3st Cap Rock Discovery Well NEW ORLEANS--(BUSINESS WIRE)--October 11, 2007 Energy Partners, Ltd. (NYSE: EPL) ("EPL" or the "Company") today reported that its South Timbalier 41 #B-3st (ST 41 #B-3st) Cap Rock discovery well has been brought on line, and is producing at a rate of approximately 1,900 barrels of oil and 18 million cubic feet of gas per day or 4,900 barrels of oil equivalent per day with 5,540 psi flowing tubing pressure. Prior to the well's completion, the ST 41 #B-3st was drilled deeper to test additional sand targets but did not encounter pay at the lower depths. EPL is the operator with a 60% working interest, and W&T Offshore Inc (NYSE:WTI) holds the remaining 40% working interest. Richard A. Bachmann, EPL's Chairman and Chief Executive Officer, said, "Today's announcement regarding our ST 41 #B-3st Cap Rock discovery and its very strong production rate marks eleven discoveries to date and 100% success rate in this prolific South Timbalier area. Our success here validates our desire to further evaluate other identified opportunities at ST 41 as well as in our 100% owned ST 46 recent discovery block and additional 100% EPL owned acreage in the area." Founded in 1998, EPL is an independent oil and natural gas exploration and production company based in New Orleans, Louisiana. The Company's operations are focused along the U. S. Gulf Coast, both onshore in south Louisiana and offshore in the Gulf of Mexico. 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 or anticipates will or may occur in the future are forward-looking statements. These include statements regarding: -- reserve and production estimates; -- oil and natural gas prices; -- the impact of derivative positions; -- production expense estimates; -- cash flow estimates; -- future financial performance; -- planned capital expenditures; and -- other matters that are discussed in EPL's filings with the Securities and Exchange Commission. These statements are based on current expectations and projections about future events and involve known and unknown risks, uncertainties, and other factors that may cause actual results and performance to be materially different from any future results or performance expressed or implied by these forward-looking statements. Please refer to EPL's filings with the SEC, including Form 10-K for the year ended December 31, 2006 and Form 10-Q for the quarter ended June 30, 2007, for a discussion of these risks. 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. CONTACT: Energy Partners, Ltd. T.J. Thom, 504-799-4830 or Al Petrie, 504-799-1953
EPL Announces First Production from the South Timbalier 41 #B-
Press spacebar to pause and continue. Press esc to stop.