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For Immediate Release
EP Energy Announces Fourth Quarter and Full Year 2018 Results
HOUSTON, TEXAS, March 14, 2019EP Energy Corporation (NYSE:EPE) today reported 2018 financial and operational results for the company.
2018 Key Results:
· Net Loss of $1,003 million including $1,103 million non-cash impairment charge
· Adjusted EBITDAX of $813 million
· 80.7 thousand barrels of oil equivalent per day (MBoe/d), including 45.8 thousand barrels of oil production per day (MBbls/d)
· $984 million of oil and gas expenditures, including acquisitions and other capital of $340 million
· $644 million of adjusted oil and gas expenditures
· 136 completed (based on wells fracture stimulated or fracd) gross wells
· Capital efficiency improvements in all basins
· Drilled and completed companys first ever horizontal wells in Northeastern Utah
· Expanded Eagle Ford net acreage footprint by approximately 30%
· Proved reserves of 325 million barrels of oil equivalent (MMBoe) which includes reducing our PUD development timeframe from five years to three years which was a negative 64 MMBoe impact
The following information was filed by Ep Energy Llc on Friday, March 15, 2019 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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