EPL Oil & Gas Inc. said Wednesday it has relocated its corporate headquarters from New Orleans to Houston, but expects to continue growing its office in the Crescent City.
The company said it has leased office space in Houston, but also renewed its office lease in New Orleans.
Gary C. Hanna, the company’s president and CEO, said EPL 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.
Founded in 1998, the company’s operations are concentrated in the Gulf of Mexico, focusing on shallow state and federal waters off Louisiana’s coast.
“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,” Hanna said. “Our decision to move EPL’s corporate headquarters to Houston is primarily growth-focused and a natural transition for the company.”
“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,” he said.
Becoming a Houston-based company also provides direct access to energy-focused banks and business partners that are a part of that city.
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 oil production.