Profile: EPL Oil & Gas Inc (EPL.N)
34.30USD
1 Aug 2013
$2.14 (+6.65%)
$32.16
$32.43
$35.50
$32.43
161,925
83,680
$35.50
$16.39
EPL Oil & Gas, Inc., formerly Energy Partners, Ltd., incorporated in January 29, 1998, is an independent oil and natural gas exploration and production company based in New Orleans, Louisiana and Houston, Texas. The Company’s operations are concentrated in the United States, Gulf of Mexico shelf focusing on state and federal waters offshore Louisiana, which it considers its core area. On February 14, 2011, the Company acquired an asset package consisting of certain shallow-water Gulf of Mexico shelf oil and natural gas interests surrounding the Mississippi River delta and a related gathering system (the ASOP Properties) from Anglo-Suisse Offshore Partners, LLC (ASOP). In April 2013, it sold certain non-operated assets.
As of December 31, 2010, the ASOP Properties had proved reserves of approximately 8.1 million barrels of oil equivalent (Mmboe), of which 84% were oil and 76% were proved developed reserves. Of these proved developed reserves, 88% were oil reserves. The ASOP Properties acquired in the ASOP Acquisition included 59 producing wells in three complexes; had average daily production of approximately 3,635 barrels of oil equivalent (Boe) per day for the period from February 14, 2011 to April 30, 2011; included 48,106 gross and 37,402 net acres, and included related gathering lines. During the three months ended March 31, 2011, it completed nine recompletion operations. In November 2011, the Company announced the acquisition of oil and natural gas assets in the shallow-water central Gulf of Mexico (GOM) from a subsidiary of Stone Energy Corporation (Stone).
The ASOP Properties comprise three producing complexes located in the Gulf of Mexico shelf region offshore Louisiana surrounding the Mississippi River delta. The West Delta complex, a legacy producing area, comprised approximately 60% of the ASOP Properties’ reserves at December 31, 2010 and is located 62 miles south, southeast of New Orleans. It contains 23 producing wells in water depths ranging from 29 to 87 feet and is comprised of five lease blocks. It operates the West Delta complex and owns a working interest of 100% of the acreage position in this area. The South Pass complex comprised approximately 14% of the ASOP Properties’ reserves at December 31, 2010, and is located 96 miles southeast of New Orleans. It contains four producing wells in water depths of approximately 300 feet and is comprised of one field. The South Pass complex is operated by Energy XXI, and it owns working interests ranging from 44% to 70% of the acreage position in this area. The Main Pass complex comprised approximately 26% of the ASOP Properties’ reserves at December 31, 2010, and is located 98 miles southeast of New Orleans. It contains 32 producing wells in water depths of approximately 250 feet and is comprised of two fields. The complex is operated by Apache, and Energy Partners, Ltd. owns a working interest of 33% of the acreage position in this area.
The Company operates geographically focused properties located in the Gulf of Mexico shelf. It owns an three-dimensional (3-D) seismic database that is primarily focused on its core area and covers approximately 11,700 square miles. In 2010, Energy Partners, Ltd. completed 19 workovers and drilled five sidetracks and five drill wells. As of December 31, 2010, the Company had working interests in 19 producing fields located in the Gulf of Mexico shelf region, including larger legacy fields and smaller fields, which includes its East Bay producing field on the southern flank of the Mississippi River delta; three producing fields in the vicinity of the Bay Marchand salt dome (the Greater Bay Marchand area) and in close proximity to each other, and 15 smaller producing fields offshore Louisiana.
The Company’s East Bay field comprised approximately 21% of its production during the year ended December 31, 2010, and 54% of its proved reserves at December 31, 2010. It is comprised of the South Pass 24 and 27 fields and is located 89 miles southeast of New Orleans, near the mouth of the Mississippi River. It contains 230 producing wells located along the coastline and in water depths ranging up to approximately 70 feet. It operates this field and owns an average 97% working interest in its acreage position in this area. The Company’s leasehold area covered 40,880 gross acres (39,586 net acres) as of December 31, 2010.
Energy Partners, Ltd’s Greater Bay Marchand area comprised approximately 52% of its production during 2010, and 35% of its proved reserves at December 31, 2010. Its key assets in this area include the South Timbalier 26 and 41 fields and the Bay Marchand field located approximately 60 to 72 miles south of New Orleans in water depths of 73 feet or less. It owns working interests ranging from 13% to 100% in the Greater Bay Marchand area. The Company operates the South Timbalier 26 and 41 blocks. The 15 smaller producing fields offshore Louisiana comprised approximately 16% of its production during 2010, and 8% of its proved reserves at December 31, 2010. These properties are located in water depths ranging from 18 to 225 feet with working interests ranging from 20% to 100%.
As of December 31, 2010, the Company also owned interests in 21 undeveloped blocks and one producing lease in the deepwater Gulf of Mexico area. These deepwater Gulf of Mexico properties comprised approximately 10% of its production during 2010, and 3% of its proved reserves at December 31, 2010. Energy Partners, Ltd’s working interests in its leases in this area ranged from 15% to 33%. During the year ended December 31, 2010, the Company completed 19 gross (16.2 net) recompletion operations of which 14 gross (11.2 net) were successful; 9 gross (6.4 net) exploratory drilling operations of which 7 gross (4.9 net) were successful, and one (gross and net) development well which was successful.
Company Address
EPL Oil & Gas Inc
Suite 1600, 919 Milam Street
HOUSTON TX 77002
P: +1713.2280711
F: +1302.6555049
Company Web Links
| Name | Compensation |
|---|---|
Gary Hanna |
2,600,020 |
Tiffany Thom |
1,124,920 |
David Cedro |
445,438 |
Andre Broussard |
894,746 |
W. Mac Jensen |
760,109 |

