HOUSTON, Nov. 4, 2013 (GLOBE NEWSWIRE) -- EPL Oil & Gas, Inc. (EPL or the Company) (NYSE:EPL) today reported it has resumed production within its West Delta and South Pass fields following a third party pipeline inspection.
A previously reported, EPL's oil production was curtailed due to a third party pipeline inspection that began on October 24th. The pipeline was shut in to conduct a government mandated integrity test that is required every five years, which was lengthened due to minor repair work. EPL was notified on late Saturday, November 2nd, that the repairs and integrity test had concluded, allowing the West Delta and South Pass fields to resume production.
Gary C. Hanna, the Company's Chairman, President and CEO, stated, "We are pleased to report that over the weekend we resumed production in our West Delta and South Pass fields following a third party pipeline inspection that began late last month. With this event behind us and new production expected from our ongoing rig activities, we are confident in our ability to meet or exceed our forecasted fourth quarter production and our exit rate guidance."
Description of the Company
Founded in 1998, EPL is an independent oil and natural gas exploration and production company headquartered in Houston, Texas with an office in New Orleans, Louisiana. The Company's operations are concentrated in the U.S. Gulf of Mexico shelf, focusing on the state and federal waters offshore Louisiana. For more information, please visit www.eplweb.com.
This press release may contain forward-looking information and statements regarding EPL. Any statements included in this press release that address activities, events or developments that EPL "expects," "believes," "plans," "projects," "estimates" or "anticipates" will or may occur in the future are forward-looking statements. We believe these judgments are reasonable, but actual results may differ materially due to a variety of important factors. Among other items, such factors might include: hurricane and other weather-related interference with business operations; the effects of delays in completion of, or shut-ins of, gas gathering systems, pipelines and processing facilities; stock market conditions; the trading price of EPL's common stock; cash demands caused by planned and unplanned capital expenditures; changes in general economic conditions; uncertainties in reserve and production estimates, particularly with respect to internal estimates that are not prepared by independent reserve engineers; unanticipated recovery or production problems; changes in legislative and regulatory requirements concerning safety and the environment as they relate to operations and to abandonment of wells and production facilities; oil and natural gas prices and competition; the impact of derivative positions; production expenses and expense estimates; cash flow and cash flow estimates; future financial performance; drilling and operating risks; our ability to replace oil and gas reserves; risks and liabilities associated with properties acquired in acquisitions; integration of acquired assets; volatility in the financial and credit markets or in oil and natural gas prices; and other matters that are discussed in EPL's filings with the Securities and Exchange Commission. (http://www.sec.gov/)
CONTACT: Investors/Media T.J. Thom, Chief Financial Officer 713-228-0711 email@example.com
Source:EPL Oil & Gas, Inc.