EP Energy Announces It Has Engaged Credit Suisse and Jefferies to Assist with Strategic Alternatives Review
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HOUSTON, March 12, 2021 /PRNewswire/ EP Energy Corporation ( EP Energy or the Company ) announced today that its Board of Directors (the Board ) intends to evaluate a range of strategic alternatives to maximize shareholder value, including without limitation, a corporate sale, merger or other business combination, or other transactions. The Company has engaged Credit Suisse Securities (USA) LLC ( Credit Suisse ) and Jefferies LLC ( Jefferies ) as financial advisors to assist with the evaluation process.
President and Chief Executive Officer Russell Parker stated, We are very pleased to be working with our advisors to explore strategic alternatives that maximize value for our shareholders. With the completion of our Southern Midland Basin asset sale, the management team and our Board believe now is an opportun
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EP Energy Announces Agreement to Divest of Southern Midland Basin Assets
December 11, 2020 GMT
EP Energy Corporation. (PRNewsFoto/EP Energy Corporation)
HOUSTON, Dec. 11, 2020 /PRNewswire/ EP Energy Corporation (“EP Energy” or the “Company”) announced today that it has entered into a Purchase and Sale Agreement with an undisclosed buyer to divest of EP Energy’s assets located in the Southern Midland Basin. The transaction is expected to close by the end of January 2021.
Pro forma for the divestiture, EP Energy will own approximately 410,000 gross (275,000 net) acres in Northeastern Utah and the Eagle Ford. Average daily net production for the third quarter 2020 pro-forma for the transaction was 48,400 barrels of oil equivalent per day and 31,600 barrels of oil per day. The Company intends to use the proceeds to reduce borrowings under its Reserve Based Loan facility. Pro forma