EP Energy Exits Permian Basin to Focus on Utah, Eagle Ford Assets

EP Energy Corp. is set to transform into a two-basin operator following the recent announced sale that will mark the Houston-based company’s exit from the Permian.

In a Dec. 11 company release, EP Energy said it had entered a purchase and sale agreement with an undisclosed buyer to divest its assets located in the southern Midland Basin. The company holds a large contiguous acreage position currently focused on the Wolfcamp Shale in Crocket, Irion, Reagan and Upton counties, Texas, according to its website.

Following closing of the Permian divestiture expected by the end of January, EP Energy will become a two-basin operator with positions in northeastern Utah and the Eagle Ford Shale.