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W&T Sells South Timbalier Stake to Energy Partners
W&T Offshore has sold its 40% working interest in South Timbalier 41 field located on the shelf of the Gulf of Mexico.
8:00 PM EST | May 14, 2012
Energy Partners Concludes Acquisition of GOM Properties
Energy Partners announced the closing of three transactions, including the acquisition of oil-weighted Gulf of Mexico shelf properties, closing of Senior Notes used to fund the acquisition and entry into a new credit facility.
7:00 PM EST | February 14, 2011
Energy Partners Regains Supplemental Waiver Status from MMS
Energy Partners reported it was recently informed by the Minerals Management Service (MMS) that it had regained supplemental waiver status.
8:00 PM EST | May 02, 2010
EPL Exits '09 Optimistic about Future Production Growth
"We have already seen the positive effects of our efforts in our production levels, which are projected to grow in the first quarter of 2010 over those realized in the fourth quarter of 2009," said Gary Hanna, CEO.
7:00 PM EST | March 10, 2010
EPL Reports 4Q Production, Rig Activity in GOM
Energy Partners had three rig operations underway in the fourth quarter 2009 on the Gulf of Mexico shelf.
7:00 PM EST | January 18, 2010
EPL Establishes Hedging Program
Energy Partners, Ltd. has established its first hedging program following its emergence from Chapter 11 bankruptcy proceedings.
8:00 PM EST | October 07, 2009
Energy Partners Limited Could be Facing Bankruptcy
Energy Partners disclosed in an 8-K filing that the company may be facing bankruptcy if unable to successfully negotiate a forbearance agreement with the bank lenders under its credit agreement.
8:00 PM EST | April 05, 2009
MMS Names SAFE Program Winners in Gulf of Mexico Region
The MMS has announced the 2008 District Safety Award for Excellence winners for the Gulf of Mexico region. The program recognizes those operating companies that conduct their operations in a safe manner, adhering to all regulatory requirements, etc.
8:00 PM EST | March 24, 2009
EPL Updates on New $45MM Borrowing Base, Down from $150MM
EPL was notified by the administrative agent for its bank lending group that the semi-annual re-determination of the borrowing base under its revolving credit facility was performed, resulting in a new borrowing base of $45 million.
8:00 PM EST | March 15, 2009
EPL Shuffles Management, Engages Chief Restructuring Officer
EPL has announced several management and governance changes, including the resignation of the company's Chairman and Chief Executive Officer.
8:00 PM EST | March 15, 2009
EPL's Board Waves Good-Bye to 4 Directors
EPL's Board of Directors has reduced the size of the Board from eleven to seven and accepted the resignations of four directors.
7:00 PM EST | February 22, 2009
EPL Exceeds Pre-Storm Levels after GOM Production Restored
EPL has provided an update on its production operations and preliminary information on its 2008 results.
7:00 PM EST | February 19, 2009
EPL Underscores Current Operations, Starts Up Deepwater GOM Production
EPL has provided an update on its production operations, including the commencement of the Company's first deepwater Gulf of Mexico production, the Raton gas well in Mississippi Canyon 248.
7:00 PM EST | January 13, 2009
EPL Reaffirms Borrowing Base at $150MM
Energy Partners, Ltd. has completed its customary semi-annual borrowing base redetermination, which has resulted in a reaffirmation of its borrowing base at $150 million.
7:00 PM EST | November 30, 2008
EPL Sees Success at East Bay Sidetrack, Looks to Start-Up Raton in GOM
EPL has drilled the seventh successful sidetrack this year with over 145 feet of net pay and four pay sands in its East Bay program, and expects to start-up production from its South Marsh Island asset in the late fourth quarter.
7:00 PM EST | November 05, 2008
EPL's Producing Properties in Gulf at 40% of Pre-Storm Levels
EPL noted that its producing properties in the Gulf of Mexico are at 40% of pre-storm levels, and the Company estimates that its third quarter production will average between 12,000 and 12,500 boepd.
8:00 PM EST | September 30, 2008
Energy Partners Says Hurricane Ike Impact Minimal
Energy Partners has completed an initial assessment of damage to its operated platforms in the Gulf of Mexico and indications are that some assets suffered minimal damage.
8:00 PM EST | September 17, 2008
EPL Suffers Minor Damage from Gustav, Prepares for Ike's GOM Entry
EPL reported that its GOM facilities suffered minor damage, such as missing equipment, from Hurricane Gustav, and the Company has resumed production as conditions have allowed. EPL is currently securing its assets in preparation of Ike.
8:00 PM EST | September 07, 2008
EPL Names New VP and Chief Operating Officer
Energy Partners named Steve Longon as Executive Vice President and Chief Operating Officer. Longon will oversee all aspects of EPL's operations, including exploration, drilling and production.
8:00 PM EST | July 14, 2008
Energy Partners Reports Net Income of $2.3 Million
For the first quarter of 2008, EPL reported net income of $2.3 million, or $0.07 per diluted share, compared to net income for the first quarter of 2007 of $3.7 million, or $0.09 per diluted share.
8:00 PM EST | May 07, 2008
EPL Completes Sale Of Two Shelf Properties
Energy Partners, Ltd. announced that on March 27, 2008 it had completed its previously announced sale of two Gulf of Mexico Shelf properties located within its Western offshore area for $16.2 million.
8:00 PM EST | April 03, 2008
EPL Announces Second Discovery This Year in Bay Marchand
With this second discovery, EPL has begun drilling its third well in its Bay Marchand field program. This field is located just north of EPL's South Timbalier 26 field.
8:00 PM EST | April 01, 2008
EPL Finds Bypassed Oil in East Bay Field, GOM
"Regarding the announcement today of our finding bypassed oil in the heart of this prolific field, we are encouraged more than ever that we are looking at a possible rejuvenation of this field."
8:00 PM EST | March 30, 2008
EPL High Bidder On 8 Leases
The eight high bid lease blocks cover a total of 37,448 acres on a gross basis, and include seven blocks on the Gulf of Mexico Shelf and one in deepwater located in the Missisippi Canyon area.
8:00 PM EST | March 19, 2008
EPL Discovers 'High Quality Oil Pay' in Greater Bay Marchand Area
Energy Partners, Ltd reported that in the Greater Bay Marchand area, the ST23 #CC-14st well, was drilled to a total depth of 10,247 feet and encountered apparent high quality oil pay in a single interval.
8:00 PM EST | March 19, 2008
Property Impairments Lead to Loss for EPL Shareholders
Five properties, located primarily in the Western area, experienced mechanical difficulties requiring significant capital to restore production, and accounted for over 60% of the impairments.
7:00 PM EST | February 27, 2008
EPL Drills 17 GOM Exploratory Wells in 2007
Of the 13 wells offshore, five were successful, and of the four wells onshore, one was successful.
7:00 PM EST | February 27, 2008
'Lack of Exploratory Drilling' Yields Low Reserve Replacement for EPL
The Company recorded 5.3 million Boe in negative revisions to its proved reserves in 2007, comprised of 4.1 million Boe of negative revisions for fields mainly in the Western offshore area that were impaired during 2007.
7:00 PM EST | February 27, 2008
EPL 2008 E&P Budget Approved for $200 Million
Energy Partners Ltd (EPL) currently has two moderate risk, moderate potential exploratory wells located on the Shelf underway, including the South Timbalier (ST) 46 #5 (A-3) well and the ST 23 CC-14st well located in Bay Marchand.
7:00 PM EST | February 27, 2008
MMS Awards EPL 4 Additional Leases for 2008
In total, the Company has been awarded seven of the eight leases on which it was high bidder from last year's lease sale at a total cost of $18.8 million, including six Shelf leases and one deepwater GOM lease.
7:00 PM EST | February 27, 2008
EPL Plans Western Offshore Sale for $16.2 Million
Energy Partners Ltd has entered into a definitive agreement to sell two non-operated properties located in its Western offshore area for $16.2 million in cash.
7:00 PM EST | February 27, 2008
EPL Reaches Resolution for 'Environmental Violations'
Under the agreement, the Company has paid a fine of $75,000 and has made a community service payment of $25,000 to the Louisiana State Police Right to Know Fund.
7:00 PM EST | February 21, 2008
EPL Suspends Operations at Onshore LA Well
Energy Partners, Ltd (EPL) announced that the high risk, high potential onshore south Louisiana exploratory well, called La Posada in Vermilion Parish has encountered mechanical difficulties.
7:00 PM EST | January 17, 2008
EPL Drills Gulf of Mexico Duster
Energy Partners says that the moderate risk, high potential Gulf of Mexico Shelf exploratory well, Eugene Island 21 #1 well reached its objective but failed to encounter hydrocarbons.
7:00 PM EST | November 28, 2007
EPL Increases 2007 Capital Budget by $50 Million; Approves 2008 Budget
EPL's Board approved an increase in the 2007 capital budget from $300 million to $350 million. As previously indicated, the increased expenditures are being used to fund development costs as a result of exploration success.
7:00 PM EST | November 28, 2007
Energy Partners Reports 3Q07 Loss
EPL Reported 3Q 2007 Loss and two discovery wells, including one on the GoM Shelf in West Cameron 141 and one located onshore south Louisiana in Terrebonne Parish.
7:00 PM EST | November 07, 2007
EPL Completes Exchange Offer for Fixed & Floating Rate Senior Notes
EPL has completed exchange offer for its fixed and floating rate Senior Notes.
7:00 PM EST | November 04, 2007
EPL Extends Offer for Its Existing Fixed & Floating Rate Senior Notes
Energy Partners has extended its pending offer for fixed and floating rate Senior Notes by four days.
8:00 PM EST | October 29, 2007
Energy Partners Kicks Off Production at Cap Rock
EPL's South Timbalier 41 #B-3st, Cap Rock discovery has begun production at a rate of 1,900 barrels of oil and 18 million cubic feet of gas per day.
8:00 PM EST | October 10, 2007
EPL High Bidder on Eight Leases at Central Gulf of Mexico Lease Sale
Energy Partners was the high bidder on eight leases at the Central Gulf of Mexico Lease Sale 205 held yesterday in New Orleans, LA.
8:00 PM EST | October 03, 2007
EPL's President and COO Retires, and Names New Executive VP and CFO
Energy Partners' Phillip A. Gobe is retiring as President and Chief Operating Officer and Joseph T. Leary comes on as Executive Vice President and Chief Financial Officer.
8:00 PM EST | August 21, 2007
EPL Provides Update on Drilling Operations
Energy Partners says the well being drilled on its Cap Rock prospect has encountered the upper-portion of the intended objectives, discovering 70 feet of high quality oil and natural gas pay in five sands.
8:00 PM EST | July 31, 2007
EPL Names Steve Longon as Senior VP of Drilling & Engineering
Energy Partners reports that Steve Longon has joined EPL as Senior Vice President - Drilling and Engineering.
8:00 PM EST | July 08, 2007
EPL Divests South Louisiana Assets
Energy Partners, Ltd. (EPL) on Tuesday completed its previously announced sale of substantially all of its onshore South Louisiana assets to a privately held operator for $71.7 million effective April 1, 2007.
8:00 PM EST | June 12, 2007
EPL Retains Law Firm to Investigate Possible East Bay Violations
Energy Partners, Ltd. has retained the law firm of Jones, Walker, Waechter, Poitevent, Carrere & Denegre, L.L.P. to conduct an independent investigation into possible environmental violations at the Company's East Bay field.
8:00 PM EST | June 07, 2007
EPL to Divest Onshore South La. Assets
Energy Partners, Ltd. (EPL) on Monday announced a definitive agreement to sell substantially all of its onshore South Louisiana assets to a privately held onshore operator for a consideration of $71.7 million in cash.
8:00 PM EST | June 03, 2007
EPL Starts Producing Ahead of Scheduled at South Timbalier 46 Field
Energy Partners, Ltd. reports that the South Timbalier 46 field commenced production ahead of schedule on May 14, 2007, and is currently producing natural gas at a rate of 25 million cubic feet per day with associated liquids.
8:00 PM EST | May 17, 2007
EPL Completes Cash Tender Offer
Energy Partners, Ltd. (EPL) on Friday announced the completion of its previously announced cash tender offer to purchase any and all of its outstanding 8 3/4% Senior Notes due 2010 (CUSIP No. 29270UAC9) and related consent solicitation.
8:00 PM EST | May 03, 2007
EPL Posts Lower Q1 Earnings
Energy Partners, Ltd. EPL on Thursday reported financial and operational results for the first quarter of 2007. The Company also announced a recent discovery on the Gulf of Mexico Shelf (Shelf) in West Cameron 252.
8:00 PM EST | May 02, 2007
Energy Partners Closes Private Placement
Energy Partners reports that about 39 million shares were tendered for $23 per share in a cash tender offer that expired April 23rd. This represents approximately 97% of the issued and outstanding common shares of EPL.
8:00 PM EST | April 23, 2007