Energy Partners, Ltd (EPL) announced that the high risk, high potential onshore south Louisiana exploratory well, called La Posada in Vermilion Parish, which spud in third quarter of last year, has encountered mechanical difficulties prior to reaching its intended objectives. The operator, Petroquest Energy, Inc., which refers to this prospect as La Cantera, has suspended operations pending an evaluation of re-entering the existing wellbore or commencing drilling operations from a new location.
EPL's 2008 drilling program is now underway with the rig on location to spud its first exploratory well in the program, the moderate risk, moderate potential South Timbalier 46 (ST 46) #5 well. The ST 46 #5 (#A-3) well is expected to reach its intended objectives towards the end of the first quarter 2008. The Company plans to spud two additional moderate risk, moderate potential exploratory wells within the first quarter, including a well in Bay Marchand and a horizontal well in East Bay.
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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