Energy Partners emerges from bankruptcy

Energy Partners Ltd., New Orleans, emerged from bankruptcy in a voluntary financial restructuring and under a new chief executive officer and board.

By OGJ editors
HOUSTON, Sept. 22
-- Energy Partners Ltd., New Orleans, emerged from bankruptcy in a voluntary financial restructuring and under a new chief executive officer and board.

The company said it is in the process of restoring production in the federal portion of East Bay field off Louisiana and has satisfied its obligations to the US Minerals Management Service. Common stock of the reorganized EPL will trade on the New York Stock Exchange.

EPL appointed a five-member board, and the board named Gary C. Hanna as chief executive officer. Hanna, with nearly 30 years of executive experience in the energy industry, was with Admiral Energy Services in 2008-09, Tetra Technologies Inc. in 1999-2007, and was president and chief executive officer of Gulfport Energy Corp. in 1996-98.

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