EPL Successful High Bidder on 22 Blocks in Central Gulf Lease Sale
Energy Partners, Ltd. was the apparent high bidder on 22 Outer Continental Shelf (OCS) blocks in the Central Gulf of Mexico Lease Sale 194 held by the Minerals Management Service (MMS).
EPL's share of its apparent high bids totals $15.1 million. All of the blocks are in water depths of less than 500 feet, and they cover a total of 85,000 gross acres (82,500 net acres).
Richard A. Bachmann, EPL's Chairman, President, and CEO, remarked,
"Today's lease sale was the most active lease sale ever for EPL, and
we are very pleased with our results. We and our partners were high
bidders on 22 of the 27 blocks we bid on, for an 80%-plus success
rate. 20 of those high bids are 100% EPL. If all the blocks are
awarded, this sale will increase our gross acreage on the Shelf by a
quarter, and our net acreage by a third compared to our year end 2004
position. We are excited that we continue to add to our inventory of
prospects and acreage, including in our core areas in East Bay and
- W&T Sells South Timbalier Stake to Energy Partners (May 15)
- Energy Partners Concludes Acquisition of GOM Properties (Feb 15)
- Energy Partners Regains Supplemental Waiver Status from MMS (May 03)