EPL Pays $550M For Hilcorp's Shallow-Water Gulf Oil Fields

Law360, New York (September 17, 2012, 4:03 PM EDT) -- Louisiana energy company EPL Oil & Gas Inc. has agreed buy some of Hilcorp Energy Co.'s shallow water oil and gas assets in the Gulf of Mexico for $550 million, nearly doubling its proven energy reserves, EPL said Monday.

EPL, which has been steadily buying up shallow-water assets in the Gulf for the last two years, said the assets bought from Hilcorp Energy GOM Holdings LLC are currently producing 10,000 barrels of oil equivalent per day. The deal includes three Chevron legacy wells in the central...
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