Covey Park Energy to Pursue Ark-La-Tex, Permian and Mid-Continent Opportunities Following Commitment from Denham Capital
Dallas – (April 1, 2014) – Covey Park Energy (CPE) announced today that it has secured an equity commitment from energy and resources-focused global private equity firm Denham Capital. The newly-formed, Dallas-based exploration and production company is primarily focused on the acquisition and exploitation of long-life reserves in the Ark-La-Tex, Permian and Mid-Continent regions.
CPE is managed by Co-Chief Executive Officers John D. Jacobi and Alan Levande. Jacobi is an accomplished oil and gas entrepreneur who has worked in the Ark-La-Tex regions for more than 20 years and served on the boards of three exploration and production ventures previously. Levande has enjoyed entrepreneurial success in private equity and worked for a decade with Goldman Sachs as Managing Director of Investment Banking in the company’s Natural Resources Group.
Together they will lead a 12-person team which has collectively completed more than $10 billion worth of acquisitions and divestures. The duo will drive efforts to add value to acquisitions through low-risk development opportunities, optimized operations and ongoing technological advances. CPE will evaluate transactions ranging from $20 million to $2 billion, and will also consider other attractive onshore opportunities throughout the continental U.S.
About Covey Park Energy
Covey Park Energy (CPE) is a private oil and gas exploration and production company headquartered in Dallas, Texas. CPE is primarily focused on the acquisition and exploitation of long-life reserves in the Ark-La-Tex, Permian and Mid-Continent regions. For more information about CPE, visit www.coveypark.com.
About Denham Capital
Denham Capital is a leading energy and resources-focused global private equity firm. With over $7.9 billion of invested and committed capital, Denham makes direct investments in the energy and resources sectors, including businesses involving oil and gas, metals and minerals, and power and renewables. With offices in Boston, Houston, London, São Paulo and Perth, Denham invests across the globe. Denham invests across all stages of the corporate lifecycle, from exploration and development projects to mature, operating businesses, and all segments of the capital structure. For more information about Denham Capital, visit www.denhamcapital.com.