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			&lt;font style="display: inline;font-weight:bold;font-size:10pt;"&gt;(1) Basis of Presentation &lt;/font&gt;
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			&lt;font style="display: inline;font-size:10pt;"&gt;EPL Oil &amp;amp; Gas, Inc. (&amp;#x201C;we,&amp;#x201D; &amp;#x201C;our,&amp;#x201D; &amp;#x201C;us,&amp;#x201D; or &amp;#x201C;the Company&amp;#x201D;) was incorporated as a Delaware corporation on January&amp;nbsp;29, 1998. We are an independent oil and natural gas exploration and production company. Our current operations are concentrated in the U.S. Gulf of Mexico shelf focusing on state and federal waters offshore Louisiana.&lt;/font&gt;
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			&lt;font style="display: inline;font-size:10pt;"&gt;The financial information as of June 30, 2013 and for the three- and six-month periods ended June 30, 2013 and June&lt;/font&gt;&lt;font style="display: inline;"&gt;&amp;nbsp;&lt;/font&gt;&lt;font style="display: inline;font-size:10pt;"&gt;30, 2012 has not been audited. However, in the opinion of management, all adjustments (which include only normal, recurring adjustments) necessary to present fairly the financial position and results of operations for the periods presented have been included therein. Certain information and footnote disclosures normally in financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted pursuant to rules and regulations of the Securities and Exchange Commission. The condensed consolidated balance sheet at December&amp;nbsp;31, 2012 has been derived from the audited financial statements at that date. These financial statements and footnotes should be read in conjunction with the financial statements and notes thereto included in our Annual Report on Form 10-K for the year ended December&amp;nbsp;31, 2012 (the &amp;#x201C;2012 Annual Report&amp;#x201D;). The results of operations and cash flows for the first six months of the year are not necessarily indicative of the results of operations which might be expected for the entire year. &lt;/font&gt;
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 -Publisher AICPA

 -Name Accounting Principles Board Opinion (APB)

 -Number 22

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Reference 2: http://www.xbrl.org/2003/role/presentationRef

 -Publisher AICPA

 -Name Statement of Position (SOP)

 -Number 94-6

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 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.



Reference 3: http://www.xbrl.org/2003/role/presentationRef

 -Publisher FASB

 -Name FASB Interpretation (FIN)

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 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.



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