# EP Energy

> EP Energy was a Houston-based independent oil and gas producer created when a private-equity consortium bought El Paso Corporation’s exploration and production business for about $7.15 billion in 2012. It drilled and developed large positions in the Eagle Ford, Permian and Uinta basins, selling oil, natural gas and natural gas liquids to commodity buyers. Heavy acquisition debt, falling commodity prices and repeated impairments eventually overwhelmed the operating gains: EP filed Chapter 11 in 2019, cut $4.4 billion of debt, and was sold and divided between Verdun Oil Company and Crescent Energy in 2022.

- **Founded:** 2012
- **Headquarters:** Houston, United States
- **Products:** Unconventional oil development, Natural gas and NGL production, Reservoir and well optimization
- **Notable:** Completed a 2014 IPO of 35.2 million shares at $20, raising $704 million in gross proceeds., Produced an average 80.7 thousand barrels of oil equivalent per day in 2018 from approximately 1,744 wells., Reported 324 million barrels of oil equivalent of proved reserves at year-end 2018, 70% of them proved developed producing.

## Products & services

- **Unconventional oil development** — Acquisition, drilling, completion and operation of onshore oil properties, principally in the Eagle Ford, Permian and Uinta areas.
- **Natural gas and NGL production** — Production and sale of natural gas and natural gas liquids from operated wells, with transportation and commodity hedging used to manage delivery and price exposure.
- **Reservoir and well optimization** — Technical development of contiguous leasehold positions through infill drilling, longer laterals, completion design and work on existing wells.

## Achievements

- Completed a 2014 IPO of 35.2 million shares at $20, raising $704 million in gross proceeds.
- Produced an average 80.7 thousand barrels of oil equivalent per day in 2018 from approximately 1,744 wells.
- Reported 324 million barrels of oil equivalent of proved reserves at year-end 2018, 70% of them proved developed producing.
- Sold Haynesville and Bossier assets for $420 million in 2016 while recording a $79 million gain.
- Emerged from Chapter 11 in 2020 under a plan that reduced debt by approximately $4.4 billion.

## Latest updates

- **2022-03** — The FTC required EnCap to divest EP Energy’s entire Utah business; Crescent Energy agreed to buy those Uinta assets for $815 million before adjustments.
- **2022-03** — Verdun’s acquisition closed, with EP’s Eagle Ford operations joining Verdun and the Uinta assets going to Crescent under the antitrust remedy.
- **2025-01** — The Justice Department and FTC announced a record $5.6 million civil penalty to settle allegations of illegal pre-merger coordination among XCL, Verdun and EP Energy.
- **2025-07** — The FTC partly granted and partly denied a request by EnCap, Verdun and XCL to modify the 2022 consent order after XCL exited the Uinta Basin.

## Links

- Website: https://epenergy.com
- LinkedIn: https://www.linkedin.com/company/ep-energy

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Profile page: https://yespress.io/ep
Published by YesPress — https://yespress.io
Last updated: 2026-09-24