Vine Oil & Gas LP and GEP Haynesville, LLC Announce Exchange of Haynesville Basin Assets

PLANO, Texas & THE WOODLANDS, Texas–(BUSINESS WIRE)–Vine Oil & Gas LP (“Vine”) and GEP Haynesville, LLC (“GEP”) exchanged
non-operated working interests in the majority of Vine and GEP’s joint
venture assets located in Red River, DeSoto and Sabine parishes in
Northwest Louisiana (the “Exchange”).

The Exchange unwinds a material portion of the joint venture area of
mutual interest and allocates to each party the entirety of the future
development.

Vine and GEP will continue to share joint ownership in approximately 50
producing wells that were brought online in 2015 and 2016, and which
were excluded from the Exchange.

Eric Marsh, Vine’s President and CEO, commented, “It was a privilege to
partner with GEP in the development of our joint Haynesville position
over the past two years. GEP is a quality operator and I am grateful for
the way our technical teams worked so well together in the pursuit of
our common interests. We look forward to continuing our relationship as
we remain vested in our jointly held wells.”

Margaret Molleston, GEP’s President and CEO, commented, “We have enjoyed
partnering with Vine in the implementation of enhanced completion
techniques that have delivered basin leading well results. The Exchange
is a mutually beneficial transaction that affords both companies the
ability to optimize acreage positions and future development
initiatives. We look forward to continuing our relationship and
collaboration with Vine in our mutual area of operations.”

Kirkland & Ellis LLP acted as legal advisor to Vine and Bracewell LLP
acted as legal advisor to GEP.

Contacts

Vine Oil & Gas LP
David Erdman, 469-605-2480
Director,
Investor Relations
[email protected]
www.vineog.com
—
GEP
Haynesville, LLC
Steve Hanks, 281-363-9161
Chief Financial
Officer
[email protected]