EPL Drills Gulf of Mexico Duster
Energy Partners says that the moderate risk, high potential Gulf of Mexico Shelf exploratory well, Eugene Island 21 #1 well was drilled to its objective section and encountered sand, but did not see commercial hydrocarbons. The Company will recognize dry hole expense of $4.6 million in the fourth quarter of 2007 in connection with the 100% EPL owned well.
EPL is currently drilling two other high potential exploratory wells, including one on the Shelf and one onshore in south Louisiana. On the Shelf, the Company is drilling the moderate risk, high potential South Timbalier 214 #2 well. The well is currently at 13,850 feet, headed to an intended total depth of 17,500 feet. EPL holds a 50% working interest in the well. The Company is also currently drilling a high risk, high potential well called La Posada in Vermilion Parish. The well is currently at 15,900 feet, headed to an intended total depth of 19,300 feet. EPL holds a 19% working interest in this prospect.
- 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)