EPL Oil & Gas (EPL) says it is purchasing shallow water Gulf of Mexico assets from...


EPL Oil & Gas (EPL) says it is purchasing shallow water Gulf of Mexico assets from privately-held Hilcorp Energy for $550M, nearly doubling its proved reserves. The assets currently produce ~10K boe/day (~50% oil); estimated proved reserves total ~36.3M boe/day (54% oil). EPL plans to hedge 80% of the forecasted proved production for 2013-15.

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