EP Energy (EPE) has filed to go public. The company was El Paso Corporation’s upstream subsidiary and was sold to private investors prior to the Kinder Morgan acquisition of El Paso. Read more in the article Apollo Buys El Paso’s E&P Unit – $7.15 Billion.
EP Energy’s primary operations are located in the Eagle Ford, Permian Basin, and Uinta Basin in Utah.
EP Energy has 93,000 net acres and operates 167 wells (as of March ’13) in the Eagle Ford. The company is running six rigs in the region and plans to drill 100+ wells in 2013. Eagle Ford production has grown from near zero before 2010 to more than 30,000 boe/d as of the second quarter.
Led by the Eagle Ford, oil production across the company’s portfolio has grown almost three-fold since the beginning of 2011.
The company has yet to release much in regard to its IPO. The filing process has started and company has said it will raise as much as $100 million. That means it will stay under the control of its private equity owners. Watch for more information from the company in the coming weeks.