EP Energy Sells Southern Midland Basin Assets to Undisclosed Buyer

Updated 7 months ago

EP Energy entered into an agreement in December 2020 with an undisclosed buyer to divest their 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.

Russell Parker, EP Energy President & CEO

We are very pleased to announce this transaction that enables EP Energy to core up its portfolio and significantly reduce debt.