NEW YORK (AP) -- EPL Oil & Gas Inc. has moved its corporate headquarters to Houston from New Orleans.
President and CEO Gary Hanna said in a statement on Wednesday that moving to Houston allows EPL to tap into the "deep pool" of geoscience and engineering talent in the area. It also gives the company access to energy-focused banks and business partners in Houston, he added.
The independent oil and natural gas exploration and production company's employee headcount has climbed 66 percent over the past 18 months.
EPL still has accounting and production teams in New Orleans and has renewed the lease for its office building there.
The company's stock fell 20 cents to $29.93 in afternoon trading. They have traded in a 52-week range of $15.88 to $35.14.