall have at all times furnished the Borrower and the Administrative
Agent with a properly completed and currently effective certificate in either the calendar year in which each payment is to be made to the undersigned, or in either of the two calendar years preceding such payments. 

Unless otherwise defined herein, terms defined in the Credit Agreement and used herein shall have the meanings given to them in the Credit Agreement. 

 

			
	[NAME OF LENDER]
		
	By:	 	
		
	Name:	 	
		
	Title:	 	
		
	Date:	 	________ __, 201[    ]

  
 Exhibit G - 4 

 EXHIBIT H-1 

FORM OF MAXIMUM CREDIT AMOUNT INCREASE AGREEMENT 

THIS MAXIMUM CREDIT AMOUNT INCREASE AGREEMENT (this “Agreement”) dated as of
[                ], is between [Insert name of Existing Lender] (the “Existing Lender”) and Energy Ventures GoM LLC, a Delaware limited liability
company (the “Borrower”). Each capitalized term used herein but not otherwise defined herein has the meaning given such term in the Credit Agreement referred to below.     

R E C I T A L S 
 A. The
Borrower, Bank of Montreal, as the Administrative Agent and the other agents and lenders have entered into that certain Amended and Restated Credit Agreement dated as of December 30, 2016 (together with all amendments, restatements, supplements
or other modifications thereto, the “Credit Agreement”). 
 B. The Borrower has requested, pursuant to Section 2.06(c)
of the Credit Agreement, that the Aggregate Maximum Credit Amounts be increased by an additional $[                ] to a total of
$[                ]. 
 NOW, THEREFORE, in consideration of
the premises and the mutual covenants herein contained, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows: 

Section 1.01 Maximum Credit Amount Increase. 

(a) Pursuant to Section 2.06(c) of the Credit Agreement, effective as of the date hereof in accordance with Section 1.03 hereof, the
Existing Lender’s Maximum Credit Amount is hereby increased from $[                ] to
$[                ]. 
 (b) Attached hereto as Schedule
1.01(b) is a new “Annex I” which replaces the outstanding Annex I to the Credit Agreement, such new Annex I reflecting the Aggregate Maximum Credit Amount after giving effect to (i) the increase in the Existing Lender’s
Maximum Credit Amount contemplated hereby, (ii) the increase in the Aggregate Maximum Credit Amount contemplated by each other Maximum Credit Amount Increase Agreement dated as of the date hereof between the applicable Lender signatory thereto
and the Borrower and (iii) the joinder of each Additional Lender as a Lender under the Credit Agreement pursuant to each Additional Lender Agreement dated as of the date hereof between the applicable Additional Lender and the Borrower. 

Section 1.02 Agreements. The Existing Lender hereby agrees that (i) it will, independently and without reliance on the
Administrative Agent or any other Lender, and based on such documents and information as it shall deem appropriate at the time, continue to make its own credit decisions in taking or not taking action under the Credit Agreement, and (ii) it
will perform in accordance with the terms of the Credit Agreement, all of the obligations which by the terms of the Credit Agreement are required to be performed by it as a Lender (including, without limitation, any obligations of it, if any, under
Section 2.06(c) of the Credit Agreement). 

  
 Exhibit H-1 - 1 

 Section 1.03 Representations and Warranties. The Borrower hereby represents and
warrants to the Lenders that as of the date hereof, immediately after giving effect to the terms of this Agreement: 
 (a) all of the
representations and warranties contained in each Loan Document to which it is a party are true and correct in all material respects (except those which have a materiality qualifier, which shall be true and correct as so qualified), except to the
extent any such representations and warranties are expressly limited to an earlier date, in which case, such representations and warranties shall continue to be true and correct as of such specified earlier date, 

(b) no Default or Event of Default has occurred and is continuing, 

(c) no event or events have occurred which individually or in the aggregate could reasonably be expected to have a Material Adverse Effect,
and 
 (d) the Borrower has paid to the Administrative Agent, the Arranger and the Lenders all fees and other amounts due and payable on or
prior to the effective date hereof. 
 Section 1.04 Confirmation. The provisions of the Credit Agreement, as amended from time
to time in accordance with its terms, shall remain in full force and effect following the effectiveness of this Agreement. 

Section 1.05 Effectiveness. This Agreement shall become effective on the date hereof in accordance with Section 2.06(c)(ii)
of the Credit Agreement. 
 Section 1.06 Counterparts. This Agreement may be executed in counterparts (and by different parties
hereto on different counterparts), each of which shall constitute an original, but all of which when taken together shall constitute a single contract. Delivery of an executed counterpart of a signature page of this Agreement by facsimile or other
electronic image scan transmission shall be as effective as delivery of a manually executed counterpart of this Agreement. 
 (c)
Section 1.07 Governing Law. THIS AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK EXCEPT TO THE EXTENT THAT UNITED STATES FEDERAL LAW PERMITS ANY LENDER TO CONTRACT FOR, CHARGE, RECEIVE,
RESERVE OR TAKE INTEREST AT THE RATE ALLOWED BY THE LAWS OF THE STATE WHERE SUCH LENDER IS LOCATED. 
 Section 1.08
Severability. In case any one or more of the provisions contained in this Agreement should be held invalid, illegal or unenforceable in any respect, none of the parties hereto shall be required to comply with such provision for so long as
such provision is held to be invalid, illegal or unenforceable, but the validity, legality and enforceability of the remaining provisions contained herein and in the Credit Agreement shall not in any way be affected or impaired. The parties hereto
shall endeavor in good-faith negotiations to replace the invalid, illegal or unenforceable provisions with valid provisions the economic effect of which comes as close as possible to that of the invalid, illegal or unenforceable provisions. 

  
 Exhibit H-1 - 2 

 Section 1.09 Notices. All communications and notices hereunder shall be in
writing and given as provided in Section 12.01 of the Credit Agreement. 
 Section 1.10 Loan Document. This Agreement is a
Loan Document. 
 [Signature Page Follows] 

  
 Exhibit H-1 - 3 

 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed as of
the date first written above. 
  

			
	 ENERGY VENTURES GOM LLC,
 as the
Borrower

		
	By:	 	 
		 	Name:
		 	Title:
	
	 [Existing Lender],
 as a
Lender

		
	By:	 	 
		 	Name:
		 	Title:

  

			
	Acknowledged and accepted by:
	
	 BANK OF MONTREAL,
 as Administrative
Agent

		
	By:	 	 
		 	Name:
		 	Title:

  
 Exhibit H-1 - 4 

 EXHIBIT H-2 

FORM OF ADDITIONAL LENDER AGREEMENT 

THIS ADDITIONAL LENDER AGREEMENT (this “Agreement”) dated as of
[                ], is between [Insert name of Additional Lender] (the “Additional Lender”) and Energy Ventures GoM LLC (“Borrower”).
Each capitalized term used herein but not otherwise defined herein has the meaning given such term in the Credit Agreement referred to below. 

RECITALS 
 A. The
Borrower, Bank of Montreal, as the Administrative Agent and the other agents and lenders have entered into that certain Amended and Restated Credit Agreement dated as of December 30, 2016 (as amended, restated, supplemented or otherwise
modified from time to time, the “Credit Agreement”). 
 B. The Borrower has requested, pursuant to Section 2.06(c) of
the Credit Agreement, that the Aggregate Maximum Credit Amounts be increased by an additional $[                ] to a total of
$[                ]. 
 NOW, THEREFORE, in consideration of
the premises and the mutual covenants herein contained, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows: 

Section 1.01 Additional Lender. 

(a) Pursuant to Section 2.06(c) of the Credit Agreement, effective as of the date hereof in accordance with Section 1.04 hereof, the
Additional Lender shall hereby (i) become a Lender under, and for all purposes of, the Credit Agreement with a Maximum Credit Amount of $[                ] and
(ii) have all of the rights and obligations of a Lender under the Credit Agreement. 
 (b) Attached hereto as Schedule 1.01(b)
is a new “Annex I” which replaces the outstanding Annex I to the Credit Agreement, such new Annex I reflecting the Aggregate Maximum Credit Amount after giving effect to (i) the joinder of the Additional Lender as a Lender under the
Credit Agreement contemplated hereby, (ii) the joinder of each other Additional Lender as a Lender under the Credit Agreement pursuant to each other Additional Lender Agreement dated as of the date hereof between the applicable Additional
Lender and the Borrower and (iii) the increase in the Aggregate Maximum Credit Amount contemplated by each Maximum Credit Amount Increase Agreement dated as of the date hereof between the applicable existing Lender signatory thereto and the
Borrower. 
 Section 1.02 Agreements. Each Additional Lender hereby agrees that (i) it will, independently and without
reliance on the Administrative Agent or any other Lender, and based on such documents and information as it shall deem appropriate at the time, continue to make its own credit decisions in taking or not taking action under the Credit Agreement, and
(ii) it will perform in accordance with the terms of the Credit Agreement, all of the obligations which by the terms of the Credit Agreement are required to be performed by it as a Lender (including, without limitation, any obligations of it,
if any, under Section 2.06(c) of the Credit Agreement). 

  
 Exhibit H-2 - 1 

 Section 1.03 Representations and Warranties. The Borrower represents and
warrants to the Lenders that as of the date hereof, immediately after giving effect to the terms of this Agreement: 
 (a) all of the
representations and warranties contained in each Loan Document to which it is a party are true and correct in all material respects (except those which have a materiality qualifier, which shall be true and correct as so qualified), except to the
extent any such representations and warranties are expressly limited to an earlier date, in which case, such representations and warranties shall continue to be true and correct as of such specified earlier date, 

(b) no Default or Event of Default has occurred and is continuing, 

(c) no event or events have occurred which individually or in the aggregate could reasonably be expected to have a Material Adverse Effect,
and 
 (d) the Borrower has paid to the Administrative Agent, the Arranger and the Lenders all fees and other amounts due and payable on or
prior to the effective date hereof. 
 Section 1.04 Confirmation. The provisions of the Credit Agreement, as amended from time
to time in accordance with its terms, shall remain in full force and effect following the effectiveness of this Agreement. 

Section 1.05 Effectiveness. This Agreement shall become effective on the date hereof in accordance with Section 2.06(c)(ii)
of the Credit Agreement. 
 Section 1.06 Counterparts. This Agreement may be executed in counterparts (and by different parties
hereto on different counterparts), each of which shall constitute an original, but all of which when taken together shall constitute a single contract. Delivery of an executed counterpart of a signature page of this Agreement by facsimile or other
electronic image scan transmission shall be as effective as delivery of a manually executed counterpart of this Agreement. 

Section 1.07 Governing Law. THIS AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW
YORK EXCEPT TO THE EXTENT THAT UNITED STATES FEDERAL LAW PERMITS ANY LENDER TO CONTRACT FOR, CHARGE, RECEIVE, RESERVE OR TAKE INTEREST AT THE RATE ALLOWED BY THE LAWS OF THE STATE WHERE SUCH LENDER IS LOCATED. 

Section 1.08 Severability. In case any one or more of the provisions contained in this Agreement should be held invalid, illegal
or unenforceable in any respect, none of the parties hereto shall be required to comply with such provision for so long as such provision is held to be invalid, illegal or unenforceable, but the validity, legality and enforceability of the remaining
provisions contained herein and in the Credit Agreement shall not in any way be affected or impaired. The parties hereto shall endeavor in good-faith negotiations to replace the invalid, illegal or unenforceable provisions with valid provisions the
economic effect of which comes as close as possible to that of the invalid, illegal or unenforceable provisions. 

  
 Exhibit H-2 - 2 

 Section 1.09 Notices. All communications and notices hereunder shall be in
writing and given as provided in Section 12.01 of the Credit Agreement; provided that all communications and notices hereunder to each Additional Lender shall be given to it at the address set forth in its Administrative Questionnaire. 

Section 1.10 Loan Document. This Agreement is a Loan Document. 

[Signature Page Follows] 

  
 Exhibit H-2 - 3 

 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed as of
the date first written above. 
  

			
	 ENERGY VENTURES GOM LLC,
 as the
Borrower

		
	By:	 	 
		 	Name:
		 	Title:
	
	 [Additional Lender],
 as a
Lender

		
	By:	 	 
		 	Name:
		 	Title:

  

			
	Acknowledged and accepted by:
	
	 BANK OF MONTREAL,
 as Administrative
Agent

		
	By:	 	 
		 	Name:
		 	Title:

  
 Exhibit H-2 - 4 

 EXHIBIT I 

FORM OF 
 CONSOLIDATED
CASH BALANCE CERTIFICATE 
 The undersigned hereby certifies that he/she is the
[                ] of Energy Ventures GoM LLC, a Delaware limited liability company (the “Borrower”), and that as such he/she is authorized to execute
this certificate on behalf of the Borrower. With reference to the Amended and Restated Credit Agreement dated as of December 30, 2016 (together with all amendments, restatements, supplements or other modifications thereto being the
“Agreement”) among the Borrower, EnVen Energy Corporation, Bank of Montreal, as Administrative Agent, and the other agents and lenders (the “Lenders”) which are or become a party thereto, and such Lenders, the
undersigned represents and warrants as follows (each capitalized term used herein having the same meaning given to it in the Agreement unless otherwise specified): 

(a) The amount of the Consolidated Cash Balance as of the date hereof is: $[____]. 

(b) The amount of Excess Cash as of the date hereof is: $[_____]. 

(e) Attached hereto are the summary and balance statements for each Deposit Account, Securities Account, Commodity Account, or other account in which any
Consolidated Cash Balance is held, credited or carried. 
 EXECUTED AND DELIVERED this
[            ] day of 201[_]. 
  

			
	ENERGY VENTURES GOM LLC

 
			
		
	By:	 	 

 
			
	Name:	 	

 
			
	Title:	 	

  
 Exhibit I - 1 

 SCHEDULE 7.05 

LITIGATION 
 None. 

  
 Schedule 7.05 - 1 

 SCHEDULE 7.06 

ENVIRONMENTAL MATTERS 
 None. 

  
 Schedule 7.06 - 1 

 SCHEDULE 7.14 

SUBSIDIARIES; FOREIGN OPERATIONS 
  

					
	EnVen Energy Ventures Holding, LLC	  	
	Organized in:	  	Delaware	  	
	Organizational ID:	  	4791030	  	
	Principal Place of Business:	  	333 Clay Street, Suite 4200	  	
		  	Houston, Texas 77002	  	
		
	EnVen Energy Ventures, LLC	  	
	Organized in:	  	Louisiana	  	
	Organizational ID:	  	36670510K	  	
	Principal Place of Business:	  	333 Clay Street, Suite 4200	  	
		  	Houston, Texas 77002	  	
		
	EnVen Energy Deepwater, LLC	  	
	Organized in:	  	Delaware	  	
	Organizational ID:	  	5565184	  	
	Principal Place of Business:	  	333 Clay Street, Suite 4200	  	
	 	  	Houston, Texas 77002	  	 

  
 Schedule 7.14 - 1 

 SCHEDULE 7.18 

GAS IMBALANCES 
 None. 

  
 Schedule 7.18 - 1 

 SCHEDULE 7.19 

MARKETING CONTRACTS 
 None. 

  
 Schedule 7.19 - 1 

 SCHEDULE 7.20 

SWAP AGREEMENTS 
 As to Borrower and all
Guarantors other than EnVen Energy Ventures, LLC, None. 
 EnVen Energy Ventures, LLC Swap Agreements 

(See Attached) 

  
 Schedule 7.20 - 1 

 SCHEDULE 7.20 

SWAP AGREEMENTS 
 As to Borrower and all
Guarantors other than EnVen Energy Ventures, LLC, None. 
 EnVen Energy Ventures, LLC Swap Agreements 

(See Attached) 

  
 Schedule 7.20 - 1 

 The effective date for each swap is the “start date” indicated above. 

As of September 30, 2016, the mark to market value for these swaps is: 

Crude Mark-to-Market Analysis—EnVen Energy 

*As of Sep-30-2016 

 

																	
	 Base MtM
	  	 	 	  	 	 	  	 	 	  	 	 
	  	ABN	 	  	BMO	 	  	Key Bank	 	  	Grand Total	 
	 2016
	  				  	($	357,875	) 	  	$	152,333	 	  	($	205,541	) 
	 2017
	  	$	832,958	 	  				  				  	$	832,958	 
		  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 
	 Grand Total
	  	$	832,958	 	  	($	357,875	) 	  	$	152,333	 	  	$	627,417	 
		  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 

 Gas Mark-to-Market Analysis—EnVen
Energy 
 *As of Sep-30-2016 

 

																	
	 Base MtM
	  	 	 	  	 	 	  	 	 	  	 	 
	  	ABN	 	  	BMO	 	  	Key Bank	 	  	Grand Total	 
	 2016
	  				  	$	120,965	 	  	($	170,714	) 	  	($	49,749	) 
	 2017
	  	$	24,898	 	  	$	15,484	 	  	($	418,332	) 	  	($	377,950	) 
		  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 
	 Grand Total
	  	$	24,898	 	  	$	136,448	 	  	($	589,046	) 	  	($	427,699	) 
		  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 

 Point-in-Time Valuation: This MtM
report represents a valuation of hedge positions on the above mentioned run date and does not contain values for expired contracts. 
 Applicable Agreements
(in effect prior to execution of this Credit Agreement), which include credit support: 
  

	 	1.	 ISDA 2002 Master Agreement, dated as of August 20, 2013, by and between KeyBank National Association and
EnVen Energy Ventures, LLC, which references “any related collateral or security documents” provided by the Credit Agreement, dated as of August 21, 2013, among EnVen Energy Ventures, LLC (the “Borrower”); EnVen Energy
Holding, LLC (the “Parent”) each of the Lenders from time to time a party thereto; Bank of Montreal, as administrative agent for the Lenders (“Administrative Agent”), IBERIABANK and KeyBank National Association, as co-syndication agents for the Lenders (the “C-Syndication Agents”) and Credit Suisse AG (“Documentation Agent”), as amended, restated, supplemented or
modified from time to time. 

  

	 	2.	 ISDA 2002 Master Agreement, dated as of August 23, 2013, by and between Bank of Montreal and EnVen Energy
Ventures, LLC, which references “any related collateral or security documents” provided by the Credit Agreement, dated as of August 21, 2013 made by Party A 

  
 Schedule 7.20 - 2 

	 	[EnVen Energy Ventures, LLC], as Borrower, and Party B [Bank of Montreal], as Administrative Agent, IBERIABANK and Key Bank National Association, as Co-Syndication Agents, Credit
Suisse AG, as Documentation Agent, and such lenders as are or may become parties to the agreement from time to time, as amended, supplemented, restated replaced from time to time 

 

	 	3.	 ISDA 2002 Master Agreement, dated as of January 26, 2016, by and between ABN AMRO Bank N.V. and EnVen
Energy Ventures, LLC 

  
 Schedule 7.20 - 3 

									
	 	  	 	  	2017	  	 	  	 
	 January - December 2017
	  	 	  	 January - December 2017

	 Execution Date:
	  	8/26/2016	  		  	Execution Date:	  	8/29/2016
					
	 Commodity:
	  	NYMEX NG	  		  	Commodity:	  	NYMEX NG
					
	 Structure:
	  	EnVen sells $3.16 swap	  		  	Structure:	  	EnVen sells $3.17 swap
					
	 Volume:
	  	718,842 MMBtus	  		  	Volume:	  	718,842 MMBtus
					
	 Start Contract Month:
	  	January 2017	  		  	Start Contract	  	January 2017
					
	 End Contract Month:
	  	December 2017	  		  	End Contract	  	December 2017
					
	 Counterparty:
	  	BMO	  		  	Counterparty:	  	ABN
					
	 Settlement:
	  	Last Day	  		  	Settlement:	  	Last Day

  

									
	 Contract Month
	  	 MMBtu/Month
	  	 	  	 Contract Month
	  	 MMBtu/Month

	 Jan-17
	  	121,125	  		  	Jan-17	  	121,125
	 Feb-17
	  	115,758	  		  	Feb-17	  	115,758
	 Mar-17
	  	105,746	  		  	Mar-17	  	105,746
	 Apr-17
	  	96,742	  		  	Apr-17	  	96,742
	 May-17
	  	71,399	  		  	May-17	  	71,399
	 Jun-17
	  	67,699	  		  	Jun-17	  	67,699
	 Jul-17
	  	15,632	  		  	Jul-17	  	15,632
	 Aug-17
	  	13,017	  		  	Aug-17	  	13,017
	 Sep-17
	  	10,423	  		  	Sep-17	  	10,423
	 Oct-17
	  	7,989	  		  	Oct-17	  	7,989
	 Nov-17
	  	48,816	  		  	Nov-17	  	48,816
	 Dec-17
	  	44,496	  		  	Dec-17	  	44,496
		  	  
	  		  		  	  

	 Total
	  	718,842	  		  	Total	  	718,842
		  	  
	  		  		  	  

									
	 	  	 	  	2017	  	 	  	 
	 October 2016 - March 2017
	  	 	  	 April - October 2017

	 Execution Date:
	  	9/12/2016	  		  	Execution Date:	  	9/12/2016
					
	 Counterparty:
	  	Key Bank	  		  	Counterparty:	  	ABN
					
	 Commodity:
	  	Natural Gas	  		  	Commodity:	  	Natural Gas
					
	 Currency
	  	USD	  		  	Currency	  	USD
					
	 Structure:
	  	Two-Way Producer Collar	  		  	Structure:	  	EnVen Energy sells NYMEX Swap Leg 1: EnVen Energy
		  	Leg 1: EnVen Energy buys	  		  	
					
		  	 Leg 2: EnVen Energy sells $3.38 call
	  		  		  	
					
	 Settlement Terms:
	  	 NYMEX Expiry (Last Trading Day of Futures
	  		  	 Settlement Terms:
	  	 NYMEX Expiry (Last Trading Day of Futures

					
	 Volume:
	  	 Sculpted (See schedule below)
	  		  	 Volume:
	  	 Sculpted (See schedule below)

					
	 Total Volume:
	  	 671,746 MMBtus
	  		  	 Total Volume:
	  	 919,648 MMBtus

					
	 Cash Settlement
	  	 Final Pricing Date + 5 Business Days
	  		  	 Cash Settlement
	  	 Final Pricing Date + 5 Business Days

					
	 Premium / Payment
	  	$0.00	  		  		  	
					
	 Total Premium:
	  	 Cashless Transaction
	  		  		  	

  

									
	 Contract Month
	  	 MMBtus/month
	  	 	  	 Contract Month
	  	 MMBtus/month

	 Jan-17
	  	125,520	  		  		  	
	 Feb-17
	  	122,362	  		  		  	
	 Mar-17
	  	128,842	  		  		  	
		  		  		  	Apr-17	  	133,987
		  		  		  	May-17	  	172,260
		  		  		  	Jun-17	  	167,673
		  		  		  	Jul-17	  	116,096
		  		  		  	Aug-17	  	113,068
		  		  		  	Sep-17	  	109,856
		  		  		  	Oct-17	  	106,708
		  	  
	  		  		  	  

	 Total
	  	376,724	  		  	Total	  	919,648
		  	  
	  		  		  	  

									
	 	  	 	  	2017	  	 	  	 
	 November - December
2017                    
	  	 	  	 January - December
2017                    

	 Execution Date:
	  	9/12/2016	  		  	Execution Date:	  	1/15/2016
					
	 Counterparty:
	  	 Key Bank
	  		  	Commodity:	  	NYMEX NG
					
	 Commodity:
	  	 Natural Gas
	  		  	Structure:	  	Sell $3.61 NYMEX NG
					
	 Currency
	  	 USD
	  		  		  	
	 Structure:
	  	 Two-Way Producer Collar (NYMEX)
	  		  		  	
					
		  	 Leg 1: EnVen Energy buys $3.00 put
	  		  	Volume:	  	2,375,000 Mmbtu (see schedule below)
					
		  	 Leg 2: EnVen Energy sells $3.33 call
	  		  	Start Contract	  	January 2017
					
	 Settlement Terms:
	  	 NYMEX Expiry (Last Trading Day of Futures
	  		  	End Contract	  	December 2017
					
	 Volume:
	  	 Sculpted (See schedule below)
	  		  	Counterparty:	  	Keybank
					
	 Total Volume:
	  	 266,272 MMBtus
	  		  	Settlement:	  	Last Day
					
	 Cash Settlement
	  	 Final Pricing Date + 5 Business Days
	  		  		  	
					
	 Premium / Payment
	  	 $0.00
	  		  		  	
					
	 Total Premium:
	  	 Cashless Transaction
	  		  		  	

  

									
	 Contract Month
	  	 MMBtus/month
	  	 	  	 Contract Month
	  	 MMBtu/Month

		  		  		  	Jan-17	  	197,917
		  		  		  	Feb-17	  	197,917
		  		  		  	Mar-17	  	197,917
		  		  		  	Apr-17	  	197,917
		  		  		  	May-17	  	197,917
		  		  		  	Jun-17	  	197,917
		  		  		  	Jul-17	  	197,917
		  		  		  	Aug-17	  	197,917
		  		  		  	Sep-17	  	197,917
		  		  		  	Oct-17	  	197,917
	 Nov-17
	  	146,049	  		  	Nov-17	  	197,917
	 Dec-17
	  	120,223	  		  	Dec-17	  	197,917
		  	  
	  		  		  	  

	 Total
	  	266,272	  		  	Total	  	2,375,004
		  	  
	  		  		  	  

									
	 	  	 	  	2017	  	 	  	 
	 January - December
2017                    
	  	 	  	 January - March
2017                    

	 Execution Date:
	  	12/16/2016	  		  	Execution Date:	  	5/19/2016
					
	 Counterparty:
	  	ABN	  		  	Commodity:	  	Crude Oil – NYMEX WTI
					
	 Commodity:
	  	 Natural Gas
	  		  	Leg 1:	  	EnVen buys $50.00 put
					
	 Currency
	  	 USD
	  		  	Leg 2:	  	 EnVen sells $42.50 put

					
	 Structure:
	  	 EnVen Energy sells NYMEX Swap
	  		  	Leg 3:	  	 EnVen sells $60.00 call

					
		  	 Leg 1: EnVen Energy receives $3.375/MMBtu
	  		  	Volume:	  	 2,000 Bbls/day

					
		  	 Leg 2: EnVen Energy pays NYMEX
	  		  	Total Volume:	  	 180,000 Bbls Total; Sculpted (See sch below)

					
	 Settlement Terms:
	  	 NYMEX Expiry (Last Trading Day of Futures
	  		  	Start Contract	  	 January 2017

					
	 Volume:
	  	 Sculpted (See schedule below)
	  		  	End Contract	  	 March 2017

					
	 Total Volume:
	  	 1,216,516 MMBtus
	  		  	Counterparty:	  	 ABN

					
	 Cash Settlement
	  	 Final Pricing Date + 5 Business Days
	  		  	Settlement Terms:	  	 Calendar Month

					
		  		  		  	Settlement:	  	 Final Pricing Date + 5 Business
Days

  

									
	 Contract Month
	  	 MMBtus/month
	  	 	  	 Contract Month
	  	 Bbls/Month

	 Jan-17
	  	127,999	  		  	Jan-17	  	62,000
	 Feb-17
	  	125,132	  		  	Feb-17	  	56,000
	 Mar-17
	  	122,729	  		  	Mar-17	  	62,000
	 Apr-17
	  	120,270	  		  	Apr-17	  	0
	 May-17
	  	111,011	  		  	May-17	  	0
	 Jun-17
	  	109,260	  		  	Jun-17	  	0
	 Jul-17
	  	75,857	  		  	Jul-17	  	0
	 Aug-17
	  	73,346	  		  	Aug-17	  	0
	 Sep-17
	  	72,570	  		  	Sep-17	  	0
	 Oct-17
	  	70,649	  		  	Oct-17	  	0
	 Nov-17
	  	96,000	  		  	Nov-17	  	0
	 Dec-17
	  	111,693	  		  	Dec-17	  	0
		  	  
	  		  		  	  

	 Total
	  	1,216,516	  		  	Total	  	180,000
		  	  
	  		  		  	  

									
	 	  	 	  	2017	  	 	  	 
	 January - March
2017                                         
   
	  	 	  	 April - June 2017

					
	 Execution Date:
	  	 5/20/2016
	  		  	 Execution Date:
	  	 5/19/2016

					
	 Commodity:
	  	 Crude Oil – NYMEX WTI
	  		  	 Commodity:
	  	 Crude Oil – NYMEX WTI

					
	 Leg 1:
	  	 EnVen buys $50.00 put
	  		  	 Leg 1:
	  	 EnVen buys $50.00 put

					
	 Leg 2:
	  	 EnVen sells $42.50 put
	  		  	 Leg 2:
	  	 EnVen sells $45.00 put

					
	 Leg 3:
	  	 EnVen sells $60.00 call
	  		  	 Leg 3:
	  	 EnVen sells $66.75 call

					
	 Volume:
	  	 3,000 Bbls/day
	  		  	 Volume:
	  	 2,500 Bbls/day

					
	 Total Volume:
	  	 270,000 Bbls Total; Sculpted (See sch below)
	  		  	 Total Volume:
	  	 227,500 Bbls Total; Sculpted (See sch below)

					
	 Start Contract Month:
	  	 January 2017
	  		  	 Start Contract
	  	 April 2017

					
	 End Contract Month:
	  	 March 2017
	  		  	 End Contract
	  	 June 2017

					
	 Counterparty:
	  	 ABN
	  		  	 Counterparty:
	  	 ABN

					
	 Settlement Terms:
	  	 Calendar Month Average
	  		  	 Settlement Terms:
	  	 Calendar Month

					
	 Settlement:
	  	 Final Pricing Date + 5 Business Days
	  		  	 Settlement:
	  	
Final Pricing Date + 5 Business 
Days

  

									
	 Contract Month
	  	 Bbls/Month
	  	 	  	 Contract Month
	  	 Bbls/Month

	 Jan-17
	  	93,000	  		  	Jan-17	  	0
	 Feb-17
	  	84,000	  		  	Feb-17	  	0
	 Mar-17
	  	93,000	  		  	Mar-17	  	0
	 Apr-17
	  	0	  		  	Apr-17	  	75,000
	 May-17
	  	0	  		  	May-17	  	77,500
	 Jun-17
	  	0	  		  	Jun-17	  	75,000
	 Jul-17
	  	0	  		  	Jul-17	  	0
	 Aug-17
	  	0	  		  	Aug-17	  	0
	 Sep-17
	  	0	  		  	Sep-17	  	0
	 Oct-17
	  	0	  		  	Oct-17	  	0
	 Nov-17
	  	0	  		  	Nov-17	  	0
	 Dec-17
	  	0	  		  	Dec-17	  	0
		  	  
	  		  		  	  

	 Total
	  	270,000	  		  	Total	  	227,500
		  	  
	  		  		  	  

									
	 	  	 	  	2017	  	 	  	 
	 January - December
2017                                         
   
	  	 	  	 January - December 2017

	 Execution Date:
	  	 8/26/2016
	  		  	 Execution Date:
	  	 9/8/2016

					
	 Commodity:
	  	 Crude Oil – NYMEX WTI
	  		  	 Commodity:
	  	 Crude Oil – NYMEX WTI

					
	 Leg 1:
	  	 EnVen buys $50.00 put
	  		  	 Leg 1:
	  	 EnVen buys $50.00 put

					
	 Leg 2:
	  	 EnVen sells $45.00 put
	  		  	 Leg 2:
	  	 EnVen sells $45.00 put

					
	 Leg 3:
	  	 EnVen sells $64.15 call
	  		  	 Leg 3:
	  	 EnVen sells $64.05 call

					
	 Volume:
	  		  		  	 Volume:
	  	
					
	 Total Volume:
	  	 1,007,171 Bbls Total; Sculpted (See sch below)
	  		  	 Total Volume:
	  	 1,007,171 Bbls Total; Sculpted (See sch below)

					
	 Start Contract Month:
	  	 January 2017
	  		  	 Start Contract
	  	 January 2017

					
	 End Contract Month:
	  	 December 2017
	  		  	 End Contract
	  	 December 2017

					
	 Counterparty:
	  	 ABN
	  		  	 Counterparty:
	  	 ABN

					
	 Settlement Terms:
	  	 Calendar Month Average
	  		  	 Settlement Terms:
	  	 Calendar Month

					
	 Settlement:
	  	 Final Pricing Date + 5 Business Days
	  		  	 Settlement:
	  	 Final Pricing Date + 5 Business
Days

  

									
	 Contract Month
	  	 Bbls/Month
	  	 	  	 Contract Month
	  	 Bbls/Month

	 Jan-17
	  	62,218	  		  	Jan-17	  	62,218
	 Feb-17
	  	66,986	  		  	Feb-17	  	66,986
	 Mar-17
	  	56,729	  		  	Mar-17	  	56,729
	 Apr-17
	  	94,142	  		  	Apr-17	  	94,142
	 May-17
	  	87,303	  		  	May-17	  	87,303
	 Jun-17
	  	86,170	  		  	Jun-17	  	86,170
	 Jul-17
	  	85,653	  		  	Jul-17	  	85,653
	 Aug-17
	  	84,054	  		  	Aug-17	  	84,054
	 Sep-17
	  	82,087	  		  	Sep-17	  	82,087
	 Oct-17
	  	80,584	  		  	Oct-17	  	80,584
	 Nov-17
	  	111,813	  		  	Nov-17	  	111,813
	 Dec-17
	  	109,432	  		  	Dec-17	  	109,432
		  	  
	  		  		  	  

	 Total
	  	1,007,171	  		  	Total	  	1,007,171
		  	  
	  		  		  	  

									
	 	  	 	  	2017	  	 	  	 
	 January - December
2017                                         
   
	  	 	  	 
	Execution Date:	  	12/16/2016	  		  		  	
	Counterparty:	  	BMO	  		  		  	
	Commodity:	  	Crude Oil	  		  		  	
	Currency	  	USD	  		  		  	
	Structure:	  	EnVen Energy sells NYMEX WTI Swap	  		  		  	
		  	Leg 1: EnVen Energy receives $55.00/Bbl	  		  		  	
		  	Leg 2: EnVen Energy pays NYMEX WTI	  		  		  	
	Settlement Terms:	  	Calendar Month Average	  		  		  	
	Volume:	  	Sculpted (See schedule below)	  		  		  	
	Total Volume:	  	536,902 Bbls	  		  		  	
	Cash Settlement	  	Final Pricing Date + 5 Business Days	  		  		  	

  

									
	 Contract Month
	  	 Bbls/month
	  	 	  	 	  	 
	Jan-17	  	54,870	  		  		  	
	Feb-17	  	53,032	  		  		  	
	Mar-17	  	51,801	  		  		  	
	Apr-17	  	50,400	  		  		  	
	May-17	  	51,739	  		  		  	
	Jun-17	  	50,580	  		  		  	
	Jul-17	  	34,875	  		  		  	
	Aug-17	  	33,697	  		  		  	
	Sep-17	  	33,690	  		  		  	
	Oct-17	  	32,798	  		  		  	
	Nov-17	  	45,090	  		  		  	
	Dec-17	  	44,330	  		  		  	
		  	  
	  		  		  	
	Total	  	536,902	  		  		  	
		  	  
	  		  		  	

  

 SCHEDULE 7.26 

ACCOUNTS 
  

			
	Customer Name:	  	EnVen Energy Ventures, LLC (Operating)
	Customer Address:	  	333 Clay Street, Suite 4200
	Customer City State & Zip Code:	  	Houston, TX 77002
	Customer’s Account Number:	  	XXXXXXXX5742
	Depository Bank	  	IBERIA Bank
		
	Customer Name:	  	EnVen Energy Ventures, LLC (Revenue)
	Customer Address:	  	333 Clay Street, Suite 4200
	Customer City State & Zip Code:	  	Houston, TX 77002
	Customer’s Account Number:	  	XXXXXXXX5750
	Depository Bank	  	IBERIA Bank
		
	Customer Name:	  	EnVen Energy Ventures, LLC (Payroll)
		  	(Excluded Account)
	Customer Address:	  	333 Clay Street, Suite 4200
	Customer City State & Zip Code:	  	Houston, TX 77002
	Customer’s Account Number:	  	XXXXXXXX5769
	Depository Bank	  	IBERIA Bank

  
 Schedule 7.26 - 1 

 SCHEDULE 9.02 

DEBT 
 Irrevocable Standby Letter of Credit
No. BMCH424038OS dated December 16, 2013 for $2,416,000 issued by Bank of Montreal, Chicago, Illinois, on behalf of EnVen Energy Ventures, LLC in favor of Apache Corporation as beneficiary to secure obligations associated with Mustang Island
Block A-85. 
 Irrevocable Standby Letter of Credit No. BMTO498760OS dated April 25, 2016 for $614,995.00
issued by Bank of Montreal, Chicago, Illinois, for account of EnVen Energy Ventures, LLC in favor of Nautilus Pipeline Company, LLC, and/or Enbridge Offshore Facilities, LLC, and/or Manta Ray Offshore Gathering Company, LLC as beneficiary. 

As to Borrower and all other Guarantors, None. 

  
 Schedule 9.02 - 1 

 SCHEDULE 9.03 

LIENS 
 None. 

  
 Schedule 9.03 - 1 

 SCHEDULE 9.05 

INVESTMENTS 
 None. 

  
 Schedule 9.05 - 1 

 SCHEDULE 9.11 

TRANSACTIONS WITH AFFILIATES 
  

	 	1.	 Master Flight Service Agreement between Rotocraft Leasing, LLC and EnVen Energy Ventures, LLC dated
February 17, 2014 

  
 Schedule 9.11 - 1

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