Covey Park Announces Proposed $150 Million Private Offering of Additional Senior Unsecured Notes Due 2025

Covey Park Energy LLC (“Covey Park”) and its wholly owned subsidiary, Covey Park Finance Corp., announced today that, subject to market and other conditions, they intend to offer for sale in a private placement under Rule 144A and Regulation S of the Securities Act of 1933, as amended (the “Securities Act”), to eligible purchasers an additional $150 million in aggregate principal amount of their 7.50% senior notes due 2025 (the “New Notes”). On May 3, 2017, Covey Park and Covey Park 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 identical terms as the Initial Notes, and the New Notes and the Initial Notes will be treated as a single class of securities under the indenture governing the Notes.

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

The New Notes are being offered only to qualified institutional buyers in the United States in reliance on Rule 144A under the Securities Act and to certain persons outside of the United States pursuant to Regulation S under the Securities Act. The Notes to be offered have not been registered under the Securities Act or any state securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements of the Securities Act and applicable securities laws.

This press release does not constitute an offer to sell or a solicitation of an offer to buy such Notes nor shall it constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale is unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

About Covey Park Energy

Covey Park Energy 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.

Cautionary Statement Concerning Forward-Looking Statements

Certain statements contained in this press release constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements represent Covey Park’s expectations or beliefs concerning future events, and it is possible that the results described in this press release will not be achieved. These forward-looking statements are subject to risks, uncertainties and other factors, many of which are outside of Covey Park’s control, that could cause actual results to differ materially from the results discussed in the forward-looking statements.

Any forward-looking statement speaks only as of the date on which it is made, and, except as required by law, Covey Park does not undertake any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. New factors emerge from time to time, and it is not possible for Covey Park to predict all such factors.

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