May 24 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 also signed a multi-year crude oil supply
agreement for yellow and black waxy crude oil to supply Tesoro's
Salt Lake City refinery.
(Reporting by John Benny in Bengaluru; Editing by Sai Sachin