Dallas-based Covey Park, an oil and gas exploration and production company, has acquired additional assets in the Haynesville/Bossier shale areas of East Texas and North Louisiana. No financial terms were disclosed. Covey Park is backed by Denham Capital.
DALLAS–(BUSINESS WIRE)–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.
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.