EPL Oil & Gas, Inc. today announced that it was the high bidder on five leases at the Central Gulf of Mexico Lease Sale 227 held last Wednesday, March 20, 2013 in New Orleans, Louisiana.
The five high bid lease blocks cover a total of 13,892 acres on a net and gross basis and are all located in the shallow Gulf of Mexico Shelf within the Company’s core area of operations. EPL’s share of the high bids totals $2.1 million.
Gary C. Hanna, EPL’s President and Chief Executive Officer, commented, “We are pleased that we were successful with high bids on leases located around some of our prolific core fields. Consistent with our acquisition and organic growth strategy, the leases contain deep and shallow prospects that enhance our existing portfolio and were identified with the aid of our ongoing regional study. The five leases include four leases within the South Pass area and one within our South Timbalier area.”