EP Energy has completed its sale to Verdun Oil Company II, LLC, a portfolio company of EnCap Investments, for approximately US$1.45 billion.
The Federal Trade Commission (FTC) conducted a lengthy antitrust investigation of the transaction, including issuing a “Second Request” for information and documents. Latham assisted EP Energy in navigating and resolving this complex regulatory process, allowing EP Energy to close the transaction. The FTC ultimately granted conditional clearance of the transaction, with the purchaser agreeing to divest a portion of EP Energy’s assets post-closing.
Latham & Watkins advises EP Energy Corporation in the transaction with a corporate deal team led by Houston partners Stephen Szalkowski and John Greer, with Houston associates Greg Sorensen, Morgan Moore, Brian Bruzzo, Thomas Verity, Denny Lee, and Ziyad Barghouthy, and New York associate Jake Weiner. The antitrust team was led by Washington, D.C. partners Jason Cruise and Lindsey Champlin and Washington, D.C. counsel Peter Todaro and Joseph Simei, with Washington, D.C. associates Caitlin Fitzpatrick, Doug Tifft, Mary Casale, Panya Baldia, Brian Goodell, and Ivy Ziedrich and New York associate Karen Kim.
Advice was also provided on tax matters by Houston partner Tim Fenn, with Houston associates Mike Rowe and Emily Fawcett; on benefits and compensation matters by Washington, D.C. partner Adam Kestenbaum; on environmental matters by Los Angeles counsel Joshua Marnitz; and on finance matters by Houston partner Pamela Kellet.