EPL participated in bids on four blocks, and was the high bidder on all four blocks. The four blocks, North Padre A-28, Galveston 189, High Island A-306, and High Island A-315, are all on the Gulf of Mexico Shelf, in less than 500 feet of water, and EPL expects to be the operator of all the blocks. Together the blocks cover approximately 20,500 gross acres, or approximately 16,000 acres net to EPL's interest.
EPL's share of the successful bids totals approximately $4.6 million. All of the high bids are subject to review by the Minerals Management Service before they are awarded.
Founded in 1998, EPL is an independent oil and natural gas exploration and production company based in New Orleans, Louisiana. The Company's operations are focused along the U. S. Gulf Coast, both onshore in south Louisiana and offshore in the shallow to moderate depth waters of the Gulf of Mexico Shelf.
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