HOUSTON, Oct. 18, 2013 (GLOBE NEWSWIRE) -- EPL Oil & Gas, Inc. (NYSE: EPL ) (EPL or the Company) announced today that its conference call to review third quarter 2013 results will be held on October 31, 2013 at 9:30 A.M. Central Time/10:30 A.M. Eastern Time. The Company will issue a press release on the morning before the call covering operational and financial results for the quarter.
To participate in the EPL conference call, callers in the United States and Canada can dial (866) 845-8624 and international callers can dial (706) 634-0487. The Conference I.D. for callers is 88223861.
The call will be available for replay beginning two hours after the call is completed through midnight of November 14, 2013. For callers in the United States and Canada, the toll-free number for the replay is (855) 859-2056. For international callers the number is (404) 537-3406. The Conference I.D. for all callers to access the replay is 88223861.
The conference call will be webcast live as well as for on-demand listening at the Company's web site, www.eplweb.com . Listeners may access the call through the "Events and Webcasts" link in the Investor Relations section of the site.
| 3Q13 Guidance | ||
| ESTIMATED PRODUCTION & SWAP HEDGE VOLUMES | ||
| Net Production (per day) | 3Q 2013 | |
| Oil, including NGLs (Bbls) | ~ | 17,500 |
| Natural gas (Mcf) | ~ | 33,000 |
| Boe | ~ | 23,000 |
| % Oil, including NGLs (using midpoint of guidance) | ~ | 76% |
| Swap Contracted Volume | ||
| Oil (barrels) | 7,985 | |
| % of Oil swap contracted | 46% | |
| % of Boe swap contracted | 35% | |
| Average Swap Price Level | $104.72 | |
| ESTIMATED EXPENSES (in Millions) | ||
| Lease Operating (including energy insurance) | ~ | $ 43 |
| Routine & Maintenance | ~ | $ 41 |
| Expense Workovers | ~ | $ 2 |
| General & Administrative (cash and non-cash) | ~ | $ 7 |
| Taxes, other than on earnings | ~ | $ 3.5 |
| Exploration Expense | ~ | $ 6 |
| DD&A ($/Boe), excluding accretion | ~ | $ 25.5 |
| DD&A ($/Boe), including accretion | ~ | $ 28.5 |
| Interest Expense (including amortization of discount and deferred financing costs) | ~ | $ 13.5 |
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 .
Forward-Looking Statements
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; 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/ )
Investors/Media T.J. Thom, Chief Financial Officer 713-228-0711
