Profile: EP Energy Corp (EPE)
22 May 2019
EP Energy Corporation (EP Energy), incorporated on August 8, 2013, is an independent exploration and production company. The Company is engaged in the acquisition and development of unconventional onshore oil and natural gas properties in the United States. The Company operates through a base of producing assets. It is involved in the development of its drilling inventory located in three areas: the Eagle Ford Shale (South Texas), the Wolfcamp Shale (Permian Basin in West Texas) and the Altamont Field in the Uinta Basin (Northeastern Utah). As of December 31, 2016, in its operating areas, the Company had identified 5,156 drilling locations (including 639 drilling locations to which it has attributed proved undeveloped reserves).
As of December 31, 2016, the Company had proved reserves of 432.4 million barrels of oil equivalent (MMBoe) and an average net daily production of 87,641 barrel of oil equivalent per day (Boe/d). As of December 31, 2016, the Company had approximately 220 million barrels (MMBbls) of proved oil reserves, 91 MMBbls of proved natural gas liquids (NGLs) reserves and 732 billion cubic feet (Bcf) of proved natural gas reserves.
Eagle Ford Shale
The Eagle Ford Shale, located in South Texas, is an unconventional oil play in the United States. As of December 31, 2016, the Eagle Ford formation in La Salle county had 125 feet of net thickness (165 feet gross). As of December 31, 2016, the Company had 93,227 net (104,122 gross) acres in the Eagle Ford, and identified 894 drilling locations. The Company had 607 net producing wells (598 net operated wells) and one rig in this program, as of December 31, 2016. As of December 31, 2016, its average net daily production was 43,487 Boe/d.
The Wolfcamp Shale is located in the Permian Basin. The Permian Basin is characterized by stacked oil reservoirs that provide targets for horizontal drilling. As of December 31, 2016, its contiguous acreage positions were characterized by stacked pay zones, including the Wolfcamp A, B, and C zones, which combine for over 750 feet of net (approximately 1,000 feet of gross) thickness. The Company had 178,024 net (178,362 gross) acres in the Wolfcamp, and identified approximately 2,937 drilling locations in the Wolfcamp A, B, and C zones, as of December 31, 2016. The acreage was also prospective for the Cline Shale, which had approximately 100 feet of net (approximately 200 feet of gross) thickness, as of December 31, 2016. As of December 31, 2016, the Company had 290 net producing wells (287 net operated wells) and an average net daily production of 21,371 Boe/d.
The Altamont field is located in the Uinta Basin in northeastern Utah. The Company's operations are focused on developing the Altamont Field Complex (consisting of the Altamont, Bluebell and Cedar Rim fields). As of December 31, 2016, it owned approximately 180,980 net (322,677 gross) acres in Duchesne and Uinta Counties. The Altamont Field Complex had a gross pay interval thickness of over 4,300 feet and commingled production was from over 1,500 feet of net stimulated rock, as of December 31, 2016. The Company's activity is focused on the development of its vertical inventory on 80-acre and 160-acre spacing. As of December 31, 2016, the Company had identified 1,325 drilling locations. The Company had 382 net producing wells (373 net operated wells) and two rigs in this program, and average net daily production was 16,498 Boe/d, as of December 31, 2016.
EP Energy Corp
1001 Louisiana St
HOUSTON TX 77002-5089