- EP Energy (EPE +2.8%) is higher after yesterday's pair of transactions that swapped legacy assets for bolt-on Permian acreage, potentially adding ~475 drilling locations.
- EPE is buying Midland Basin producing properties and undeveloped acreage adjacent to existing operations, expanding its Wolfcamp position by ~25%, for $153M; it also is selling non-core assets in the Ark-La-Tex Cotton Valley and South Louisiana Wilcox areas for $150M.
- Howard Weil upgrades shares to Sector Outperform from Sector Perform and raises its price target to $28 from $26, saying the conventional Ark-La-Tex assets were mostly gas and were not receiving capital, and EPE is maintaining the deeper Haynesville rights (Briefing.com).
From other sites
at Nasdaq.com (Feb 26, 2015)
at Nasdaq.com (Jan 22, 2015)
at CNBC.com (Jan 13, 2015)
at Nasdaq.com (Dec 26, 2014)
at CNBC.com (Dec 15, 2014)
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