8 May 2018quarterly activities report▼ Bad
EP Energy Corp reported quarterly revenue of $265.0 million and a net loss of $58.0 million for the period ended 2018-06-30.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
3 May 2018material agreement● NeutralMajor
EP Energy amended its drilling joint venture with Apollo-affiliated Wolfcamp DrillCo (Access Industries now also holds an indirect minority stake in the investor) so the second tranche is developed in the Eagle Ford instead of the Permian, on the same economic terms. Phase One is 34 wells expected to finish in 2019, and a later Phase Two would be sized so the investor's share stays within $225 million; the investor has 60 days to approve or reject it, and if it rejects, EP Energy may proceed alone. About $215 million of first-tranche costs has been recovered from the investor, with the tranche expected to complete in the second half of 2018. This resolves the open question of whether the second tranche would be approved, and moves it from the Wolfcamp to a new area.
1 Mar 2018quarterly activities report● Neutral
EP Energy Corp reported quarterly revenue of $286.0 million and net income of $18.0 million for the period ended 2018-03-31.
13 Feb 2018substantial holder notice● Neutral
GIC Private Limited, GIC Special Investments Pte. Ltd, Seabed Veil Investment Pte. Ltd reported a EP Energy Corp shareholding of 12,509,968 shares (4.91% of votes) in a periodic institutional filing.
13 Feb 2018substantial holder notice● Neutral
Riverstone V Everest Holdings, L.P, Riverstone Energy Partners V, L.P, Riverstone Energy GP V, LLC, Riverstone Management Group, L.L.C, Riverstone Energy GP V Corp, Riverstone Holdings LLC, Riverstone/Gower Mgmt Co Holdings, L.L.C, David M. Leuschen, Pierre F. Lapeyre, Jr reported a EP Energy Corp shareholding of 31,276,726 shares (12.30% of votes) in a periodic institutional filing.
7 Feb 2018substantial holder notice● Neutral
OR Korea National Oil Corporation reported a EP Energy Corp shareholding of 31,276,726 shares (12.30% of votes) in a periodic institutional filing.
2 Feb 2018director interest notice● Neutral
EP Energy Corp director Kalsu James Barton received 30,382 shares as part of the equity award.
31 Jan 2018director interest notice● Neutral
James Barton Kalsu became a EP Energy Corp director and company insider (initial ownership filing).
22 Jan 2018quarterly activities report▼ Bad
EP Energy Corp reported a quarterly net loss of $72.0 million for the period ended 2017-12-31.
9 Jan 2018director interest notice● Neutral
Jace D Locke became a EP Energy Corp VP, Gen Counsel and Corp Sec and company insider (initial ownership filing).
4 Jan 2018director interest notice● Neutral
EP Energy Corp director Robert C Reeves received 28,936 shares as part of the equity award.
4 Jan 2018debt financing● NeutralMajor
EP Energy completed its exchange offers, issuing about $1.09 billion of new 9.375% senior secured notes due 2024 and paying about $47.7 million in cash. Holders tendered about $954 million (79.50%) of the 2020 notes, $53.6 million (21.45%) of the 2022 notes and $139.3 million (26.87%) of the 2023 notes. The new notes rank behind the bank facility in security. This resolves the exchange offer thread, and since the 2020 exchange completed, the covenant-stripping amendment from December should now apply to remaining 2020 holders (inference).
22 Dec 2017material agreement● NeutralMajor
EP Energy got enough noteholder consent in its exchange offer to sign an amendment to the 9.375% 2020 notes indenture that removes substantially all restrictive covenants and certain default events. It takes effect only once the 2020 notes exchange is completed, and then applies to all remaining holders. The exchange offers cover up to $1.2 billion of new 9.375% secured notes due 2024 plus cash for the 2020, 2022 and 2023 notes.
13 Dec 2017director interest notice● Neutral
Robert C Reeves became a EP Energy Corp director and company insider (initial ownership filing).
13 Dec 2017director interest notice● Neutral
EP Energy Corp director Thomas R Hix disposed of 38,462 shares via option/appreciation-right settlement.
20 Nov 2017director interest notice● Neutral
Rajen Mahagaokar became a EP Energy Corp director and company insider (initial ownership filing).
17 Nov 2017director interest notice● Neutral
EP Energy Corp director Keith O Rattie disposed of 38,462 shares via option/appreciation-right settlement.
8 Nov 2017director interest notice● Neutral
Raymond J Ambrose became a EP Energy Corp Senior Vice President and company insider (initial ownership filing).
8 Nov 2017director interest notice● Neutral
Russell E. Parker became a EP Energy Corp President and CEO and company insider (initial ownership filing).
8 Nov 2017director interest notice● Neutral
Chad D England became a EP Energy Corp Senior Vice President and company insider (initial ownership filing).
7 Nov 2017director interest notice● Neutral
Woung-chapman Marguerite became a EP Energy Corp SVP, Gen Counsel and Corp Sec and company insider (initial ownership filing).
7 Nov 2017director interest notice● Neutral
Carrell Clayton A. became a EP Energy Corp Exec VP & COO and company insider (initial ownership filing).
7 Nov 2017director interest notice● Neutral
Gallagher Joan M became a EP Energy Corp Sr VP, Human Res & Admin Svcs and company insider (initial ownership filing).
7 Nov 2017director interest notice● Neutral
Brent J Smolik became a EP Energy Corp Chairman, President & CEO and company insider (initial ownership filing).
6 Nov 2017director interest notice● Neutral
EP Energy Corp director Alan R Jr. Crain received 9,882 shares as part of the equity award.
3 Nov 2017quarterly activities report▼ Bad
EP Energy Corp reported quarterly revenue of $219.0 million and a net loss of $72.0 million for the period ended 2017-09-30.
13 Oct 2017quarterly activities report▼ Bad
EP Energy Corp reported quarterly revenue of $219.0 million and a net loss of $72.0 million for the period ended 2017-09-30.
3 Aug 2017quarterly activities report▼ Bad
EP Energy Corp reported quarterly revenue of $219.0 million and a net loss of $72.0 million for the period ended 2017-09-30.
2 Aug 2017quarterly activities report▼ Bad
EP Energy Corp reported quarterly revenue of $219.0 million and a net loss of $72.0 million for the period ended 2017-09-30.
19 July 2017director interest notice● Neutral
Ryan M Cliff Jr. became a EP Energy Corp director and company insider (initial ownership filing).