One-Page Deal Sheet
Apollo and Debt-Ridden EP Energy Signs DrillCo
Apollo Global Management, Llc EP Energy Corp
Announced Date
January 26,2017
Transaction Type
JV - DrillCo
Enterprise Value (EV)($MM)
450
Asset/Basin:
{"Permian - Midland Basin"}
TargetZones:
{Wolfcamp}
Transaction Details: Require Private Equity Subscription
EP Energy has entered into a drilling joint venture with Apollo Global Management LLC for the drilling of up to 150 wells. The venture will be split between two tranches of 75 wells.
This JDA was originally going to focus on the Midland Basin Wolfcamp, but was changed in April 2018 to focus on the Eagle Ford.
Drilling Joint Venture highlights Up to a 150 well program in two 75 well tranches Investor funds approximately $450MM for 60 percent of drilling, completion and equipping costs over the life of the program Investor earns 50 percent working interest in each farmout well in the…Gulf Coast - South Texas Deal Activity In Last 12 Months
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