Energy XXI Puts Up $2.3B To Acquire EPL Oil & Gas

Law360, New York (March 12, 2014, 12:44 PM EDT) -- Houston-based Energy XXI will acquire EPL Oil & Gas Inc. for about $2.3 billion, including debt, in a deal that will create the largest public independent oil producer on the Gulf of Mexico shelf, the companies announced Wednesday.

Under the terms of the transaction, EPL will merge with Energy XXI to become a single entity that will boast 10 oil fields on the Gulf of Mexico shelf with the ability to produce about 65,000 barrels of oil equivalent per day. The new company will retain the name...
To view the full article, register now.