Ownership Submission
FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
PEPER JOHN H
   2. Issuer Name and Ticker or Trading Symbol
ENERGY PARTNERS LTD [EPL] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
_____ Officer (give title below) __X__ Other (specify below)
Legal Counsel (1)
(Last)
(First)
(Middle)
C/O ENERGY PARTNERS, LTD., 201 ST. CHARLES AVENUE		 3. Date of Earliest Transaction (Month/Day/Year)
02/01/2012
(Street)

NEW ORLEANS, LA 70170		 4. If Amendment, Date Original Filed(Month/Day/Year)
 6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)		 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)		 4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)		 5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)		 6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)		 7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 02/01/2012   D(1)   9,470 D (1) 4,794 D  
Common Stock               346 I 401(k) Plan

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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)		 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)		 5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)		 6. Date Exercisable and Expiration Date
(Month/Day/Year)		 7. Title and Amount of Underlying Securities
(Instr. 3 and 4)		 8. Price of Derivative Security
(Instr. 5)		 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)		 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)		 11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Stock Options (Right to Buy) $ 13.68 02/01/2012   D(1)     10,140   (1) 11/01/2021 Common Stock 10,140 $ 13.68 0 D  
Stock Options (Right to Buy) $ 16.5 02/01/2012   D(1)     13,333   (1) 01/18/2021 Common Stock 13,333 $ 16.5 6,667 D  
Stock Options (Right to Buy) $ 8.9 02/01/2012   D(1)     8,333   (1) 01/05/2020 Common Stock 8,333 $ 8.9 16,667 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
PEPER JOHN H
C/O ENERGY PARTNERS, LTD.
201 ST. CHARLES AVENUE
NEW ORLEANS, LA 70170		       Legal Counsel (1)

Signatures

 John H. Peper   02/03/2012
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) In an agreement dated January 30, 2012 entered into by the Reporting Person and the Company in connection with the Reporting Person's resignation as Executive Vice President, General Counsel, and Corporate Secretary of the Company, all of the Reporting Person's unvested stock options and restricted shares for which the restrictions have not lapsed as of February 1, 2012 are cancelled and forfeited, as applicable. Pursuant to this agreement, on February 1, 2013, the Reporting Person may be entitled, upon execution of a release, to a cash payment totaling $137,500 in consideration for such cancellation and forfeiture of all such equity awards.

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