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Not For Immediate Release
EP Energy Reports Third Quarter 2019 Results
HOUSTON, TEXAS, November 12, 2019 EP Energy Corporation (OTC Pink: EPEGQ) today reported third quarter 2019 financial and operational results.
· Equivalent production of 67.2 MBoe/d
· Oil production of 37.9 MBbls/d
· Net loss of $620 million, including $32 million gain on financial derivatives
· Adjusted EBITDAX of $141 million
· Oil and gas expenditures of $159 million, including $3 million acquisition capital
· Completed (based on wells fracture stimulated or fracd) 32 gross (29 net) wells
· Decreased Drilled but Uncompleted (DUC) wells to 37
· Lease operating expense of $5.54 per Boe
· G&A expense of $6.09 per Boe, Adjusted G&A expense of $2.54 per Boe
· Ended the third quarter with $188 million of liquidity, all of which was cash
3Q19 Operating and Financial Performance
Below is a summary of third quarter 2019 results compared to the third quarter 2018:
The following information was filed by Ep Energy Corp (EPEGQ) on Tuesday, November 12, 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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