EP Energy is into the (E)xploration and (P)roduction of hydrocarbon energy (oil and gas) in the Eagle Ford Shale and Wolfcamp Shale in Texas and the Altamont Field in Utah. The company reported proved reserves of 546 million barrels of oil equivalent in 2015, about half of which is oil and NGLs. In 2012 the former El Paso Corporation sold its exploration and production assets to an investor group led by Apollo Global Management and Riverstone Holdings for $7.2 billion; a new company emerged as EP Energy. (El Paso Corporation was ultimately bought by Kinder Morgan.)