Offshore staff
NEW ORLEANS -- Energy Partners Ltd. was the high bidder on eight leases at the Central Gulf of Mexico lease sale in New Orleans. The eight high bid lease blocks cover a total of 37,448 acres, and include seven blocks on the GoM Shelf and one in deepwater located in the Missisippi Canyon area. The seven high bid blocks on the Shelf are all located in EPL's core focus area and include three South Timbalier, two Grand Isle, and two West Delta blocks. EPL's share of the high bids totals $4.7 million.
The company also announced that its South Timbalier 46 No. 5 (A-3) well, was drilled to its objective section to the northeast of the initial discovery area and encountered sands, but did not see commercial hydrocarbons.
In the Greater Bay Marchand area, the ST23 CC-14st well, was drilled to a TD of 10,247 ft (3,123 m) and encountered apparent high quality oil pay in a single interval. The well, which was a moderate risk, moderate potential well, is expected to be online in 2Q 2008.
EPL is currently drilling the ST23 CC-15st well located in Bay Marchand and has a rig on location in its East Bay field. The company plans to drill the first well in its pilot horizontal program intended to enhance oil production in 2Q 2008.
EPL also plans to begin operations on the first of three wells in South Timbalier block 26, including the F-18st, and two development wells. The company has two shelf development projects scheduled to begin production early-to-mid 2Q 2008 from discoveries made in prior years, and is expected to begin production on its first deepwater GoM well, Raton, in Mississippi Canyon block 248.
03/20/2008
