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COVEY PARK ANNOUNCES ACQUISITION OF ADDITIONAL HAYNESVILLE ASSETS FROM CHESAPEAKE ENERGY
FOR $465 MILLION

Dallas, February 15, 2017 – Covey Park Energy LLC  (“Covey Park”), a Dallas, Texas-based independent oil and gas exploration and production company, announced today the closing of the acquisition of additional assets located in the Haynesville shale area of North Louisiana from Chesapeake Exploration, LLC and related companies (“Chesapeake”) for $465 million.

Covey Park funded a portion of the Chesapeake acquisition with additional equity investments from its existing investor Denham Capital, as well as incremental debt commitments from its core lender group. To fund the balance of the acquisition and to support growth initiatives, Covey Park issued preferred equity to Magnetar Capital, KKR (through the Energy Income & Growth Fund) and Triangle Peak Partners.  Wells Fargo acted as financial advisor to Covey Park.

About Covey Park Energy

Covey Park Energy is an independent oil and gas exploration and production company headquartered in Dallas, Texas. The company is primarily focused on the acquisition and exploitation of long-life reserves in the Ark-La-Tex region and is currently one of the largest acreage holders and producers in the Haynesville/Bossier shales.  Covey Park was formed in June 2013 with an equity commitment from Denham Capital. For more information about the company, visit www.coveypark.com.

About Denham Capital

Denham Capital is a leading energy-focused global private equity firm with more than $8.4 billion of invested and committed capital across eight fund vehicles. The firm makes direct investments across all stages of the corporate lifecycle. Denham’s investment professionals apply deep operational and industry experience and work in partnership with management teams to achieve long-term investment objectives. For more information about Denham Capital, visit www.denhamcapital.com.

 

Covey Park Announces Acquisition of Additional Haynesville and Bossier Assets

Dallas, November 2, 2016 – Affiliates of Covey Park Energy LLC, a Dallas, Texas-based independent oil and gas exploration and production company, (“Covey Park”), announced today the acquisition of additional assets located in the Haynesville/Bossier shale areas of East Texas and North Louisiana.

The assets are located primarily in Panola, Nacogdoches and San Augustine counties in Texas, and DeSoto, Bossier, and Sabine Parishes in Louisiana, and consist of approximately 139,000 gross and 90,000 net acres with average net production of 35 mmcf/day.

As one of the largest acreage holders and producers in the Haynesville/Bossier shales, Covey Park now owns approximately 321,000 gross and 218,000 net acres of leasehold in Texas and Louisiana, with daily net production of approximately 325mmcf/day expected for 4Q2016, and total proved reserves in excess of 2.5 TCF.

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About Covey Park Energy

Covey Park Energy is an independent oil and gas exploration and production company headquartered in Dallas, Texas. The company is primarily focused on the acquisition and exploitation of long-life reserves in the Ark-La-Tex region. Covey Park was formed in June 2013 with an equity commitment from Denham Capital. For more information about the company, visit www.coveypark.com.

 

About Denham Capital

Denham Capital is a leading energy-focused global private equity firm with more than $8.4 billion of invested and committed capital across eight fund vehicles. The firm makes direct investments across all stages of the corporate lifecycle. Denham’s investment professionals apply deep operational and industry experience and work in partnership with management teams to achieve long-term investment objectives. For more information about Denham Capital, visit www.denhamcapital.com.

vCovey Park Announces Acquisition of Additional Haynesville and Bossier Assets

Dallas, November 2, 2016 – Affiliates of Covey Park Energy LLC, a Dallas, Texas-based independent oil and gas exploration and production company, (“Covey Park”), announced today the acquisition of additional assets located in the Haynesville/Bossier shale areas of East Texas and North Louisiana.

The assets are located primarily in Panola, Nacogdoches and San Augustine counties in Texas, and DeSoto, Bossier, and Sabine Parishes in Louisiana, and consist of approximately 139,000 gross and 90,000 net acres with average net production of 35 mmcf/day.

As one of the largest acreage holders and producers in the Haynesville/Bossier shales, Covey Park now owns approximately 321,000 gross and 218,000 net acres of leasehold in Texas and Louisiana, with daily net production of approximately 325mmcf/day expected for 4Q2016, and total proved reserves in excess of 2.5 TCF.

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About Covey Park Energy

Covey Park Energy is an independent oil and gas exploration and production company headquartered in Dallas, Texas. The company is primarily focused on the acquisition and exploitation of long-life reserves in the Ark-La-Tex region. Covey Park was formed in June 2013 with an equity commitment from Denham Capital. For more information about the company, visit www.coveypark.com.

 

About Denham Capital

Denham Capital is a leading energy-focused global private equity firm with more than $8.4 billion of invested and committed capital across eight fund vehicles. The firm makes direct investments across all stages of the corporate lifecycle. Denham’s investment professionals apply deep operational and industry experience and work in partnership with management teams to achieve long-term investment objectives. For more information about Denham Capital, visit www.denhamcapital.com.

Covey Park Energy to Pursue Ark-La-Tex, Permian and Mid-Continent Opportunities Following Commitment from Denham Capital

04/01/14

Dallas – (April 1, 2014) – Covey Park Energy (CPE) announced today that it has secured an equity commitment from energy and resources-focused global private equity firm Denham Capital. The newly-formed, Dallas-based exploration and production company is primarily focused on the acquisition and exploitation of long-life reserves in the Ark-La-Tex, Permian and Mid-Continent regions.

 CPE is managed by Co-Chief Executive Officers John D. Jacobi and Alan Levande. Jacobi is an accomplished oil and gas entrepreneur who has worked in the Ark-La-Tex regions for more than 20 years and served on the boards of three exploration and production ventures previously. Levande has enjoyed entrepreneurial success in private equity and worked for a decade with Goldman Sachs as Managing Director of Investment Banking in the company’s Natural Resources Group.

 Together they will lead a 12-person team which has collectively completed more than $10 billion worth of acquisitions and divestures. The duo will drive efforts to add value to acquisitions through low-risk development opportunities, optimized operations and ongoing technological advances. CPE will evaluate transactions ranging from $20 million to $2 billion, and will also consider other attractive onshore opportunities throughout the continental U.S.

 

About Covey Park Energy

Covey Park Energy (CPE) is a private oil and gas exploration and production company headquartered in Dallas, Texas. CPE is primarily focused on the acquisition and exploitation of long-life reserves in the Ark-La-Tex, Permian and Mid-Continent regions. For more information about CPE, visit www.coveypark.com.

 

About Denham Capital

Denham Capital is a leading energy and resources-focused global private equity firm. With over $7.9 billion of invested and committed capital, Denham makes direct investments in the energy and resources sectors, including businesses involving oil and gas, metals and minerals, and power and renewables. With offices in Boston, Houston, London, São Paulo and Perth, Denham invests across the globe. Denham invests across all stages of the corporate lifecycle, from exploration and development projects to mature, operating businesses, and all segments of the capital structure. For more information about Denham Capital, visit www.denhamcapital.com.

Covey Park Announces Acquisition of Haynesville and Bossier Assets

Dallas, March 23, 2016 – Covey Park Gas LLC, a subsidiary of Dallas, Texas-based independent oil and gas exploration and production company Covey Park Energy LLC (“Covey Park”), announced it has entered into a Purchase and Sale Agreement with subsidiaries of EP Energy Corporation (“EP Energy”) to purchase all of EP Energy’s assets located in the Haynesville and Bossier shales. The total consideration to be paid is $420,000,000, subject to customary adjustments for this type of transaction. The transaction is expected to close in the second quarter of 2016, subject to certain customary closing conditions.

The assets, primarily located in Louisiana’s DeSoto and Bossier Parishes, consist of approximately 52,933 gross 34,167 net acres with Q4 2015 average production of 113 mmcf/d.

Pro forma for the acquisition, Covey Park will own approximately 196,000 gross (137,000 net) acres of leasehold in Texas and Louisiana. Daily net production will increase to approximately 200mmcf/day. Total proved reserves will be approximately 2 TCF.

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About Covey Park Energy

Covey Park Energy is an independent oil and gas exploration and production company headquartered in Dallas, Texas. The company is primarily focused on the acquisition and exploitation of long-life reserves in the Ark-La-Tex and Mid-Continent regions. Covey Park was formed in June 2013 with an equity commitment from Denham Capital. For more information about the company, visit www.coveypark.com.

 

About Denham Capital

Denham Capital is a leading energy and resources-focused global private equity firm with more than $8.4billion of invested and committed capital across eight fund vehicles and offices in Houston, London, Boston, São Paulo and Perth. The firm makes direct investments in the energy and resources sectors, including businesses involving oil and gas, power generation and mining, across the globe and all stages of the corporate lifecycle. Denham’s investment professionals apply deep operational and industry experience and work in partnership with management teams to achieve long-term investment objectives. For more information about Denham Capital, visit www.denhamcapital.com.

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