EPL To Drop $360M On Shallow-Water Oil Development In 2014

Law360, New York (January 7, 2014, 2:57 PM EST) -- EPL Oil & Gas Inc. announced plans Monday to sink $360 million into developing its shallow-water oil and gas assets in 2014, a move that comes only days after the Louisiana energy company picked up another Gulf of Mexico shallow-water field.

The front-loaded capital budget will be largely dedicated to the exploitation of EPL’s shallow-water holdings in Ship Shoal, West Delta, South Timbalier and Main Pass in the Gulf, EPL said. The company plans to add three rigs, bringing its total to eight, before the end...
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