The eight high bid lease blocks cover a total of 40,760 acres on a gross basis, and include seven blocks on the Gulf of Mexico Shelf and one in deepwater. EPL's share of the high bids totals $19.2 million.
Richard A. Bachmann, EPL's Chairman and CEO commented, "This lease sale was a long awaited one, and we are pleased that we were successful with high bids within our core areas, including two leases in our highly successful South Timbalier area and a deepwater lease that enhances our existing portfolio."
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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