EPL plans to use the net proceeds from this offering, together with the proceeds from its new revolving credit facility, to fund its tender offers for up to 8,700,000 issued and outstanding common shares at $23 per share and the $150 million principal amount of 8 3/4% Senior Notes due 2010, to refinance its existing revolving credit facility and to pay related fees and expenses.
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 Gulf of Mexico.
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