Covey Park Energy Acquires Additional Haynesville Assets from Chesapeake Energy for $465 Million
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Covey Park Energy LLC has acquired additional assets located in the Haynesville shale area of North Louisiana from Chesapeake Exploration, LLC and related companies 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.
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.
To stop by Covey Park Energy’s website, CLICK HERE
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