ATS Inc., a Covington, La.-based subsidiary of Woodside Petroleum Ltd., Perth, Australia, (Australia: WPL) has offered to acquire Energy Partners Ltd., New Orleans, (NYSE: EPL) for US$23 per share in a deal valued at US$883.2 million. ATS may raise the offer to US$24 per share, increasing the deal value to US$921.6 million. The offer is contingent on the basis of Energy Partners shareholders abandoning the offer to acquire Stone Energy Corp., Lafayette, La., (NYSE: SGY) for US$1.4 billion. Energy Partners has interests in 38 producing fields and five fields under development in the Gulf of Mexico Shelf and the Gulf Coast onshore regions. It has estimated proved reserves of approximately 166.9 billion cubic feet of gas and 31.5 million barrels of oil.
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