Covey Park Acquires Additional Haynesville Assets from Chesapeake Energy for $465 million

Source: www.gulfoilandgas.com 2/16/2017, Location: North America

Covey Park Energy, a Dallas, Texas-based independent oil and gas exploration and production company, has announced the closing of the acquisition of additional assets located in the Haynesville shale area of North Louisiana from Chesapeake Exploration 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. Wells Fargo acted as financial advisor to Covey Park.


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Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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