Company Overview
EP Energy Corp. is a private independent exploration and production company based in Houston, Texas. The firm is engaged in the acquisition and development of unconventional onshore oil and gas properties, focusing on enhancing the value of its asset portfolio. By prioritizing capital efficiency and financial flexibility, EP Energy seeks strategic acquisitions and divestitures to bolster its market position. Recently, the company focused its operations in Utah and the Eagle Ford region while selling off its assets in the Permian Basin. EP Energy employs approximately 1,359 individuals and reported a revenue of $820 million. The company initially launched its IPO in 2014, which raised $664 million.
Key Financial Transactions
- 2020: Sold assets in the Permian Basin.
- 2017: Sold Altamont acreage assets for $180 million.
Leadership
Russell E. Parker is the President and Chief Executive Officer, leading the company since 2017 through significant restructuring efforts. Previously, he held the CEO role at Phoenix Natural Resources LLC, with experience at Hilcorp Energy Co. and Chief Oil & Gas LLC, providing expertise in reservoir engineering and strategic leadership.
Additional Insights
EP Energy has been actively engaged in asset sales within the U.S., utilizing auctions through partners like EnergyNet. The company has undergone a financial restructuring with creditors to stabilize financially, aligning with its broader objectives of sustainability and operational focus. The fluctuating energy market landscape necessitates adaptive asset management strategies.
Further information and updates can be accessed via EP Energy's official website and corporate communications channels.
Competitor Profiling for EP Energy
Overview
Operating primarily in the oil and natural gas sector, EP Energy faces substantial competition from other exploration and production companies.
Major Competitors
1. W&T Offshore, Inc.
- Focuses on the Gulf of Mexico, engaging in exploration and development of oil and gas properties.
- Established in 1983, W&T holds interests in 53 offshore fields, spanning about 673,000 gross acres.
- Leadership includes Tracy W. Krohn (Founder, Chairman, CEO, and President), William J. Williford (Executive VP and COO), and Sameer Parasnis (Executive VP and CFO).
2. SilverBow Resources
- Acquired by Crescent Energy; focuses on Eagle Ford Shale and Austin Chalk in South Texas.
- Leadership comprises Sean C. Woolverton (CEO) and Steven W. Adam (Executive VP and COO).
- Emphasizes operational efficiency, financial stability, and strategic energy marketing.
3. Lonestar Resources US Inc.
- Based in Fort Worth, Texas, focusing on Eagle Ford Shale development.
- Holds over 57,000 net acres, with significant capital allocation for development.
- Merged with Penn Virginia in a $370 million deal, enhancing its Eagle Ford presence.
4. Concho Resources, Inc.
- Now a part of ConocoPhillips, once a major player in the Permian Basin.
- Specialized in the acquisition and development of unconventional oil and gas properties.
Understanding these competitors' strategic positions and diverse asset portfolios is crucial for EP Energy's ongoing market endeavors.
