Exhibit 99.1

 

 

News

 

For Immediate Release

 

EP Energy Reports 1Q’19 Results

 

HOUSTON, TEXAS, May 8, 2019

— EP Energy Corporation (NYSE:EPE) today reported first quarter 2019 financial and operational results.

 

1Q’19 Results:

 

·      Equivalent production of 73.2 MBoe/d

 

·      Oil production of 39.4 MBbls/d

 

·      Net loss of $140 million, including $95 million loss on financial derivatives

 

·      Adjusted EBITDAX of $148 million

 

·      Oil and gas expenditures of $154 million, including $4 million acquisition capital

 

·      Adjusted oil and gas expenditures of $150 million

 

·      Completed two horizontal wells in Northeastern Utah (NEU)

 

·      Completed (based on wells fracture stimulated or frac’d) 17 gross wells (10 net)

 

·      Increased Drilled but Uncompleted (DUC) wells to 46

 

·      Lease operating expense of $5.55 per Boe

 

·      G&A expense of $3.16 per Boe, Adjusted G&A expense of $2.50 per Boe

 

·      Reaffirmed the RBL Facility borrowing base in April 2019 and ended the first quarter with $440 million of liquidity, including $10 million of cash

 

1Q’19 Operating and Financial Performance

 

Below is a summary of first quarter 2019 results compared to the first quarter 2018:

 

1


The following information was filed by Ep Energy Llc on Thursday, May 9, 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-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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