EP ENERGY CORPORATION (NYSE:EPE) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02 Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers
On March25, 2019, Mr.Giljoon Sinn notified EP Energy Corporation (the “Company”) of his resignation from the Company’s Board of Directors (the “Board”), effective Apri1 1, 2019. Mr.Sinn’s resignation was made at the direction of Korea National Oil Corporation (the “KNOC Sponsor”) in connection with a rotational assignment and did not result from a disagreement with the Company on any matter relating to the Company’s operations, policies or practices, including its controls or financial related matters.
to its director appointment rights under the Company’s Stockholders Agreement dated August30, 2013, the KNOC Sponsor designated Mr.Jae Hwii Gwag to replace Mr.Sinn on the Board, effective as of April1, 2019, which designation was approved by the Company’s Board. Mr. Gwag is also expected to serve on the Board’s Compensation and Governance& Nominating Committees. Mr.Gwag will not receive any compensation from the Company for serving on the Board.
About EP ENERGY CORPORATION (NYSE:EPE)
EP Energy Corporation (EP Energy) is an independent exploration and production company. The Company is engaged in the acquisition and development of unconventional onshore oil and natural gas properties in the United States. The Company operates through a diverse base of producing assets and are focused on creating value through the development of its drilling inventory located in four areas: the Eagle Ford Shale (South Texas), the Wolfcamp Shale (Permian Basin in West Texas), the Altamont Field in the Uinta Basin (Northeastern Utah) and the Haynesville Shale (North Louisiana). In its operating areas, it has identified approximately 5,710 drilling locations (including over 860 drilling locations to which it has attributed proved undeveloped reserves). The Company has proved reserves of approximately 546.0 million barrels of oil equivalent (MMBoe) and it has an average net daily production of over 109,680 barrel of oil equivalent per day (Boe/d).
