One-Page Deal Sheet
EP Energy, Tesoro Join Forces for Uinta Development
Tesoro Corporation EP Energy Corp
Announced Date
May 25,2017
Transaction Type
JV - DrillCo
Asset/Basin:
{"Uinta Basin"}
Transaction Details: Require Private Equity Subscription
EP Energy and Tesoro have formed a DrillCo to develop EP's Altamont prospect in the Uinta Basin.
EP has retained 80% working interest and Tesoro has picked up 20%. Tesoro has a refinery in the area, which may have contributed to the formation of the JV.
Drilling Joint Venture Highlights
60 well program Tesoro to provide a capital carry in exchange for 50 percent of EP Energy's working interest in joint venture wells Tesoro to purchase all oil production from joint venture wells EPE's net share of capital is expected to be approximately $64 million EPE will retain operational control of the…| Announced Date | Buyer | Seller | Deal Value($mm) | Location | Category |
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