EPL enters deepwater GoM

Energy Partners Ltd. has finalized an agreement to acquire a 25% working interest in 23 undeveloped leases in the deepwater GoM from Noble Energy Inc.

Offshore staff

(US, GoM) - Energy Partners Ltd. has finalized an agreement to acquire a 25% working interest in 23 undeveloped leases in the deepwater GoM from Noble Energy Inc.

The agreement calls for a minimum of two exploratory wells in 2006, one of which is currently drilling, Mississippi Canyon 204 #1, located in 3,400 ft of water targeting the Redrock prospect.

EPL holds a 25% working interest in the well, which is presently at an intermediate casing point, and has the option to participate with a 25% working interest in all of the 13 currently identified prospects on the 23 leases.

02/24/06

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