EP Energy requests six-month exclusivity extension to negotiate plan

By Caroline Salls

Pittsburgh, April 30 – EP Energy Corp. requested an extension of its exclusive periods for filing and soliciting votes on a Chapter 11 plan, according to a motion filed Thursday with the U.S. Bankruptcy Court for the Southern District of Texas.

EP Energy asked the court to extend its exclusive plan-filing period by six months to Oct. 31 and the solicitation period to Dec. 31.

Since the court vacated a previous plan confirmation order, the company said it has already made substantial progress toward an alternative path out of Chapter 11 by developing a new business plan, holding discussions with key stakeholders regarding a new plan of reorganization and taking steps to reduce costs during these challenging economic conditions.

However, EP Energy said it needs more time to negotiate and prosecute a new Chapter 11 plan.

The oil and natural gas exploration and production company is based in Houston. The company filed bankruptcy on Oct. 3 under Chapter 11 case number 19-35654.

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