FOURTH AMENDMENT TO

SENIOR CREDIT AGREEMENT

THIS FOURTH AMENDMENT TO SENIOR CREDIT AGREEMENT (the "Fourth Amendment" ), dated effective as of April 2, 2018 (the "Fourth Amendment Effective Date" ), is made and signed among the UNIT CORPORATION, a Delaware corporation ( “Unit” ), UNIT DRILLING COMPANY, an Oklahoma corporation ( “Unit Drilling” ), UNIT PETROLEUM COMPANY, an Oklahoma corporation ( “Unit Petroleum” ), SUPERIOR PIPELINE COMPANY, L.L.C., a Delaware limited liability company (formerly an Oklahoma limited liability company) ( “Superior LLC” ), SUPERIOR PIPELINE TEXAS, L.L.C., an Oklahoma limited liability company ( “Superior TX” ), SUPERIOR APPALACHIAN PIPELINE, L.L.C., an Oklahoma limited liability company ( “Superior APP” ; Superior APP, together with each of Superior TX and Superior LLC, are referred to, collectively, as “Superior” ) (subject to Section 4(a) of this Fourth Amendment, each of Unit, Unit Drilling, Unit Petroleum and each Person constituting Superior, together with each existing Material Subsidiary of each of the foregoing Persons, and each of their respective successors and assigns, including any receiver, trustee or debtor-in-possession, is each, individually, called a “Borrower” , and, collectively, jointly and severally, as the “Borrowers” ), the Lenders signatory parties to this Fourth Amendment (each, individually a "Lender" and, collectively, the "Lenders" ), and BOKF, NA dba Bank of Oklahoma, as administrative agent for the Lenders now or hereafter signatory parties thereto (the "Administrative Agent" ).

RECITALS:

A.      The Borrowers, the Lenders signatory thereto and the Administrative Agent signed a Senior Credit Agreement dated as of September 13, 2011, as amended by the First Amendment and Consent to Senior Credit Agreement dated as of September 5, 2012, the Second Amendment and Consent to Senior Credit Agreement dated as of April 10, 2015, and the Third Amendment to Senior Credit Agreement dated as of April 8, 2016 (collectively, the "Existing Credit Agreement" ). Under the Existing Credit Agreement, the Lenders severally established in favor of the Borrowers Commitments set forth on the Lenders Schedule annexed as Schedule 2 to the Existing Credit Agreement until the Facility Termination Date, subject to the Maximum Credit Amount and the Borrowing Base. Capitalized terms used in this Fourth Amendment (including the Recitals) but not otherwise defined shall have the meaning given to that term in the Existing Credit Agreement.

B.      The Bank of Nova Scotia, which has been a Lender under the Existing Credit Agreement and the other Loan Documents, will cease being a Lender under the Existing Credit Agreement and the other Loan Documents effective as of the Fourth Amendment Effective Date (the “Fourth Amendment Exiting Lender” ), whereupon (in lieu of anything to the contrary in Article 14 of the Credit Agreement) certain of the other Lenders shall acquire a proportionate share of Fourth Amendment Exiting Lender’s Outstanding Credit Exposure and Commitments, as more particularly provided for in this Fourth Amendment.

C.      Unit has: (x) advised Administrative Agent and the Lenders of Unit’s intent to sell fifty percent (50%) of its Equity Interests in Superior and their respective Subsidiaries, before the next Determination Date to occur after the Fourth Amendment Effective Date, on terms that are acceptable to, and have been approved by, Administrative Agent (the “Superior Sale” ), subject to the conditions that (i) the Superior Sale results in net sales proceeds inuring to Unit over two hundred million dollars ($200,000,000) (with $200,000,000 being herein referred to as the

“Superior Sale Net Proceeds” ), and (ii) Borrowers shall, on the same Business Day of Unit’s receipt of the Superior Sale Net Proceeds, cause the Superior Sale Net Proceeds to be paid to Administrative Agent (for the ratable benefit of the Lenders) to pay down the existing outstanding principal balance of the Outstanding Credit Exposure by the Superior Sale Net Proceeds (the conditions in preceding sub-clauses (i) and (ii) of this clause (x) of this Recital C, are herein, together, called the “Superior Sale Paydown Conditions” ); and (y) requested that Administrative Agent and the Required Lenders consent to permit Unit to facilitate and consummate the Superior Sale, subject to (without limitation) the Superior Sale Paydown Conditions, and at closing of the Superior Sale automatically remove and irrevocably release and discharge each Person constituting Superior and their respective Subsidiaries as a Borrower, Subsidiary Guarantor and/or co-obligor under the Existing Credit Agreement and the other Loan Documents, provided that the Superior Sale Paydown Conditions shall have been duly satisfied (the “Superior Release” ). Administrative Agent and Required Lenders are agreeable to granting such consents, subject to this Fourth Amendment.

D.      Borrowers have further requested, and the Lenders have agreed, to amend certain provisions of the Existing Credit Agreement and the other Loan Documents, all as set forth herein.

NOW, THEREFORE, in consideration of the mutual covenants and agreements in this Fourth Amendment, and other good and valuable consideration, receipt of which is acknowledged by the parties, the parties agree as follows:

1.      Lenders Schedule. Schedule 2 annexed to the Existing Credit Agreement is hereby deleted and replaced in its entirety by the applicable revised Schedule 2 annexed to this Fourth Amendment for the applicable period (as more particularly set forth therein). Each Lender shall have the Commitment set forth opposite that Lender's name on the applicable replacement Schedule 2 , for the following periods of time: (i) from the Fourth Amendment Effective Date until the earlier to occur of the next Determination Date or the Superior Release Effective Date (as defined below); and (ii) on and from the Superior Release Effective Date until the next Determination Date to occur thereafter.

2.      Reaffirmation of the Total Commitment and Reduction of Maximum Credit Amount; Subject to Automatic Reductions On the Occurrence of the Superior Release Effective Date . Borrowers, Lenders, and Administrative Agent hereby agree, stipulate, and confirm that as of the Fourth Amendment Effective Date, and until the earlier to occur of either the next Determination Date or the Superior Release Effective Date: (i) the Total Commitment is reaffirmed at “$475,000,000”; and (ii) the Maximum Credit Amount is reduced from “$875,000,000” to “$475,000,000.” From the Fourth Amendment Effective Date, and until the earlier to occur of the next Determination Date or the Superior Release Effective Date, all references in Section 2.1 of the Existing Credit Agreement and elsewhere in the Existing Credit Agreement or any other Loan Document to a Total Commitment and a Maximum Credit Amount shall, for all purposes, mean and refer to a Total Commitment of "$475,000,000.00" and a Maximum Credit Amount of “$475,000,000.00.” On the Superior Release Effective Date, and until the next Determination Date to occur thereafter: (x) the Total Commitment shall automatically, and with no further action or documentation being required from or by any Person, be reduced from “475,000,000” to “$425,000,000”; and (y) the Maximum Credit Amount shall automatically, and with no further action or documentation being required from or by any Person, be reduced from “$475,000,000” to “$425,000,000.” On the Superior Release

Effective Date and until the next Determination Date to occur thereafter, all references in Section 2.1 of the Existing Credit Agreement and elsewhere in the Existing Credit Agreement or any other Loan Document to a Total Commitment and a Maximum Credit Amount shall, for all purposes, automatically mean and refer to a Total Commitment of "$425,000,000.00" and a Maximum Credit Amount of “$425,000,000.00.”

3.      Increase to the Borrowing Base; Subject to Automatic Reduction On the Occurrence of the Superior Release Effective Date . From the Fourth Amendment Effective Date, and until the earlier to occur of the next Determination Date or the Superior Release Effective Date, the reference in Section 2.6.1 of the Existing Credit Agreement and elsewhere in the Existing Credit Agreement or any other Loan Document to a Borrowing Base of "$475,000,000" is hereby deleted and replaced with "$525,000,000", subject, however, to all applicable terms, conditions and limitations set forth in the Credit Agreement. The parties acknowledge and agree that the redetermination of the Borrowing Base as provided in this Section 3 constitutes the April 1, 2018 scheduled redetermination of the Borrowing Base under the Existing Credit Agreement. Without limitation of the foregoing, on and from the Superior Release Effective Date, and until the next Determination Date to occur thereafter, the Borrowing Base shall automatically, and with no further action or documentation being required from or by any Person, be hereby reduced from “525,000,000” to “$425,000,000.”

4.      Additional Modifications to Existing Credit Agreement . The Existing Credit Agreement is hereby further amended as follows:

(a)      The Borrowers have advised that Unit intends to facilitate and consummate the Superior Sale, and have requested that Administrative Agent and the Required Lenders consent to the Superior Sale and to the Superior Release. Subject to the Existing Credit Agreement, as amended by this Fourth Amendment, and in consideration thereof, including the Borrowers’ timely satisfaction of the Superior Sale Paydown Conditions, the Administrative Agent and the Required Lenders agree that: (i) Borrowers and Unit may facilitate and consummate the Superior Sale, subject to the Borrowers’ obligation to first timely satisfy the Superior Sale Paydown Conditions (the date on which the Superior Sale is duly consummated is herein called the “Superior Sale Effective Date” ); and (ii) on Borrowers’ satisfaction of the Superior Sale Paydown Conditions by timely remitting all Superior Sale Net Proceeds to Administrative Agent (for the ratable benefit of the Lenders) on the Superior Sale Effective Date to paydown the principal balance of the Outstanding Credit Exposure outstanding at such time by such amount (the date on which the Superior Sale Paydown Conditions are duly satisfied is herein called the “Superior Release Effective Date” ), the Superior Release shall be deemed to have occurred for all intents and purposes of the Credit Agreement and the other Loan Documents, effective as of such Superior Release Effective Date (if any), whereupon each Person constituting Superior and their respective Subsidiaries shall be deemed to have automatically been removed and released by the Lenders as a Borrower, Subsidiary Guarantor and/or co-obligor under the Credit Agreement and the other Loan Documents and from all of its respective liability and obligations regarding the Obligations accruing thereunder. Without limitation of the foregoing, Borrowers acknowledge and agree that if Borrowers consummate the Superior Sale in any manner contrary to the requirements and conditions in this Fourth Amendment and/or as may otherwise be additionally stipulated by Administrative Agent (including, without limitation, if Borrowers fail to timely and fully satisfy the Superior Sale Paydown Conditions), any such failure shall constitute an automatic and immediate Event of Default under the Credit Agreement and the

other Loan Documents and no additional notice or cure period shall apply to any such failure. On the Superior Release Effective Date the Credit Agreement’s definition of “Borrower(s)” shall, automatically, and with no further action or documentation being required from or by any Person, be amended and restated in its entirety to thereafter have this revised meaning: “Each of Unit, Unit Drilling and Unit Petroleum together with each existing Material Subsidiary of each of the foregoing Persons, and each of their respective successors and assigns, including any receiver, trustee or debtor-in-possession, is each, individually, herein referred to as a “Borrower” , and, collectively, jointly and severally, as the “Borrowers” .”

(b)      To further effectuate the Superior Release as more particularly described in Section 4(a) of this Fourth Amendment, the parties further agree, as follows, effective as of the Superior Release Effective Date, respecting each of (i) that certain Pledge Agreement (as defined in the Existing Credit Agreement), (ii) that certain related side letter dated April 8, 2016, signed and delivered by the Administrative Agent to, and counter-signed by, Superior LLC in connection with the Pledge Agreement (the “2016 Pledge Side Letter” ), and (iii) those certain UCC financing statements naming Unit, as debtor, and naming Administrative Agent, as secured party, filed with the Office of the Delaware Secretary of State on December 21, 2016, as Initial Filing No. 2016-7930835 (the “2016 UCC” ) and on February 27, 2017, as Initial Filing No. 2017-1310660 (the “2017 UCC” , together with the 2016 UCC, the “Superior UCCs” ; the Superior UCCs, with the Pledge Agreement, and the 2016 Pledge Side Letter are, collectively, herein called the “Superior LLC Pledge Instruments” ): Under the Superior LLC Pledge Instruments, one hundred percent (100%) of the Equity Interests owned and held by Unit in Superior LLC, and all of Unit’s related rights, title and interests in all corresponding distributions, profits and proceeds arising therefrom, were (prior to the Superior Release Effective Date, if any) encumbered by Liens and corresponding negative covenants made in favor of the Administrative Agent (to benefit the Lenders). Effective as of and after the Superior Release Effective Date, the Administrative Agent and the Lenders agree that each instrument comprising the Superior LLC Pledge Instruments is deemed to have been released, terminated, and rendered null, void, and of no further force and effect, whereupon Administrative Agent shall, at Unit’s sole cost, file the release and termination instrument respecting the Superior UCCs (in form and substance acceptable to the Administrative Agent) in the appropriate public records of all applicable jurisdictions, to give effect to the foregoing agreements to terminate and release the Superior LLC Pledge Instruments.

(c)      As of the Fourth Amendment Effective Date, the Existing Credit Agreement is amended to delete the stricken text (indicated textually like this example: stricken text ) and to add the underlined text (indicated textually like this example: underlined text ) as set forth in the revised, conformed copy thereof attached as Exhibit B hereto, which is incorporated into this Fourth Amendment by this reference. Any Exhibits and Schedules to the Existing Credit Agreement not being amended and restated by this Fourth Amendment (whether by attaching same as stand-alone new exhibits or schedules to this Fourth Amendment, or by including same within the revised, conformed copy of the Loan Agreement attached as Exhibit B hereto), shall remain unmodified and of full force and effect as set forth in the Existing Credit Agreement.

5.      Post-Closing Obligations .

A. The Credit Parties shall have sixty (60) days following the Fourth Amendment Effective Date to sign and deliver the Oil and Gas Mortgages required under Section 6.11(a)(i) of the Credit Agreement (the 60 days may be extended by Administrative Agent in its sole

discretion), respecting the Oil and Gas Properties more particularly described on Exhibit A attached hereto and incorporated herein by this reference. Borrowers’ failure to timely deliver those Mortgages within the time provided shall constitute an immediate Event of Default under the Credit Agreement and no additional notice or cure period shall apply to that failure.

B. The Credit Parties shall have thirty (30) days following the Fourth Amendment Effective Date (which 30-days may be extended by Administrative Agent in its sole discretion) to sign and deliver to the Administrative Agent a pledge agreement (in form and substance substantially similar to the Pledge Agreement (as defined in the Existing Credit Agreement), and acceptable to Administrative Agent), pursuant to which the Credit Parties shall grant and pledge in favor of Administrative Agent (for the ratable benefit of the Lenders) first priority liens and security interests encumbering (i) all of each Credit Party’s respective Equity Interests held at such time in Superior LLC (which shall not be less than fifty percent (50%) of the aggregate Equity Interests held at such time in Superior LLC by all Persons holding any such Equity Interests), together with (ii) all of each Credit Party’s related rights, title and interests in and to all corresponding distributions, profits and proceeds arising therefrom. Contemporaneously with the Credit Parties’ delivery of such a pledge agreement to the Administrative Agent, the Administrative Agent shall cause a new UCC financing statement to be filed against each such grantor thereunder (in each jurisdiction as may deemed necessary by Administrative Agent), which shall include a description of the collateral as more particularly provided for in said pledge agreement. The Credit Parties’ failure to timely deliver such a pledge agreement within the time provided for herein shall constitute an immediate Event of Default under the Credit Agreement and no additional notice or cure period shall apply to that failure.

6.      Ratification of Representations, Warranties, Covenants and Other Provisions . The remaining terms, provisions and conditions in the Existing Credit Agreement and the other Loan Documents not modified hereby shall continue and remain in full force and effect, and are incorporated herein and ratified and adopted herein by this reference (including without limitation, the consents, waivers and other provisions of Article 17 thereof), with the same force and effect as if reiterated at length herein. The Borrowers hereby restate, confirm, and ratify the covenants in the Existing Credit Agreement and the other Loan Documents (after giving effect to this Fourth Amendment). The Borrowers represent and warrant to the Administrative Agent and the Lenders as of the Fourth Amendment Effective Date that the representations and warranties in the Existing Credit Agreement and the other Loan Documents (after giving effect to this Fourth Amendment) are true and correct in all material respects as of the Fourth Amendment Effective Date (except to the extent a representation or warranty is stated to relate solely to an earlier date, in which case such representations and warranties will have been true and correct on and as of such earlier date). The Borrowers further represent and warrant to the Administrative Agent and the Lenders as of the Fourth Amendment Effective Date (after giving effect to this Fourth Amendment) that: (i) no Default or Event of Default exists under the Existing Credit Agreement, as amended by this Fourth Amendment, or any other Loan Document; (ii) Borrowers have all necessary power and authority to sign, deliver and perform their respective obligations under the Existing Credit Agreement, as amended by this Fourth Amendment, and the other Loan Documents; (iii) the signing, delivery, and performance by the Borrowers of this Fourth Amendment has been duly authorized by all necessary action on their part; (iv) the Existing Credit Agreement, as amended by this Fourth Amendment, and the other Loan Documents has each been duly signed and delivered by the Borrowers and each Loan Document constitutes the legal, valid, and binding obligation of the Borrowers enforceable under its terms, except if the

enforceability thereof may be limited by bankruptcy, insolvency, reorganization, moratorium, or other similar laws generally affecting the enforcement of creditor’s rights and general principles of equity; (v) the signing and delivery of the Existing Credit Agreement, as amended by this Fourth Amendment, or any other Loan Document by the Borrowers and their performance of their respective obligations hereunder and thereunder require no authorizations, approvals, or consent, or registration or filing with, or further action by, any Governmental Authority, except for those that have been obtained or made and are in effect; and (vi) neither the signing and delivery of the Existing Credit Agreement, as amended by this Fourth Amendment, or any other Loan Document, nor compliance with the terms hereof or thereof, will contravene, or result in a breach of, the charter, by-laws, operating agreement, or other constituent corporate governance documents of the Borrowers, any requirement of applicable law, any agreement or instrument to which the Borrowers are a party or by which it is bound or to which it or its Property or assets are subject, or constitute a default under any such agreement or instrument.

7.      Conditions Precedent . This Fourth Amendment will become effective as of the Fourth Amendment Effective Date on each of these conditions precedent having been satisfied to the satisfaction of the Administrative Agent:

a.      the Borrowers have signed and delivered, or caused to be signed and delivered, to the Administrative Agent for the benefit of the Lenders, each of the following:

i. counterparts of this Fourth Amendment, including to the Subsidiary Guaranty ratification pages attached hereto and incorporated herein by this reference;

ii. a replacement Note for, and made payable by Borrowers to, each Lender that may request same;

iii. such good standing certificates and UCC searches of the Borrowers as required by the Administrative Agent; and

iv. such closing certificates and authorizing resolutions from each of the Credit Parties as Administrative Agent may require (all in form and substance acceptable to Administrative Agent).

b.      payment of all fees and expenses owed by Borrowers to the Administrative Agent that have been billed and submitted to the Administrative Agent and Unit as of the execution and delivery date hereof, including the reasonable attorneys’ fees and expenses of legal counsel for the Administrative Agent, to the extent billed; and

c.      counterparts of this Fourth Amendment have been signed by the Required Lenders and delivered to the Administrative Agent.

8.      Fees and Costs . Borrowers agree to pay (i) to the Administrative Agent on demand all reasonable and out-of-pocket expenses (including reasonable attorneys' fees), time charges, and expenses advanced of attorneys paid or incurred by the Administrative Agent in the preparation, negotiation, execution, closing, delivery, and administration of this Fourth Amendment and the transactions contemplated hereby, and (ii) to the Administrative Agent an

amendment fee in an amount under any separate fee letter, if any, between Administrative Agent and Borrowers to be payable to Administrative Agent and each Lender consenting to this Fourth Amendment (by signing hereof), which fee shall be deemed fully earned and non-refundable as of the date hereof.

9.      Effect on Credit Documents . Except only as amended in this Fourth Amendment, the Existing Credit Agreement and all other Loan Documents remain in full force and effect as heretofore signed and are hereby ratified, confirmed, and continued for all purposes. Nothing in this Fourth Amendment shall waive any of the Administrative Agent's or any Lender's rights under the Loan Documents (after giving effect to this Fourth Amendment), including the waiver of any Default or Event of Default, however denominated. Borrowers acknowledge and agree this Fourth Amendment does not impair or affect the validity or enforceability of the Existing Credit Agreement, as amended by this Fourth Amendment. This Fourth Amendment is a Loan Document for the purposes of the other Loan Documents. All references to the "Loan Agreement" or the "Credit Agreement" appearing in the Loan Documents (or to “this Agreement” as set forth within the Existing Credit Agreement or in this Fourth Amendment) shall hereafter be deemed references to the Existing Credit Agreement, as amended, modified and supplemented by this Fourth Amendment (and as the same may be further amended, amended and restated, supplemented, or otherwise modified from time to time). To the extent of any conflict or inconsistency between the terms and conditions in the Existing Credit Agreement, and the terms and conditions in this Fourth Amendment, the terms and conditions in this Fourth Amendment shall govern and control. Without limiting the foregoing, any breach of representations, warranties, and covenants under this Fourth Amendment shall be a Default or Event of Default under Article 10 of the Existing Credit Agreement, as applicable.

10.      Waiver and Release . In consideration of the amendments and renewals contained herein, and as a material inducement to Administrative Agent and the Lenders signing this Fourth Amendment, each of the Borrowers hereby waives and releases the Administrative Agent and the Lenders from any and all claims, damages, disputes, defenses, and setoffs, known or unknown, foreseen or unforeseen, as of the Fourth Amendment Effective Date, which may arise or accrue (or may have arisen or accrued) under or otherwise regarding the Existing Credit Agreement, the other Loan Documents, and/or the transactions contemplated hereby and thereby.

11.      Recitals . The Recitals in this Fourth Amendment are, by this reference, incorporated into and deemed a part of this Fourth Amendment.

12.      Counterparts . This Fourth Amendment may be signed by one or more of the parties hereto in any number of separate counterparts, and all of such counterparts taken together shall be deemed to constitute the same instrument. Delivery of this Fourth Amendment by facsimile or electronic transmission (e.g., pdf) shall be effective as delivery of a manually signed counterpart.

13.      No Course of Dealing . This Fourth Amendment does not establish a course of dealing or be construed as evidence of any willingness or commitment by Administrative Agent or any Lender to agree to other or future amendments to or modifications of the Loan Documents.

14.      Miscellaneous Provisions . Articles 12, 16, and 17 of the Existing Credit Agreement are incorporated herein by reference as if set forth fully herein and such provisions shall apply to this Fourth Amendment, mutatis mutandis .

15.      Further Assurances . The Borrowers shall immediately sign and deliver to the Administrative Agent, for the benefit of the Lenders, on request all other instruments as required or desired by the Administrative Agent or the Lenders from time to time in compliance with or in accomplishment of the covenants and agreements of the Borrowers made in this Fourth Amendment and any other instruments and documents referred to or mentioned herein, all as may be necessary or appropriate in connection therewith (as determined by the Administrative Agent and the Lenders in their respective discretion).

16.      ENTIRE AGREEMENT . THIS FOURTH AMENDMENT AND THE OTHER LOAN DOCUMENTS REPRESENT THE FINAL AGREEMENT AMONG THE PARTIES AND MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS, OR SUBSEQUENT ORAL AGREEMENTS OF THE PARTIES. THERE ARE NO UNWRITTEN ORAL AGREEMENTS AMONG THE PARTIES.

[Signature Page Follows]

IN WITNESS WHEREOF, the parties have caused this Fourth Amendment to be duly executed and delivered, effective as of the day and year first above written.

BORROWERS:

UNIT CORPORATION , a Delaware corporation,

UNIT PETROLEUM COMPANY , an Oklahoma

corporation,

UNIT DRILLING COMPANY , an Oklahoma

corporation,

SUPERIOR PIPELINE COMPANY, L.L.C. ,

a Delaware limited liability company (formerly an Oklahoma limited liability company),

SUPERIOR PIPELINE TEXAS, L.L.C., an Oklahoma limited liability company, and

SUPERIOR APPALACHIAN PIPELINE, L.L.C., an Oklahoma limited liability company

By: /s/ Larry D. Pinkston

Larry D. Pinkston, as President of each of

UNIT CORPORATION,

UNIT PETROLEUM COMPANY, and

UNIT DRILLING COMPANY, and as Chairman of SUPERIOR PIPELINE COMPANY, L.L.C., and as

Manager of each of SUPERIOR APPALACHIAN PIPELINE, L.L.C., and

SUPERIOR PIPELINE TEXAS, L.L.C.

8200 South Unit Drive

Tulsa, Oklahoma 74132-5300

Attention: Larry Pinkston

Telephone: (918) 493-7700

Facsimile: (918) 493-7711

SUBSIDIARY GUARANTY RATIFICATION

By signing below, each of the undersigned Subsidiary Guarantors: (a) acknowledges, consents and agrees to the execution, delivery and performance by the Borrowers of this Fourth Amendment; (b) acknowledges and agrees that its obligations in respect of its Subsidiary Guaranty (i) are not released, diminished, waived, modified, impaired or affected in any manner by this Fourth Amendment or any of the provisions contemplated herein, and (ii) cover the Commitments as amended and modified by this Fourth Amendment; (c) ratifies and confirms its obligations under its Subsidiary Guaranty; (d) acknowledges and agrees that it has no claim or offsets against, or defenses or counterclaims to, its Subsidiary Guaranty; and (e) acknowledges and agrees that notwithstanding anything in its Subsidiary Guaranty to the contrary, “Guaranteed Obligations” as defined in its Subsidiary Guaranty with respect to such Subsidiary Guarantor shall not include Excluded Swap Obligations.

UNIT DRILLING AND EXPLORATION COMPANY, PRESTON COUNTY GAS GATHERING, L.L.C. and PETROLEUM SUPPLY COMPANY,

By /s/ Mark E. Schell

Mark E. Schell, Senior Vice President

BOKF, NA dba Bank of Oklahoma, as LC Issuer, as Administrative Agent, and as a Lender

By: /s/ Pam Schloeder

Pam Schloeder

Senior Vice President

101 East Second Street

Bank of Oklahoma Tower - 8 ^th floor/Energy Department

One Williams Center

Tulsa, Oklahoma 74172

Telephone: (918) 588-6012

Facsimile: (918) 588-6880

COMPASS BANK , a Lender

By: /s/ Kathleen J, Bowen

Kathleen J. Bowen

Managing Director

2200 Post Oak Blvd.

17 ^th Floor

Houston, Texas 77056

Telephone: (713) 968-8273

BANK OF AMERICA, N.A. , a Lender

By: /s/ Bryan Heller

Bryan Heller

Director

One Bryant Park, NY1-100-18-07

New York, New York 10036

Telephone: (646) 855-1833

BMO HARRIS FINANCING, INC., a Lender

By: /s/ Kevin Utsey

Kevin Utsey

Director

    

BMO Capital Markets/Houston Agency

700 Louisiana Street, Suite 2100

Houston, Texas 77002

Telephone: (713) 546-9720

Facsimile: (713) 223-4007

WELLS FARGO BANK, N.A., a Lender

By: /s/ David C. Brooks

David C. Brooks

Director

    

1445 Ross Avenue

Suite 4500

MAC T9216-451

Dallas, TX 75202

Telephone: (214) 721-8219

Facsimile: (214) 721-8215

COMERICA BANK, a Lender

By: /s/ Jeff LaBauve

Jeff LaBauve

Vice President

1717 Main Street

Dallas, Texas 75201

Telephone: (214) 462-4418

CANADIAN IMPERIAL BANK OF

COMMERCE, NEW YORK BRANCH , a Lender

By: /s/ Trudy W. Nelson

Trudy W. Nelson

Authorized Signatory

By: /s/ Richard Antl

Richard Antl

Authorized Signatory

333 Clay Street, Suite 4510

Three Allen Center

Houston, Texas 77002

Telephone: (713) 210-4103

Facsimile: (713) 210-4129

TORONTO DOMINION (NEW YORK), LLC ,

a Lender

By: /s/ Katherine Hawara

Katherine Hawara

Authorized Signatory

Toronto Dominion (New York), LLC

31 West 52 ^nd Street, 21 ^st Floor

New York, NY 10019-6101

Telephone: (416) 983-5700

Facsimile: (416) 983-0003

EXHIBIT B

TO

FOURTH AMENDMENT TO

SENIOR CREDIT AGREEMENT

(CONFORMED COPY OF THE SENIOR CREDIT AGREEMENT, AS OF THE FOURTH AMENDMENT EFFECTIVE DATE, THROUGH AND INCLUDING THE FOURTH AMENDMENT THERETO)

[SEE ATTACHED]

CONFORMED COPY OF

SENIOR CREDIT AGREEMENT

DATED AS OF SEPTEMBER 13, 2011

AS AMENDED BY 9/5/12 FIRST AMENDMENT, 4/10/15 SECOND AMENDMENT, 4/8/16 THIRD AMENDMENT, AND 4/2/18 FOURTH AMENDMENT

AMONG

UNIT CORPORATION,

SUPERIOR PIPELINE COMPANY, L.L.C.,

UNIT DRILLING COMPANY,

UNIT PETROLEUM COMPANY,

SUPERIOR PIPELINE TEXAS, L.L.C.,

and

SUPERIOR APPALACHIAN PIPELINE, L.L.C,

AS BORROWERS,

and

THE LENDERS,

BOKF, NA, DBA BANK OF OKLAHOMA,

AS ADMINISTRATIVE AGENT FOR THE LENDERS,

and with

COMPASS BANK

as

JOINT-LEAD ARRANGERS, JOINT BOOKRUNNERS AND CO-SYNDICATION AGENTS,

and with

BANK OF AMERICA, N.A. AND BANK OF MONTREAL,

as

CO-DOCUMENTATION AGENTS

SENIOR CREDIT AGREEMENT

THIS SENIOR CREDIT AGREEMENT is effective as of September 13, 2011 (as amended by each of the First Amendment, the Second Amendment, the Third Amendment, and the Fourth Amendment, collectively, this “ Agreement” ). It is among:

UNIT CORPORATION, a Delaware corporation ( “Unit” ), UNIT DRILLING COMPANY, an Oklahoma corporation ( “Unit Drilling” ), UNIT PETROLEUM COMPANY, an Oklahoma corporation ( “Unit Petroleum” ), SUPERIOR PIPELINE COMPANY, L.L.C., a Delaware limited liability company (formerly an Oklahoma limited liability company) ( “Superior LLC” ), SUPERIOR PIPELINE TEXAS, L.L.C., an Oklahoma limited liability company ( “Superior TX” ), SUPERIOR APPALACHIAN PIPELINE, L.L.C., an Oklahoma limited liability company ( “Superior APP” ; Superior APP, together with each of Superior TX and Superior LLC, are herein referred to, collectively, as “Superior” ) (subject to prospective automatic revision as more particularly described within the definition of “Borrower(s)” as set forth in Section 1.1 below, each of Unit, Unit Drilling, Unit Petroleum and each Person constituting Superior, together with each existing Material Subsidiary of each of the foregoing Persons, and each of their respective successors and assigns, including any receiver, trustee or debtor-in-possession, is each, individually, herein referred to as a “Borrower” , and, collectively, jointly and severally, as the “Borrowers” ),

and

BOKF, NA, dba Bank of Oklahoma, formerly Bank of Oklahoma, National Association (“ BOk ”), COMPASS BANK (“ BBVA Compass ”), BOk and BBVA Compass as joint lead arrangers, joint bookrunners and co-syndication agents (“ Syndication Agents ”), BANK OF AMERICA, N.A. (“ B of A ”),and BANK OF MONTREAL (“ BMO ”), as co-documentation agents (“Documentation Agents”), the lenders now or at various times later signatories to this Agreement (the current lender parties to this Agreement and the Additional Lenders that may become signatory parties to this Agreement, each being sometimes referred to in this Agreement, individually, as a “ Lender ,” and collectively as the “ Lenders ”);

and

BOk as administrative agent for the Lenders (in that capacity, referred to as the “ Administrative Agent ”).

RECITALS

dated as of December 23, 2008 (collectively, the “ Original Credit Agreement ”). The Original Lenders provided certain loans and extensions of revolving credit to such Original Borrowers (all indebtedness arising and all obligations, including contingent liabilities on letters of credit issued under the Original Credit Agreement are collectively called the “ Original Indebtedness “);

    

by, Administrative Agent (the “Superior Sale” ), subject to the conditions that (i) the Superior Sale results in net sales proceeds inuring to Unit over two hundred million dollars ($200,000,000) (with $200,000,000 being herein called the “Superior Sale Net Proceeds” ), and (ii) Borrowers shall, on the same Business Day of Unit’s receipt of the Superior Sale Net Proceeds, cause the Superior Sale Net Proceeds to be paid to Administrative Agent (for the ratable benefit of the Lenders) to pay down the existing outstanding principal balance of the Outstanding Credit Exposure by the Superior Sale Net Proceeds (the conditions in preceding sub-clauses (i) and (ii) of this clause (x) of this Recital E, are herein, together, called the “Superior Sale Paydown Conditions” ); and (y) requested that Administrative Agent and the Required Lenders consent to permit Unit to facilitate and consummate the Superior Sale, subject to (without limitation) the Superior Sale Paydown Conditions, and at closing of the Superior Sale automatically remove and irrevocably release and discharge each Person constituting Superior and their respective Subsidiaries as a Borrower, Subsidiary Guarantor and/or co-obligor under the Existing Credit Agreement and the other Loan Documents, provided that the Superior Sale Paydown Conditions shall have been duly satisfied (the “Superior Release” ), with no further action being required to effectuate the foregoing as more particularly described in Section 4 of the Fourth Amendment. Administrative Agent and Required Lenders are agreeable to granting such consents, subject to the foregoing and the Fourth Amendment.

NOW, THEREFORE, the parties agree as follows:

ARTICLE 1

DEFINITIONS

1.1     Defined Terms . The following terms have the meaning specified below:

“ 2016 Pledge Side Letter ” has the meaning ascribed thereto in the Fourth Amendment.

“ 2016 UCC ” has the meaning ascribed thereto in the Fourth Amendment.

“ 2017 UCC ” has the meaning ascribed thereto in the Fourth Amendment.

“ Acquisition ” means any transaction, or any series of related transactions, consummated on or after the date of this Agreement, by which any of the Credit Parties (i) acquires, by any means, any going business or all or substantially all of the assets of any Person, (ii) directly or indirectly acquires (in one transaction or as the most recent transaction in a series of transactions) at least a majority (in number of votes) of the securities of a corporation which have ordinary voting power for the election of directors (other than securities having power only by reason of the happening of a contingency) or a majority (by percentage or voting power) of the outstanding ownership interests of a partnership or limited liability company, or (iii) acquires individually or together Oil and Gas Properties (and ancillary assets), gas gathering systems or gas processing plants, or drilling rigs (and ancillary equipment).

“ Administrative Agent ” means BOk in its capacity as contractual administrative agent of the Lenders.

“ Advance ” means a borrowing under Article 2, (i) made by the Lenders on the same Borrowing Date, or (ii) converted or continued by the Lenders on the same date of conversion or continuation, consisting, in either case, of Loans of the same type (either Floating Rate Advance or Eurodollar Advance) and, in the case of Eurodollar Loans, for the same Interest Period.

“ Affiliate ” of any Person means any other Person directly or indirectly controlling, controlled by or under common control with that Person. A Person will be deemed to control another Person if the controlling Person owns 10% or more of any class of voting securities (capital stock, general or limited partnership units or interests, limited liability company membership interests or association or other business entity shares, participations, rights or other equivalent ownership interests, however designated) of the controlled Person or possesses, directly or indirectly, the power to direct or cause the direction of the management or policies of the controlled Person, whether through ownership of stock, by contract or otherwise. From and after the Superior Release Effective Date, the term “Affiliate” shall not include Superior or any of their respective Subsidiaries for any purposes of this Agreement, other than for the limited purposes of Section 7.7 hereof.

“ Alternate Base Rate ” means, for any day, a rate of interest per annum equal to the higher of (i) the Prime Rate for that day, or (ii) the sum of the Federal Funds Effective Rate for that day plus one-half of one percent (0.50%); but, in no event shall the Alternate Base Rate be less than the sum of (x) the Eurodollar Rate for that day for a Eurodollar Loan with a one month Interest Period plus (y) one hundred basis points (1.00%).

“ Anti-Corruption Laws ” mean, collectively, the FCPA, the UK Bribery Act of 2010, and all other legal requirements and guidelines of any jurisdiction applicable to any Credit Party from time to time concerning or relating to bribery or corruption.

“ Anti-Money Laundering Laws ” mean, collectively, all applicable financial recordkeeping and reporting requirements and the money laundering statutes and the rules and regulations thereunder and any related or similar legal requirements or guidelines, which in each case are issued, administered or enforced by any Governmental Authority having jurisdiction over any Credit Party.

“ Applicable Margin ” means the percentage rate per annum set forth in the Pricing Schedule.

“ Authorized Officer ” means the president, the chief financial officer, any vice president, the treasurer or any assistant treasurer of the Borrowers, acting singly.

“ Available Total Commitment ” means, at any time, the Total Commitment then in effect minus the Total Outstanding Credit Exposure.

“ 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.

“ Borrower(s) ” means: (a) prior to the occurrence of the Superior Release Effective Date, if any, in accordance with the Fourth Amendment, Unit, Unit Drilling, Unit Petroleum, Superior APP, Superior TX and Superior LLC, together with each existing Material Subsidiary of each of the foregoing Persons, and each of their respective successors and assigns, including any receiver, trustee or debtor-in-possession, is each, individually, herein referred to as a “Borrower” , and, collectively, jointly and severally, as the “Borrowers” ; and (b) after the occurrence of the Superior Release Effective Date, if any, in accordance with the Fourth Amendment, Unit, Unit Drilling and Unit Petroleum, together with each existing Material Subsidiary of each of the foregoing Persons, and each of their respective successors and assigns, including any receiver, trustee or debtor-in-possession, is each, individually, herein referred to as a “Borrower” , and, collectively, jointly and severally, as the “Borrowers” .

“ Borrowing Base ” means, at the time in question, either the amount provided for in Section 2.6.1 or the amount otherwise determined in accordance with the remaining provisions of Section 2.6.

“ Borrowing Base Properties ” means: (i) the Oil and Gas Properties and; (ii) until such time as the Superior Release Effective Date, if any, shall have occurred in accordance with the Fourth Amendment, the Superior Cash Flow; each as evaluated by Lenders for purposes of establishing the Borrowing Base.

“ Borrowing Base Usage Percentage ” means, for any day, the percentage equal to the quotient of (i) the Total Outstanding Credit Exposure on that day, divided by (ii) the Borrowing Base.

“ Borrowing Date ” means the date an Advance is made under this Agreement.

“ Business Day ” means (i) with respect to any borrowing, payment or rate selection of Eurodollar Advances, a day (other than a Saturday or Sunday) on which banks generally are open in Tulsa, Oklahoma, and New York City, New York, for the conduct of substantially all of their commercial lending activities, interbank wire transfers can be made on the Fedwire system and dealings in United States dollars are carried on in the London interbank market and (ii) for all other purposes, a day (other than a Saturday or Sunday) on which banks generally are open in Tulsa, Oklahoma, for the conduct of substantially all of their commercial lending activities and interbank wire transfers can be made on the Fedwire system.

“ Capitalized Lease ” of a Person, means any lease of Property by that Person as lessee which would be capitalized on that Person’s balance sheet prepared in accordance with GAAP.

“ Capitalized Lease Obligations ” of a Person means the amount of the obligation of that Person under Capitalized Leases which would be shown as a liability on that Persons balance sheet prepared in accordance with GAAP; provided that (i) 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, and (ii) any lease entered into after the Fourth Amendment Effective Date that would have been considered

an operating lease under the provisions of GAAP, in each case, shall be treated as an operating lease for all purposes under the Fourth Amendment, provided further, in no event shall the aggregate amount of the obligations under operating leases and/or leases addressed in clauses (i) and (ii) above exceed $25,000,000.00.

“ Cash Equivalent Investments ” means (i) short-term obligations of, or fully guaranteed by, the United States of America, (ii) commercial paper rated A-1 or better by S&P or P-1 or better by Moody’s, (iii) demand deposit accounts maintained in the ordinary course of business, and (iv) certificates of deposit issued by and time deposits with commercial banks (whether domestic or foreign) having capital and surplus in excess of $100,000,000; provided in each case that the same provides for payment of both principal and interest (and not principal alone or interest alone) and is not subject to any contingency regarding the payment of principal or interest.

“ Change in Control ” means the acquisition by any Person, or two or more Persons acting in concert, of beneficial ownership (within the meaning of Rule 13d-3 of the Securities and Exchange Commission under the Securities Exchange Act of 1934) of 30% or more of the outstanding shares of voting stock of Unit.

“ Code ” means the Internal Revenue Code of 1986, as amended, reformed or otherwise modified from time to time.

“ Commitment ” means, for each Lender, (i) the obligation of that Lender to make Loans to, and participate in LCs issued on the application of, one or more Borrowers in a total amount not to exceed the amount set forth for that Lender on the Lenders’ Schedule, or (ii) as set forth in any Notice of Assignment relating to any assignment that has become effective under Section 14.3.2, as that amount in either case may be modified from time to time under this Agreement. In no event will a Lender’s Commitment exceed the lesser of that Lender’s Pro Rata Share of (i) the Borrowing Base, or (ii) Maximum Credit Amount.

“ Commitment Fee Rate ” means, at any time, the per annum percentage rate at which commitment fees are accruing on the Available Total Commitment under Section 2.5.2 at that time at the rate set forth in the Pricing Schedule.

“ 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 EBITDA ” means the sum of: (I) all dividends and distributions received by Borrowers and their Subsidiaries (excluding Unrestricted Subsidiaries) from any Unrestricted Subsidiary; plus (II) Consolidated Net Income, plus, to the extent deducted in determining Consolidated Net Income, (a) Consolidated Interest Expense, (b) expense for income and income based taxes paid or accrued, (c) depreciation, depletion, and amortization, all calculated on a consolidated basis, (d) non-cash expenses of the Borrowers and their Subsidiaries associated with stock-based compensation reducing such Consolidated Net Income which do not represent a cash item in such period or any future period, (e) any net loss reducing Consolidated Net Income in connection with any disposition of assets, (f) any extraordinary, unusual or non-cash expenses or losses of Borrowers and their Subsidiaries reducing Consolidated Net Income which do not

represent a cash item in such period or any future period, and (g) all other non-cash charges, minus all non-cash income, added to Consolidated Net Income.

“ Consolidated Interest Expense ” means, for any period with respect to any Person, the amount which, under GAAP would be set forth opposite the caption “interest expense” or any like caption (including without limitation, imputed interest included in payments under any Capitalized Lease) on a consolidated income statement of that Person and its Subsidiaries for the period excluding the amortization of any original issue discount.

“ Consolidated Net Income ” means, with reference to any period, the net income (or loss) of the Borrowers and their Subsidiaries (other than Unrestricted Subsidiaries, whose net income (or loss) is hereby excluded from “Consolidated Net Income” for all purposes of this Agreement) calculated on a consolidated basis for such period; but there will not be included in Consolidated Net Income (to the extent it otherwise would be included) any of the following: (a) any after tax extraordinary gain or loss, along with any provisions for taxes on such gain or loss and all related fees and expenses; (b) the cumulative effect of a change in accounting principles; (c) any asset impairment write-downs on Oil and Gas Properties under GAAP or SEC guidelines; (d) any consolidated impairment charges recorded in connection with the application of ASC 350 "Goodwill and Other Intangibles;" (e) any unrealized non-cash gains or losses on charges in respect of Rate Management Obligations or hedging obligations (including those resulting from the application of ASC 815); (f) income or loss attributable to discontinued operations (including operations disposed of during such period whether or not such operations were classified as discontinued), (g) all deferred financing costs written off, and premiums paid, in connection with any early extinguishment of Indebtedness, (h) non-cash expenses of the Borrowers and their Subsidiaries (other than Unrestricted Subsidiaries) associated with stock-based plans reducing such Consolidated Net Income which do not represent a cash item in such period or any future period, and (i) any other non-cash charges; and provided further that if the Borrowers and their Subsidiaries (other than Unrestricted Subsidiaries) shall acquire or dispose of any Property during such period, then Consolidated Net Income shall be calculated after giving the pro forma effect to such acquisition or disposition in accordance with GAAP approved by the Administrative Agent, as if such acquisition or disposition had occurred on the first day of such period.

“ Contingent Obligation ” of a Person means any agreement, undertaking or arrangement by which that Person assumes, guarantees, endorses, contingently agrees to purchase or provide funds for the payment of, or otherwise becomes or is contingently liable on, the obligation or liability of any other Person, or agrees to maintain the net worth or working capital or other financial condition of any other Person, or otherwise assures any creditor of the other Person against loss, including, without limitation, any comfort letter, take-or-pay contract or the obligations of any Person as general partner of a partnership with respect to the liabilities of the partnership.

“ Controlled Group ” means all members of a group of corporations or other business entities and all trades or businesses (whether or not incorporated) which, together with the Borrowers or any of their respective Subsidiaries, are treated as a single employer under Section 414 of the Code.

“ Credit Extension ” means the making of an Advance or the issuance of a LC under this Agreement.

“ Credit Extension Date ” means the Borrowing Date for an Advance or the issuance date for an LC.

“ Credit Parties ” means, collectively, the Borrowers and the Subsidiary Guarantors, and “ Credit Party means any one of them.

“ Default ” means any event or condition that upon notice, lapse of time or both would constitute of Event of Default.

“ Defaulting Lender ” means any Lender, as determined by the Administrative Agent, that has (a) failed to fund any portion of its Loans or participations in LCs within three (3) Business Days of the date required to be funded by it hereunder, (b) notified Unit, the Administrative Agent or the LC Issuer or any Lender in writing that it does not intend to comply with any of its funding obligations under this Agreement or has made a public statement to the effect that it does not intend to comply with its funding obligations under this Agreement or under other agreements in which it commits to extend credit, (c) failed, within three (3) Business Days after request by the Administrative Agent, to confirm that it will comply with the terms of this Agreement relating to its obligations to fund prospective Loans and participations in then outstanding LCs, (d) otherwise failed to pay over to the Administrative Agent, any other Lender or any Borrower any other amount required to be paid by it hereunder within three (3) Business Days of the date when due, unless the subject of a good faith dispute, (e) (i) become or is insolvent or has a parent company that has become or is insolvent or (ii) become the subject of a bankruptcy or insolvency proceeding, or has had a receiver, conservator, trustee, administrator, assignee for the benefit of creditors or similar Person charged with reorganization or liquidation of its business or custodian, appointed for it, or has taken any action in furtherance of, or indicating its consent to, approval of or acquiescence in any such proceeding or appointment or has a parent company that has become the subject of a bankruptcy or insolvency proceeding, or has had a receiver, conservator, trustee, administrator, assignee for the benefit of creditors or similar Person charged with reorganization or liquidation of its business or custodian appointed for it, or has taken any action in furtherance of, or indicating its consent to, approval of or acquiescence in any such proceeding or appointment; provided, however, that a Lender shall not be a “Defaulting Lender” solely because the Federal Deposit Insurance Corporation or other applicable federal or state regulatory agency has been appointed as receiver, interim receiver, monitor, conservator, trustee or custodian for any parent company of such Lender or acquired an ownership interest in such parent company, provided that and only for as long as (i) such appointment or acquisition does not result in or provide such Lender with immunity from the jurisdiction of courts within the United States or from the enforcement of judgments or writs of attachment on its assets or permit such Lender (or such applicable federal or state regulatory agency or instrumentality) to reject, repudiate, disavow or disaffirm any contracts or agreements made by such Lender, (ii) such Lender confirms in writing, upon request by the Administrative Agent, that it will continue to comply with its obligations to make Loans and fulfill all other obligations required to be made and fulfilled by it hereunder, and (iii) such Lender complies with its obligations to make all Loans and fulfill all other obligations required to be made or fulfilled

by it hereunder; or (f) that has, or that has a direct or indirect parent company that has, become the subject of a Bail-In Action.

“ Deficiency ” has the meaning assigned thereto in Section 2.6.7.

“ Determination Date ” has the meaning assigned thereto in Section 2.6.3(c).

“ Disclosure Schedule ” means Schedule 3.

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

“ 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.

“ Engineering Report ” means each engineering report delivered under Section 6.1(vii) or (viii), as applicable.

“ Environmental Laws ” means any and all federal, state, local and foreign statutes, laws, judicial decisions, regulations, ordinances, rules, judgments, orders, decrees, plans, injunctions, permits, concessions, grants, franchises, licenses, agreements and other governmental restrictions relating to (i) the protection of the environment, (ii) the effect of the environment on human health, (iii) emissions, discharges or releases of pollutants, contaminants, hazardous substances or wastes into surface water, ground water or land, or (iv) the manufacture, processing, distribution, use, treatment, storage, disposal, transport or handling of pollutants, contaminants, hazardous substances or wastes or the clean-up or other remediation thereof.

“ Equity Interest ” and “ Equity Interests ” mean, individually or collectively as the context requires, 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.

“ ERISA ” means the Employee Retirement Income Security Act of 1974, as amended from time to time, and any rule or regulation issued thereunder.

“ 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 Advance ” means an Advance which, other than as provided in Section 2.12, bears interest at the applicable Eurodollar Rate.

“ Eurodollar Base Rate ” means, with respect to a Eurodollar Advance for the relevant Interest Period, a rate (expressed to the fifth decimal place) equal to (i) the rate of interest which is identified and normally published by ICE Benchmark Administration (the "LIBOR") as the offered rate for loans in United States dollars for the applicable Interest Period as of 11:00 a.m. (London time), on the second full Business Day next preceding the first day of such Interest Period (unless such date is not a Business Day, in which event the next succeeding Business Day will be used); plus (ii) the maximum reserve requirement, if any, then imposed under Regulation D of the Board of Governors of the Federal Reserve System (or any successor thereto) for “Eurocurrency Liabilities” (as defined therein); provided, however, that if LIBOR determined as provided above shall be less than zero, LIBOR shall be deemed to be zero for the purposes of this Agreement. If ICE Benchmark Administration no longer reports the LIBOR or Administrative Agent determines in good faith that the rate so reported no longer accurately reflects the rate available to Lender in the London Interbank Market or if such index no longer exists or accurately reflects the rate available to Administrative Agent in the London Interbank Market, Administrative Agent may select a replacement index.

“ Eurodollar Loan ” means a Loan that, except as otherwise provided in Section 2.12, bears interest at the applicable Eurodollar Rate.

“ Eurodollar Rate ” means, with respect to any Interest Period, an interest rate per annum equal to the sum of (i) the quotient of (a) the Eurodollar Base Rate applicable to the Interest Period, divided by (b) one minus the Reserve Requirement (expressed as a decimal) applicable to the Interest Period, plus (ii) the Applicable Margin, based on a 360 day year.

“ Event of Default ” means the occurrence of any of the events described in Section 10.1.1-10.1.15, inclusive.

“ Excluded Swap Obligation ” means, with respect to any Subsidiary Guarantor, any Rate Management Obligation if, and to the extent that, all or a portion of the Subsidiary Guaranty of such Subsidiary Guarantor of, or the grant by such Subsidiary Guarantor of a security interest to secure, such Rate Management Obligation (or any Subsidiary Guaranty thereof) is or becomes illegal under the Commodity Exchange Act or any rule, regulation or order of the Commodity Future Trading Commission (or the application or official interpretation of any thereof) by virtue of such Subsidiary Guarantor’s failure for any reason to constitute an “eligible contract participant” as defined in the Commodity Exchange Act (determined after giving effect to Section 10.20 and any other “keepwell, support or other agreement” for the benefit of such Subsidiary Guarantor and any and all guarantees of such Subsidiary Guarantor’s Rate Management Obligations by other Credit Parties) at the time the Subsidiary Guaranty of such Subsidiary Guarantor, or a grant by such Subsidiary Guarantor of a security interest, becomes effective with respect to such Rate Management Obligation. If a Rate Management Obligation arises under a master agreement governing more than one swap, such exclusion shall apply only to the portion of such Rate Management Obligation that is attributable to swaps for which such Guaranty or security interest is or becomes illegal.

“ Excluded Taxes ” means, in the case of each Lender, each LC Issuer and the Administrative Agent, (a) Taxes imposed on its overall net income, and franchise taxes imposed on it, by (i) the jurisdiction under the laws of which such Lender, Administrative Agent or LC Issuer is incorporated or organized, (ii) the jurisdiction in which the Administrative Agent’s, the LC Issuer’s or the Lender’s principal executive office is or applicable lending or issuing office located (iii) the jurisdiction with which the Administrative Agent, the Lender or the LC Issuer has a present or former connection (other than a connection arising solely from the transactions specifically contemplated by this Agreement), (b) any Taxes imposed under the laws of the United States of America or any political subdivision thereof or therein that would apply if any payment were made under any of the Loan Documents to the Lender or the LC Issuer on the day the Lender becomes a Lender or the LC Issuer becomes an LC Issuer (or, in either case, designates a new lending or issuing office); (c) and Taxes that are attributable to the Lender’s or the LC Issuer’s failure to comply with Section 3.3(v) of this Agreement; and (d) any applicable Taxes imposed under Sections 1471-1474 of the Code as of the date of this Agreement and any current or future regulations or official interpretations thereof.

“ Existing Subordinated Note Indenture Additional Parties ” means those Subsidiaries of the Credit Parties that are signatories to the Existing Subordinated Note Indenture that are not Credit Parties under this Agreement (consisting of, as of the date of this Agreement, Unit Texas Company, Unit Drilling and Exploration Company, Petroleum Supply Company, Unit Drilling USA Columbia, L.L.C., Unit Drilling Columbia, L.L.C. and Preston County Gas Gathering, L.L.C).

“ Existing Subordinated Notes ” means Unit’s 6-5/8% Senior Subordinated Notes due 2021 issued pursuant to the Existing Subordinated Notes Indenture.

“ Existing Subordinated Notes Indenture ” means the Indenture dated as of May 18, 2011 between Unit and Wilmington Trust FSB and the First Supplemental Indenture dated as of May 18, 2011 by and among Unit, the Subsidiary Guarantors (as therein defined) party thereto and Wilmington Trust FSB, in each case as amended, supplemented or otherwise modified from time to time.

“ Facility Termination Date ” means April 10, 2020, as that date may be extended pursuant to Section 3.8, or any earlier date on which the Total Commitment is reduced to zero or otherwise terminated under the terms of this Agreement.

" FATCA " means Sections 1471 through 1474 of the Code, as of the date hereof, (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, any agreements entered into pursuant to Section 1471(b)(1) of the Code and any applicable intergovernmental agreements entered into by the United States that implement the foregoing.

“ FCPA ” means The United States Foreign Corrupt Practices Act of 1977 (Pub. L. No. 95 213, §§101 104), as amended or replaced.

“ Federal Funds Effective Rate ” means, for any day, an interest rate per annum equal to the weighted average of the rates on overnight Federal funds transactions with members of the

Federal Reserve System arranged by Federal funds brokers on that day, as published for that day (or, if that day is not a Business Day, for the prior Business Day) by the Federal Reserve Bank of New York, or, if the rate is not published for any day which is a Business Day, the average of the quotations at approximately 10:00 a.m. (Tulsa time) on that day on those transactions received by the Administrative Agent from three Federal funds brokers of recognized standing selected by the Administrative Agent in its sole discretion.

“ Financial Contract ” of a Person means (i) any exchange-traded or over-the-counter futures, forward, swap, hedge or option contract or other financial instrument with similar characteristics, (ii) any Rate Management Transaction and (iii) with respect to any Subsidiary Guarantor any obligations owed to any Lender or any Affiliate of a Lender 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.

“ First Amendment ” means the First Amendment and Consent to Senior Credit Agreement dated as of September 5, 2012, among the Borrowers, the Administrative Agent and the Lenders party thereto.

“ Floating Rate ” means, for any day, a rate per annum equal to the sum of (i) the Alternate Base Rate for that day, changing when and as the Alternate Base Rate changes, plus (ii) the Applicable Margin.

“ Floating Rate Advance ” means an Advance which, except as otherwise provided in Section 2.12, bears interest at the Floating Rate.

“ Floating Rate Loan ” means a Loan which, except as otherwise provided in Section 2.12, bears interest at the Floating Rate.

“ Flood Insurance Regulations ” means (a) the National Flood Insurance Act of 1968 as now or hereafter in effect or any successor statute thereto, (b) the Flood Disaster Protection Act of 1973 as now or hereafter in effect or any successor statute thereto, (c) 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, (d) the Flood Insurance Reform Act of 2004 and (e) any regulations promulgated under any of the foregoing.

“ Foreign Subsidiary ” means (i) any Subsidiary that is not incorporated or organized under the laws of the United States, any State thereof or the District of Columbia, and (ii) any Subsidiary of a Subsidiary described in clause (i).

“ Fourth Amendment ” means the Fourth Amendment to Senior Credit Agreement dated as of the Fourth Amendment Effective Date among the Borrowers, the Administrative Agent and the Lenders party thereto.

“ Fourth Amendment Effective Date ” means April 2 , 2018.

“ Fourth Amendment Exiting Lender ” has the meaning ascribed thereto in the Fourth Amendment.

“ Funded Debt ” means all outstanding long term Indebtedness of the Borrowers in accordance with GAAP excluding deferred Taxes, non cash hedging obligations under ASC 815 and the plugging and abandonment accrued liabilities described in Section 7.8(iv).

“ GAAP ” means generally accepted accounting principles as in effect from time to time in the United States. At any time after the date of this Agreement, the Borrowers, may elect to apply International Financial Reporting Standards (“IFRS”) accounting principles in lieu of GAAP and, on that election, references to GAAP will then be construed to mean IFRS from time to time; provided that any such election, once made, shall be irrevocable and further provided that any calculation or determination in this Agreement that requires the application of GAAP for periods that include fiscal quarters ended before the Borrowers’ election to apply IFRS will remain as previously calculated or determined in accordance with GAAP. The Borrowers will give notice of an election made in accordance with this definition to the Administrative Agent.

“ Governmental Authority ” means any federal, state, local or foreign court or governmental agency, authority, instrumentality or regulatory or legislative body.

“ Highest Lawful Rate ” means, on any day with respect to a Lender to whom Obligations are owed, the maximum non-usurious rate of interest that the Lender is permitted under applicable law to contract for, take, charge or receive with respect to the Obligations for that day. All determinations of the Highest Lawful Rate, or of any interest rate determined by reference to the Highest Lawful Rate, will be made separately for each Lender as appropriate to assure that the Loan Documents are not construed to obligate any Person to pay interest to any Lender at a rate in excess of the Highest Lawful Rate applicable to that Lender.

“ Hydrocarbon Interests ” means all rights, titles, interests and estates now or later acquired in and to (i) Hydrocarbons and (ii) oil and gas leases, or other liquid or gaseous Hydrocarbon or mineral leases, mineral fee interests, overriding royalty and royalty interests, net profit interests, production payment interests, farm outs and farm ins, including any reserved, back in 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.

“ Indebtedness ” of a Person means, without duplications, that Person’s (i) obligations for borrowed money, (ii) obligations representing the deferred purchase price of Property or services (other than accounts payable arising in the ordinary course of the Person’s business payable on terms customary in the trade), (iii) obligations, whether or not assumed, secured by Liens or payable out of the proceeds or production from Property owned or acquired by that Person (other than Permitted Encumbrances), (iv) obligations which are evidenced by notes, bonds, debentures, acceptances, or other similar instruments, (v) obligations to purchase securities or other Property arising out of or in connection with the sale of the same or substantially similar securities or Property, (vi) Capitalized Lease Obligations, (vii) Contingent Obligations in respect of other Indebtedness, (viii) obligations under Financial Contracts, including Rate Management Obligations, (ix) obligations to reimburse issuers of Letters of Credit, (x) obligations with respect to payments received in consideration of oil, gas, or other minerals yet to be produced at the time

of payment (including obligations under “take-or-pay” contracts to deliver gas in return for payments already received and the undischarged balance of any production payment created by that Person or for the creation of which the Person directly or indirectly received payment), (xi) obligations with respect to other obligations to deliver goods or services in consideration of advance payments therefor; (xii) any other obligation for borrowed money or other financial accommodation which in accordance with GAAP would be shown as a liability on the consolidated balance sheet of that Person, (xiii) all obligations of such Person secured by a Lien on any Property of such Person regardless of whether the Indebtedness secured thereby shall have been assumed by that Person or is non-recourse to the credit of such Person, and (xiv) all liabilities of such Person as a general partner of a partnership for obligations of such partnership of the nature described in clauses (i) through (xiii) above.

“ Indemnified Taxes ” means Taxes, other than Excluded Taxes, imposed on the Administrative Agent, any Lender or any LC Issuer with respect to any payment made by any Credit Party under any Loan Document.

“ Interest Period ” means, with respect to a Eurodollar Advance, a period of one, two, three or six months commencing on a Business Day selected by Unit under this Agreement. The Interest Period will end on the day that corresponds numerically to the date one, two, three, or six months thereafter. If there is no numerically corresponding day in the next, second, third or sixth succeeding month, the Interest Period will end on the last Business Day of the next, second, third or sixth succeeding month. If an Interest Period would otherwise end on a day that is not a Business Day, the Interest Period will end on the next succeeding Business Day. If the next succeeding Business Day falls in a new calendar month, the Interest Period will end on the immediately preceding Business Day.

“ Investment ” of a Person means any loan, advance (other than commission, travel and similar advances to officers and employees made in the ordinary course of business), extension of credit (other than accounts receivable arising in the ordinary course of business on terms customary in the trade) or contribution of capital by that Person to another Person and any stocks, bonds, mutual funds, partnership interests, notes, debentures or other securities owned by that Person.

“ LC Application” has the meaning assigned to it in Section 2.19.3.

“ LC Issuer ” means BOk (or any subsidiary or affiliate of BOk designated by BOk) or any other Lender that agrees to be an LC Issuer in its capacity as issuer of LCs under this Agreement.

“ LC Obligations ” means, at any time, the sum, without duplication, of (i) the total undrawn stated amount under all LCs outstanding at that time plus (ii) the total unpaid amount at that time of all Reimbursement Obligations.

“ LC Sublimit ” means $50,000,000 unless otherwise agreed in writing among the LC Issuer, Unit and the Required Lenders.

“ Lender Counterparty ” means any Person counterparty to a Financial Contract who is (or, at the time such Financial Contract was entered into, was) a Lender or an Affiliate of a Lender.

“ Lenders ” means the lending institutions now or later listed on the signature pages of this Agreement.

“ Lenders’ Schedule ” means Schedule 2.

“ Letter of Credit ” of a Person means a letter of credit or similar instrument that is issued on the application of that Person or on which that Person is an account party or for which that Person is in any way liable.

“ Lien ” means any lien (statutory or other), mortgage, pledge, hypothecation, assignment, deposit arrangement, encumbrance or preference, priority or other security agreement or preferential arrangement of any kind or nature whatsoever (including, without limitation, the interest of a vendor or lessor under any conditional sale, Capitalized Lease or other title retention agreement).

“ Loan ” means, with respect to a Lender, that Lender’s Advances made under Article 2 (or any conversion or continuation of that Advance).

“ Loan Documents ” means this Agreement, the First Amendment, the Second Amendment, the Third Amendment, the Fourth Amendment, the LC Applications, the Notes, the Letters of Credit, each Subsidiary Guaranty, the Security Instruments and each compliance certificate, Borrowing Notice, and Conversion/Continuation Notice executed by Borrowers pursuant to this Agreement; as any of the foregoing may be amended, amended and restated, modified, replaced or otherwise supplemented from time to time; provided, however, that from and after the occurrence of the Superior Release Effective Date, if any, in accordance with the Fourth Amendment, the Superior LLC Pledge Instruments shall no longer thereafter be deemed to constitute either Security Instruments or Loan Documents for all intent and purposes of this Agreement and the other Loan Documents.

“ Material Adverse Effect ” means a material adverse effect on (i) the business, Property, condition (financial or otherwise), or results of operations of the Credit Parties taken as a whole (taking into account the present value of any indemnification in favor of the Borrowers or any applicable insurance coverage), (ii) the ability of any of the Borrowers to perform their obligations under the Loan Documents, or (iii) the validity or enforceability of any of the Loan Documents or the rights or remedies of the Administrative Agent, the LC Issuer or the Lenders under the Loan Documents.

“ Material Domestic Subsidiary ” means any Material Subsidiary that is a Domestic Subsidiary.

“ Material Indebtedness ” means Indebtedness of any Credit Party in an outstanding principal amount of $25,000,000 or more (or its equivalent in any currency other than U.S. dollars).

“ Material Indebtedness Agreement ” means any agreement under which any Material Indebtedness was created, is governed, or which provides for the incurrence of Indebtedness in an amount which would constitute Material Indebtedness (whether or not an amount of Indebtedness constituting Material Indebtedness is outstanding thereunder).

“ Material Subsidiary ” means a Subsidiary of any of the Borrowers having (i) at least ten percent (10%) of the consolidated total assets of the Borrowers and their Subsidiaries (determined as of the last day of the most recent fiscal quarter of the Borrowers) or (ii) at least ten percent (10%) of the consolidated revenues of the Borrowers and their Subsidiaries for the fiscal year of Unit then most recently ended. For purposes of this Agreement, the term “Material Subsidiary” shall not include a Borrower.

“ Materials of Environmental Concern ” means any gasoline or petroleum (including crude oil or any fraction thereof) or petroleum products or any hazardous or toxic substances, materials or wastes, or pollutants, defined or regulated as such in or under any Environmental Law, including asbestos, polychlorinated biphenyls, urea formaldehyde insulation, coal combustion byproducts or waste, boiler slag, scrubber residue, or flue desulphurization residue or comparable or similar products, substances or materials (whether liquid, solid, gaseous or otherwise).

“ Maximum Credit Amount ” means the maximum amount of Credit Extensions available to the Borrowers under Article 2 from Lenders.

“ Moody’s ” means Moody’s Investors Service, Inc.

“ Mortgage ” means each mortgage, deed of trust or any other document creating and evidencing a Lien on real or immovable Property and other Property (including any Oil and Gas Property that constitutes real property) in favor of the Administrative Agent (on behalf of the Lenders), which shall be in a form reasonably satisfactory to the Administrative Agent, as the same may be amended, modified, supplemented or restated from time to time in accordance with the Loan Documents.

“ Multiemployer Plan ” means a Plan under which the Borrowers or any member of the Controlled Group is a party to which more than one employer is obligated to make contributions.

“ Net Cash Proceeds ” means in connection with any issuance or sale of equity interests or indebtedness securities or instruments or the incurrence of loans, the cash proceeds received from such issuance or incurrence, net of attorneys’ fees, investment banking fees, accountants’ fees, underwriting discounts and commissions and other customary fees and expenses actually incurred in connection with such issuances or sales.

“ Note ” means each promissory note made, jointly and severally, by the Borrowers payable to the order of a Lender in substantially the same form as Exhibit A , evidencing indebtedness of the Borrowers to such Lender, as any of the foregoing may be amended, amended and restated, modified, replaced, rearranged, consolidated, renewed, extended or otherwise supplemented from time to time (collectively, the “ Notes ”).

“ Obligations ” means all unpaid principal of and accrued and unpaid interest on the Loans, all Reimbursement Obligations, all Rate Management Obligations under Financial Contracts with any Lender or any Lender Counterparty, all accrued and unpaid fees and all expenses, reimbursements, indemnities and other obligations of the Borrowers to the Lenders or to any Lender, the Administrative Agent, the LC Issuer, or any indemnified party arising under

the Loan Documents, including all treasury and treasury related services; provided that the "Obligations" shall exclude any Excluded Swap Obligations.

“ OFAC ” means the U.S. Department of the Treasury’s Office of Foreign Assets Control.

“ Oil and Gas Properties ” means all Hydrocarbon Interests from time to time owned by any Credit Party or in which one of the Credit Parties has an interest, including without limitation, (i) Property now or hereafter pooled or unitized with the Hydrocarbon Interests, (ii) all presently existing or future unitization, pooling agreements and declarations of pooled units and the units created in connection therewith (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, (iii) all operating agreements, contracts and other agreements which relate to any Hydrocarbon Interests or the production, sale, purchase, exchange or processing of Hydrocarbons from or attributable to that Hydrocarbon Interests, (iv) all Hydrocarbons in and under and which may be produced and saved or attributable to the Hydrocarbon Interests, including as-extracted collateral and all oil in tanks and all rents, issues, profits, proceeds, products, revenues and other incomes from or attributable to the Hydrocarbon Interests, (v) all tenements, hereditaments, appurtenances and Property in any manner appertaining, belonging, affixed or incidental to the Hydrocarbon Interests, (vi) and all Property, rights, titles, interests and estates described or referred to above, including any and all Property (real or personal) now owned or hereafter acquired and situated on, used, held for use or useful in connection with the operating, working or development of any of the Hydrocarbon Interests or Property (excluding drilling rigs, automotive equipment or other personal property which may be on the premises for the purpose of drilling a well or for other similar temporary uses), and (vii) any and all oil wells, gas wells, injection wells or other wells, buildings, structures, 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, in each case limited to the interest of the applicable Credit Party in those assets.

“ Other Taxes ” means any present or future stamp or documentary Taxes, and any other excise or property Taxes which arise because of any payment made under this Agreement, any Note, LC Application or from the signing or delivery of or otherwise with this Agreement, any Note, or LC Application.

“ Outstanding Credit Exposure ” means, as to any Lender at any time, the sum of (i) the total principal amount of its then outstanding Loans, plus (ii) an amount equal to its Pro Rata Share of the LC Obligations at that time.

“ Payment Date ” means the day prescribed in Section 2.16 for payment of Eurodollar Loans and Floating Rate Loans, respectively.

“ PBGC ” means the Pension Benefit Guaranty Corporation.

“ Permitted Encumbrances ” means any Lien permitted by Section 7.6.

“ Person ” means any natural person, corporation, firm, joint venture, partnership, limited liability company, association, enterprise, trust or other entity or organization, or any government or political subdivision or any of their agencies, departments, or instrumentalities.

“ Plan ” means an employee pension benefit plan which is covered by Title IV of ERISA or subject to the minimum funding standards under Section 412 of the Code as to which the Borrowers or any member of the Controlled Group may have any liability.

“Pledge Agreement” means that certain Pledge Agreement executed and delivered by Unit effective as of the date of the Third Amendment, as the same shall be deemed to have been terminated and released in accordance with the Fourth Amendment, effective as of the occurrence of the Superior Release Effective Date (if any) in accordance with the Fourth Amendment.

“ Pricing Schedule ” means Schedule 1.

“ Prime Rate ” means, as of any date, the annual rate published in the “Bonds, Rates and Yields” column of The Wall Street Journal (Southwest Edition) as the prime rate, which rate will not necessarily be the “best” or lowest rate quoted or used from time to time by a Lender or the Lenders. Borrowers acknowledge and agree that the Lenders may make loans based on other rates or indices as well. Should that reference to such prime rate become unavailable during the term of the Loans or by Financial Contracts or should The Wall Street Journal otherwise cease to publish or quote a prime or base rate, or should The Wall Street Journal be merged, consolidated, liquidated or dissolved in a manner that it loses its separate identity, then the Prime Rate will be a substitute index selected and designated by the Administrative Agent following notice to Unit. Any change in the Prime Rate shall be effective as of the date of the change but the Prime Rate will not change more often than once each day. Under no circumstances will the interest rate on the Notes be more than the Highest Lawful Rate.

“ Pro Rata Share ” means, with respect to a Lender, a portion equal to a fraction the numerator of which is that Lender’s Commitment and the denominator of which is the Total Commitment; provided, in the case of Section 2.20 when a Defaulting Lender shall exist, “Pro Rata Share” means, (a) for any Defaulting Lender, zero percent (0%), and (b) for any Lender other than a Defaulting Lender, the percentage of the Total Commitments (disregarding any Defaulting Lender’s Commitment) represented by that Lender’s Commitment. If the Commitments have terminated or expired, the Pro Rata Share will be determined upon the Commitments most recently in effect, giving effect to any assignments and to any Lender’s status as a Defaulting Lender.

“ Property ” of a Person means any interest of that Person in any kind of property, whether real, personal, tangible, intangible, or mixed, of that Person, or other assets owned, leased or operated by that Person.

“ Qualified ECP Guarantor ” means, in respect of any Rate Management Obligations, at any time, each Credit Party, with total assets exceeding $10,000,000 or that qualifies at such time as an “eligible contract participant” under the Commodity Exchange Act and can cause another

person to qualify as an “eligible contract participant” at such time under §1a(18)(A)(v)(II) of the Commodity Exchange Act.

“ Rate Management Obligations ” of a Person means all obligations of that Person, whether absolute or contingent and regardless of how or when created, arising, evidenced or acquired (including all renewals, extensions, supplements, replacements, modifications, and substitutions of those obligations) under (i) all Financial Contracts, including Rate Management Transactions, and (ii) all cancellations, buy backs, reversals, terminations or assignments of any Financial Contracts, including Rate Management Transactions.

“ Rate Management Transaction ” means any transaction (including an agreement pertaining to that transaction) now existing or hereafter entered by one or more Borrowers which is a rate swap, basis swap, hedge, forward rate transaction, commodity swap, commodity option, equity or equity index swap, equity or equity index option, bond option, interest rate option, foreign exchange transaction, cap transaction, floor transaction, collar transaction, forward transaction, currency swap transaction, cross-currency rate swap transaction, currency option or any other similar transaction or price/commodity protection device (including any option with respect to any of these transactions) or any combination thereof, whether linked to one or more interest rates, foreign currencies, commodity prices, equity prices, or other financial measures. However, a “Rate Management Transaction” will not include any contract for the purchase and sale of natural gas, oil or natural gas liquids entered into in the ordinary course of business and on customary trade terms.

“ Ratings Requirement ” means Unit’s unsecured corporate rating is (i) BBB- or better with respect to any rating issued by S&P (without negative outlook or negative watch), or (ii) Baa3 or better with respect to any rating issued by Moody’s (without negative outlook or negative watch), provided, if Unit only satisfies one of the ratings set forth above, Unit shall still be deemed to have satisfied the Ratings Requirement so long as Unit satisfies one of the two ratings above and has an unsecured corporate rating of at least (x) BB+ with respect to S&P (without negative outlook or negative watch), if Unit otherwise satisfies the rating set forth in clause (ii) above and (y) Ba1with respect to Moody’s (without negative outlook or negative watch), if Unit otherwise satisfies the rating set forth in clause (i) above.

“ Regulation D ” means Regulation D of the Board of Governors of the Federal Reserve System and any successor or other regulation or official interpretation of the Board of Governors relating to reserve requirements applicable to member banks of the Federal Reserve System.

“ Regulation U ” means Regulation U of the Board of Governors of the Federal Reserve System and any successor or other regulation or official interpretation of the Board of Governors relating to the extension of credit by banks for the purpose of purchasing or carrying margin stocks applicable to member banks of the Federal Reserve System.

“ Reimbursement Obligations ” means the total of all obligations of the Borrowers under Section 2.19 to reimburse the LC Issuer for amounts paid by the LC Issuer for any one or more drawings under LCs.

“ Reportable Event ” means a reportable event as defined in Section 4043 of ERISA, for which the notice requirements to the PBGC have not been waived. A failure to meet the minimum funding standard of Section 412 of the Code and of Section 302 of ERISA will be a Reportable Event.

“ Required Lenders ” means those Lenders having in total at least 66.67% of the Total Commitment or, if the Total Commitment has been terminated, those Lenders having in total at least two-thirds (66.67%) of the Total Outstanding Credit Exposure.

“ Reserve Requirement ” means, with respect to an Interest Period, the maximum total reserve requirement (including all basic, supplemental, marginal and other reserves) which is imposed under Regulation D on Eurocurrency liabilities.

“ S&P ” means Standard and Poor’s Ratings Services, a division of The McGraw Hill Companies, Inc.

“ Sanctioned Country ” means a country subject to a comprehensive country-wide sanctions program administered and enforced by OFAC, which countries are, as of the effectiveness of the Second Amendment, limited to Cuba, Iran, North Korea, Sudan and Syria.

“ Sanctioned Person ” means (a) a Person named on the list of “Specially Designated Nationals and Blocked Persons” maintained by OFAC available at http://www.treasury.gov/resource-center/sanctions/SDN-List/Pages/default.aspx , or as otherwise published from time to time, (b) a Person named on the lists maintained by the United Nations Security Council available at http://www.un.org/sc/committees/list_compend.shtml , or as otherwise published from time to time, (c) a Person named on the lists maintained by the European Union available at http://eeas.europa.eu/cfsp/sanctions/consol-list_en.htm , or as otherwise published from time to time, (d) a Person named on the lists maintained by Her Majesty’s Treasury available at http://www.hm-treasury.gov.uk/fin_sanctions_index.htm , or as otherwise published from time to time, or (e) (i) an agency of the government of a Sanctioned Country, (ii) an organization controlled by a Sanctioned Country, or (iii) a Person resident in a Sanctioned Country, to the extent any Person described in clauses (i), (ii) or (iii) is the subject of a sanctions program administered by OFAC.

“ Sanctions ” means, collectively, economic or financial sanctions or trade embargoes imposed, administered or enforced from time to time by (a) any U.S. Governmental Authority, including, without limitation, those administered by the OFAC or the U.S. Department of State, or (b) the United Nations Security Council, the European Union, any European Union member state or Her Majesty’s Treasury of the United Kingdom; in each such case, as amended, supplemented or substituted from time to time.

“ Scheduled Redetermination ” means any redetermination of the Borrowing Base under Section 2.6.3.

“ SEC ” means the Securities and Exchange Commission.

“ Second Amendment ” means the Second Amendment and Consent to Senior Credit Agreement dated as of April 10, 2015, among the Borrowers, the Administrative Agent and the Lenders party thereto.

“ Security Instruments ” mean each Mortgage and all other agreements, instruments, consents and certificates now or hereafter executed and delivered by any Credit Party or other Person as security for the payment or performance of the Obligations, as the same may be amended, modified, restated or replaced from time to time (including, prior to the occurrence of the Superior Release Effective Date, if any, in accordance with the Fourth Amendment, the Superior LLC Pledge Instruments).

“ Senior Indebtedness ” means, with respect to the Borrowers and their Subsidiaries (other than, and excluding all, Unrestricted Subsidiaries), on a consolidated basis, the sum equal to (a) the principal amount of all outstanding Loans of such Persons and (b) all Material Indebtedness of such Persons that is secured by a Lien, excluding any Subordinated Debt or Indebtedness of such Persons permitted under Section 7.2(v).

“ Single Employer Plan ” means a Plan maintained by the Borrowers or any member of the Controlled Group for employees of the Borrowers or any member of the Controlled Group.

“ SPC Midstream Operating ” means SPC Midstream Operating, L.L.C., an Oklahoma limited liability company, a Wholly-Owned Subsidiary of Unit and an Unrestricted Subsidiary hereunder, whose sole asset is, and even after the Superior Release Effective Date shall remain, a management contract with Superior pursuant to which Superior shall be operated after the Superior Release Effective Date.

“ Special Redetermination ” means any redetermination of the Borrowing Base under Section 2.6.5 or 2.6.6.

“ Specified Loan Party ” means any Credit Party that is not an “eligible contract participant” under the Commodity Exchange Act (determined prior to giving effect to Section 12.20).

“ Subordinated Debt ” means (i) the Existing Subordinated Notes and (ii) all other Indebtedness which is contractually subordinated in right of payment, collection, enforcement and lien rights to the prior payment in full of the Obligations on terms satisfactory to Administrative Agent, and includes Indebtedness in the form of subordinated convertible debentures or subordinated promissory notes.

“ Subsidiary ” of a Person means (i) any corporation more than 50% of the outstanding securities having ordinary voting power of which will at the time be owned or controlled, directly or indirectly, by that Person or by one or more of their Subsidiaries or by that Person and one or more of its Subsidiaries, or (ii) any partnership, limited liability company, association, joint venture or similar business organization more than 50% of the ownership interests having ordinary voting power of which will at the time be so owned or controlled, provided that any associations, joint ventures or other relationships (a) which are established under a standard form operating agreement or similar agreement or which are partnerships for purposes of federal income taxation only, (b) which are not corporations or partnerships (or subject to the Uniform

Partnership Act) under applicable state law, and (c) whose businesses are limited to the exploration, development and operation of oil, gas or mineral properties and interests owned directly by the parties in those associations, joint ventures or relationships, will not be deemed to be “Subsidiaries” of that Person. Unless otherwise expressly provided, all references in this Agreement to a “Subsidiary” will mean a Subsidiary of any of the Credit Parties. From and after the Superior Release Effective Date, the Unrestricted Subsidiaries shall not be deemed to constitute Subsidiaries for any purposes of this Agreement and the other Loan Documents, other than for the limited purposes of Section 6.10 and Section 7.14, respectively, hereof.

“ Subsidiary Guarantor ” means each present or future Material Domestic Subsidiary and each other Subsidiary that becomes a party to the Subsidiary Guaranty.

“ Subsidiary Guaranty ” means the Guaranty Agreement, substantially in the form of Exhibit E to be executed on behalf of each Subsidiary Guarantor in favor of the Administrative Agent for the ratable benefit of the Lenders, for the Obligations of the Borrowers under this Agreement.

“ Subsidiary Guaranty Joinder Agreement ” means the Joinder Agreement, substantially in the form of Schedule 1 to the Subsidiary Guaranty, to be executed and delivered by each new Subsidiary Guarantor in accordance with the provisions of Section 9.1.

“ Superior ” has the meaning ascribed thereto in the introductory paragraph of this Agreement.

“ Superior App ” has the meaning ascribed thereto in the introductory paragraph of this Agreement.

“ Superior Cash Flow ” means the loan value attributed by the Lenders or Required Lenders, as applicable, to the operations (including throughput volume in the pipeline systems) of Superior Pipeline Company, L.L.C. and its Wholly-Owned Subsidiaries in accordance with Section 2.6 which determination shall be conclusive absent manifest error.

“ Superior LLC ” has the meaning ascribed thereto in the introductory paragraph of this Agreement.

“ Superior LLC Pledge Instruments ” has the meaning ascribed thereto in the Fourth Amendment.

“ Superior Release ” has the meaning ascribed thereto in Recital E of this Agreement.

“ Superior Release Effective Date ” has the meaning ascribed thereto in the Fourth Amendment.

“ Superior Sale ” has the meaning ascribed thereto in Recital E of this Agreement.

“ Superior Sale Effective Date ” has the meaning ascribed thereto in the Fourth Amendment.

“ Superior Sale Net Proceeds ” has the meaning ascribed thereto in Recital E of this Agreement.

“ Superior Sale Paydown Conditions ” has the meaning ascribed thereto in Recital E of this Agreement.

“ Superior TX ” has the meaning ascribed thereto in the introductory paragraph of this Agreement.

“ Superior UCCs ” has the meaning ascribed thereto in the Fourth Amendment.

“ Taxes ” means all present or future taxes, duties, levies, imposts, deductions, charges or withholdings, and any and all liabilities with respect to the foregoing.

“ Third Amendment ” means the Third Amendment to Senior Credit Agreement dated as of April 8, 2016, among the Borrowers, the Administrative Agent and the Lenders party thereto.

“ Total Commitment ” means the total of the Commitments of all Lenders, as adjusted from time to time under this Agreement. In no event will the Total Commitment exceed the lesser of (i) the Borrowing Base or (ii) the Maximum Credit Amount.

“ Total Outstanding Credit Exposure ” means the total of the Outstanding Credit Exposure of all the Lenders.

“ Unfunded Liabilities ” means that amount by which the present value of all vested and unvested accrued benefits under all Single Employer Plans exceeds the fair market value of those Plans’ assets allocable to those benefits, all determined as of the most recent valuation date for those Plans using PBGC actuarial assumptions for single employer plan terminations.

“ Unit ” has the meaning ascribed thereto in the introductory paragraph of this Agreement.

“ Unit Drilling ” has the meaning ascribed thereto in the introductory paragraph of this Agreement.

“ Unit Petroleum ” has the meaning ascribed thereto in the introductory paragraph of this Agreement.

“ Unit TX ” has the meaning ascribed thereto in the introductory paragraph of this Agreement

“ Unrestricted Subsidiaries ” means, collectively, from and after the Superior Release Effective Date, the following Persons (each, an “ Unrestricted Subsidiary ”): (i) Superior App; (ii) Superior LLC; (iii) Superior TX; (iv) SPC Midstream Operating; and (v) their respective subsidiaries.

“ Wholly-Owned Subsidiary ” of a Person means (i) any Subsidiary all of the outstanding voting securities of which are owned or controlled, directly or indirectly, by that Person or one or more Wholly-Owned Subsidiaries of that Person, or by that Person and one or more Wholly-

Owned Subsidiaries of that Person, or (ii) any partnership, limited liability company, association, joint venture or similar business organization 100% of the ownership interests having ordinary voting power of which will at the time be so owned or controlled.

“ 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.

The above definitions will be equally applicable to both the singular and plural forms of the defined terms.

1.2     Exhibits and Schedules; Additional Definitions . All Exhibits and Schedules attached to this Agreement are a part of this Agreement for all purposes. Unless the context otherwise requires or unless otherwise provided in this Agreement the terms defined in this Agreement which refer to a particular agreement, instrument or document also refer to and include all renewals, extensions, modifications, amendments and restatements of that agreement, instrument or document, provided that nothing in this section will be construed to authorize any such renewal, extension, modification, amendment or restatement.

1.3     Reference and Titles . All references in this Agreement to Exhibits, Schedules, articles, sections, subsections and other subdivisions refer to the Exhibits, Schedules, articles, sections, subsections and other subdivisions of this Agreement unless expressly provided otherwise. Exhibits and Schedules to any Loan Document are incorporated by reference into the Loan Document. References to any document, instrument, or agreement (a) will include all exhibits, schedules, and other attachments thereto, and (b) will include all documents, instruments, or agreements issued or executed in replacement or restatement thereof. Titles appearing at the beginning of any subdivisions are for convenience only and do not constitute any part of the subdivisions and will be disregarded in construing the language contained in the subdivisions. The words “this Agreement,” “this instrument,” “herein,” “hereof,” “hereby,” “hereunder” and words of similar import refer to this Agreement as a whole and not to any particular subdivision unless expressly so limited. The words “include”, “includes” and “including” will be deemed to be followed by the phrase “without limitation”. The phrases “this section” and “this subsection” and similar phrases refer only to the sections or subsections in which these phrases occur. Pronouns in masculine, feminine and neuter genders will be construed to include any other gender, and words in singular form will be construed to include the plural and vice versa, unless the context otherwise requires.

1.4     Accounting Terms and Determinations . Except only as otherwise expressly provided in this Agreement (including in the definition of GAAP), all accounting terms will be interpreted, and all financial statements and certificates and reports as to financial matters required to be delivered to the Administrative Agent or the Lenders under this Agreement shall be prepared in accordance with GAAP, as applied on a consistent basis. References to “days”

will mean calendar days, unless the term “Business Day” is used. Unless otherwise specified, references to any particular Person also refer to its successors and permitted assigns. If the Borrowers notify the Administrative Agent that the Borrowers request an amendment to any provision hereof to eliminate the effect of any change occurring after the date hereof in GAAP or in the application thereof on the operation of such provision regardless of whether any such notice is given before or after such change in GAAP or in the application thereof, then such provision shall be interpreted on the basis of GAAP as in effect and applied immediately before such change shall have become effective until such notice shall have been withdrawn or such provision amended in accordance herewith. To avoid any confusion, if a change in GAAP, such as changes to lease accounting rules, occurring after the Effective Date hereof, affects in any way the calculation of any material terms or covenants hereunder, such terms or covenants will continue to be governed on the basis of GAAP as in effect and applied immediately before such change upon and following such notification contemplated above from the Borrower.

1.5     Calculations and Determinations . All calculations under the Loan Documents of interest and fees will be made on the basis of actual days elapsed (including the first day but excluding the last) and a year of 360 days except only for interest accruals on Floating Rate Loans which will be based on the number of days lapsed in a 365-366 day year.

1.6     Joint Preparation; Construction of Indemnities and Releases . The Loan Documents have been reviewed and negotiated by sophisticated parties with access to legal counsel and no rule of construction will apply which would require or allow any Loan Document to be construed against any party because of its role in drafting that Loan Document. All indemnification and release provisions of this Agreement will be construed broadly (and not narrowly) in favor of the Persons receiving indemnification or being released.

ARTICLE 2

THE CREDITS

2.1     Commitments; Initial Total Commitment; Maximum Credit Amount . From and including the Fourth Amendment Effective Date and up to the Facility Termination Date, each Lender severally agrees, on the terms and conditions of this Agreement, to (i) make Loans to the Borrowers and (ii) participate in LCs issued on the request of the Borrowers, provided that, after giving effect to the making of each such Loan and the issuance of each such LC, the Lender’s Outstanding Credit Exposure does not exceed its Commitment and the Total Outstanding Credit Exposure does not exceed the Total Commitment. Subject to the terms of this Agreement, Unit, as the designated borrowing agent on behalf of all of the Borrowers, may borrow, repay and re-borrow at any time before the Facility Termination Date. Each Lender’s Commitment will expire on the Facility Termination Date. The LC Issuer will issue LCs on the terms and conditions set forth in Section 2.19. As of the Fourth Amendment Effective Date, and until the earlier to occur of either the next Determination Date or the occurrence of the Superior Release Effective Date (if any) in accordance with the Fourth Amendment: (a) the Total Commitment is $475,000,000; and (b) the Maximum Credit Amount is also $475,000,000. Without limitation of any of the foregoing, from and after the occurrence of the Superior Release Effective Date, if any, in accordance with the Fourth Amendment, and until the next Determination Date to occur thereafter: (x) the Total Commitment shall automatically, and without any further action or documentation being required from or by any Person, be hereby reduced to $425,000,000; and

(y) the Maximum Credit Amount shall automatically, and without any further action or documentation being required from or by any Person, be hereby reduced to $425,000,000. Any increases in the Total Commitment will be subject to and in accordance with Section 14.6 and any increase in the Maximum Credit Amount requires the written consent of all Lenders.

2.2     Minimum Amount of Each Advance . Each Eurodollar Advance will be in the minimum amount of $2,000,000 (and in additional multiples of $1,000,000), and each Floating Rate Advance will be in the minimum amount of $200,000 (and in additional multiples of $100,000), provided, that any Floating Rate Advance may be in the amount of the Available Total Commitment.

2.3     Ratable Loan . The Lenders will make each Advance according to their Pro Rata Shares.

2.4     Types of Advances . The Advances may be Floating Rate Advances or Eurodollar Advances, or a combination thereof. Unit will select advances on behalf of the Borrowers in accordance with Sections 2.9 and 2.10.

2.5     Facility Fee; Commitment Fee; Late Fees; Agency and Other Fees .

2.5.1.     Facility Fee . Borrowers will pay to the Administrative Agent for the benefit of the Lenders a fully earned and non-refundable upfront facility fee calculated by the respective invited/solicited commitment levels tendered to each Lender, as provided in Addendum I to the separate Summary of Terms and Conditions dated as of July 7, 2011 agreed to by the Administrative Agent. Any increases in the Total Commitment above the amounts designated in Section 2.1 will be contingent on the Borrowers’ payment of an applicable market rate facility fee on the amount of the increase(s) to Administrative Agent for the benefit of the Lenders increasing its or their Commitments or on the Commitment of any Additional Lender(s) under Section 14.6.

2.5.2.     Commitment Fee . The Borrowers shall pay the Administrative Agent for the Pro Rata Share of each Lender a commitment fee equal to the per annum Commitment Fee Rate (as set forth on the Pricing Schedule) times the average daily amount of the Available Total Commitment from the date of this Agreement through the Facility Termination Date. Accrued commitment fees are payable in arrears within 10 days of Unit’s receipt of the quarterly invoice from the Administrative Agent following the close of each calendar quarter and on the Facility Termination Date. All accrued commitment fees are payable on the effective date of any termination of the Commitments of the Lenders to make Credit Extensions.

2.5.3.     Late Fees . To the extent any payment due under a Loan Document is not paid within ten (10) calendar days of its scheduled due date, then, in addition to any interest (accrued at the contract rate of the Notes and prior to imposition of the default rate pursuant to Section 2.12) or other fees and charges due, Borrowers will pay to the Administrative Agent for the allocable benefit of the Lenders a late fee equal to five percent (5.0%) of the amount of the payment that was required to have been made.

2.5.4.     Agency and Other Fees . Borrowers will pay agency and other fees to the Administrative Agent in the amounts and on the terms agreed to in writing between the Administrative Agent and the Borrowers.     

2.6     Borrowing Base .

2.6.1. Subject to the terms, provisions, and limitations of this Agreement, as of the Fourth Amendment Effective Date, and until the earlier to occur of either the next Determination Date or the occurrence of the Superior Release Effective Date (if any) in accordance with the Fourth Amendment, the Borrowing Base is $525,000,000.00, subject, however, to all applicable terms, conditions and limitations as set forth in this Agreement. Without limitation of any of the foregoing, from and after the occurrence of the Superior Release Effective Date, if any, in accordance with the Fourth Amendment, and until the next Determination Date to occur thereafter, the Borrowing Base shall automatically, and without any further action or documentation being required from or by any Person, be hereby reduced to $425,000,000. The Borrowing Base is based on (i) the loan value which the Lenders assign to the various Credit Parties’ Oil and Gas Properties being evaluated, (ii) until such time as the Superior Release Effective Date (if any) shall have occurred in accordance with the Fourth Amendment, the loan value which the Lenders assign to Superior Cash Flow, and (iii) any other credit factors (including without limitation the assets, liabilities, cash flow, hedged and unhedged exposure to price, foreign exchange rate, and interest rate changes, business, properties, prospects, management and ownership of Credit Parties) as the Lenders deem significant. The Lenders and the Administrative Agent have no obligation to agree on or designate the Borrowing Base at any particular amount, whether in relation to the Total Commitment or otherwise.

2.6.2. On March 1 and September 1 of each year, beginning September 1, 2018 (it being stipulated Unit has timely furnished such information for March 1, 2018), Unit will furnish to each Lender the information Administrative Agent has then requested concerning the Credit Parties’ businesses and properties (including the information specified in Sections 6.1(vii), (viii) and (ix)).

2.6.3. Starting no later than October 1, 2018 and no later than each following April 1 ^st and October 1 ^st , the Borrowing Base will be determined in accordance with the following procedure:

(a) The Administrative Agent will submit in writing to the Lenders its proposed Borrowing Base amount;

(b) Each Lender will have ten (10) Business Days to notify the Administrative Agent in writing if it agrees or disagrees with the proposed amount; provided, however, no increase in the Borrowing Base will become effective unless approved in writing by all Lenders. If, within the time set out in the preceding sentence,

(1) All Lenders agree, then the new Borrowing Base will be the amount proposed by the Administrative Agent (which shall be deemed to include any Lender that has not timely notified Administrative Agent in writing of its approval or disapproval, such silence being deemed to be an approval of the proposed Borrowing Base amount by the silent (non responding) Lender); or

(2) (i) Not all Lenders agree with the proposal of the Administrative Agent, or (ii) if the Total Commitment has been terminated or has expired and the Required Lenders have not affirmatively approved the Administrative Agent’s proposal with respect to a decrease in, or maintenance of, the Borrowing Base, then the Administrative Agent and the Required Lenders will, within five (5) Business Days, diligently attempt in good faith to agree on a Borrowing Base amount. If agreement is reached then the amount determined by the Administrative Agent and the Required Lenders will be the Borrowing Base amount; or

(3) The Administrative Agent and the Required Lenders cannot agree on the amount of the Borrowing Base within the five (5) Business Day period, then the proposed Borrowing Base will be the amount calculated by the Administrative Agent as the “weighted arithmetic average” of the Borrowing Base as determined by each individual Lender and communicated to the Administrative Agent in writing. For purposes of this paragraph, the “weighted arithmetic average” of the Borrowing Base will be determined by first multiplying the Borrowing Base proposed in writing to the Administrative Agent by each Lender’s Pro Rata Share, and then adding the results of each calculation, with the Borrowing Base then being the lesser of (i) the resulting weighted arithmetic average amount, or (ii) the amount of the Borrowing Base as last determined under this Agreement.

(c) The Administrative Agent will then promptly notify Unit in writing of the new Borrowing Base amount. The amount of the Borrowing Base subject to the Administrative Agent’s notice will be effective as of the date the notice is sent to Unit (a “ Determination Date “) unless, within five (5) Business Days following receipt of the Administrative Agent’s notice, Unit designates in writing a lesser amount in which case the lesser amount designated by Unit will be the Borrowing Base amount effective when the Administrative Agent receives Unit’s written designation.

2.6.4. If Unit does not timely furnish all the information requested by the Administrative Agent in subsection 2.6.2, Administrative Agent may designate the Borrowing Base at any amount the Lenders or the Required Lenders, as applicable, reasonably determine (and may redetermine the Borrowing Base from time to time) until each Lender receives all the requested information. Once the Lenders have received all the requested information, Lenders or the Required Lenders, as applicable, in their

discretion, will designate a new Borrowing Base under the procedures in subsection 2.6.3.

2.6.5. In addition to Scheduled Redeterminations, the Required Lenders are permitted to make a Special Redetermination of the Borrowing Base once between each Determination Date by notifying the Administrative Agent and Borrowers. Any Special Redetermination by the Required Lenders shall be in addition to any reduction of the Borrowing Base by the Required Lenders under Section 7.4(iv).

2.6.6. In addition to Scheduled Redeterminations, any other Special Redeterminations pursuant to Section 2.6 and the voluntary Commitment reduction pursuant to Section 2.8.3, Unit may request a Special Redetermination of the Borrowing Base once between each Scheduled Redetermination. In addition, Unit may request Special Determinations from time to time as significant developments, exploration or Acquisition opportunities are presented to Borrowers. Borrower shall deliver written notice of such Special Redetermination request to the Administrative Agent which shall include (i) a reserve report or engineering report prepared as of a date not more than 30 days prior to such request, and (ii) the amount of the Borrowing Base requested by Unit and the date on which Unit requests such redetermined Borrowing Base to be effective. Upon receipt of the reserve report or engineering report, the Administrative Agent shall, subject to approval of the Required Lenders, or all Lenders in the event of a proposed increase in the Borrowing Base, redetermine the Borrowing Base in accordance with the calculation procedures of Section 2.6.3(a), (b) and (c), provided that the Administrative Agent and the Lenders shall have thirty (30) days from Administrative Agent's receipt of the information requested of Unit under clauses (i) and (ii) above to agree with the Lenders on the redetermined amount of the Borrowing Base and so notify Unit in writing.

2.6.7. If at any time, the Total Outstanding Credit Exposure exceeds the lesser of (i) the Borrowing Base, or (ii) the Total Commitment (a “ Deficiency ” ) because of a reduction in the Borrowing Base resulting from a redetermination in accordance with this Section 2.6 (excluding Section 2.6.8), Administrative Agent will notify Unit in writing of the Deficiency and within ten (10) days from the date of that deficiency notice, Unit will elect one of the following options:

(a) To prepay the Loans in an amount equal to or more than the Deficiency;

(b) Dedicate to this Agreement (including the negative pledge provision of Section 7.12) other Oil and Gas Properties or assets acceptable to the Administrative Agent and the Required Lenders that are not then included in the Borrowing Base that are of a value, as determined by the Administrative Agent and the Required Lenders, such that the Outstanding Credit Exposure does not exceed the Borrowing Base (as adjusted to include the values of the additional Oil and Gas Properties and/or midstream assets); or

(c) Start monthly principal payments each equal to the amount of the Deficiency divided by the number of whole calendar months between the date of the Deficiency notice and the next Scheduled Redetermination.

If Unit elects to (i) prepay the Loans under clause (a) or (ii) commence monthly principal payments under clause (c), the prepayment or first monthly payment, as applicable, will be due within twenty (20) days after the date of Unit’s timely election. The prepayment or monthly principal payments will be applied in reduction of the principal balance of the Loans. If Unit elects to commit Oil and Gas Properties under clause (b) above, the Borrowers will provide the Administrative Agent with descriptions of the Oil and Gas Properties or other approved assets (together with any applicable current valuations and engineering reports which may be requested by the Administrative Agent).

2.6.8. The Borrowing Base will be automatically reduced if and to the extent a Borrower issues or incurs Indebtedness (other than any Obligations) as follows: (i) a dollar ($1.00) for dollar ($1.00) reduction if the Indebtedness is on a pari passu basis in right of payment with the Obligations or (ii) an amount equal to a twenty five cents ($0.25) reduction for each one dollar ($1.00) amount of Indebtedness incurred after the effective date of this Agreement that is expressly subordinated in right of payment to the Obligations (including subordinated Indebtedness convertible to equity in Unit) so long as such Indebtedness is in compliance with the limitations of Section 7.2(ix).

2.6.9. Unit may, from time to time upon ten (10) days prior written notice to the Administrative Agent, reduce the Borrowing Base by designating a Borrowing Base which is lower than the Borrowing Base then in effect. Any such designation by Unit shall be effective on the tenth (10 ^th ) day following the date of the Administrative Agent's receipt of such written notice.

2.7     Repayment of Loans; Evidence of Loans .

2.7.1. Borrowers hereby unconditionally and jointly and severally promise to pay to the Administrative Agent, for the account of each Lender, on the Facility Termination Date, the then unpaid principal amount of all Loans made to them. Borrowers agree to repay the principal amount of each Loan made to them and the interest accrued thereon in U.S. dollars.

2.7.2. Each Lender shall maintain in accordance with its usual practice an account or accounts evidencing the indebtedness of Borrowers to such Lender resulting from each Loan made by such Lender, including the amounts of principal and interest payable and paid to such Lender from time to time hereunder.

2.7.3. The Administrative Agent shall maintain accounts in which it shall record (i) the amount of each Loan made hereunder, the type and the Interest Period applicable thereto, (ii) the amount of any principal or interest due and payable or to become due and payable from Borrowers to each Lender hereunder and (iii) the amount of any sum

received by the Administrative Agent hereunder for the account of the Lenders and each Lender's Pro-Rata Share thereof.

2.7.4. The entries made in the accounts maintained pursuant to paragraph (b) or (c) of this Section shall be prima facie evidence of the existence and amounts of the obligations recorded therein; provided that the failure of any Lender or the Administrative Agent to maintain such accounts or any error therein shall not in any manner affect the obligation of the Credit Parties to repay the Loans in accordance with the terms of this Agreement.

2.7.5. Any Lender may request that Loans made by it be evidenced by a promissory note. In such event, the Borrowers shall prepare, jointly execute and deliver to the order of such Lender one or more promissory notes payable to the order of such Lender (or, if requested by such Lender, to such Lender and its registered assigns) and in a form approved by the Administrative Agent. Thereafter, the Loans evidenced by such promissory note(s) and interest thereon shall at all times (including after assignment pursuant to Section 14.3) be represented by one or more promissory notes in such form payable to the order of the payee named therein (or, if a promissory note is a registered note, to such payee and its registered assigns).

2.8     Principal Payments; Termination and Reduction of Commitment .

2.8.1. Optional Principal Payments . The Borrowers may at any time and from time to time, without penalty or premium, on prior notice to the Administrative Agent pay (i) all outstanding Floating Rate Advances, or (ii) a part of the outstanding Floating Rate Advance in a minimum amount of $200,000 (and any additional multiples of $100,000). The Borrowers may from time to time, without premium or penalty (but subject to the payment of any funding indemnification amounts required by Section 3.5 including applicable breakage fees due hereunder), on three (3) Business Days’ prior written notice to the Administrative Agent, pay all (i) outstanding Eurodollar Advances, or, (ii) a part of the outstanding Eurodollar Advances in a minimum total amount of $2,000,000 (and any additional integral multiples of $1,000,000).

2.8.2. Mandatory Principal Payments . In addition to the mandatory principal payments required due to a Deficiency in accordance with Section 2.6.7, if at any time a Deficiency occurs as a result of the a reduction of the Borrowing Base under Section 2.6.8 or 7.4, Borrowers will, within three (3) Business Days following written notice from Administrative Agent promptly prepay the principal of the Loans with proceeds of such Indebtedness issuance or asset sale in an amount at least equal to the Deficiency (or, if the Loans have been paid in full, deposit with the Administrative Agent the amount required to eliminate the Deficiency, which amount shall be applied by the Administrative Agent to the payment of Reimbursement Obligations with respect to any LCs as they become due and payable; any balance remaining after (i) all LCs have expired or been fully drawn on or (ii) after the Deficiency no longer exists will be returned to Unit) together with interest during the period of the Deficiency. Any principal or interest prepaid under this subsection will be in addition to, and not in lieu of, all payments otherwise then required under the Loan Documents.

2.8.3. Termination and Reduction of Commitments .

(a)    Unless previously terminated, the Commitments shall terminate on the Facility Termination Date.

(b)    The Borrowers may once between each Scheduled Redetermination reduce the Commitments; provided that (i) each reduction of the Commitments shall be in an amount that is an integral multiple of $5,000,000 and not less than $25,000,000 (or, if less, the remaining amount of the Commitments), and (ii) the Borrowers shall not terminate or reduce the Commitments if, after giving effect to any concurrent prepayment of the Loans in accordance with Section 2.6.7 or 2.8.2, the Total Outstanding Credit Exposure would exceed the Borrowing Base.

(c)    The Borrowers shall notify the Administrative Agent of any election to terminate or reduce the Commitments under paragraph (b) of this Section 2.8.3 at least three (3) 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 Borrowers pursuant to this paragraph (c) shall be irrevocable; provided that a notice of termination of the Commitments delivered by the Borrowers may state that such notice is conditioned upon the effectiveness of other credit facilities or refinancing, in which case such notice may be revoked by the Borrowers (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 Commitments shall be permanent, provided that the Commitments may be increased in accordance with Section 14.6. Each reduction of the Commitments shall be made ratably among the Lenders in accordance with their respective Commitments.

2.9     Method of Selecting Loan Types and Interest Periods for New Advances . Unit will select each type of Advance and, in the case of a Eurodollar Advance, the applicable Interest Period. Unit will give the Administrative Agent irrevocable notice (a “ Borrowing Notice “) not later than 11:00 a.m. (Tulsa time) on the same Business Day as the Borrowing Date of each Floating Rate Advance and three Business Days before the Borrowing Date for each Eurodollar Advance. Unit’s notice will specify:

Not later than 1:00 p.m. (Tulsa time) on each Borrowing Date, each Lender will make available its Loan or Loans in funds immediately available in Tulsa to the Administrative Agent at its address specified under Article 15. The Administrative Agent will make the funds received from the Lenders immediately available to the Borrowers at the Administrative Agent’s address.

2.10     Conversion and Continuation of Outstanding Advances . Each Floating Rate Advance will continue as Floating Rate Advance unless converted into Eurodollar Advance under this Section 2.10 or is repaid. Each Eurodollar Advance will continue as a Eurodollar Advance until the end of its applicable Interest Period, at which time the Eurodollar Advance will be automatically converted into a Floating Rate Advance unless (x) the Eurodollar Advance is or was repaid or (y) Unit gives the Administrative Agent a Conversion/Continuation Notice requesting that, at the end of the Interest Period, the Eurodollar Advance continue as a Eurodollar Advance for the same or another Interest Period. Subject to the terms of Section 2.2, Unit may elect from time to time to convert all or any part of a Floating Rate Advance into a Eurodollar Advance. Unit will give the Administrative Agent irrevocable notice (a “ Conversion/Continuation Notice “) of each conversion of a Floating Rate Advance into a Eurodollar Advance or continuation of a Eurodollar Advance. A Conversion/Continuation Notice must be given by 11:00 a.m. (Tulsa time) on a day that is at least three Business Days before the date of the requested conversion or continuation and specify:

2.11     Interest Rate . Each Advance will bear interest at a variable per annum rate equal to the Eurodollar Rate or the Floating Rate as applicable, except as otherwise provided in Section 2.12. Each Floating Rate Advance will bear interest on its outstanding principal amount, for each day from and including the date the Advance is made or is automatically converted from a Eurodollar Advance into a Floating Rate Advance under Section 2.10 (but excluding the date it is paid or is converted into a Eurodollar Advance under Section 2.10) at an annual rate equal to the Floating Rate for that day. Changes in the rate of interest on that part of any Advance maintained as a Floating Rate Advance will take effect simultaneously with each change in the Alternate Base Rate. Each Eurodollar Advance will bear interest on its outstanding principal amount from and including the first day of the Interest Period applicable to it until (but not including) the last day of that Interest Period. The Administrative Agent will determine the applicable interest rate for each Eurodollar Advance based on Unit’s selections under Sections 2.9 and 2.10 and otherwise in accordance with the terms of this Agreement. No Interest Period may end after the Facility Termination Date.

2.12     Effect of Default or Deficiency on Advances/Rates Applicable After Default or Deficiency . Despite Section 2.9, 2.10, or 2.11, during a Default or Deficiency the Required Lenders may, at their option by written notice to Unit, declare that no Advance will be made as, converted into, or continued as a Eurodollar Advance and no LCs will be issued. During the continuance of an Event of Default, each Eurodollar Advance and each Floating Rate Advance will bear interest for the remainder of the applicable Interest Period at the rate otherwise applicable to the Interest Period plus an additional two hundred basis points (2.0%) per annum, and the LC Fee will be increased by an additional two hundred basis points (2.00%) per annum. During a Default that remains uncured (prior to an Event of Default) or a Deficiency, interest

will be determined at the applicable Level IV Status Floating Rate per annum plus an additional fifty basis points (0.50%) as to Floating Rate Advances or applicable Level IV Status Eurodollar Rate plus an additional two hundred basis points (2.00%) as to Eurodollar Rate Loans per annum as to Eurodollar Rate. During a Default or Event of Default under Subsections 10.1.6 or 10.1.7, the interest rates set forth above and the increase in the LC Fee will apply to all Credit Extensions without any election, notice or other action on the part of the Administrative Agent or any Lender; provided, however, the default interest rate specified above shall not accrue at the same time a late fee is being assessed pursuant to Section 2.5.3, such election to be at the option of the Administrative Agent and the Required Lenders.

2.13     Method of Payment of Obligations . All Obligation payments will be made, without setoff, deduction, or counterclaim, in immediately available funds to the Administrative Agent at the Administrative Agent’s address specified by Section 15.1, by 12:00 noon (Tulsa time) on the date when due (other than payments of Rate Management Obligations owed to Lender Counterparties, which shall be made in accordance with the applicable Financial Contracts governing such Rate Management Obligations) and will (except in the case of Reimbursement Obligations for which the LC Issuer has not been fully indemnified by the Lenders, or as otherwise required under this Agreement) be applied ratably by the Administrative Agent among the Lenders. The Administrative Agent will promptly pay in the same type of funds that the Administrative Agent received to each Lender at the Lender’s address specified in Section 15.1 (or at the address specified in a notice received by the Administrative Agent from the Lender)any payments the Administrative Agent receives on behalf of the Lender. The Administrative Agent may charge Borrowers’ accounts (other than any Excluded Account) at BOk for each payment of principal, interest, Reimbursement Obligations and fees due under this Agreement. Each reference to the Administrative Agent in this Section 2.13 will also be deemed to refer, and will apply equally, to the LC Issuer, in the case of payments required to be made by the Borrowers to the LC Issuer under Section 2.19.6.

Subject to the provisions of Section 11.4, all principal or interest payments on any Note or Loan will be applied first to any interest then due and payable, then to principal, and last to any prepayment of principal and interest in compliance with Section 2.8. All distributions of amounts described above will be made by Administrative Agent pro rata to each Lender then owed Obligations described in this section in proportion to all amounts owed to Administrative Agent and all Lenders which are described in this Section 2.13; provided that if any Lender then owes payments to LC Issuer for the purchase of a participation under Section 2.19.2 or to Administrative Agent under Section 13.7, any amounts otherwise distributable under this section to the Lender will be deemed to belong to LC Issuer, or Administrative Agent, respectively, to the extent of the unpaid payments, and Administrative Agent will apply those amounts to pay such unpaid payments rather than distribute those amounts to the Lender.

2.14     Payment of Fees . All fees paid under this Agreement will be paid in US Dollars on the dates due, in immediately available funds to the Administrative Agent (or the LC Issuer, in the case of fees payable to it). Fees paid will not be refundable under any circumstances except in the case of inadvertent but conclusive overpayment by Borrowers.

2.15     Telephonic Notices . The Lenders and the Administrative Agent may extend, convert, or continue Advances, effect selections of types of Advances, and transfer funds based

on telephonic notices made by any person or persons the Administrative Agent or any Lender in good faith believes authorized to act on behalf of the Borrowers. Borrowing Notices and Conversion/Continuation Notices may be given telephonically. Unit will deliver promptly to the Administrative Agent a written confirmation executed by an Authorized Officer of each telephonic notice. If the written confirmation differs in any material respect from the action taken by the Administrative Agent and any Lenders, the records of the Administrative Agent and the Lenders will govern absent manifest error.

2.16     Payment Date . Interest accrued on each Floating Rate Advance will be payable on the last day of each month, on any date on which the Floating Rate Advance is prepaid (whether due to acceleration or otherwise), and on the Facility Termination Date. Interest accrued on the principal amount of any Floating Rate Advance converted into a Eurodollar Advance on a day other than the last day of a month will be payable on the date of conversion. Interest accrued on each one month (30 day), two months (60 days), or three months (90 days) Interest Period for a Eurodollar Advance will be payable on the last day of its applicable Interest Period, on any date on which the Eurodollar Advance is prepaid (whether by acceleration or otherwise), and on the Facility Termination Date. Interest accrued on each Eurodollar Advance having an Interest Period longer than three months (i.e., six months (180 days) Interest Period) will also be payable on the last day of each three-month interval during the Interest Period. Interest will be payable from the day an Advance is made but not for the day of payment if the payment is received before 12:00 noon (local time) at the place of payment. If any payment of principal of or interest on an Advance is due on a day which is not a Business Day, that payment will be made on the next succeeding Business Day and, in the case of a principal payment, the extension of time will be included in computing interest on the payment.

2.17     Notification of Advances, Interest Rates, and LC Requests . The Administrative Agent will promptly notify each Lender of the contents of each Borrowing Notice, Conversion/Continuation Notice, or repayment notice it receives as well as changes in the applicable per annum rate of interest pursuant to the Pricing Schedule. Promptly after notice from the LC Issuer, the Administrative Agent will notify each Lender of the contents of each request for issuance of an LC.

2.18     Non-Receipt of Funds by the Administrative Agent . Unless Unit or a Lender, as the case may be, notifies the Administrative Agent before the date on which it is to make a payment to the Administrative Agent of (i) in the case of a Lender, the proceeds of a Loan or (ii) in the case of the Borrowers, a payment of principal, interest or fees, that it does not intend to make the payment, the Administrative Agent may assume that the payment has been made. The Administrative Agent may, but will not be obligated to, make the amount of the payment available to the intended recipient in reliance on that assumption. If the Lender or the Borrowers, as the case may be, did not make the payment, the recipient of the payment will when requested by the Administrative Agent, repay the amount of the payment with interest to Administrative Agent. Interest will apply for each day starting the day the payment was made until the day the Administrative Agent receives the repayment. Interest will be calculated at a rate per annum equal to (x) in the case of payment by a Lender, the Federal Funds Effective Rate for the day for the first three days and then the interest rate applicable to the relevant Loan or (y) in the case of payment by the Borrowers, the interest rate applicable to the relevant Loan.

2.19     Letters of Credit .

2.19.1.     Issuance . When requested by Unit, the LC Issuer will issue standby Letters of Credit (each, a “ LC “) and renew, extend, increase, decrease or otherwise modify each LC (“ Modify ,” and each action a “ Modification “), from time to time before the Facility Termination Date; but only if immediately after each LC is issued or Modified, (i) the total amount of the outstanding LC Obligations does not exceed the LC Sublimit and (ii) the Total Outstanding Credit Exposure does not exceed the Total Commitment. No LC will have an expiration date more than one year from its date of issuance (or, in the case of a Modification, one year after the Modification). If an expiration date for any LC is within five (5) Business Days before the Facility Termination Date, Borrowers will deposit with the Administrative Agent on the Facility Termination Date immediately available funds in an amount equal to the undrawn amount of the LC. The Administrative Agent may apply such funds to the payment of Reimbursement Obligations with respect to the LC as they become due and payable, and any balance remaining after such LC has expired or been fully drawn upon will be returned to the Borrowers.

2.19.2.     Participations . On the issuance or Modification of an LC, the LC Issuer will be deemed, without further action by any party, to have unconditionally and irrevocably sold to each Lender, and each Lender will be deemed, without further action by any party, to have unconditionally and irrevocably purchased from the LC Issuer, a participation in the LC (and each Modification of the LC) and the related LC Obligations in proportion to its Pro Rata Share.

2.19.3.     Notice . Unit will give the LC Issuer notice before 11:00 a.m. (Tulsa time) at least one Business Day before the proposed date of issuance or Modification of an LC, specifying the beneficiary, the proposed date of issuance (or Modification) and the expiration date of the LC. The issuance or Modification of an LC by the LC Issuer is subject to the LC Issuer’s approval and the Borrowers signing and delivering an LC Application or other instruments and agreements relating to the LC as the LC Issuer may reasonably request (each, a “ LC Application “). In the event of a conflict between the terms of this Agreement and the terms of an LC Application, the terms of this Agreement will control.

2.19.4.     LC Fees . The Borrowers will pay to the Administrative Agent, for the account of the Lenders in accordance with their respective Pro Rata Shares, a per annum letter of credit fee when an LC is issued. The amount of the fee will be equal to the greater of $500.00 or a per annum rate equal to the Applicable Margin for Eurodollar Loans on the stated amount of the LC (each fee described in this sentence an “ LC Fee “). The Borrowers will also pay to the LC Issuer for its own account at the time of issuance of an LC, a fronting fee in an amount equal to 0.125% of the initial stated amount, and any documentary and processing charges incurred in connection with the issuance or Modification of and draws under LCs in accordance with the LC Issuer’s then standard schedule for those charges.

2.19.5.     Administration; Reimbursement by Lenders . If the LC Issuer receives demand for payment by a beneficiary under an LC, the LC Issuer will notify the Administrative Agent. The Administrative Agent will then promptly notify the Borrowers and each other Lender of the amount demanded to be paid and the proposed payment date (the “ LC Payment Date “). The responsibility of the LC Issuer to the Borrowers and each Lender will be only to determine that the documents (including each demand for payment) delivered under each LC in connection with the presentment conforms in all material respects with the LC. In the absence of gross negligence or willful misconduct by the LC Issuer, each Lender will be unconditionally and irrevocably liable without regard to the occurrence of any Default, Event of Default or any condition precedent, to reimburse the LC Issuer on request for (i) the Lender’s Pro Rata Share of the amount of each payment made by the LC Issuer under an LC to the extent the amount is not reimbursed by the Borrowers under Section 2.19.6, plus (ii) interest on the amount to be reimbursed by the Lender for each day from the date of the LC Issuer’s demand for the reimbursement (or, if the demand is made after 12:00 noon (Tulsa time) on that date, from the next succeeding Business Day) to the date paid. The interest to be paid will be calculated at a rate of interest per year equal to the Federal Funds Effective Rate for the first three days and then at a rate of interest equal to the rate applicable to Floating Rate Advances.

2.19.6.     Reimbursement by Borrowers . The Borrowers are irrevocably and unconditionally obligated to reimburse the LC Issuer on or before the applicable LC Payment Date for any amounts to be paid by the LC Issuer under subsection 2.19.5. The Borrowers’ reimbursement obligation will be without presentment, demand, protest or other formalities of any kind but either the Borrowers or any Lender may assert any claim for direct (but not consequential) damages suffered by the Borrowers or the Lender to the extent, but only to the extent, caused by (i) the willful misconduct or gross negligence of the LC Issuer in determining whether a request presented under any LC issued by it complied with the terms of the LC or (ii) the LC Issuer’s failure to pay under any LC issued by it after the presentation to it of a request strictly complying with the terms and conditions of the LC. All amounts paid by the LC Issuer and remaining unreimbursed by the Borrowers will bear interest, payable on demand, for each day until paid at a rate per year equal to (x) the rate applicable to Floating Rate Advances for that day if that day falls on or before the applicable LC Payment Date and (y) the sum of two hundred basis points (2.0%) plus the rate applicable to Floating Rate Advances for that day if that day falls after the LC Payment Date. The LC Issuer will pay to each Lender in accordance with its Pro Rata Share all amounts received by it from the Borrowers as payment, in whole or in part, for Reimbursement Obligations in regard to any LC issued by the LC Issuer, but only if the Lender has paid the LC Issuer for the LC under Section 2.19.5. Subject to the terms and conditions of this Agreement, the Borrowers may request an Advance to satisfy any Reimbursement Obligation.

2.19.7.     Obligations Absolute . The Borrowers’ obligations under this Section 2.19 are absolute and unconditional under any and all circumstances and irrespective of any setoff, counterclaim, or defense to payment that the Borrowers may have or have had against the LC Issuer, any Lender, or any beneficiary of a LC. Borrowers acknowledge and agree that the LC Issuer and the Lenders will not be responsible for, and the

Borrowers’ Reimbursement Obligation in respect of any LC will not be affected by, among other things, the validity or genuineness of documents or of any endorsements thereon, even if those documents should in fact prove to be in any or all respects invalid, fraudulent or forged, or any dispute between or among the Borrowers, any of their Affiliates, the beneficiary of any LC, any financing institution, or other party to whom any LC may be transferred or any claims or defenses whatsoever of the Borrowers or of any of their Affiliates against the beneficiary of any LC or any transferee. The LC Issuer will not be liable for any error, omission, interruption or delay in transmission, dispatch or delivery of any message or advice, however transmitted, in connection with any LC. The Borrowers agree that any action taken or omitted by the LC Issuer or any Lender under or in connection with each LC and the related drafts and documents, if done without gross negligence or willful misconduct, will be binding on the Borrowers and will not put the LC Issuer or any Lender under any liability to the Borrowers. Nothing in this subsection 2.19.7 will limit the right of the Borrowers to make a claim for damages as provided in subsection 2.19.6.

2.19.8.     Actions of LC Issuer . The LC Issuer is entitled to rely, and will be fully protected in, relying on any LC, draft, writing, resolution, notice, consent, certificate, affidavit, letter, cablegram, telegram, telecopy, telex or teletype message, statement, order or other document believed by it to be genuine and correct and to have been signed, sent or made by the proper Person or Persons, and on advice and statements of legal counsel, independent accountants, and other experts selected by the LC Issuer. The LC Issuer will be fully justified in failing or refusing to take any action under this Agreement unless it will first have received the advice or concurrence of the Required Lenders as it reasonably deems appropriate or it will first be indemnified to its reasonable satisfaction by the Lenders against any and all liability and expense which may be incurred by it by reason of taking or continuing to take such action. Despite any other provision of this Section 2.19, the LC Issuer will in all cases be fully protected in acting, or in refraining from acting, under this Agreement in accordance with a request of the Required Lenders, and that request and any action taken or failure to act due to that request will be binding on the Lenders and any future holders of a participation in any LC.

2.19.9.     Indemnification . The Borrowers will indemnify and hold harmless each Lender, the LC Issuer and the Administrative Agent, and their respective directors, officers, administrative agents and employees from and against any and all claims, and damages, losses, liabilities, costs or expenses which a Lender, the LC Issuer or the Administrative Agent may incur (or which may be claimed against a Lender, the LC Issuer or the Administrative Agent by any Person) by reason of or in connection with the issuance, signing and delivery, transfer of or payment, or failure to pay under any LC or any actual or proposed use of any LC, including any claims, damages, losses, liabilities, costs, or expenses which the LC Issuer incurs by reason of or in connection with (i) the failure of any other Lender to fulfill or comply with its obligations to the LC Issuer (but this does not affect any rights the Borrowers may have against a defaulting Lender) or (ii) by reason of or on account of the LC Issuer issuing any LC which specifies that the term “Beneficiary” included in the LC includes any successor by operation of law of the named Beneficiary, but which LC does not require that any drawing by any successor Beneficiary be accompanied by a copy of a legal document, satisfactory to the LC Issuer,

evidencing the appointment of such successor Beneficiary. The Borrowers will not be required to indemnify any Lender, the LC Issuer or the Administrative Agent for any claims, damages, losses, liabilities, costs or expenses to the extent, but only to the extent, caused by (x) the willful misconduct or gross negligence of the LC Issuer in determining whether a request presented under an LC complied with the terms of the LC or (y) the LC Issuer’s failure to pay under any LC after the presentation to it of a request strictly complying with the terms and conditions of the LC. Nothing in this Section 2.19.9 is intended to limit the obligations of the Borrowers under any other provision of this Agreement, provided that to the extent of any inconsistency between this Section 2.19.9 and Section 12.6.1, the provisions of this Section 2.19.9 shall control; and provided further that this Section 2.19.9 shall not apply to Taxes, which shall be exclusively governed by Section 3.3.

2.19.10.     Lenders’ Indemnification . Each Lender will, in accordance with its Pro Rata Share, indemnify the LC Issuer, its Affiliates and their respective directors, officers, administrative agents and employees (to the extent not reimbursed by the Borrowers) against any cost, expense (including reasonable counsel fees and disbursements), claim, demand, action, loss or liability (except resulting from the indemnitees’ gross negligence or willful misconduct or the LC Issuer’s failure to pay under any LC after the presentation to it of a request strictly complying with the terms and conditions of the LC) that the indemnitees may suffer or incur in connection with this Section 2.19 or any action taken or omitted by the indemnitees under this Section 2.19.

2.19.11.     Existing Letters of Credit . Each letter of credit issued and outstanding under the Existing Credit Agreement as of the date hereof will be deemed to constitute an LC issued under this Agreement on the date hereof for all purposes of the Loan Documents; provided that no additional LC fees or fronting fees will be payable with respect to such letters of credit under Section 2.19.4. for which LC fees and fronting fees have been paid in full.

2.20     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:

e., the Pro Rata Share of the Borrowing Base of a Defaulting Lender) will not be increased without the consent of the Defaulting Lender;

Administrative shall determine may be necessary in order for such Lender to hold such Loans in accordance with its Pro Rata Share.

2.21     Ratable Payments . If any Lender, whether by setoff or otherwise, has payment made to it on its Outstanding Credit Exposure (other than payments received under Article 3) in a greater proportion than that received by any other Lender, such Lender agrees, promptly on demand, to purchase a portion of the Total Outstanding Credit Exposure held by the other Lenders so that after such purchase each Lender will hold its Pro Rata Share of the Total Outstanding Credit Exposure. If any Lender, whether in connection with setoff or amounts which might be subject to setoff or otherwise, receives collateral or other protection for its Obligations (other than its Rate Management Obligations, if any) or such amounts which may be subject to setoff, such Lender agrees, promptly on demand, to take such action necessary such that all Lenders share in the benefits of such collateral ratably in proportion to their respective Pro Rata Shares of the Total Outstanding Credit Exposure.

ARTICLE 3

YIELD PROTECTION; TAXES

3.1     Yield Protection . If, on or after the date of this Agreement, the adoption of any law or any governmental or quasi-governmental rule, regulation, policy, guideline or directive (whether or not having the force of law), or any change in its interpretation or administration by any governmental or quasi-governmental authority, central bank, or comparable agency charged with its interpretation or administration thereof or compliance by any Lender or applicable banking address of the LC Issuer with any request or directive of any such authority, central bank or comparable agency:

(i)      imposes or increases or deems applicable any reserve, assessment, insurance charge, special deposit, or similar requirement against assets of, deposits with (or for the account of), or credit extended by, any Lender or the LC Issuer (other than reserves and assessments taken into account in determining the interest rate applicable to Eurodollar Advances): or

(ii)      imposes any other condition the result of which is to increase a Lender’s cost, the interbank eurocurrency deposit market cost or the LC Issuer’s costs of making, funding or maintaining its Eurodollar Loans or of issuing or participating in LCs, or reduces any receivable of a Lender, the interbank eurocurrency deposit market or the LC Issuer in connection with its Eurodollar Loans, LCs or participations therein, or requires any Lender, the interbank Eurocurrency deposit market or the LC Issuer to make any payment calculated by reference to the amount of Eurodollar Loans, LCs or participations therein held or interest or LC Fees received by it, by an amount deemed material by such Lender or the LC Issuer as the case may be and the result of any of the foregoing is to increase the cost to such Lender or the LC Issuer, as the case may be, of making or maintaining its Eurodollar Loans or Commitment or of issuing or participating in LCs or to reduce the return received by such Lender, the interbank eurocurrency deposit market or the LC Issuer, as the case may be, in connection with such Eurodollar Loans, Commitment, LCs or participations therein,

then, within 15 days of demand by the Administrative Agent or the LC Issuer, as the case may be, to Unit, the Borrowers will pay Administrative Agent for the account of the Lender or the LC Issuer, as the case may be, that additional amount or amounts as will compensate the Lender or the LC Issuer, as the case may be, for the increased cost or reduction in the amount received by it; provided that the Borrowers shall not be required to compensate a Lender or the LC Issuer pursuant to this Section 3.1 for any increased costs or reductions incurred more than 365 days prior to the date that such Lender or the LC Issuer, as the case may be, notifies Unit of the change giving rise to such increased costs or reduction and of the Lender's or the LC Issuer's intentions to claim compensation therefor.

The foregoing provisions of this Section 3.1 shall not apply to Taxes, which shall be governed exclusively by Section 3.3.

3.2     Changes in Capital Adequacy Regulations . If a Lender or the LC Issuer determines, in good faith, the amount of capital required or expected to be maintained by the Lender or the LC Issuer, or any corporation controlling the Lender or the LC Issuer is increased as a result of a Change, then, within 15 days of demand to Unit by the Lender or the LC Issuer, the Borrowers will pay the Lender or the LC Issuer the amount necessary to compensate the shortfall in the rate of return on the portion of the increased capital which the Lender or the LC Issuer determines in good faith is attributable to this Agreement, its Outstanding Credit Exposure or its Commitment (after taking into account the Lender’s or the LC Issuer’s policies as to capital adequacy). “ Change “ means (i) any change after the date of this Agreement in the Risk-Based Capital Guidelines or (ii) any adoption of or change in any other law, governmental or quasi-governmental rule, regulation, policy, guideline, interpretation, or directive (whether or not having the force of law) after the date of this Agreement which affects the amount of capital required or expected to be maintained by any Lender or the LC Issuer or any corporation controlling any Lender or the LC Issuer. “ Risk-Based Capital Guidelines “ means (i) the risk-based capital guidelines in effect in the United States on the date of this Agreement, including transition rules, and (ii) the corresponding capital regulations promulgated by regulatory authorities outside the United States implementing the July 1988 report of the Basle Committee on Banking Regulation and Supervisory Practices Entitled “ International Convergence of Capital Measurements and Capital Standards ,” including transition rules, and any amendments to the regulations adopted prior to the date of this Agreement. Notwithstanding anything in this Agreement to the contrary, (i) the Dodd-Frank Wall Street Reform and Consumer Protection Act and all requests, rules, guidelines or directives thereunder, issued in connection therewith or in implementation thereof, and (ii) all requests, proposed or final rules, interpretations, guidelines and directives promulgated by the Bank for International Settlements, the Basel Committee on Banking Supervision (or any successor or similar authority) or the United States or foreign regulatory authorities, will in each case be deemed to be “Change”, regardless of the date enacted, adopted, issued or implemented.

3.3     Taxes . (i) All payments by the Borrowers to or for the account of any Lender, the LC Issuer or the Administrative Agent or under any Note or LC Application will be made free and clear of and without deduction for any Indemnified Taxes or Other Taxes, unless such withholding is required by any law. If the Borrowers are required by law to deduct Indemnified Taxes or Other Taxes from any payment to a Lender, the LC Issuer, or the Administrative Agent, to the extent not prohibited by applicable law, (a) the payment will be increased so that after

making all required deductions (including deductions applicable to payments under this Section 3.3) the Lender, the LC Issuer, or the Administrative Agent (as the case may be) receives an amount equal to the payment it would have received had no deductions been made, (b) the Borrowers will make the deductions, (c) the Borrowers will pay the full amount deducted to the relevant authority in accordance with applicable law, and (d) the Borrowers will furnish Administrative Agent a copy of a receipt evidencing payment within 30 days after the payment is made.

as “grandfathered obligations” within the meaning of Treasury Regulation Section 1.1471-2(b)(2)(i).

3.4     Availability of Eurodollar Advances. If a Lender determines that maintenance of its Eurodollar Loans at a suitable banking location would violate any applicable law, rule, regulation, or directive, whether or not having the force of law, then, upon notice by that Lender to the Borrowers and the Administrative Agent, such Lender’s obligation to continue to make or convert Eurodollar Loans shall be suspended until that Lender notifies the Borrowers and the Administrative Agent that the circumstances giving rise to such determination no longer exist and (ii) any Eurodollar Advances of that Lender shall be converted to Floating Rate Advances, to the extent required to comply with such Laws or change, subject to the payment of any funding indemnification amounts required by Section 3.5. If the Required Lenders determine that (i) deposits of a type and maturity appropriate to match fund Eurodollar Advances are not available or (ii) the interest rate applicable to Eurodollar Advances does not accurately reflect the cost of making or maintaining Eurodollar Advances, then, upon notice by the Required Lenders to the Borrowers and the Administrative Agent, the availability of Eurodollar Advances, and continuations thereof and conversions thereto, will be suspended to the extent required to comply with such Laws or change until the Required Lenders notify the Borrowers and the Administrative Agent that the circumstances giving rise to such determination no longer exist and (ii) require any affected Eurodollar Advances to be repaid or converted to Floating Rate Advances, subject to the payment of any funding indemnification amounts required by Section 3.5.

3.5     Funding Indemnification . If for any reason a payment of a Eurodollar Advance occurs on a date which is not the last day of the applicable Interest Period or a Eurodollar Advance is not made on the date specified by the Borrowers for any reason other than a breach of this Agreement by one or more Lenders, the Borrowers will indemnify each Lender for any resulting loss or cost incurred by it.

3.6     Mitigation Obligations. If any Lender requests compensation under Sections 3.1, 3.2 or 3.4 or if any Credit Party is required to pay any additional amount to any Lender or any Governmental Authority for the account of any Lender or indemnify any Lender pursuant to Section 3.3, 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 reasonable judgment of such Lender, such designation or assignment (i) would eliminate or reduce amounts payable pursuant to Sections 3.1, 3.2, 3.3 or 3.3, 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.

3.7     Replacement Lenders . If a Lender (i) has notified Unit and the Administrative Agent of the circumstances described in Sections 3.1 or 3.4, (ii) has required Borrowers to make payments for Indemnified Taxes or Other Taxes under Section 3.3, (iii) becomes a Defaulting Lender, (iv) is a Non-Extending Lender under Section 3.8, or (v) objects to an increase in the Borrowing Base proposed by the Administrative Agent under the provisions of Section 2.6.2, then Unit may, at its sole cost, expense and effort, within ninety (90) days of Unit’s learning of any of the items in (i) - (v) provided that no Event of Default then exists, terminate, in whole but not in part, the Commitment of that Lender (other than the Administrative Agent) (a “ Terminated

Lender “), on ten (10) days’ prior written notice to the Terminated Lender and the Administrative Agent (a “ Notice of Termination “) of Unit's decision under this Section 3.7. If, at any time during the ninety day period and before Unit issues a Notice of Termination, the Terminated Lender notifies Unit in writing that the circumstances giving rise to the notice, event or circumstance no longer apply or the Terminated Lender otherwise withdraws its request for additional compensation or approves the proposed Borrowing Base increase tendered by the Administrative Agent, as the case may be, then Unit will no longer be permitted to terminate the Commitment of that Lender by reason of the particular circumstances that no longer apply, the request that was withdrawn or the Borrowing Base increase that was approved, as the case may be.

To effect the termination of the Commitment of the Terminated Lender, Unit will: obtain either or both (i) an agreement by one or more Lenders to increase their Commitment or Commitments or (ii) an agreement by one or more other banking or lending institutions to become parties to this Agreement in place and instead of Terminated Lender and agree to accept a Commitment or Commitments; provided, however, that the new banking or lending institutions are reasonably acceptable to the Administrative Agent and become parties by executing an Assignment (the Lenders or other banking institutions that agree to accept in whole or in part the Commitment of the Terminated Lender being referred to herein as the “ Replacement Lenders “) without recourse from the Terminated Lender, and that the aggregate increased and/or accepted Commitments of the Replacement Lenders under clauses (i) and (ii) above equal the Commitment of the Terminated Lender.

The Notice of Termination shall include the name of the Terminated Lender, the date the termination will occur (the “ Lender Termination Date “), and within twenty (20) days of the Notice of Termination, Unit shall designate in writing the Replacement Lender or Replacement Lenders to which the Terminated Lender will assign its Commitment and, if there will be more than one Replacement Lender, the portion of the Terminated Lender’s Commitment to be assigned to each Replacement Lender.

On the Lender Termination Date, (i) the Terminated Lender shall by execution and delivery of an Assignment assign, without recourse, its Commitment and all of its interests, rights and obligations under this Agreement and the related Loan Documents to the Replacement Lender or Replacement Lenders (pro rata, if there is more than one Replacement Lender, in proportion to the Pro Rata Share of the Terminated Lender’s Commitment to be assigned to each Replacement Lender) indicated in the Notice of Termination and shall assign to the Replacement Lender or Replacement Lenders each of its Loans (if any) then outstanding and participation interests in Letters of Credit (if any) then outstanding pro rata as aforesaid), (ii) the Terminated Lender shall endorse its Note, if any, payable without recourse, representation or warranty to the order of the Replacement Lender or Replacement Lenders (Pro Rata Share as aforesaid), (iii) the Replacement Lender or Replacement Lenders shall purchase the Note, if any, or Commitment held by the Terminated Lender (pro rata as aforesaid) at a price equal to the unpaid principal amount (including its participation in and Pro Rata Share of the LC Exposure) plus interest, facility fees, Commitment Fee and other fees accrued and unpaid to the Lender Termination Date, and (iv) the Replacement Lender or Replacement Lenders will thereon (pro rata as aforesaid) succeed to and be substituted in all respects for the Terminated Lender with like effect as if becoming a Lender under the terms of Section 14.3, and the Terminated Lender will have

the rights and benefits of an assignor under Section 14.3. To the extent not in conflict, the terms of Section 14.3 shall supplement the provisions of this Section 3.7. For each assignment made under this Section 3.7, the Replacement Lender shall pay to the Agent the processing fee provided for in Section 14.3. The Borrower will be responsible for the concurrent payment of any breakage costs associated with termination and Replacement Lenders, as set forth in Section 3.5.

3.8     Extension of Maturity Date .

3.8.1.     Requests for Extension . Unit may, by notice to the Administrative Agent (who shall promptly notify the Lenders) not earlier than eighteen (18) months and not later than twelve (12) months before the stated Facility Termination Date then in effect (the “Existing Maturity Date”), request that each Lender extend the Lender’s Facility Termination Date for an additional one (1) year period from the Existing Maturity Date; but the Borrowers may request only two extensions under this Agreement and Borrowers will pay at the closing of an extension a reasonable extension fee, the amount of which will be negotiated and agreed to by the Lenders and Unit.

3.8.2.     Lender Elections to Extend . Each Lender, acting in its sole and individual discretion, shall, by notice to the Administrative Agent given not later than the date (the “ Notice Date ”) that is sixty (60) days after Unit has given notice in accordance with Section 3.8.1, advise the Administrative Agent whether or not the Lender agrees to the extension (and each Lender that determines not to so extend its Facility Termination Date (a “ Non-Extending Lender ”) and shall notify the Administrative Agent of that fact promptly after that determination (but in any event no later than the Notice Date) and any Lender that does not so advise the Administrative Agent on or before the Notice Date shall be deemed to be a Non-Extending Lender. The election of any Lender to agree to the extension shall not obligate any other Lender to so agree.

3.8.3.     Notification by Administrative Agent . The Administrative Agent shall notify the Borrower of each Lender’s determination under this Section no later than the date seven (7) days after the Notice Date (or, if the date is not a Business Day, on the next succeeding Business Day).

3.8.4.     Additional Commitment Lenders . The Borrowers shall have the right on or before the Existing Maturity Date to replace each Non-Extending Lender with, and add as “Lenders” under this Agreement one or more Replacement Lenders (each, an “ Additional Commitment Lender “) as provided in Section 3.7, each of which Additional Commitment Lenders shall have entered into an Assignment and Assumption under which the Additional Commitment Lender shall, effective as of the Existing Maturity Date, undertake a Commitment (and, if any Additional Commitment Lender is already a Lender, its Commitment will be in addition to the Lender’s Commitment on that date).

3.8.5.     Minimum Extension Requirement . Only if the total of the Commitments of the Lenders that have agreed to extend their Facility Termination Date and the additional Commitments of the Additional Commitment Lenders is more than 50% of the total amount of the Commitments in effect immediately before the Existing Maturity

Date, then, effective as of the Existing Maturity Date, the Facility Termination Date of each Lender (other than each Non-Extending Lender) and of each Additional Commitment Lender will be extended to the date which is one year after the Existing Maturity Date. If that date is not a Business Day, then the Facility Termination Date as extended will be the next preceding Business Day. Each Additional Commitment Lender will as a result become a “Lender” for all purposes of this Agreement.

3.8.6.     Conditions to Effectiveness of Extensions . Notwithstanding the above provisions of this Section, the extension of the Facility Termination Date will not be effective with respect to any Lender unless:

3.8.7.     Conflicting Provisions . This Section 3.8 will supersede any conflicting provisions in Section 11.2.

ARTICLE 4

CONDITIONS PRECEDENT

4.1     Credit Extension . The Lenders will not be required to make any initial Credit Extension unless:

4.1.1.    Unit has furnished to the Administrative Agent at its main banking offices in Tulsa, Oklahoma, each of the following, duly executed by the applicable Credit Parties and delivered in form, substance and date satisfactory to the Administrative Agent, with sufficient copies for all of the Lenders:

and of resolutions or actions of any other body authorizing the authentication of the Loan Documents to which each Borrower is a party,

attorney’s fees and expenses of legal counsel for the Administrative Agent will have been paid.

4.1.2      The Administrative Agent will (i) attempt to promptly obtain the surrender to of and deliver to Unit all of the promissory notes held by the Original Lenders under the Original Credit Agreement and .(ii) notify Unit and the Lenders of the date that the initial Credit Extension was made.

4.2     Each Credit Extension . The Lenders are not required to make a Credit Extension unless on the applicable Credit Extension Date:

Each Borrowing Notice or request for issuance of an LC will constitute a representation and warranty by the Borrowers that the applicable conditions contained in Section 4.2 have been satisfied or will be satisfied by the applicable Credit Extension Date.

ARTICLE 5

REPRESENTATIONS AND WARRANTIES

The Credit Parties represent and warrant to the Lenders that as of the Fourth Amendment Effective Date:

5.1     Existence and Good Standing . Each Credit Party is a corporation or limited liability company, duly and properly incorporated or organized, as the case may be, validly existing and (to the extent applicable to such entity) in good standing under the laws of its

jurisdiction of incorporation or organization and has all requisite authority to carry on its business in each jurisdiction as now conducted.

5.2     Authorization and Validity . Each Credit Party has the power and authority and legal right to execute and deliver the Loan Documents to which it is a party and to perform its obligations thereunder. The authentication and delivery by each Credit Party of the Loan Documents to which it is a party and the performance of its obligations thereunder have been duly authorized by proper corporate or limited liability company proceedings. The Loan Documents to which a Credit Party is a party constitute legal, valid and binding obligations of that Credit Party enforceable against it in accordance with their terms, except as may be limited by bankruptcy, insolvency, or similar laws affecting the enforcement of creditors’ rights generally and general principles of equity (“ Enforceability Exceptions ”).

5.3     No Conflict; Government Consent . Neither the authentication and delivery of the Loan Documents by any of the Credit Parties which is a party to those documents, nor the consummation of the transactions contemplated by the Loan Documents, nor compliance with the provisions of the Loan Documents will violate in any material respect (i) any law, rule, regulation, order, writ, judgment, injunction, decree or award binding on the Credit Parties, (ii) any of the Credit Parties’ articles or certificate of incorporation, partnership agreement, certificate of partnership, articles or certificate of organization, by-laws, or operating or other management agreement, as the case may be, or (iii) the provisions of any indenture, instrument or agreement to which any of the Credit Parties is a party or is subject, or by which it, or its Property, is bound, or conflict with or constitute a default, or result in, or require, the creation or imposition of any Lien in, of, or on the Property of the Credit Parties under the terms of any such indenture, instrument or agreement. No order, consent, adjudication, approval, license, authorization, or validation of, or filing, recording or registration with, or exemption by, or other action in respect of any governmental or public body or authority, or any subdivision thereof, which has not been obtained by the applicable Credit Parties, and the failure of which to obtain could reasonably be expected to have a Material Adverse Effect is required to be obtained by the Credit Parties in connection with the authentication and delivery of the Loan Documents, the borrowings under this Agreement, the payment and performance by the Borrowers of the Obligations or the legality, validity, binding effect or enforceability of any of the Loan Documents.

5.4     Financial Statements . The audited annual and unaudited quarterly, consolidated financial statements of Unit and its consolidated Subsidiaries previously delivered to the Lenders were prepared in accordance with GAAP (except that the unaudited interim financial statements were subject to normal and recurring year-end adjustments) in effect on the date the statements were prepared and fairly present, in all material respects, the consolidated financial position and consolidated results of operations and cash flows of Unit and its consolidated subsidiaries at that date and the consolidated results of their operations for the period then ended.

5.5     Material Adverse Effect . Since the filing of Unit’s most recent SEC Form 10-K on February 27, 2018, there has been no change in the business, Property, prospects, condition (financial or otherwise) or results of operations of the Credit Parties which could reasonably be expected to have a Material Adverse Effect. There is no fact known to the Borrowers which has a Material Adverse Effect or in the future is reasonably likely to have (so far as the Credit Parties

can now foresee) a Material Adverse Effect and which has not been set forth in this Agreement or the other documents, certificates and statements furnished to the Administrative Agent by or on behalf of the Credit Parties before, or on, the date of this Agreement.

5.6     Taxes . The Credit Parties have filed all United States federal Tax returns and all other material Tax returns which are required to be filed and have paid all Taxes due under those returns or under any assessment received by the Credit Parties or any of their Subsidiaries, except (i) Taxes, if any, that are being contested in good faith and as to which adequate reserves have been provided in accordance with GAAP, and (ii) other Taxes where the failure to file or the failure to timely pay could not reasonably be expected to have a Material Adverse Effect. No material tax Liens have been filed and no material claims are being asserted with respect to any Taxes.

5.7     Litigation and Contingent Obligations . There is no litigation, arbitration, governmental investigation, proceeding or inquiry pending or, to the knowledge of any of their officers, threatened against or affecting the Credit Parties which could reasonably be expected to have a Material Adverse Effect or which seeks to prevent, enjoin or delay the making of any Credit Extensions. Other than any liability incident to any litigation, arbitration or proceeding which could not reasonably be expected to have a Material Adverse Effect, the Credit Parties have no material Contingent Obligations not provided for or disclosed in the financial statements referred to in Section 5.4 except as set forth on Schedule 7 of this Agreement.

5.8     Subsidiaries . The Disclosure Schedule contains an accurate list of all Subsidiaries of Unit as of the date of this Agreement, setting forth their respective jurisdictions of organization and the percentage of their respective capital stock or other ownership interests owned by the Unit or the other Credit Parties. All of the issued and outstanding shares of capital stock or other ownership interests of the Subsidiaries have been (to the extent those concepts are relevant with respect to those ownership interests) duly authorized and issued and are fully paid and non-assessable.

5.9     ERISA . Neither the Credit Parties nor any other member of the Controlled Group has incurred, or is reasonably expected to incur, any Withdrawal Liability to Multiemployer Plans which could reasonably be expected to have a Material Adverse Effect. Each Plan complies in all material respects with all applicable requirements of law and regulations (ii), no Reportable Event has occurred with respect to any Plan, (iii) neither the Credit Parties nor any other member of the Controlled Group has withdrawn from any Plan or initiated steps to do so, and (iv) no steps have been taken to reorganize or terminate any Plan, except as disclosed in the Disclosure Schedule.

5.10     Accuracy of Information . No information, exhibit or report furnished by the Credit Parties to the Administrative Agent or to any Lender in connection with the negotiation of, or compliance with, the Loan Documents contained any material misstatement of fact or omitted to state a material fact or any fact necessary to make the statements contained therein not misleading, in each case as of the date furnished and when taking all such information, exhibits and reports as a whole; provided, that, with respect to projected financial information, the Borrowers represent only that such information was prepared in good faith based on assumptions

believed by Borrowers to be reasonable both at the time made and as of the effective date of this Agreement.

5.11     Margin Stock . No part of the Loan proceeds of any Advances will be used to purchase or carry any margin stock or to extend credit to others for the purpose of purchasing or carrying margin stock. If requested by the Administrative Agent or the Required Lenders, the Credit Parties will furnish to the Administrative Agent a statement in conformity with the requirements of Federal Reserve Form U-1, referred to in Regulation U, to the foregoing effect. No indebtedness being reduced or retired out of the proceeds of the Advances was or will be incurred for the purpose of purchasing or carrying any margin stock within the meaning of Regulation U or any “margin security” within the meaning of Regulation T. “Margin Stock” within the meaning of Regulation U does not constitute more than 25% of the value of the consolidated assets of Unit and its Subsidiaries.

5.12     Material Agreements; Default . Unit has no actual knowledge of (i) any material agreement or material instrument to which any Credit Party is a party or (ii) any charter or other corporate restriction, either of which (i) or (ii), under current conditions and circumstances known to Unit, constitutes or could reasonably be expected to have a Material Adverse Effect. No Credit Party is in default in the performance, observance or fulfillment of any of the obligations, covenants or conditions contained in (i) any agreement to which it is a party, which default could reasonably be expected to have a Material Adverse Effect or (ii) any agreement or instrument evidencing or governing Indebtedness, which default could reasonably be expected to have a Material Adverse Effect. No Default exists.

5.13     Compliance With Laws . The Credit Parties have complied with all applicable statutes, rules, regulations, orders and restrictions of any domestic or foreign government or any instrumentality or agency thereof having jurisdiction over the conduct of their respective businesses or the ownership of their respective Property except for any failure to comply with any of the foregoing which could not reasonably be expected to have a Material Adverse Effect.

5.14     Ownership of Properties . Each of the Credit Parties and their respective Subsidiaries has marketable title to all of the properties and assets reflected as owned in the consolidated financial statements of Unit, in each case free and clear of all Liens other than Permitted Encumbrances and all other Liens or title defects as do not materially and adversely affect the value of the property for, and do not materially interfere with the use made or proposed to be made of such property by Unit or its Subsidiaries, which such other Liens or title defects do not exceed $2,000,000 in total. The real property, improvements, equipment and personal property held under lease by the Credit Parties are held under valid enforceable leases, except for Permitted Encumbrances, and all other Liens or title defects as are not material and do not materially interfere with the use made or proposed to be made of the real property, improvements, equipment, or personal property by the Credit Parties. The Credit Parties possess all licenses, permits, franchises, patents, copyrights, trademarks and trade names, and other intellectual property (or otherwise possess the right to use the intellectual property without violation of the rights of any other Person) which are necessary to carry out their business as presently conducted and as proposed to be conducted hereafter, except to the extent that the failure to have such rights would not have or be reasonably expected to have a Material Adverse Effect.

5.15     Plan Assets; Prohibited Transactions . Neither the signing of this Agreement nor the making of Loans gives rise to a prohibited transaction within the meaning of Section 406 of ERISA or Section 4975 of the Code. During the last ten (10) years, no Reportable Event has occurred with respect to any Plan that has not been timely cured with any Lien imposed as a result thereof fully released of record. The Credit Parties have (i) fulfilled all their obligations under the funding standards of ERISA and the Code and (ii) are in compliance in all material respects with the applicable ERISA and Code provisions with respect to each Plan. During the last ten (10) years, there have not been any nor are there now existing any events or conditions that would permit any Plan to be terminated under circumstances which would cause the lien provided under Section 4068 of ERISA to attach to the assets of the Credit Parties or any of the Subsidiary Guarantors. No Credit Party has (i) sought any waiver of the minimum funding standard under Section 412 of the Code, (ii) failed to make any contribution or payment to any Plan, or made any amendment to any Plan, which has resulted or could reasonably be expected to result in the imposition of a Lien or the posting of a bond or other security under ERISA or the Code, or (iii) incurred any liability under Title IV of ERISA.

5.16     Environmental Matters . Except as set forth on Schedule 4:

5.17     Names and Places of Business . No Credit Party has, during the preceding five years, had, been known by, or used any other trade or fictitious name. The chief executive office and principal place of business of each Credit Party are located at the address of the Credit Parties specified in Section 15.1.

5.18     Possession of Franchises, Licenses . The Credit Parties have in their possession, or have timely applied for, all franchises, certificates, licenses, permits and other authorizations from governmental political subdivisions or regulatory authorities, that are necessary in any material respect for the ownership, maintenance and operation of each Property, and none of the Credit Parties is in violation of any thereof in any material respect.

5.19     Rate Management Transactions . As of the date of this Agreement, Schedule 5 sets forth a true and complete list of all current Rate Management Transactions (including contracts of sale which provide for prepayment for deferred shipment or delivery of oil, gas or other commodities) of the Credit Parties and their counterparties.

5.20     Insurance . The insurance certificate provided under Section 4.1(viii) contains an accurate and complete description of all material policies of fire, liability, workmen’s

compensation and other forms of insurance owned or held by the Credit Parties. All such policies are in full force and effect, all premiums with respect thereto covering all periods up to and including the date of this Agreement have been paid, and no notice of cancellation or termination has been received with respect to any such policy. Such policies are sufficient for compliance with all applicable requirements of law and of all agreements to which any Credit Party is a party; are valid, outstanding and enforceable (subject to Enforceability Exceptions) policies; Borrowers will take no action to terminate the policies earlier than the respective dates set forth in such insurance certificate; and will not in any way be affected by, or terminate or lapse by reason of, the transactions contemplated by this Agreement. Except as disclosed by Unit in writing to the Administrative Agent, none of the Credit Parties have been refused any insurance with respect to its material assets or operations, nor has its coverage for its material assets been limited below usual and customary policy limits, by an insurance carrier to which it has applied for any such insurance or with which it has carried insurance during the last three years.

5.21     Solvency . The Borrowers and their Subsidiaries (and with respect to their Subsidiaries, after taking into account each Subsidiary's rights of contribution), on a consolidated basis, are not insolvent, the Borrowers' and its Subsidiaries' assets (and with respect to their Subsidiaries, after taking into account each Subsidiary's rights of contribution), on a consolidated basis, exceed their liabilities, and neither the Borrowers nor any of their Subsidiaries (and with respect to their Subsidiaries, after taking into account each Subsidiary's rights of contribution) will be rendered insolvent by the execution and performance of this Agreement and the Loan Documents.

5.22     EEA Financial Institutions . No Credit Party is an EEA Financial Institution.

5.23     Investment Company Act . No Credit Party is or is required to be registered as an "investment company" under the Investment Company Act of 1940.

ARTICLE 6

AFFIRMATIVE COVENANTS

During the term of this Agreement, unless the Required Lenders will otherwise consent in writing:

6.1     Reports . Unit will maintain and furnish to the Administrative Agent:

period from the beginning of such fiscal year to the end of such quarter, all certified by its chief financial officer;

contained in Regulations S-K and S-X promulgated by the SEC, will take into account any “over/under produced” status under gas balancing arrangements, and will contain information and analysis comparable in scope (subject to changes necessary to comply with future laws); to that contained in the Engineering Report previously furnished to the Administrative Agent;

6.2     Use of Proceeds . Credit Extension proceeds will be used, as necessary, (i) to arrange for the refinancing of any Original Indebtedness and the commitments issued in the Original Credit Agreement, (ii) to provide financing for general working capital requirements for (a) exploration, development, production and acquisition of Oil and Gas Properties, (b) acquisitions and operation of midstream assets, (c) issuance of standby Letters of Credit and, (d) contract drilling services, and (iii) for general corporate purposes of the Borrowers.

6.3     Notice of Default . Unit will give prompt notice in writing to the Lenders of the occurrence of any Default known to it and of any other development, financial or otherwise, known to it which could reasonably be expected to have a Material Adverse Effect.

6.4     Conduct of Business . Except as otherwise permitted under Section 7.3, the Credit Parties will conduct their respective business in substantially the same manner and in substantially the same fields of enterprise as it is presently conducted and do all things necessary to remain duly incorporated or organized, validly existing and (to the extent the concept applies to the entity) in good standing as a domestic corporation, partnership or limited liability company in its jurisdiction of incorporation or organization, as the case may be, and maintain all requisite authority to conduct its business in each jurisdiction in which its business is conducted, except only where the failure to so qualify could not reasonably be expected to have or result in a Material Adverse Effect.

6.5     Taxes. The Credit Parties will, timely file complete and correct United States federal and applicable foreign, state and local Tax returns required by law and pay, when due, all Taxes on it or its income, profits or Property, except any material Taxes which are being contested in good faith by appropriate proceedings and with respect to which adequate reserves have been provided in accordance with GAAP.

6.6     Insurance. The Credit Parties will, maintain with, to the best of Unit’s knowledge and belief, financially sound and reputable insurance companies insurance on their Property in amounts and covering those risks consistent with their prior reasonable and prudent business practices. On or prior to the initial Credit Extension and thereafter on reasonable written request from the Administrative Agent, Unit will furnish to any Lender information as to the insurance carried.

6.7     Compliance With Laws . The Credit Parties will, comply, in all material respects, with all laws, rules, regulations, orders, writs, judgments, injunctions, decrees or awards to which it may be subject including, without limitation, all Environmental Laws.

6.8     Maintenance of Properties . The Credit Parties will do all things reasonably necessary, consistent with their prior prudent practices, to maintain, preserve, protect and keep their respective Property in good repair, working order and condition, ordinary wear and tear excepted and make all necessary and proper repairs, renewals and replacements so that its business carried on in connection with those Properties may be conducted consistent with the Credit Parties’ prior customary business practices.

6.9     Inspection . The Credit Parties will permit the Administrative Agent and the Lenders, by their respective representatives, to inspect any of the Property, books and financial records of the Credit Parties, exclusive of records subject in good faith to attorney work product or privileged communications rules and standards, to examine and make copies of the books of accounts and other financial records of the Credit Parties, and to discuss the affairs, finances and accounts of the Credit Parties with, and to be advised as to the same by, their respective officers at such reasonable times and intervals as the Administrative Agent or any Lender may designate. Any inspection by a Lender of the Property of the Credit Parties will be at the sole risk and liability of such Lender.

6.10     Compliance with OFAC Rules and Regulations .

(a) To the knowledge of the Borrowers, none of the Borrowers or any of its Subsidiaries or their respective directors, officers, employees and agents is in violation of (or will take any action that would violate) any of the country or list based economic and trade sanctions administered and enforced by OFAC that are described or referenced at http://www.ustreas.gov/offices/enforcement/ofac/ or as otherwise published from time to time;

(b) None of the Borrowers or any of its Subsidiaries or, to the knowledge of the Borrowers, their respective directors, officers, employees and agents (i) is a Sanctioned Person, (ii) has more than 10% of its assets located in Sanctioned Countries, or (iii) derives more than 10% of its operating income from investments in, or transactions with Sanctioned Persons or Sanctioned Countries;

(c) No Credit Party has heretofore or will hereafter knowingly become associated with or act on behalf of any Person that: (i) has used any corporate funds for any unlawful contribution, gift, entertainment or other unlawful expense relating to political activity; (ii) offered, paid, given, promised to pay, authorized the payment of, or taken any action in furtherance of the payment of anything of value directly or indirectly to a Government Authority or any other Person to improperly influence the recipient’s action or otherwise to obtain or retain business or to secure an improper business advantage; or (iii) violated or is in violation of any provision of any Anti-Corruption Law; and

(d) Each Credit Party has implemented and maintains in effect policies and procedures designed to promote compliance by such Credit Party and its respective directors, officers and employees with Anti-Money Laundering Laws, Anti-Corruption Laws and applicable Sanctions, and each Credit Party and their respective officers and employees and, to the knowledge of each such Loan Party, its directors, are in compliance with all Anti-Money Laundering Laws, Anti-Corruption Laws and all applicable Sanctions in all material respects. No Advance, other borrowing or Letter of Credit, use of proceeds or other transaction contemplated by this Agreement or the other Loan Documents will violate any Anti-Money Laundering Laws, any Anti-Corruption Laws, or any applicable Sanctions.

6.11      Pledged Collateral .

(a) Subject to clause (c) below, the applicable Borrowers shall execute and deliver to the Administrative Agent as additional security for the Obligations (and, if necessary, shall cause any Subsidiary and each other applicable Person that is Affiliated with any Person comprising the Borrowers and any Subsidiary, as applicable, to execute and deliver to Administrative Agent), the following additional Loan Documents and any related information and materials, and Borrowers shall pay all costs and expenses in connection with Administrative Agent negotiation, enforcement, amendment, administration, filing and recording any such Security Instrument (including, without limitation, any mortgage or

intangible tax) and reviewing and evaluating any such related information and materials:

 

(i) one or more Mortgages encumbering Oil and Gas Properties of the Credit Parties and granting the Administrative Agent (on behalf of the Lenders) a first-priority Lien interest (subject only to Permitted Encumbrances) therein such that after giving effect thereto, the mortgaged Oil and Gas Properties will represent at least 85% of the proved developed producing (discounted at present worth at 8% ( “PDP PW8” ) total value of the Oil and Gas Properties evaluated in the most recently completed reserve report or engineering report (as applicable) after giving effect to exploration and production activities, acquisitions, dispositions and production, all as determined by Administrative Agent in accordance with Administrative Agent’s then-current practices, economic and pricing parameters, methodology, assumptions, and prudent oil and gas banking industry standards established by Administrative Agent from time to time for its petroleum industry customers. All such Liens will be created and perfected by and in accordance with the provisions of the Mortgages and UCC financing statements, all in form and substance reasonably satisfactory to the Administrative Agent and in sufficiently executed (and acknowledged where necessary or appropriate) counterparts for recording purposes with accurate and complete legal descriptions (which instruments Administrative Agent shall then cause to be recorded, at Borrowers’ cost, in all applicable jurisdictions as determined by Administrative Agent); provided, however, that notwithstanding any provision in any Mortgage or any other Loan Documents to the contrary, in no event is any Building (as defined in the applicable Flood Insurance Regulations) or Manufactured (Mobile) Home (as defined in the applicable Flood Insurance Regulations) owned by any Borrower included as Property encumbered by any Mortgage or any other Security Instrument; provided, further, that (A) the applicable Borrower’s interests in all lands and Hydrocarbon Interests situated under any such Building or Manufactured (Mobile) Home shall be included as Property encumbered by all applicable Mortgages and other Security Instruments, and (B) the Borrowers shall not, and shall not permit any of its Subsidiaries to, permit to exist any Lien on any such Building or Manufactured (Mobile) Home, except Permitted Encumbrances;

(ii) all documents, if any, required by the applicable jurisdictions for filing in connection with the recording of any such Oil and Gas Properties Mortgage(s);

(iii) all title information and materials respecting the Oil and Gas Properties that will be encumbered by such Mortgage(s). Borrowers shall at all times, promptly following Administrative Agent’s request, provide Administrative Agent access to all title opinions, assurances or such other reasonable title information and data requested by and/or reasonably

acceptable to Administrative Agent to the extent related to the Oil and Gas Properties and covering enough of the Oil and Gas Properties so that the Administrative Agent shall have received together with title information previously delivered to the Administrative Agent, satisfactory title information on at least 85% of the PDP PW8 total value of the Oil and Gas Properties evaluated in the most recently completed reserve report or engineering report (as applicable). Without limitation of any of the foregoing, but in furtherance thereof, a correct, complete and accurate schedule of the Oil and Gas Properties that will be encumbered by such Mortgage(s) is attached to and incorporated into this Fourth Amendment as Exhibit A hereto; and

(iv) until such time as the Superior Release Effective Date, if any, shall have occurred in accordance with the Fourth Amendment, the Pledge Agreement which shall provide the Administrative Agent (on behalf of the Lenders) a first-priority Lien interest in all of the Equity Interests of Superior Pipeline Company, L.L.C.

(b) Subject to clause (c) below, in connection with each redetermination of the Borrowing Base, the Administrative Agent shall review the reserve report or engineering report (as applicable) and the list of current mortgaged Oil and Gas Properties to ascertain and determine (in accordance with Administrative Agent’s then-current practices, economic and pricing parameters, methodology, assumptions, and prudent oil and gas banking industry standards established by Administrative Agent from time to time for its petroleum industry customers) whether the mortgaged Oil and Gas Properties represent at least 85% of the PDP PW8 total value of the Oil and Gas Properties evaluated in the most recently completed reserve report or engineering report (as applicable). In the event that the mortgaged Oil and Gas Properties do not represent at least 85% of such PDP PW8 total value, then the Borrowers shall, and, if necessary, shall cause the Subsidiaries or any such other Persons to, grant to the Administrative Agent, within thirty (30) days after written request from Administrative Agent as security for the Obligations a first-priority Lien (subject only to Permitted Encumbrances) interest on additional Oil and Gas Properties of the Credit Parties not already subject to a Lien of the Security Instruments such that after giving effect thereto, the mortgaged Oil and Gas Properties will represent at least 85% of such PDP PW8 total value. All such Liens will be created and perfected by and in accordance with the provisions of Mortgages 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.

(c) Notwithstanding the foregoing, the Credit Parties’ obligations under this Section 6.11 shall not apply during any period in which Unit is in compliance with the Ratings Requirement. Borrowers’ shall have the right to request Administrative Agent, at Borrowers’ sole cost and expense, to release

and/or terminate any Security Instrument outstanding during any period in which Borrowers are in compliance with the Ratings Requirement and, so long as no Event of Default exists and Borrowers are in compliance with the Ratings Requirement as of the date of such request and as of the effective date of such release and/or termination, Administrative Agent shall record and/or file such termination or otherwise cause such release to occur, provided, in the event at any time from and after such release and/or termination, Borrowers’ fail to satisfy (or remain in compliance with) the Ratings Requirement, Borrowers shall, within thirty (30) days after notice thereof, execute and deliver (or cause to be executed and delivered) all such Security Instruments as are required under clauses (a) and (b) above as security for the Obligations. The rights granted the Credit Parties under this section will be available from time to time to the extent Unit satisfies the Ratings Requirement.

(d) Any material failure by Borrowers or any other Credit Party or Person to timely perform and comply with the covenants and requirements as set forth in this Section 6.11 shall constitute an Event of Default under Section 10.1 of this Agreement, provided, for purposes hereof, any failure by any Borrower, other Credit Party or other Person to provide all information and materials respecting the Oil and Gas Properties that will be encumbered by such Mortgage(s) (including, without limitation, legal descriptions) or other information necessary for Administrative Agent to properly record the Mortgage(s) within 60 days following the Fourth Amendment Effective Date (as such 60 days may be extended by Administrative Agent in its sole discretion) shall constitute a material failure under this Agreement.     

ARTICLE 7

NEGATIVE COVENANTS

During the term of this Agreement, unless the Required Lenders will otherwise consent in writing:

7.1     Dividends . The Borrowers will not, nor will they permit any other Credit Party to, declare or pay any dividends or make any distributions on its capital stock (other than dividends payable in their own capital stock) or redeem, repurchase or otherwise acquire or retire any of its capital stock at any time outstanding, including within the scope of such prohibition, any such dividends or distributions of whatever kind or type, contemplated above to any Existing Subordinated Note Indenture Additional Parties; provided, however, if (a) no Default, Event of Default or Deficiency has occurred and continues in effect or remains uncured or will result from or be caused by such dividend or distribution, and (b) Unit is in compliance with the limitations of Section 3.04 of the Existing Subordinated Notes Indenture and such dividend, distribution, redemption, repurchase or other acquisition or retirement of capital stock, together with other Restricted Payments (as that term is defined in the Existing Subordinated Notes Indenture) does not cause or result in a breach of Section 3.04 of the Existing Subordinated Notes Indenture, (i) any Subsidiary may declare and pay dividends or make distributions to, or redeem, purchase or otherwise acquire or retire any of its capital stock from, Unit or any Subsidiary (other than and

expressly excluding the Existing Subordinated Note Indenture Additional Parties), so long as such Subsidiary is not a Wholly-Owned Subsidiary, if the dividend, distribution, redemption, purchase, acquisition or retirement, as the case may be, is made on a pro rata basis (or with respect to Unit or its Subsidiaries, better than a pro rata basis), (ii) during any fiscal year Unit may pay cash dividends in amounts not exceeding thirty (30%) of its Consolidated Net Income (after taxes) for the preceding fiscal year, (iii) Unit may make any purchases of its outstanding common stock under a stock repurchase program approved by the Unit Board of Directors and conducted in compliance with the applicable rules and regulations of the SEC, and (iv) Unit may declare and pay dividends with respect to its capital stock payable solely in additional shares of its capital stock (other than Disqualified Stock as that term is defined in the Existing Subordinated Notes Indenture).

7.2     Indebtedness . The Borrowers will not, nor will they permit any Subsidiary to, create, incur or suffer to exist any Indebtedness, except:

the time of incurring such subordinated Indebtedness (A) no Default, Event of Default or Deficiency has occurred and is then continuing and (B) no Default, Event of Default

or Deficiency would result from the incurrence of any such subordinated Indebtedness after giving effect to the incurrence of such Indebtedness (and any concurrent repayment of Indebtedness with the proceeds of such incurrence), (ii) no subordinated Indebtedness has any scheduled amortization prior to six (6) months after the Facility Termination Date; (iii) no subordinated Indebtedness matures sooner than six (6) months after the Facility Termination Date; (iv) the other material terms of all such subordinated Indebtedness are not generally more restrictive, taken as a whole, than the terms of this Agreement and the other Loan Documents or the Existing Subordinated Notes; and (v) the Borrowing Base is adjusted as contemplated by Section 2.6.8 and the Borrowers make any prepayment required under Section 2.8.2;

7.3     Limitation on Fundamental Changes . Borrowers will not enter into (nor permit any other Credit Party to enter into) any merger, consolidation or amalgamation, or liquidate, wind up or dissolve itself (or suffer any liquidation or dissolution), or convey, sell, lease, assign, transfer or otherwise dispose of all or substantially all of its property, businesses and assets, or make any material change in its present method of conducting business, except:

Subsidiary Guarantor so long as the Borrower or Subsidiary Guarantor, as applicable, is the continuing or surviving business entity or other entity.

7.4     Sale of Property . The Borrowers will not (nor will they permit any other Credit Party to) lease, sell or otherwise dispose of its Property to any other Person, except:

Borrowing Base attributable to the sum of the Properties so disposed plus unwound commodity hedge contracts and, further, provided, that any resulting Deficiency (as defined in Section 2.6.7) must be cured by the Borrowers in compliance with Section 2.8.2;

7.5     Investments and Acquisitions . The Borrowers will not (nor will they permit any other Credit Party to) make or suffer to exist any Investments, or to make any Acquisition of any Person, except:

 

consideration any such Acquisition, the Credit Parties are in compliance with Article 8 hereof; and

7.6     Liens . The Borrowers will not (nor will they permit any other Credit Party to) create, incur, or suffer to exist any Lien in, of or on the Property of the Credit Parties or any of their Subsidiaries, except:

 

secure only, the respective Capital Lease Obligations or purchase money obligations;