EPL has three exploratory successes

Dec. 3, 2003
Energy Partners Ltd. (EPL) has made three exploratory discoveries on the Gulf of Mexico shelf. The first, the East Cameron 44 No. 2 well, is 180 mi west-southwest of New Orleans in 47 ft of water. EPL drilled the well as a straight hole to 7,850 ft and encountered 10 ft of apparent natural gas pay in a single interval.

Energy Partners Ltd. (EPL) has made three exploratory discoveries on the Gulf of Mexico shelf. The first, the East Cameron 44 No. 2 well, is 180 mi west-southwest of New Orleans in 47 ft of water. EPL drilled the well as a straight hole to 7,850 ft and encountered 10 ft of apparent natural gas pay in a single interval. The company has cased and suspended the well and the drilling rig has moved off location. EPL plans to complete the well with another rig in 1Q 2004, and initial production is expected in the first half of 2004. EPL is the operator of this well and holds a 100% working interest.

The second success, the High Island 55L No. 4 well, is 65 mi east-southeast of Houston in 45 ft of water. EPL drilled the well directionally to 8,077 ft TVD and encountered 58 ft of apparent natural gas pay in two intervals. After the company has cased the well, Vintage Petroleum, the operator, plans to drill the second of a three-well program on the block. The company will tie-back the No. 4 well to an existing platform, and expects initial production in the first half of 2004. Vintage owns a 65% working interest in the well and EPL owns a 35%.

Mesa Verde East prospect, the third success, is in 8 ft of water in EPL's East Bay field. This field is 80 mi southeast of New Orleans at the mouth of the Mississippi River. The company drilled the well as a straight hole to 13,900 ft TVD and encountered 37 ft of apparent natural gas pay in two intervals. EPL expects initial production by the first quarter of 2004. EPL has plans for a number of additional exploratory wells in the Mesa Verde area in 2004. EPL operates the well with 67% working interest and Newfield Exploration owns 33%.

"These last three discoveries brings us to 13 successes of 15 total exploratory wells drilled in 2003," Richard A. Bachmann, chairman, president, and CEO said. "We currently have an additional seven exploratory wells in progress and plan to spud two more before the end of the year."

12/03/03