Energy Partners, Ltd. has successfully drilled a new field discovery in West Cameron Block 210 in the Gulf of Mexico. The No. 1 well is located approximately 40 miles off the Louisiana coast in 56 feet of water and was drilled to a total depth of 10,343 feet (9,697 feet true vertical depth (TVD)). Hydrocarbons were encountered in two sand intervals with 68 feet (TVD) of apparent net natural gas pay. EPL owns a 50% working interest in the well and is the operator. Tana Exploration owns the remaining 50% working interest. The well is being completed as a single, with the primary completion in the deeper of the two productive intervals and a selective completion for the shallower interval. A caisson will be installed at the well location and plans are being developed to lay a pipeline to an existing third-party platform on a neighboring block for processing and sales. First production is expected late in the first quarter of 2003.
Commenting on EPL's drilling program, Richard A. Bachmann, EPL's Chairman, President and Chief Executive Officer commented, "We are very pleased with the results of our latest new field discovery at West Cameron Block 210. This moderate risk, moderate potential well is a good example of the kind of exploratory drilling opportunities we have in our current portfolio. This is the fifth successful well of seven exploratory wells drilled so far this year. Like our other successes this year, we expect to be able to have this well on production quickly, adding further to our 2003 production growth." Bachmann added, "Our drilling program continues in full swing. We have seven additional exploratory wells currently drilling and expect to begin drilling three more exploratory wells and one development well prior to year end."