EP Energy +12% after unveiling Permian drilling joint venture [Seeking Alpha]
EP ENERGY CORP (EPE)
Last ep energy corp earnings: 5/8 05:55 pm
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Source: Seeking Alpha
EP Energy (NYSE: EPE ) AH after announcing a drilling joint venture in the Permian Basin with a company affiliated with Apollo Global Management (NYSE: APO ) to fund future oil and natural gas development in its Wolfcamp program. EPE says the investor will participate in the development of up to 150 wells, funding $450M for 60% of the drilling, completion and equipping costs over the life of the program in exchange for a 50% working interest in the joint venture wells; EPE will retain operational control of the assets. The first wells under the JV began production this month. Now read: EP Energy Comeback: Production Improvements And Debt Monster Separation »
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