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 followed a comprehensive review by a special committee of independent members of EP Energy’s Board of Directors as well as extensive discussions with the Company’s creditors. The Company recently entered a plan support agreement for a comprehensive restructuring with a number of its key creditors. This plan support agreement will facilitate a plan of reorganization that will considerably strengthen the Company’s 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 was 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

DEADLINE TO FILE CLAIMS

The Bankruptcy Court has set the following deadlines for filing proofs of claim against the Debtors:

• General Claims Bar Date:  December 16, 2019
• Governmental Claims Bar Date: March 31, 2020

Click on the "Submit a Claim" link to download a proof of claim form and for more information regarding filing a claim against the Debtors.

FINAL ORDER ESTABLISHING NOTIFICATION PROCEDURES AND APPROVING RESTRICTIONS ON CERTAIN TRANSFERS OF STOCK OF DEBTORS

Upon the motion (the “Motion”) of EP Energy Corporation together with its debtor affiliates (the “Debtors”), the United States Bankruptcy Court for the Southern District of Texas (the “Bankruptcy Court”), having jurisdiction over the chapter 11 cases of the Debtors, captioned as In re EP Energy Corporation, et al., Case No. 19-35654 (the “Chapter 11 Cases”), entered a final order, effective as of October 4, 2019, establishing procedures (the “Stock Procedures”) with respect to direct and indirect trading and transfers of stock of the Debtors. 

The Stock Procedures restrict transactions involving, and require notices of the holdings of and proposed transactions by, any person or group of persons that is or, as a result of a proposed transaction, would become a Substantial Stockholder of the common stock issued by EP Energy Corporation (“Common Stock”).  For purposes of the Stock Procedures, a “Substantial Stockholder” is any person or, in certain cases, group of persons that beneficially own, directly or indirectly (and/or owns options to acquire) at least 12,100,000 shares of Common Stock (representing approximately 4.75% of all issued and outstanding shares of Common Stock).  Any transfer of the stock of the Debtors in violation of the Stock Procedures will be null and void ab initio and may lead to contempt, compensatory damages, punitive damages, or other sanctions being imposed by the Bankruptcy Court.

To view a copy of the Final Order, click here

PLAN & DISCLOSURE STATEMENT

On July 20, 2020, the Debtors filed their Disclosure Statement for Fifth Amended Joint Chapter 11 Plan.  On August 24, 2020, the Debtors filed the Modified Fifth Amended Joint Chapter 11 Plan.  On August 27, 2020, the Bankruptcy Court entered an order approving the Disclosure Statement and confirming the Plan.  On October 1, 2020, the Effective Date of the Plan occurred, and the Plan was consummated.  Please click on the link below to view the Plan & Disclosure Statement documents:

Plan & Disclosure Statement