EPL Oil & Gas Inc. has relocated its corporate headquarters from New Orleans, Louisiana, to Houston, Texas. EPL, a growth-oriented shallow-water Gulf of Mexico shelf exploration and production company, has recently doubled its operations in part by augmenting its geoscience and engineering teams in Houston, while keeping its accounting and production teams in New Orleans.
The company recently experienced a 66 percent employee-base increase over an 18-month period.
"The deep pool of geoscience and engineering talent accessible to us in Houston will enable EPL to augment our teams as we continue to grow,” said Gary C. Hanna, the company's president and CEO. “Becoming a Houston-based company also provides direct access to energy-focused banks and business partners that are a part of this city's strong network. We remain dedicated to the New Orleans market, and are anticipating high levels of continued expansion in our operations off the coast of Louisiana, resulting in a need to renew our lease and enhance the office space we currently occupy."
EPL recently reported revenue for first-quarter 2013 of $182.3 million, compared to $98.8 million for the same period a year ago, driven by higher realized oil production from the company's focus on oil-weighted acquisitions and organic exploitation projects.