Latest News and Analysis
Deals and Transactions
Track Drilling (Rigs by operator) | Completions (Frac Spreads)

Bankruptcy / Restructure Update | Capital Markets

EP Energy Wins Court Approval to Exit Bankruptcy

emailEmail    |    printPrint    |    bookmarkBookmark
   |    Friday,March 06,2020

Wall Street Journal is reporting that E&P Energy has won approval to exit bankruptcy, reducing its debt by $3.3 billion.  The deal would see Apollo Global and Elliott Management become controlling shareholders.

JP Morgan and Fidelity Management and other bondholders said they were underpaid to the tune of $178 million according to the WSJ.

It is said that Apollo and Elliott would be buying EP Energy equity through a $475 million rights offering which would include cash and debt forgiveness.  


E&P energy continues to operate 2 rigs in the Uinta Basin project.


Production By Area

Permian : 27,340 Mboe/d

Uinta : 24,Mboe/d


Related Categories :

Bankruptcy / Restructure Update   

More    Bankruptcy / Restructure Update News

Gulf Coast News >>>

Permian News >>>