Covey Park Announces Proposed $450 Million Private Offering of 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 $450 million in
aggregate principal amount of senior unsecured notes due 2025 (the
“Notes”).

Covey Park intends to use the net proceeds from the offering to repay in
full and terminate its term loan facility and repay a portion of amounts
outstanding under its revolving credit facility.

The 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 $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.

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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