Case Background

On October 3, 2019, EP Energy announced that it has voluntarily filed petitions for chapter 11 reorganization in the U.S. Bankruptcy Court for the Southern District of Texas (the “Court”).

EP Energy will continue to operate as normal throughout this process, and has sufficient liquidity to support its operations.

EP Energy intends to use this process to reduce its debt significantly, strengthen its balance sheet and better position the Company for the long-term.

The decision to undertake this financial restructuring follows a comprehensive review by a special committee of independent members of EP Energy’s Board of Directors as well as extensive, ongoing discussions with the Company’s creditors. The Company has reached an agreement in principle on a comprehensive restructuring with a number of its key creditors. Over the coming days and weeks, EP Energy will continue working with its creditors and stakeholders to propose a plan of reorganization that will considerably strengthen its balance sheet and provide the financial flexibility to continue building the business through the current market environment.

The EP Energy Board and management team are confident in the strength of the Company’s assets and future of its business.

EP Energy’s case has been assigned to Judge Marvin Isgur and Case No. 19-35654. The Docket can be accessed at https://cases.primeclerk.com/EPEnergy or through the website maintained by the United States Bankruptcy Court for the Southern District of Texas.

Additional resources for vendors, royalty owners, lessors and other stakeholders is available on EP Energy’s restructuring website at www.EPEnergyRestructuring.com. Information is also available by calling 877-502-9869 (toll-free in the U.S.) or 917-947-2373 (for calls originating outside the U.S.) or sending an email to EPEnergyinfo@primeclerk.com.

Important Information & Dates

A hearing on the Debtors' First Day Motions was held on October 4, 2019 at 11:00 a.m. (CT). A Final Hearing on Certain of the First Day Motions will be held on November 7, 2019 at 1:30 p.m. (CT) before the Honorable Marvin Isgur, United States Bankruptcy Court for the Southern District of Texas (Houston Division), 515 Rusk Street, Courtroom 404, Houston, Texas 77002.  Please click below to view and download the Debtors' First Day Motions and Orders:

First Day Motions

First Day Orders

Dates

October
15

Hearing on Hedging Motio...

2:30 p.m. (CT)
November
6

Meeting of Creditors

3:00 p.m. (CT)
November
7

Final Hearing on First D...

1:30 p.m. (CT)
October
3
___________
October
15
2:30 p.m. (CT)
November
6
3:00 p.m. (CT)
November
7
1:30 p.m. (CT)

Final Hearing on First Day Motions

Parties

Debtors' Counsel

Weil, Gotshal & Manges LLP

700 Louisiana Street, Suite 1700
Houston, TX   77002
https://www.weil.com
Phone: 713.546.5000
Fax: 713.224.9511
Alfredo R. Perez

Weil, Gotshal and Manges LLP

767 Fifth Avenue
New York, NY   10153
https://www.weil.com
Phone: 212.310.8000
Fax: 212.310.8007
Matthew S. Barr
Ronit Berkovich
Scott R. Bowling
David J. Cohen

United States Trustee and Court Information

United States Bankruptcy Court, Southern District of Texas

515 Rusk Avenue
Houston, TX   77002
http://www.txs.uscourts.gov/offices/houston-division
Phone: 713.250.5500


Office of the United States Trustee

515 Rusk Street, Suite 3516
Houston, TX   77002
https://www.justice.gov/ust-regions-r07/region-7-southern-district-texas-houston-division
Phone: 713.718.4650
Fax: 713.718.4670


Debtors

Case Number
Debtor Name
Petition Date
19-35654 EP Energy Corporation October 03, 2019
19-35653 EPE Acquisition, LLC October 03, 2019
19-35652 EP Energy LLC October 03, 2019
19-35651 Everest Acquisition Finance Inc. October 03, 2019
19-35650 EP Energy Global LLC October 03, 2019
19-35649 EP Energy Management, L.L.C. October 03, 2019
19-35648 EP Energy Resale Company, L.L.C. October 03, 2019
19-35647 EP Energy E&P Company, L.P. October 03, 2019