Houston-based EP Energy said Dec. 11 it has reached agreement with an undisclosed buyer to divest its Midland Basin southern assets to focus on operations in Eagle Ford and Uinta Basin. Transaction is expected to close in January. After the sale, EP Energy will own about 410,000 gross (275,000 net) acres in east Utah and south Texas with average production of 48,400 boed and 31,600 b/d of oil. Russell Parker, president and CEO, said, “We are very pleased to announce this transaction that enables EP Energy to core up its portfolio and significantly reduce debt.”