One-Page Deal Sheet
Comstock to Acquire Covey Park for $2.2B; Become Top Haynesville E&P
Comstock Resources Inc. Covey Park Energy LLC
Announced Date
June 10,2019
Close Date
July 16,2019
Transaction Type
Corporate
Enterprise Value (EV)($MM)
2200
Asset/Basin:
{Haynesville,Bossier}
TargetZones:
{"Haynesville Shale"
Net Acres
Net Operated Locations:
Proved Reserves
EbitDAX : Ebitdax_multple
Location
Calculated Metrics( EV/Category)
Region
Ark-La-Tex
Country
United States
State
Texas
County
Robertson ,Panola ,Harrison ,Nacogdoches ,San Augustine
Play
Production & Reserves Production
Production Mix
Reserves
Calculated Metrics( EV/Category)
$/ Flowing
$/ Acre
$/Location
Production ($/Mcfe/d)
Transaction Details: Require Private Equity Subscription
Comstock Resources, Inc. has inked a deal to acquire Covey Park Energy LLC in a cash and stock transaction valued at approximately $2.2 billion, including the assumption of Covey Park's outstanding debt and the retirement of Covey Park's existing preferred units which in the aggregate total approximately $1.1 billion.
This deal will make Comstock the top player in the Haynesville play.
This deal closed on July 16, 2019.
Pro Forma Assets: Over 1.1 Bcfe/day of net production, approximately 374,000 net acres and 5.4 Tcfe of SEC proved reserves and 7.6 Tcfe SPE proved reserves 293,000 net…Ark-La-Tex Deal Activity In Last 12 Months
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