|Day's Range||82.41 - 84.19|
|52 Week Range||69.49 - 93.06|
|PE Ratio (TTM)||13.85|
|Dividend & Yield||2.20 (2.64%)|
|1y Target Est||N/A|
U.S. oil and gas producer EP Energy Corp and refiner Tesoro Corp on Wednesday announced a joint venture to drill 60 wells in the Uinta basin in Utah. Tesoro will buy all the oil produced from the wells and provide capital for a 50 percent stake in EP Energy's working interest in the wells, the companies said. The company has expanded its Salt Lake City refinery and needs more crude oil to supply it.
The currently unstable refining environment has resulted in volatile refining earnings for big US refiners like MPC, VLO, TSO, and PSX.
Tesoro will buy all the oil produced from the wells and provide capital for a 50 percent stake in EP Energy's working interest in the wells.