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For Immediate Release
EP Energy Reports Second Quarter 2019 Results
HOUSTON, TEXAS, August 9, 2019 EP Energy Corporation (OTC Pink: EPEG) today reported second quarter 2019 financial and operational results.
· Equivalent production of 69.8 MBoe/d
· Oil production of 37.6 MBbls/d
· Net loss of $50 million, including $29 million gain on financial derivatives
· Adjusted EBITDAX of $148 million
· Oil and gas expenditures of $149 million, including $11 million acquisition capital
· Completed three horizontal wells in Northeastern Utah (NEU)
· Completed (based on wells fracture stimulated or fracd) 16 gross (14 net) wells
· Increased Drilled but Uncompleted (DUC) wells to 62
· Lease operating expense of $4.84 per Boe
· G&A expense of $6.77 per Boe, Adjusted G&A expense of $2.02 per Boe
· Ended the second quarter with $299 million of liquidity, including $52 million of cash
2Q19 Operating and Financial Performance
Below is a summary of second quarter 2019 results compared to the second quarter 2018:
The following information was filed by Ep Energy Llc on Friday, August 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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