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Covey Park Energy LLC Announces Pricing of Private Offering of Senior Unsecured Notes


Covey Park Energy LLC (“Covey Park” or the “Company”) priced its previously announced private offering of senior unsecured notes due in 2025 (the “Notes Offering”). The senior unsecured notes will bear interest at 7.50% per annum. Covey Park intends to use the net proceeds of the Notes Offering to repay all outstanding indebtedness under, and retire, its bridge term loan facility and to repay a portion of the outstanding borrowings under its revolving credit facility.

The closing of the Notes Offering, which is subject to customary conditions, is expected to occur on May 3, 2017. The senior unsecured notes offered by Covey Park will not be registered under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”), and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. The senior notes were offered only to qualified institutional buyers in the United States under Rule 144A and to non-U.S. persons outside the United States in compliance with Regulation S under the U.S. Securities Act.

This news release does not constitute an offer to sell, or a solicitation of an offer to buy, any security and shall not constitute an offer, solicitation or sale in any jurisdiction in which such an offer, solicitation, or sale would be unlawful.

Forward-Looking Statements

Certain statements in this press release are forward-looking statements. All statements, other than statements of historical fact, included in this press release that address activities, events or developments that Covey Park expects, believes or anticipates will or may occur in the future are forward-looking statements. These statements are based on certain assumptions made by Covey Park based on its experience and perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. All forward-looking statements are qualified in their entirety by this cautionary statement. Covey Park undertakes no obligation and does not intend to update these forward-looking statements to reflect events or circumstances occurring after this press release.

About Covey Park Energy LLC

Covey Park is an independent oil and gas exploration and production company headquartered in Dallas, Texas. The company 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.

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.

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