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- EP Energy
EP Energy Acquisition, Valuation, Funding & Investors
EP Energy was acquired by Verdun Oil Company for $1.4B in July 2021.
EP Energy acquisition price
$1.4B
Acquired by Verdun Oil Company · Jul 2021
Cumulative funding EP Energy raised
$300M
across 1 funding round
Key investors in EP Energy
China Investment Corporation
EP Energy Overview
About EP Energy
EP Energy is an independent oil and natural gas exploration and production company based in Houston, Texas, formed from the exploration and production business of El Paso Corporation. An investor group led by Apollo Global Management and Riverstone Holdings, with Access Industries, bought the business for about $7.15 billion in 2012 after Kinder Morgan agreed to acquire El Paso. The company held unconventional acreage in the Eagle Ford Shale of South Texas, the Wolfcamp formation of the Permian Basin and the Altamont field in Utah's Uinta Basin, and earlier also had Haynesville, Raton Basin, Gulf of Mexico, Brazilian and Egyptian interests that it later sold. It earns revenue by producing and selling crude oil, natural gas and natural gas liquids. EP Energy listed on the New York Stock Exchange in 2014, filed for Chapter 11 protection in October 2019 and emerged in October 2020 owned by its former creditors. In July 2021 Verdun Oil Company II, an EnCap-backed producer under common management with XCL Resources, agreed to buy EP Energy for $1.4 billion; the deal closed in March 2022 after the FTC required the Utah business to be divested to Crescent Energy.
HQ
Website
Status
Acquired
Customer focus
B2B
Revenue model
Product sales
Valuation
$1.4B (acquired Jul 2021)
Sectors
EP Energy Acquisition
EP Energy was acquired by Verdun Oil Company for $1.4B on 26 July 2021.
Before the acquisition EP Energy had raised $300M across 1 funding round.
Verdun Oil Company II agreed on 26 July 2021 to acquire EP Energy in a $1.4 billion transaction, executing a purchase agreement with EP Energy and XCL Resources, a Utah producer under common management with Verdun. Both buyers were backed by the energy private equity firm EnCap Investments, and EP Energy was at the time owned by its former creditors after emerging from Chapter 11 in October 2020. The Federal Trade Commission found that the deal would reduce the number of significant producers of waxy crude in Utah's Uinta Basin from four to three, and in March 2022 it required EnCap to divest EP Energy's entire Utah business to Crescent Energy as a condition of approval. Verdun and XCL completed the acquisition on 30 March 2022, with Verdun taking EP Energy's Eagle Ford operations in Texas. In January 2025 XCL, Verdun and EP Energy agreed to pay a record $5.6 million civil penalty to settle FTC allegations that they had coordinated EP Energy's operations before the waiting period expired. EP Energy is a Houston-based oil and natural gas producer formed from El Paso Corporation's exploration and production business.
| Acquirer | Date | Type | Price |
|---|---|---|---|
| 26 Jul 2021 | Strategic M&A | $1.4B |
EP Energy Funding History
EP Energy has raised a total of $300M across 1 funding round.
EP Energy funding rounds
| Date | Stage | Investors | Raised | Deal Summary |
|---|---|---|---|---|
| May 2012 | Strategic investment | China Investment Corporation | $300M | CIC invested growth capital in EP Energy following the creation of the independent exploration and production company from El Paso assets. The disclosed ownership position was 9.9%. The transaction materials disclosed USD 300 million as capital raised or CIC-attributed investment. The target operates in Oil & Gas, serving B2B customers through Product sales economics. CIC participated as a long-term institutional investor, and the transaction expanded its direct exposure to the target's operating sector and geography. The company profile reflects the business at the transaction date, including a historical identity where later reorganizations changed the name or ownership structure. Ordinary listed-market portfolio accumulation, debt instruments without immediate ownership, fund commitments, and property assets without an operating-company target are excluded from this research set. |
Who has invested in EP Energy?
1 investor has backed EP Energy across its funding rounds, including China Investment Corporation.
EP Energy Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
This data is available for Pro users. Sign up to see all 1 EP Energy investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialAcquisitions by EP Energy
EP Energy has acquired 1 company to date.
Last acquisition by EP Energy was on December 14th 2017. EP Energy acquired Carrizo Oil & Gas (Eagle Ford assets) for $245M.
Latest Acquisitions by EP Energy
| Description | Carrizo Oil & Gas (Eagle Ford assets) is a package of producing oil and gas properties and undeveloped acreage in the Eagle Ford Shale of South Texas, located primarily in LaSalle County. The position covered approximately 24,500 net acres and was about 95% operated. During the third quarter of 2017 the properties produced approximately 3,400 barrels of oil equivalent per day on a three-stream basis. The assets were owned by Carrizo Oil & Gas, Inc., a Houston-based independent exploration and production company, until their sale to EP Energy in 2018. The acreage lay adjacent to EP Energy's existing Eagle Ford operations and added about 200 future horizontal drilling locations to that company's inventory. Revenue from the properties comes from the sale of the crude oil, natural gas and natural gas liquids they produce. |
| HQ Country | |
| HQ City | - |
| Deal Date | 14 Dec 2017 |
| Valuation | $245M |
| EV/Revenue | |
| EV/EBITDA | |
This data is available for Pro users. Sign up to see all EP Energy acquisitions and their M&A valuation multiples. Start Free Trial | |
EP Energy Competitors
EP Energy competitors include listed companies like Nordic American Tankers, Beach Energy, WaterBridge Infrastructure and United Energy Group, and private ones like Peace River Oil Partnership and Port Arthur LNG Phase 1.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Publicly listed | $292M | $103M | $1.4B | 5.5x | ||
| Publicly listed | $1.3B | $599M | $1.4B | 1.3x | ||
| Publicly listed | $526M | $211M | $1.4B | 4.8x | ||
| Publicly listed | $2.4B | $809M | $1.4B | - | ||
| Private | - | - | $1.8B | - | ||
| Private | - | - | $976M | - |
EP Energy Public Comps
EP Energy is no longer listed, but its public comps include Nordic American Tankers, Beach Energy, WaterBridge Infrastructure, United Energy Group, Parex Resources, Tsakos Energy Navigation, Dorchester Minerals, Greenfire Resources, Expro and BlueNord.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $292M | $103M | 5.8x | 5.5x | 16.3x | 8.0x | |||
| $1.3B | $599M | 1.3x | 1.3x | 2.9x | 2.3x | |||
| $526M | $211M | 8.1x | 4.8x | 20.1x | 9.1x | |||
| $2.4B | $809M | 0.6x | - | 1.8x | - | |||
| $1B | $434M | 2.0x | 1.3x | 4.7x | 2.5x | |||
| $799M | $419M | 3.5x | 3.0x | 6.7x | 4.3x | |||
| $153M | $124M | 8.5x | - | 10.5x | - | |||
| $431M | $129M | 3.2x | 2.5x | 10.6x | 9.5x | |||
This data is available for Pro users. Sign up to see all EP Energy competitors and their valuation data. Start Free Trial | ||||||||
Common questions about EP Energy
| Where is EP Energy headquartered? | EP Energy is headquartered in Houston, United States. |
| Is EP Energy publicly listed? | No, EP Energy was acquired by Verdun Oil Company in July 2021. |
| Who acquired EP Energy? | EP Energy was acquired by Verdun Oil Company in July 2021. |
| How much was EP Energy acquired for? | EP Energy was acquired for $1.4B in July 2021. |
| How much funding has EP Energy raised? | EP Energy has raised $300M across 1 funding round. |
| What was EP Energy's last funding round? | EP Energy's last funding round was a $300M strategic investment round in May 2012. |
| Who are EP Energy's investors? | EP Energy's investors include China Investment Corporation. |
| Which companies are comparable to EP Energy? | Companies comparable to EP Energy include Nordic American Tankers, Beach Energy, WaterBridge Infrastructure, United Energy Group, Peace River Oil Partnership and Port Arthur LNG Phase 1. |
| How many companies has EP Energy acquired? | EP Energy has acquired 1 company, including Carrizo Oil & Gas (Eagle Ford assets). |
| What was the largest acquisition by EP Energy? | The $245M acquisition of Carrizo Oil & Gas (Eagle Ford assets) in December 2017 is the largest acquisition EP Energy has made to date. |
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