EPL Announces Recently Placed Hedging Program

NEW ORLEANS--(Business Wire)--
Energy Partners, Ltd. (NYSE:EPL) (the Company) announced that it has established
its first hedging program following its emergence from Chapter 11 bankruptcy
proceedings with the purchase of crude oil floors and the placement of swap
contracts that cover the period from October 2009 to December 2011. The recently
completed commodity risk management program has met the conditions of the
hedging requirements under the Company`s credit facility. The volumes hedged in
the fourth quarter of 2009 average approximately 2,788 barrels of oil (bbl) per
day, representing approximately 58% to 70% of that quarter`s estimated oil
production. The majority of the volume hedged in the fourth quarter 2009 is in
the form of puts with a floor of $60/bbl. For full year 2010 and 2011, the total
volume hedged averages approximately 2,722 bbls per day, of which the majority
is comprised of swaps with an average NYMEX price of $70.02/bbl.

The complete schedule of the Company`s current hedging program can be found on
the Company`s website at www.eplweb.com in the Investor Relations section of the
site.

Description: Founded in 1998, EPL is an independent oil and natural gas
exploration and production company based in New Orleans, LA and Houston. The
Company's operations are primarily located in the Gulf of Mexico shelf. For more
information, please visit www.eplweb.com.

Forward-Looking Statements

This press release may contain forward-looking information and statements
regarding EPL. Any statements included in this press release that address
activities, events or developments that EPL expects, believes, plans, projects,
estimates or anticipates will or may occur in the future are forward-looking
statements. We believe these judgments are reasonable, but actual results may
differ materially due to a variety of important factors. Among other items, such
factors might include: changes in general economic conditions; uncertainties in
reserve and production estimates; unanticipated recovery or production problems;
hurricane and other weather-related interference with business operations; the
effects of delays in completion of, or shut-ins of, gas gathering systems,
pipelines and processing facilities; oil and natural gas prices and competition;
the impact of derivative positions; production expenses and expense estimates;
cash flow and cash flow estimates; future financial performance; planned and
unplanned capital expenditures; and other matters that are discussed in EPL's
filings with the Securities and Exchange Commission.

Additional Information and Where to Find It

Security holders may obtain information regarding the Company from EPL's website
at www.eplweb.com, from the Securities and Exchange Commission's website at
www.sec.gov, or by directing a request to: Energy Partners, Ltd. 201 St. Charles
Avenue, Suite 3400, New Orleans, Louisiana 70170, Attn: Secretary, (504)
569-1875.

Energy Partners, Ltd.
Investors:
T.J. Thom, 504-799-1902
Principal Financial Officer
tthom@eplweb.com
or
Media:
Jeremy Jacobs/Jed Repko
Joele Frank, Wilkinson Brimmer Katcher
212-355-4449

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