Last $7.63 USD
Change Today -0.69 / -8.29%
Volume 8.6M
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As of 8:10 PM 10/17/14 All times are local (Market data is delayed by at least 15 minutes).

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10/22/13 - $33.93
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energy xxi bermuda (EXXI) Details

Energy XXI (Bermuda) Limited is engaged in the acquisition, exploration, development, production, and operation of oil and natural gas properties onshore in Louisiana and Texas, and on the Gulf of Mexico. As of June 30, 2014, the company had proved reserves of 246.2 million barrels of oil equivalent. It operated or had an interest in 984 gross producing wells on 432,954 net developed acres, including interests in 61 producing fields. Energy XXI (Bermuda) Limited was founded in 2005 and is headquartered in Houston, Texas.

497 Employees
Last Reported Date: 08/25/14
Founded in 2005

energy xxi bermuda (EXXI) Top Compensated Officers

Chairman, Chief Executive Officer and Preside...
Total Annual Compensation: $2.7M
Chief Financial Officer
Total Annual Compensation: $1.1M
Executive Vice President of Exploration & Pro...
Total Annual Compensation: $857.9K
Chief Accounting Officer, Chief Information O...
Total Annual Compensation: $845.8K
Executive Vice President of Marketing and Ris...
Total Annual Compensation: $582.3K
Compensation as of Fiscal Year 2014.

energy xxi bermuda (EXXI) Key Developments

Energy XXI (Bermuda) Limited Presents at Canaccord Genuity 8th Annual Global Resources Conference, Oct-15-2014

Energy XXI (Bermuda) Limited Presents at Canaccord Genuity 8th Annual Global Resources Conference, Oct-15-2014 . Venue: Palace Hotel, 455 Madison Avenue, New York, New York, United States.

Energy XXI Reports Production Results for the First Quarter of 2015; Provides Capital Expenditure Guidance for the Fiscal Year 2015

Energy XXI reported production results for the first quarter of 2015. During the company's fiscal first quarter, the company’s oil production is averaging approximately 41,700 barrels of oil per day (Bbl/d). The quarter's volumes were impacted by third party pipeline downtime which accounted for approximately 1,950 barrels of oil equivalent per day (BOE/d). At the West Delta 73 field (100% WI/83% NRI), three successful horizontal wells have been brought online with combined uplift of approximately 2,000 barrels of oil per day (Bbl/d) gross. These horizontal wells are being produced at restricted rates in order to control water production and increase ultimate recoveries per well. Also, the company is completing the first dumpflood in the history of the field in the F-35 sand. The West Delta 73 team expects the dumpflood technology to provide a long-term, cost-effective solution to the field's reservoir pressure maintenance needs, and optimize performance of current and future horizontal wells in the field as demonstrated in nearby Gulf of Mexico Shelf fields such as Bay Marchand. In the West Delta 30 field (100% WI/87.5% NRI), the company has successfully completed three wells which have provided total uplift of 1,420 Bbl/d gross. One additional well has reached total depth and production from this well is expected to be online in October. The company has completed the first phase of development drilling in the field and has released the rig. In the Main Pass 61 field (100% WI/78% NRI), following the successful Punch well brought online in June and currently producing 900 Bbl/d gross, the company executed a successful dual completion and one recompletion adding uplift of 570 Bbl/d gross. One additional development well has reached total depth, is currently being completed, and is expected to be online in the next few weeks. Once that well is complete, the rig will begin drilling the Toro well, an addition to the rig line due to the successful development program underway in the field. At Ship Shoal 208 (100% WI/87.5% NRI), the company completed one development well this fiscal year, which provided initial uplift of 210 Bbl/d gross, and is a successful completion around a salt dome structure. Two additional wells have been drilled and are currently being completed after reaching total depth in mid-September. Following these two completions, two additional development wells will be drilled at Ship Shoal 208, and a new six-slot platform will be installed for future development opportunities. The company's capital expenditures for fiscal year 2015, are being adjusted to a range of $785 million and $840 million, with $815 million as the expected case. The higher end of the range is primarily reliant on a successful test of the Lomond North well in the Highlander area. Development drilling, completions, and recompletions continue to account for $449 million of the reduced target as compared to $475 million in the original budget. Reduction in capital expenditures came from deferring additional West Delta 30 drilling, reduced non-essential facilities spending, and a reduction in general and administrative costs.

Energy XXI (Bermuda) To Divest Non-Core Assets

Energy XXI (Bermuda) Limited (NasdaqGS:EXXI) is planning to divest our non-core assets. Antonio de Pinho, Executive Vice President, Exploration and Production of Energy XXI (Bermuda), said, "We are going to divest; we are going to divest our non-core assets. As we acquire and continue to add core properties into our portfolio, we need to divest assets that are non-core so that we can more efficient from an operational point of view and certainly to divest [through] the year and it is going to be implemented over the next quarter."


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Valuation EXXI Industry Range
Price/Earnings 11.9x
Price/Sales 0.5x
Price/Book 0.4x
Price/Cash Flow 1.5x
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