- EP Energy (EPE) announces a drilling joint venture with Tesoro (TSO) to fund oil and natural gas development in EPE's Altamont program located in Utah's Uinta Basin.
- TSO agrees to purchase all oil produced through the JV, along with additional waxy crude oil produced by EPE in the Uinta Basin, to provide assured supply of local crude oil for TSO's Salt Lake City refinery.
- EPE expects the first of 60 wells anticipated in the venture to begin production in July; ithe company's average working interest in the JV wells is ~80%.