Dallas-based independent Covey Park Energy LLC has added about 90,000 net acres prospective for the Haynesville Shale and Bossier Sands. The transaction, for an undisclosed amount, includes assets with average output of 35 MMcf/d net. The leasehold primarily is in the Texas counties of Panola, Nacogdoches and San Augustine, and in Louisiana’s DeSoto, Bossier and Sabine parishes. The acquisition, from an undisclosed seller, gives the Denham Capital-backed operator about 218,000 net acres across the natural gas-rich region. In October 2014 Covey Park acquired 89,462 net acres from Encana Oil and Gas (USA) Inc. and Navasota Resources LLP. It added 34,000 net acres earlier this year in a $420 million transaction with EP Energy Corp. (see Shale Daily, March 21). During the fourth quarter, Covey Park expects production to average about 325 MMcf/d net. Total proved reserves with the acquisition are estimated to be more than 2.5 Tcf.
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