November 16, 2019 / 1:01 AM / 2 months ago

U.S. wants enviro assurances on oil well leases from bankrupt EP Energy

The U.S. government on Friday objected to EP Energy Corp’s motion for an order to obtain up to $314.7 million in financing to support its bankruptcy reorganization, saying terms for the loan need to make clear that the energy producer will comply with its environmental obligations.

The government in a filing in U.S. Bankruptcy Court in Houston said it is not opposed to EP’s proposed debtor-in-possession financing, but the Interior Department needs assurances the company will meet its obligations for decommissioning wells on onshore and offshore federal leases.

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