Covey Park Energy Denham Capital

Covey Park Announces Pricing and Upsize of Private Offering of Additional Senior Unsecured Notes Due 2025

DALLAS–December 07, 2017–(BUSINESS WIRE)–Covey Park Energy LLC (“Covey Park”) and Covey Park’s wholly owned subsidiary, Covey Park Finance Corp., announced today the pricing of its previously announced private offering (the “Notes Offering”) of an additional $175 million in aggregate principal amount of their 7.50% senior notes due 2025 (the “New Notes”) at 104.25% of principal amount plus accrued interest. Covey Park upsized the offering amount from $150 million to $175 million in aggregate principal amount. The Notes Offering is expected to close on December 11, 2017 subject to customary closing conditions.

On May 3, 2017, Covey Park and Covey Park Energy Finance Corp. completed an offering of $450 million of their 7.50% senior notes due 2025 (the “Initial Notes” and, together with the New Notes, the “Notes”). The New Notes will have the same terms as the Initial Notes. The New Notes and the Initial Notes will be treated as a single class of securities under the indenture governing the Notes, and will mature on May 15, 2025.

Covey Park intends to use the net proceeds from the Notes Offering to repay borrowings under its revolving credit facility.

The 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 New 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.

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 $9.0 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.