Energy Partners, Ltd. says that on March 27, 2008 it had completed its previously announced sale of two Gulf of Mexico Shelf properties located within its Western offshore area for $16.2 million effective January 1, 2008.

As of the effective date, the estimated proved reserves represented less than 1% of the Company's proved reserves and a recent average production rate net to the Company of less than 2% of fourth quarter 2007 average production.

After preliminary closing adjustments for the closing dates of March 26, 2008 and March 27, 2008, the cash proceeds received totaled approximately $15.0 million.

Tags: Energy Partners