Energy Partners marketing GoM shelf assets for sale

Offshore staff

NEW ORLEANS --Energy Partners Ltd. (EPL) is actively marketing its Gulf of Mexico shelf assets for sale. The assets were included in a divestiture package with its onshore south Louisiana properties, which it has been marketing.

Today, an unnamed operator agreed to purchase EPL's onshore assets for $71.7 million in cash. The deal is expected to close mid-month.

"We are very pleased to have received this compelling offer, which encouraged us to break out the onshore portion of our divesture package to accommodate the sale," says Richard A. Bachmann, EPL chairman and CEO. "We will now begin separately marketing the balance of our divesture package which is comprised entirely of GoM shelf assets."

6/4/2007