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News Breaks
February 10, 2014
08:15 EDTEPEEP Energy targets 2014 capital program of $2B, budget for Eagle Ford at $1B
Sees 20% increase in well completions in 2014 compared to 2013. Sees 40% increase in oil production in 2014 compared to 2013. Substantially all of 2014 estimated oil and natural gas production hedged at favorable prices. In total, EP Energy expects to complete 265 to 290 wells in 2014 compared with 231 wells in 2013, which is approximately 20 percent higher than 2013 levels at the mid-point of estimates. Per-unit adjusted cash costs are expected to be $12.25 to $14.25 per Boe before transportation costs of $3.00 to $3.50 per Boe and DD&A rates are expected to be $24.00 to 26.00 per Boe. These costs reflect the company's increased oil production, which is expected to continue to generate significant EBITDAX margin expansion.
News For EPE From The Last 14 Days
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February 18, 2015
16:29 EDTEPEEP Energy sees 2015 oil and gas expenditures $1.2B-$1.3B
EP Energy said it is targeting $1.2B-$1.3B oil and gas expenditures in 2015. It xpects to be cash flow neutral, with capital expenditures in line with estimated operating cash flow including hedge settlements. It sees substantially all of 2015 estimated oil and natural gas production volumes hedged at an average price of $91.19 per barrel of oil and $4.26 per MMBtu of natural gas 94.5-109.5 thousand barrels of oil equivalent per day total production, up 4% at the mid-point from 2014. EP sees 56,000-64,000 barrels of oil per day mid-point is 10% higher than 2014.
16:24 EDTEPEEP Energy reports Q4 adjusted EPS 22c
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