31 Jan 2017quarterly activities report▼ Bad
EP Energy Corp reported quarterly revenue of $327.0 million and a net loss of $47.0 million for the period ended 2017-03-31.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
26 Jan 2017material agreement● NeutralMajor
EP Energy signed a drilling joint venture with Wolfcamp DrillCo, an Apollo-affiliated investor (Apollo affiliates own about 44.8% of EP Energy's stock). The investor funds 60% of EP Energy's share of costs on a first 75-well Wolfcamp program in Crockett, Reagan and Irion Counties, Texas, to earn 50% of EP Energy's working interest in each well. A second 75-well program needs the investor's approval, and the investor's stake drops to 15% of EP Energy's initial interest once it reaches a 12% return. The filing says the deal was approved by directors not affiliated with the investor, advised by independent advisors.
10 Jan 2017securities registration● Neutral
EP Energy Corp registered a securities offering with the SEC using its shelf eligibility.
15 Dec 2016director interest notice● Neutral
Alexander Ralph became a EP Energy Corp director and company insider (initial ownership filing).
30 Nov 2016debt financing● NeutralMajor
EP Energy LLC sold $500.0 million of 8.00% senior secured notes due 2024, secured by the collateral that backs the bank facility, with the bank facility agent controlling most collateral matters. Interest is payable semi-annually from May 30, 2017. This adds a new secured debt layer alongside the bank facility and the August 2016 priority term loans.
15 Nov 2016director interest notice● Neutral
EP Energy Corp Vice President & Controller Olmsted III Francis C sold 5,742 shares at $3.56.
27 Oct 2016quarterly activities report▼ Bad
EP Energy Corp reported quarterly revenue of $255.0 million and a net loss of $43.0 million for the period ended 2016-09-30.
26 Oct 2016quarterly activities report▼ Bad
EP Energy Corp reported quarterly revenue of $255.0 million and a net loss of $43.0 million for the period ended 2016-09-30.
26 Aug 2016debt financing● NeutralMajor
EP Energy LLC exchanged about $582 million (95%) of its existing 2018 and 2019 term loans for new term loans at LIBOR plus 8.75% (1.00% floor) maturing June 30, 2021, and paid a 3.0% fee to consenting lenders. The new loans rank ahead of the old ones but behind the bank facility, with prepayment penalties of 3.0% in year one and 1.0% in year two, and about $29 million of old term loans remain outstanding. The filing does not say why the company did this.
4 Aug 2016quarterly activities report▼ Bad
EP Energy Corp reported quarterly revenue of $255.0 million and a net loss of $43.0 million for the period ended 2016-09-30.
3 Aug 2016quarterly activities report▼ Bad
EP Energy Corp reported quarterly revenue of $255.0 million and a net loss of $43.0 million for the period ended 2016-09-30.
2 June 2016director interest notice● Neutral
Scott R Browning became a EP Energy Corp director and company insider (initial ownership filing).
25 May 2016director interest notice● Neutral
EP Energy Corp 10%+ owner Epe Management Investors LLC disposed of 2,117,228 shares via option/appreciation-right settlement.
17 May 2016director interest notice● Neutral
EP Energy Corp EVP & CFO Whitehead Dane E sold 8 shares at $5.81.
12 May 2016director interest notice● Neutral
EP Energy Corp director Thomas R Hix received 30,648 shares as part of the equity award.
12 May 2016director interest notice● Neutral
EP Energy Corp director Michael S Helfer received 46,848 shares as part of the equity award.
12 May 2016director interest notice● Neutral
EP Energy Corp director Keith O Rattie received 30,648 shares as part of the equity award.
10 May 2016substantial holder notice● Neutral
GIC Private Limited, GIC Special Investments Pte. Ltd, Seabed Veil Investment Pte. Ltd disclosed a new substantial EP Energy Corp shareholding (5.10% of votes).
5 May 2016quarterly activities report● Neutral
EP Energy Corp reported quarterly revenue of $100.0 million and net income of $62.0 million for the period ended 2016-06-30.
4 May 2016asset acquisition disposition▼ BadMajor
The Haynesville and Bossier asset sale to Covey Park closed on May 3, 2016 for $420 million, with net proceeds of about $395 million after adjustments, resolving the March agreement. The same day-range amendment to the bank facility cut its borrowing base from $2.75 billion to $1.65 billion, raised interest rates by 1.00%, and through March 31, 2018 replaced the total debt-to-EBITDAX limit with a first-lien limit of 3.50 to 1.0 and capped debt buybacks at $350.0 million. The filing also furnished first-quarter 2016 results and updated guidance, but gives no figures in the text provided.
21 Mar 2016material agreement● NeutralMajor
On March 18, 2016, subsidiaries agreed to sell substantially all of their Haynesville and Bossier shale assets to Covey Park Gas LLC for $420 million in cash, with a $21 million deposit in escrow. Closing was expected in the second quarter of 2016, with termination rights if it had not closed by July 1, 2016.
18 Feb 2016quarterly activities report● Neutral
EP Energy Corp reported quarterly revenue of $224.0 million and net income of $94.0 million for the period ended 2016-03-31.
12 Feb 2016substantial holder notice● Neutral
OR Korea National Oil Corporation reported a EP Energy Corp shareholding of 31,276,726 shares (12.60% of votes) in a periodic institutional filing.
30 Oct 2015quarterly activities report● Neutral
EP Energy Corp reported quarterly revenue of $753.0 million and net income of $176.0 million for the period ended 2015-09-30.
28 Oct 2015quarterly activities report● Neutral
EP Energy Corp reported quarterly revenue of $753.0 million and net income of $176.0 million for the period ended 2015-09-30.
5 Aug 2015director interest notice● Neutral
EP Energy Corp Chairman, President & CEO Brent J Smolik bought 63,300 shares on the open market.
4 Aug 2015director interest notice● Neutral
Park Ilrae became a EP Energy Corp director and company insider (initial ownership filing).
30 July 2015securities registration● Neutral
EP Energy Corp registered a securities offering with the SEC using its shelf eligibility.
30 July 2015quarterly activities report▼ Bad
EP Energy Corp reported quarterly revenue of $189.0 million and a net loss of $212.0 million for the period ended 2015-06-30.
29 July 2015quarterly activities report▼ Bad
EP Energy Corp reported quarterly revenue of $189.0 million and a net loss of $212.0 million for the period ended 2015-06-30.