EP Energy 2021 Budget GUIDANCE $370 Million

EP Energy 2021 budget GUIDANCE $370 million and reported production of 51,000 barrels of oil equivalent (BOE) per day.

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Lateral Completions Dissolvable Frac Plug


– Price Deck: $55 WTI & $2.75 Henry Hub
– Production: 46,000-51,000 Boe/d (64% oil)
– Capital Expenditures excluding Acquisitions and Capitalized G&A: $335MM – $370MM
– Drilling and Completion capital 90%
– Based on approximately two rigs running in Northeast Utah (“NEU”) and one-half rig in

EP Energy 2021 Budget Eagle Ford
• Unhedged Adj. EBITDAX excluding G&A of $495MM – $555MM
• Unhedged Free Cash Flow excluding G&A & Interest of $160MM – $190MM
• Year-end 2021 Expected Net Debt of $65-95MM

President and Chief Executive Officer Russell Parker stated about the EP Energy 2021 Budget, “We have a very stable business plan that will lead to consistent free cash flow generation and continued very low leverage. The strength of our balance sheet coupled with our oil-weighted, long-life assets allows us to modestly grow both equivalent
and oil production while maintaining consistent free cash flow generation. We continue to see exceptional
results in NEU where we are continuing to materially reduce well costs. I am very proud of our team’s
performance in being a safe, reliable, low-cost operator.”

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About EP Energy Corporation

The Company focuses on enhancing the value of its high quality asset portfolio, increasing capital
efficiency, maintaining financial flexibility, and pursuing accretive acquisitions and divestitures. EP Energy
is working to set the standard for efficient development of hydrocarbons in the U.S. Learn more at

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