EP Energy closes $245M Eagle Ford buy, $180M Uinta sale

Independent producer EP Energy said Friday it closed the $245 million purchase of certain producing and undeveloped acreage in the Eagle Ford Shale, while also closing the $180 million sale of certain assets in its Altamont acreage in Utah’s Uinta Basin.

"We are pleased to deliver on an early achievement for the company under the new leadership team," said Russell Parker, president and CEO of Houston-based EP Energy, Kallanish Energy reports.

"The acquisition is the largest to date for the company, and we were able to complete the transactions in a balance sheet-friendly manner, bringing forward value from the divestiture."

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