EPL Prices $300M Placement of 8.25% Senior Notes
EPL Oil & Gas, Inc. ("EPL" or the "Company") (NYSE: EPL) announced today the pricing of its private placement pursuant to Rule 144A and Regulation S under the Securities Act of 1933, as amended (the "Securities Act"), to eligible purchasers $300 million in aggregate principal amount of 8.25% senior unsecured notes due 2018 (the "Senior Notes"). The offering size represents an increase of $50 million over the Company's previously announced intention to offer $250 million in aggregate principal amount of its Senior Notes. The net proceeds from the private placement of the Senior Notes, after deducting the initial purchasers' discount and estimated offering expenses payable by EPL, are expected to be approximately $288 million. The Senior Notes will be fully and unconditionally guaranteed, jointly and severally, on an unsecured, senior basis, by all of EPL's existing material subsidiaries. The closing of the offering of the Senior Notes is expected to occur on or about October 25, 2012.
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