Sec Form 4 Filing - Blackstone / GSO Capital Solutions Fund LP @ SARATOGA RESOURCES INC /TX - 2022-12-13

FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person Blackstone / GSO Capital Solutions Fund LP 2. Issuer Name and Ticker or Trading Symbol SARATOGA RESOURCES INC /TX [ SARA] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director X __ 10% Owner _____ Officer (give title below) _____ Other (specify below) (Last) (First) (Middle) C/O BLACKSTONE ALTERNATIVE CREDIT, ADVISORS LP, 345 PARK AVENUE 3. Date of Earliest Transaction (MM/DD/YY) 12/13/2022 (Street) NEW YORK, NY10154 4. If Amendment, Date Original Filed (MM/DD/YY) 6. Individual or Joint/Group Filing (Check Applicable Line) _____ Form filed by One Reporting Person __ X __ Form filed by More than One Reporting Person (City) (State) (Zip)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned 1.Title of Security (Instr. 3) 2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price Common Stock 12/13/2022 J( 1 ) 4,800,000 D $ 0 0 I See Footnotes( 1 )( 2 )

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities) 1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5) 6. Date Exercisable and Expiration Date (MM/DD/YY) 7. Title and Amount of Underlying Securities (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4) Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares

Reporting Owners Reporting Owner Name / Address Relationships Director 10% Owner Officer Oth er Blackstone / GSO Capital Solutions Fund LP C/O BLACKSTONE ALTERNATIVE CREDIT ADVISORS LP, 345 PARK AVENUE NEW YORK, NY10154 X Blackstone / GSO Capital Solutions Associates LLC C/O GSO CAPITAL PARTNERS LP 345 PARK AVENUE, 31ST FLOOR NEW YORK, NY10154 X Blackstone / GSO Capital Solutions Overseas Master Fund L.P. C/O GSO CAPITAL PARTNERS L.P. 345 PARK AVENUE, 31ST FLOOR NEW YORK, NY10154 X Blackstone / GSO Capital Solutions Overseas Associates LLC C/O GSO CAPITAL PARTNERS LP 345 PARK AVENUE, 31ST FLOOR NEW YORK, NY10154 X GSO Holdings I LLC C/O BLACKSTONE ALTERNATIVE CREDIT ADVISORS LP, 345 PARK AVENUE NEW YORK, NY10154 X Blackstone Holdings I L.P. C/O BLACKSTONE INC. 345 PARK AVENUE NEW YORK, NY10154 X Blackstone Holdings I/II GP L.L.C. C/O BLACKSTONE INC. 345 PARK AVENUE NEW YORK, NY10154 X Blackstone Inc. 345 PARK AVENUE NEW YORK, NY10154 X Blackstone Group Management L.L.C. C/O BLACKSTONE INC. 345 PARK AVENUE NEW YORK, NY10154 X SCHWARZMAN STEPHEN A C/O BLACKSTONE INC. 345 PARK AVENUE NEW YORK, NY10154 X Signatures Blackstone / GSO Capital Solutions Fund LP By: Blackstone / GSO Capital Solutions Associates, LLC, its general partner By: /s/ Marisa J. Beeney, Name: Marisa J. Beeney, Title: Authorized Signatory 12/14/2022 Signature of Reporting Person Date Blackstone / GSO Capital Solutions Associates LLC By: /s/ Marisa J. Beeney, Name: Marisa J. Beeney, Title: Authorized Signatory 12/14/2022 Signature of Reporting Person Date Blackstone / GSO Capital Solutions Overseas Master Fund L.P. By: Blackstone / GSO Capital Solutions Overseas Associates LLC, its general partner By: /s/ Marisa J. Beeney, Name: Marisa J. Beeney, Title: Authorized Signatory 12/14/2022 Signature of Reporting Person Date Blackstone / GSO Capital Solutions Overseas Associates LLC By: /s/ Marisa J. Beeney, Name: Marisa J. Beeney, Title: Authorized Signatory 12/14/2022 Signature of Reporting Person Date GSO Holdings I L.L.C. By: /s/ Marisa J. Beeney, Name: Marisa J. Beeney, Authorized Signatory 12/14/2022 Signature of Reporting Person Date Blackstone Holdings I L.P. By: Blackstone Holdings I/II GP L.L.C.., its general partner By: /s/ Tabea Hsi, Name: Tabea Hsi, Title: Senior Managing Director 12/14/2022 Signature of Reporting Person Date Blackstone Holdings I/II GP L.L.C.. By: /s/ Tabea Hsi, Name: Tabea Hsi, Title: Senior Managing Director 12/14/2022 Signature of Reporting Person Date Blackstone Inc. By: /s/ Tabea Hsi, Name: Tabea Hsi, Title: Senior Managing Director 12/14/2022 Signature of Reporting Person Date Blackstone Group Management L.L.C. By: /s/ Tabea Hsi, Name: Tabea Hsi, Title: Senior Managing Director 12/14/2022 Signature of Reporting Person Date /s/ Stephen A. Schwarzman 12/14/2022 Signature of Reporting Person Date

Explanation of Responses:

( 1 )On December 13, 2022, Blackstone/GSO Capital Solutions Fund LP and Blackstone/GSO Capital Solutions Overseas Master Fund L.P. transferred 3,578,781 and 1,221,219 shares of Common Stock, respectively, to the Issuer for no consideration. ( 2 )Blackstone / GSO Capital Solutions Associates LLC is the general partner of Blackstone / GSO Capital Solutions Fund LP. Blackstone / GSO Capital Solutions Overseas Associates LLC is the general partner of Blackstone / GSO Capital Solutions Overseas Master Fund L.P. GSO Holdings I L.L.C. is the managing member of each of Blackstone / GSO Capital Solutions Associates LLC and Blackstone / GSO Capital Solutions Overseas Associates LLC. Blackstone Holdings I L.P. is a managing member of GSO Holdings I L.L.C. and the sole member of GSO Advisor Holdings L.L.C. Blackstone Holdings I/II GP L.L.C. is the general partner of Blackstone Holdings I L.P. Blackstone Inc. is the sole member of Blackstone Holdings I/II GP L.L.C. The sole holder of the Series II preferred stock of Blackstone Inc. is Blackstone Group Management L.L.C. Blackstone Group Management L.L.C. is wholly-owned by Blackstone's senior managing directors and controlled by its founder, Stephen A. Schwarzman.

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