About Energy XXI
Energy XXI (NASDAQ:EXXI) is an independent oil and natural gas exploration and production company with operations focused in the U.S. Gulf Coast and the Gulf of Mexico. Since its inception in 2005, the company has completed five major acquisitions for aggregate cash consideration of approximately $2.5 billion.
The company's growth strategy is inorganic and the company's acquisition strategy is to target mature, oil-producing properties in the Gulf of Mexico and the U.S. Gulf Coast that have not been thoroughly exploited.
As of June 2014 (excluding the acquisition to be discussed), the company had proved reserves of 165mmboe, probable reserves of 53mmboe and an average production for the first nine months of 2014 at 44,700mmboe.
The Not So...
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