Sizzling Stock’s News Update: EP Energy Corporation (NYSE:EPE)

On Friday, EP Energy Corporation (NYSE:EPE) stock plunged -0.58% and closed at 1.71. The stock opened the session at $1.73 and touched its highest price point at $1.75. Its recent trading capacity is 701145 shares versus to its average trading volume of 840418 shares. The company’s stock’s lowest price point for the session stood at $1.59.EPE traded as low as $ 1.54 in the past 52 weeks, and shares hit its peak level to $5.77.

EP Energy Corporation (NYSE:EPE) declared that the company has closed the previously announced acquisition of certain producing properties and undeveloped acreage in the Eagle Ford operating area in South Texas.  The company also closed on the previously announced divestiture of certain assets in its Altamont acreage in the Uinta Basin.

“We are pleased to deliver on an early achievement for the company under the new leadership team,” said Russell Parker, president and chief executive officer of EP Energy Corporation.  “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.  We are also pleased that our team has already integrated the newly acquired assets into our operations.  We now look to further optimize these assets and grow production.”

The aggregate cash paid for the acquired properties was approximately $245 million, subject to post-closing adjustments, while the divested properties generated estimated proceeds of approximately $180 million, also subject to post-closing adjustments.

EP Energy Corporation (NYSE:EPE) fell by -9.52% in the past week and -24.34% for the last 4 weeks. In the past week. EPE is down -36.67% in the last 3-month period. Year-to-Date the stock performance stands at -27.54% and there are 259.68M shares in outstanding.

EP Energy Corporation, an independent exploration and production company, engages in the exploration for and the acquisition, development, and production of oil, natural gas, and natural gas liquids in the United States. The company has interests in three primary areas, such as the Eagle Ford Shale located in South Texas; the Wolfcamp Shale located in Permian Basin in West Texas; and the Altamont Field located in the Uinta Basin in Northeastern Utah. As of December 31, 2016, it had proved reserves of 432.4 million barrels of oil equivalent and had average net daily production of 87,641 barrel of oil equivalent/per day. The company primarily sells its oil and natural gas production to third parties. EP Energy Corporation was founded in 2013 and is headquartered in Houston, Texas.

About the Author

Joseph Bender
Joseph Bender
Joseph Bender is a senior author and journalist of mostvolatilestocks.com, a leading stocks and markets website. He has more than 5 years of experience in institutional investment markets, including fixed income, equities, derivatives and real estate. Joseph has a Bachelor in Business Administration with a major in Finance. He bought his first stocks in a private business at age 15 and made his first public stock trade at 23. He has always been interested in the stock market and how it behaves. As the dad of two children, he’s made saving money and investing for them a high priority. Over many years of investing, he has made some wise choices and he’s made many mistakes. But he’s learned from both. Mr. Joseph observations and experience give him the insight to stock market patterns and the investor behaviors that create them. Email Contact - Joseph@mostvolatilestocks.com.

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