EPL Completes Sale Of Two Shelf Properties
Energy Partners, Ltd. announced that on March 27, 2008 it had completed its previously announced sale of two Gulf of Mexico Shelf properties located within its Western offshore area for $16.2 million effective January 1, 2008. As of the effective date, the estimated proved reserves represented less than 1% of the Company's proved reserves and a recent average production rate net to the Company of less than 2% of fourth quarter 2007 average production. After preliminary closing adjustments for the closing dates of March 26, 2008 and March 27, 2008, the cash proceeds received totaled approximately $15.0 million.
- 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)