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EP Energy acquires Southern Midland Basin acreage


Published May 2, 2014
EP Energy Corporation

EP Energy Corporation closed on an acquisition of certain producing properties and undeveloped acreage directly offsetting existing Wolfcamp operating areas in Reagan and Crockett Counties in the Southern Midland Basin.

The company also announced it has entered into a definitive agreement with Indigo Minerals, LLC to divest certain non-core assets in the Arklatex Cotton Valley and South Louisiana Wilcox areas.

The aggregate cash purchase price for the acquired properties is $153 million, while the divested properties will generate $150 million of cash proceeds. The acquisition is expected to be immediately accretive to net asset value and cash flow per share.

Tags: EP Energy Corporation




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