Energy Partners To Make $201M Shallow Gulf Oil Buy

Law360, New York (January 13, 2011, 5:56 PM EST) -- Energy Partners Ltd., which exited bankruptcy in 2009, said Thursday it planned to use new debt to acquire shallow water oil and natural gas assets in the Gulf of Mexico from Anglo-Suisse Offshore Partners LLC for $201.5 million.

The New Orleans-based oil and natural gas exploration and production company said the Anglo-Suisse assets, located near production facilities it already operates, produce 3,000 barrels of oil equivalent per day.

"This asset acquisition is a meaningful first step toward growth for our company," Energy Partners CEO Gary Hanna...
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