HOUSTON, Nov. 16, 2016 /PRNewswire/ -- EP Energy LLC
("EP Energy"), a wholly-owned subsidiary of EP Energy Corporation
(NYSE: EPE), today announced that it and its wholly-owned
subsidiary, Everest Acquisition Finance Inc., as co-issuer
(together with EP Energy, the "Issuers"), intend to offer
$350.0 million aggregate principal
amount of its Senior Secured Notes due 2023 (the "Notes") in a
private placement.
The Issuers intend to use the proceeds from the offering of the
Notes (i) to repay amounts outstanding under their senior
reserve-based revolving credit facility and/or for other general
corporate purposes and (ii) to pay related fees and expenses.
Additional Information
The Notes are being offered in a private offering that is exempt
from the registration requirements of the Securities Act of 1933,
as amended (the "Securities Act"), only to qualified institutional
buyers in reliance on Rule 144A under the Securities Act, and
outside the United States, only to
non‐U.S. investors pursuant to Regulation S. The Notes have not
been registered under the Securities Act or any state securities
laws and may not be offered or sold in the United States absent an effective
registration statement or an applicable exemption from registration
requirements or a transaction not subject to the registration
requirements of the Securities Act or any state securities
laws.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy any security and shall not
constitute an offer, solicitation or sale in any jurisdiction in
which such offering, solicitation or sale would be unlawful.
About EP Energy
The EP Energy team has a passion for finding and producing the
oil and natural gas that enriches people's lives. As a leading
North American oil and natural gas producer, EP Energy has a proven
strategy, a significant reserve base, multi-year drilling
opportunities, and a strategic presence in a number of the
country's leading unconventional resource areas. EP Energy is
active in key phases of the E&P value chain—acquiring,
developing and producing oil and natural gas. For more information
about EP Energy, visit epenergy.com.
Cautionary Statement Regarding Forward-Looking
Statements
This release includes certain forward-looking statements and
projections of EP Energy. We have made every reasonable effort to
ensure that the information and assumptions on which these
statements and projections are based are current, reasonable, and
complete. However, a variety of factors could cause actual results
to differ materially from the projections, anticipated results or
other expectations expressed, including, without limitation, EP
Energy's ability to complete the offering of the Notes, the
volatility of and current sustained low oil, natural gas and NGL
prices, the supply and demand for oil, natural gas and NGLs;
changes in commodity prices and basis differentials for oil and
natural gas; EP Energy's ability to meet production volume targets;
the uncertainty of estimating proved reserves and unproved
resources; the future level of service and capital costs; the
availability and cost of financing to fund future exploration and
production operations; the success of drilling programs with regard
to proved undeveloped reserves and unproved resources; EP Energy's
ability to comply with the covenants in various financing
documents; EP Energy's ability to obtain necessary governmental
approvals for proposed E&P projects and to successfully
construct and operate such projects; actions by the credit rating
agencies; credit and performance risk of our lenders, trading
counterparties, customers, vendors and suppliers; general economic
and weather conditions in geographic regions or markets served by
EP Energy, or where operations of EP Energy are located, including
the risk of a global recession and negative impact on oil and
natural gas demand; the uncertainties associated with governmental
regulation, including any potential changes in federal and state
tax laws and regulations; and other factors described in EP
Energy's Securities and Exchange Commission filings. While
EP Energy makes these statements and
projections in good faith, neither EP Energy nor its management can
guarantee that anticipated future results will be achieved.
Reference must be made to those filings for additional important
factors that may affect actual results. EP Energy assumes no
obligation to publicly update or revise any forward-looking
statements made herein or any other forward-looking statements made
by EP Energy, whether as a result of new information, future
events, or otherwise.
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SOURCE EP Energy Corporation