Energy Partners (EPL) Completion of Oil Weighted Acquisition

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Uploaded on November 19, 2011 by karmastock

Welcome to CRWENewswire, Stocks to Watch. I am Shalika Jayasekera. Energy Partners Limited - symbol EPL -, an independent oil and natural gas exploration and production company, reported the closing of the transaction to acquire oil and natural gas assets in the shallow-water central Gulf of Mexico, in the Main Pass area, from a subsidiary of Stone Energy Corporation. As a result, Energy Partners’ working interest in the Main Pass complex post-acquisition has been increased from approximately 33% to 50% in non-unitized areas and from approximately 13% to 43% in the unitized area within the Main Pass complex. As of November 1, 2011, the company estimates that the Acquired Main Pass Interests had proved reserves of approximately 1.3 million barrels of oil equivalent, of which 96% were oil and 100% were proved developed producing reserves. Thanks for joining me and have a great day! For CRWE Newswire, Stocks to watch, I’m Shalika Jayasekera

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NYSE:EPL, EPL, Energy Partners Ltd, News & Events
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