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Operator to Reduce Permian/Eagle Ford Activity in 2H17

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Operator to Reduce Permian/Eagle Ford Activity in 2H17
EP Energy released its Q2 results and as a result of the volatilty in oil prices, the company has decided to reduce its activity for 2H17. Increased production guidance from 75,000 to 82,000 boe/d to 80,000 to 85,000 boe/d Reduced planned Eagle Ford completions from 60 to 50 Reduced planned Wolfcamp completions from 97 to 90 Reduced planned capEx from $680 million to $575 million. Total equivalent production was 84.9 mboe/d, up from 84.5 mboe/d in Q2 2016 The company reduced the midpoint of its capital guidance ~15% from $630 million to $730 million to a range of $550 million to $600 million.

The Wolfcamp capital range is estimated to be between $250 million and $300 million, which reflects its anticipated completion ramp up in the second half of 2017. In the Eagle Ford, the capital…
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