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Filing Details

Accession Number:: 0001140361-12-017042
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2012-03-21 18:36:03
Reporting Period:: 2012-03-19

Filing Date:: 2012-03-21
Accepted Time:: 2012-03-21 18:36:03
SEC Url:: Form 4 Filing

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
750199	Energy Partners Ltd	EPL	Crude Petroleum & Natural Gas (1311)	721409562

Insiders

Cik	Name	Reported Address	Director	Officer	Large Shareholder	Other
1001391	E Charles Davidson	C/O Wexford Capital Lp 411 West Putnam Ave. Greenwich CT 06830	No	No	Yes	No
1048462	Wexford Capital Lp	411 West Putnam Avenue Suite 125 Greenwich CT 06830	No	No	Yes	Yes
1048485	Joseph Jacobs	C/O Wexford Capital Lp 411 West Putnam Avenue, Suite 125 Greenwich CT 06830	Yes	No	Yes	No
1472112	Wexford Gp Llc	C/O Wexford Capital Lp Suite 125 Greenwich CT 06830	No	No	Yes	No

Reported Non-Derivative Transactions

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Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
Common Stock, Par Value $0.001 ("Common Stock")	Disposition	2012-03-19	19,024	$18.33	7,071,061	No	4	S	Indirect	see footnote
Common Stock	Disposition	2012-03-20	14,623	$18.00	7,056,438	No	4	S	Indirect	see footnote
Common Stock	Disposition	2012-03-21	25,823	$17.64	7,030,615	No	4	S	Indirect	see footnote

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	S	Indirect	see footnote
No	4	S	Indirect	see footnote
No	4	S	Indirect	see footnote

Footnotes

The securities disposed of were held by Debello Investors LLC, Spectrum Intermediate Fund Limited, Wexford Catalyst Investors LLC, Wexford Catalyst Trading Limited and Wexford Spectrum Fund, L.P. (the "Funds") and by Wexford Capital LP ("Wexford").
It should be noted that the Form 3 filed by the Reporting Persons on September 23, 2009 reported in column 2 of Table I 6,905,629 shares of the Issuer's Common Stock, as an estimate, based on the Plan of Reorganization approved by the Issuer, of the number of shares the Reporting Persons were to receive pursuant to the Plan of Reorganization. It should be noted that the Reporting Persons actually received an additional 153,001 shares of the Issuer's Common Stock. The amount of securities beneficially owned in this column 5 reflects the actual number of shares of Common Stock received by the Funds pursuant to the Plan of Reorganization after giving effect to the transaction reported on this line and after taking into account the shares awarded to Mr. Marc T. McCarthy ("Mr. McCarthy"), a director of the Issuer and an employee of Wexford, as more fully described in footnote (3).
The Issuer grants from time to time shares of Common Stock to Mr. McCarthy, as consideration for services of rendered as a director of the Issuer. As disclosed in Mr. McCarthy's Forms 4, such shares of Common Stock are immediately assigned to Wexford upon each grant and are exempt from Section 16(b) of the Securities Exchange Act of 1934, as amended, pursuant to Rule 16b-3 promulgated thereunder. One-half of the shares granted to Mr. McCarthy on May 26, 2011 vested immediately on the transaction date, and the remaining one-half of the shares will vest on the day preceding the date of the Issuer's next annual meeting of stockholders. One-half of the 6,281 shares granted to Mr. McCarthy on May 26, 2011 vested immediately on the transaction date, and the remaining one-half of these shares will vest on the day preceding the date of the Issuer's next annual meeting of stockholders.
This form is jointly filed by Wexford, Charles E. Davidson ("Davidson"), Joseph M. Jacobs ("Jacobs") and Wexford GP LLC ("Wexford GP"). The reported securities are held by the Funds and by Wexford. Wexford serves as manager, investment advisor or sub-advisor of the Funds, and as such may be deemed to share beneficial ownership of the securities beneficially owned by the Funds, but disclaims such beneficial ownership to the extent such beneficial ownership exceeds its pecuniary interest. Wexford GP, as the general partner of Wexford, may be deemed to share beneficial ownership of the securities beneficially owned by the Funds, but disclaims such ownership to the extent such beneficial ownership exceeds its pecuniary interest.(continued under Footnote (5) below)
(continued from Footnote (4) above) Messrs. Davidson and Jacobs, as the controlling persons of Wexford GP, may be deemed to share beneficial ownership of any securities beneficially owned by the Funds for which Wexford serves as manager, investment advisor or sub-advisor, but disclaim such beneficial ownership to the extent such beneficial ownership exceeds their pecuniary interest.