Covey Park Gas LLC, Dallas, has agreed to acquire acreage and natural gas production in the Haynesville and Bossier shales of Louisiana from subsidiaries of EP Energy Corp., Houston, for $420 million.
Covey Park Gas is a wholly owned subsidiary of Covey Park Energy LLC.
The deal covers 52,933 gross (34,167 net) acres with production in the fourth quarter of 2015 of 113 MMcfd of natural gas.
It will boost Covey Park’s leaseholdings to 137,000 net acres in Texas and Louisiana, net production to 200 MMcfd of gas, and proved reserves to 2 tcf.