EP Energy Corporation

Equities

EPEGQ

US2687851020

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2022	Verdun Oil Company II LLC completed the acquisition of EP Energy Corporation.	CI
2022	Verdun Oil Company II LLC agreed to acquire EP Energy Corporation for $1.4 billion	CI

EP Energy Corporation Announces Management Changes

November 02, 2017 at 02:03 am IST

On November 1, 2017, EP Energy Corporation announced that Brent J. Smolik, President, Chief Executive Officer and Chairman of the Board of Directors of the company will be departing from the company on November 15, 2017 following five years of service and will resign as President and Chief Executive Officer on the first business day following the date the company's quarterly report on Form 10-Q for the quarter ended September 30, 2017 is filed (the Effective Time). Russell E. Parker will be assuming the roles of President and Chief Executive Officer upon Mr. Smolik's resignation. Mr. Smolik is working closely with the company to ensure a smooth transition of his responsibilities to Mr. Parker prior to his departure. He will be leading a new streamlined management structure with new team leaders –Chad England (Operations), Ray Ambrose (Engineering & Subsurface), Mark Hargis (G&G) and Pete Addison (Land and Admin).

The new team will also include current leaders – Kyle McCuen (Interim CFO), Frank Olmsted (CAO) and Dennis Price (Marketing). In addition, Mr. Clayton A. Carrell, EVP and Chief Operating Officer, Ms. Marguerite Woung-Chapman, SVP, General Counsel and Corporate Secretary, and Ms. Joan M. Gallagher, SVP, HR and Administrative Services will also be departing from the company effective as of November 15, 2017. For purposes of the Employment Agreements between the Company and each of Messrs. Smolik and Carrell and Mss. Woung-Chapman and Gallagher (the “Departing Executives”), each dated as of May 24, 2012, the departures will be treated as a termination by the company without ‘Cause'.

Mr. Parker was the CEO of Phoenix Natural Resources (Phoenix) from March 2016 until October 2017. The board has also announced that Ray Ambrose has been appointed SVP of Engineering Subsurface and that Chad England has been appointed SVP of Operations, effective at the Effective Time. Mr. Ambrose was SVP Engineering and Business of Phoenix from April 2016 until October 2017.

Mr. Ambrose worked as the Chief Reservoir Engineer for Hilcorp from March 2012 until March 2015, and then for NRG Energy, Inc. as Senior Director, Petroleum Engineering from April 2015 until joining Phoenix. Mr. England was previously SVP Operations for Phoenix from April 2016 until October 2017. Mr. Smolik will resign as Chairman and as a member of the Board, effective November 2, 2017.

On October 30, 2017, Keith O. Rattie informed the Board that he will be resigning from the Board, effective November 15, 2017. Mr. Rattie has been a member of the Board since January 2015. The Board also announced the election of Russell E. Parker as a member of the Board, effective November 2, 2017.

Mr. Parker will not receive any additional compensation for his membership on the Board. On November 1, 2017, the Board announced that it has appointed Alan R. Crain as the Chairman of the Board to succeed Mr. Smolik, effective November 2, 2017. Apollo consented to such appointment pursuant to its rights under the terms of the Stockholders Agreement, dated as of August 20, 2013.

Mr. Crain has been on the Board, and served on the Board's Audit, Compensation and Governance and Nominating Committees, since May 9, 2017.

Latest news about EP Energy Corporation

Verdun Oil Company II LLC completed the acquisition of EP Energy Corporation.	30/22/30	CI
Verdun Oil Company II LLC agreed to acquire EP Energy Corporation for $1.4 billion	25/22/25	CI
EP Energy Corporation Provides Production Guidance for the Year of 2021	23/21/23	CI
EP Energy Intends to Evaluate Range of Strategic Alternatives to Maximize Shareholder Value	12/21/12	CI
RRP Acquisitions 1 LLC completed the acquisition of Texas assets of EP Energy Corporation for $240 million.	23/21/23	CI
An unknown buyer entered into an agreement to acquire Texas assets of EP Energy Corporation.	23/20/23	CI
EP Energy Corporation Emerged from Bankruptcy	01/20/01	CI
Modified Fifth Amended Joint Reorganization Plan Approved for EP Energy Corporation	27/20/27	CI
Order Approving Combined Hearing for Fifth Amended Reorganization Plan & Disclosure Statement for EP Energy Corporation	20/20/20	CI
Fifth Amended Joint Reorganization Plan and Disclosure Statement Filed by EP Energy Corporation	13/20/13	CI
Motion for Exclusivity Period Extension Approved For EP Energy Corporation	27/20/27	CI
Motion for Asset Sale Approved for EP Energy Corporation	27/20/27	CI
Motion for Asset Sale Filed by EP Energy Corporation	02/20/02	CI
First Motion for Exclusivity Period Extension Approved For EP Energy Corporation	31/20/31	CI
Ep Energy Corporation Reports Earnings Results for the Full Year Ended December 31, 2019	26/20/26	CI
EP Energy Corporation Auditor Raises 'Going Concern' Doubt	25/20/25	CI
Fourth Amended Reorganization Plan Approved for EP Energy Corporation	12/20/12	CI
First Motion for Exclusivity Period Extension Filed by EP Energy Corporation	31/20/31	CI
Fourth Amended Disclosure Statement Approved for EP Energy Corporation	14/20/14	CI
Fourth Amended Reorganization Plan and Disclosure Statement Filed by EP Energy Corporation	13/20/13	CI
Third Amended Reorganization Plan and Disclosure Statement Filed by EP Energy Corporation	08/20/08	CI
Second Amended Reorganization Plan and Disclosure Statement Filed by EP Energy Corporation	02/20/02	CI
Amended Joint Reorganization Plan and Disclosure Statement Filed by EP Energy Corporation	12/19/12	CI
DIP Financing Approved for EP Energy Corporation	25/19/25	CI
Joint Reorganization Plan and Disclosure Statement Filed by EP Energy Corporation	18/19/18	CI

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Company Profile

EP Energy Corporation (EP Energy) is an independent exploration and production company. The Company is engaged in the acquisition and development of unconventional onshore oil and natural gas properties in the United States. The Company operates through a base of producing assets. It is involved in the development of its drilling inventory located in three areas: the Eagle Ford Shale (South Texas), the Wolfcamp Shale (Permian Basin in West Texas) and the Altamont Field in the Uinta Basin (Northeastern Utah). As of December 31, 2016, in its operating areas, the Company had identified 5,156 drilling locations (including 639 drilling locations to which it has attributed proved undeveloped reserves). As of December 31, 2016, the Company had proved reserves of 432.4 million barrels of oil equivalent (MMBoe) and an average net daily production of 87,641 barrel of oil equivalent per day (Boe/d).

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