Seeking Alpha

Energy XXI Limited (EXXI) engages in the acquisition, exploration, development, production, and operation of oil & gas properties onshore in Louisiana and Texas, and offshore in the Gulf of Mexico.

EXXI has several catalysts, which should move the stock:

  • Excellent Reserve Growth
  • Excellent realized prices and attractively hedged
  • Trades at a significant discount to NAV
  • Shareholder friendly

The combination of these factors could easily push EXXI to $35/share by the end of 2013 for a ~6.5 month gain of 37%. Before examining these catalysts in more detail, a brief company overview is presented.

Company Overview

EXXI = $25.47

Mkt Cap = $2.2 billion

Shares Outstanding: 87,700,000 (fully diluted)

EPS (TTM) = $2.07

P/E (TTM)...

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