Energy Partners Ltd. (NYSE:EPL)

EPL working interest in the Main Pass complex post-acquisition has been increased from approximately 33% to 50% in non-unitized areas and from approximately 13% to 43% in the unitized area within the Main Pass complex.

As of November 1, 2011, the company estimates that the Acquired Main Pass Interests had proved reserves of approximately 1.3
million barrels of oil equivalent, of which 96% were oil and 100% were proved developed producing reserves.

EPL recently announced the closing of the transaction to acquire oil and natural gas assets in the shallow-water central Gulf of Mexico (GOM) from a subsidiary of Stone Energy Corporation (Stone) for $38.4 million.

Founded in 1998, EPL is an independent oil and natural gas exploration and production company based in New Orleans, LA and Houston, TX. The Company's operations are concentrated in the shallow to moderate depth waters in the Gulf of Mexico focusing on the state and federal waters offshore Louisiana.

For more information about EPL please visit http://www.eplweb.com

Read the full article at: http://pennygovernance.com/?p=17208

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