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Full title: Stipulation and Agreed Order, Signed on 6/7/2021 (Related document(s):307 Amended Chapter 11 Plan) (TylerLaws) (Entered: 06/07/2021)

Document posted on Jun 6, 2021 in the bankruptcy, 4 pages and 0 tables.

Bankrupt11 Summary (Automatically Generated)

Castex Energy 2005 Holdco, LLC and its related debtor affiliates (the “Debtors”) and U.S. Specialty Insurance Company (“USSIC” and together with the Debtors, the “Parties”), by and through their respective counsel or representatives, hereby enter into this Stipulation and Agreed Order (the “Stipulation and Agreed Order”): WHEREAS, on February 26, 2021, (the “Petition Date”), the Debtors filed voluntary petitions for relief (the “Chapter 11 Cases”) under chapter 11 of the Bankruptcy Code in the United States Bankruptcy Court for the Southern District of Texas, Houston Division (the “Court”).The Debtors in these chapter 11 cases, along with the last four digits of each Debtor’s federal tax identification number, as applicable, are: Castex Energy 2005 Holdco, LLC (6832); Castex Energy 2005, LLC (6832); Castex Energy Partners, LLC (6832); and Castex Offshore, Inc. (8432).WHEREAS, on May 20, 2021, USSIC timely submitted its Unsecured Ballot (Class 4), Ballot ID: 2473000122 (the “Ballot”), voting to (i) reject the Plan and (ii) reject the release provisions contained in Article VII of the Plan.WHEREAS, pursuant to the agreement between the Parties, by this Stipulation and Agreed Order USSIC shall withdraw the portion of the Ballot voting against the Plan.This Stipulation and Agreed Order shall be binding on the Parties, the Parties’ successors, agents, and assigns (including bankruptcy trustees and estate representatives), and any parent, subsidiary, or affiliated entity of the Parties.

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IN THE UNITED STATES BANKRUPTCY COURT FOR THE SOUTHERN DISTRICT OF TEXAS HOUSTON DIVISION ENTERED 06/07/2021 IN RE: § § Case No. 21-30710 CASTEX ENERGY 2005 HOLDCO, § LLC, et al., § Chapter 11 § Debtors.1 § (Jointly Administered) STIPULATION AND AGREED ORDER Castex Energy 2005 Holdco, LLC and its related debtor affiliates (the “Debtors”) and U.S. Specialty Insurance Company (“USSIC” and together with the Debtors, the “Parties”), by and through their respective counsel or representatives, hereby enter into this Stipulation and Agreed Order (the “Stipulation and Agreed Order”): WHEREAS, on February 26, 2021, (the “Petition Date”), the Debtors filed voluntary petitions for relief (the “Chapter 11 Cases”) under chapter 11 of the Bankruptcy Code in the United States Bankruptcy Court for the Southern District of Texas, Houston Division (the “Court”). WHEREAS, on April 22, 2021, the Debtors filed their Second Amended Joint Chapter 11 Plan [Docket No. 205], and Second Amended Disclosure Statement in Support of Joint Chapter 11 Plan [Docket No. 206]. WHEREAS, on April 26, 2021, the Court entered the Order Conditionally Approving (I) Adequacy of the Disclosure Statement; (II) Form of Solicitation Materials; and (III) Procedures for Soliciting and Voting on the Joint Chapter 11 Plan [Docket No. 214] (the “Disclosure 1 The Debtors in these chapter 11 cases, along with the last four digits of each Debtor’s federal tax identification number, as applicable, are: Castex Energy 2005 Holdco, LLC (6832); Castex Energy 2005, LLC (6832); Castex Energy Partners, LLC (6832); and Castex Offshore, Inc. (8432). The Debtors’ mailing address is One Memorial City Plaza, 800 Gessner Rd., Suite 925, Houston, Texas 77024. 1

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Statement Approval Order”), which among other provisions: fixed May 20, 2021 as the deadline for submitting a vote to accept or reject the Plan and to accept or reject the release provisions contained in Article VII of the Plan. WHEREAS, on May 20, 2021, USSIC timely submitted its Unsecured Ballot (Class 4), Ballot ID: 2473000122 (the “Ballot”), voting to (i) reject the Plan and (ii) reject the release provisions contained in Article VII of the Plan. WHEREAS, on June 3, 2021, the Debtors filed their Fourth Amended Joint Chapter 11 Plan [Docket No. 307] (the “Plan”). WHEREAS, on June 3, 2021, the Debtors filed their proposed Order Confirming Fourth Amended Joint Chapter 11 Plan [Docket No. 308]. WHEREAS, the Parties have been in discussion regarding the Plan and USSIC’s Ballot. WHEREAS, as a result of discussions between the Parties, the Parties have reached an agreement regarding USSIC’s Ballot. WHEREAS, pursuant to the agreement between the Parties, by this Stipulation and Agreed Order USSIC shall withdraw the portion of the Ballot voting against the Plan. WHEREAS, the Parties further agree that USSIC’s withdrawal of the portion of the Ballot voting against the Plan shall not be construed as a vote in favor of the Plan. WHEREAS, the Parties further agree that the portion of USSIC’s Ballot rejecting (opting out of) the release provisions contained in Article VII of the Plan shall remain timely filed, valid, binding and effective. WHEREAS, the Parties further agree that notwithstanding the provisions of this Stipulation and Agreed Order, nothing herein shall alter or amend the provisions contained in the Plan and Confirmation Order. 2

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NOW, THEREFORE, IT IS HEREBY STIPULATED AND AGREED by and between the Parties, which agreement, when “so-ordered” by the Court, shall constitute an order of the Court as follows: 1. USSIC hereby withdraws the portion of its Ballot voting to reject the Plan. 2. USSIC’s withdrawal of the portion of the Ballot voting against the Plan is not a vote in favor of the Plan. 3. The portion of USSIC’s Ballot rejecting (opting out of) the release provisions contained in Article VII of the Plan remains timely filed, valid, binding and effective. 4. Notwithstanding the provisions of this Stipulation and Agreed Order, nothing herein shall alter or amend the provisions contained in the Plan and Confirmation Order. 5. Donlin, Recano & Company, Inc., as the Debtors’ Claims, Noticing and Solicitation Agent, and the Clerk of the Court is authorized to take all necessary actions to effectuate the relief granted in this Stipulation and Agreed Order. 6. This Stipulation and Agreed Order shall be binding on the Parties, the Parties’ successors, agents, and assigns (including bankruptcy trustees and estate representatives), and any parent, subsidiary, or affiliated entity of the Parties. 7. This Stipulation and Agreed Order may be executed in identical counterparts including facsimile and/or electronic mail, each of which shall be deemed an original, but all of which together constitute one and the same instrument. 8. This Court shall retain jurisdiction over any and all matter arising from the interpretation or implementation of this Stipulation and Agreed Order. Dated: , 2021 SHigonuesdto: nJO,u Tncteeo x0ba7es,r 21072, 12018 Mar vin Isgur Uni ted States Bankruptcy Judge ____________________________________ Marvin Isgur 3

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STIPULATED AND AGREED TO THIS 4TH DAY OF JUNE, 2021 OKIN ADAMS LLP /s/ Matthew S. Okin /s/ Simon R. Mayer Matthew S. Okin Philip G. Eisenberg Texas Bar No. 00784695 Texas Bar Number 24033923 Email: mokin@okinadams.com Simon R. Mayer David L. Curry, Jr. Texas Bar Number 24060243 Texas Bar No. 24065107 Locke Lord LLP Email: dcurry@okinadams.com 600 Travis Street, Suite 2800 Ryan A. O’Connor Houston, TX 77002 Texas Bar No. 24098190 Telephone: 713-226-1200 Email: roconnor@okinadams.com Facsimile: 713-226-3717 1113 Vine St., Suite 240 Email: peisenberg@lockelord.com Houston, TX 77002 Email: simon.mayer@lockelord.com Tel: (713) 228-4100 Fax: (888) 865-2118 Attorneys for U.S. Specialty Insurance Company Attorneys for Debtors 4

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