Hedging | Capital Markets | Private Equity Activity
EP Energy Expands Hedges to Cover ~75% of Output for 2017
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EP Energy Corporation has significantly increased its 2017 oil hedge positions and added 2016 natural gas hedges.
The company now has a weighted average price floor of $62.34 per barrel (Bbl) on approximately 12.8 million barrels (MMBbl) of oil in 2017. Based on the mid-point of 2016 guidance, this would equate to approximately 75 percent of estimated annual 2017 oil production.
The 2017 oil hedges utilize a combination of fixed price swaps of $66 per Bbl and three-way collar contracts of $46x$61x$70 per Bbl which together establish improved downside price protection, while providing upside price participation if oil prices recover.
In addition, EP Energy added 2016 natural gas positions which effectively hedge approximately 60 percent of its remaining estimated 2016 natural gas…
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