real-time news and commentary for investors
Tuesday, Aug 20
Energy XXI +3.8% AH following big FQ4 earnings beat
- Energy XXI (EXXI) +3.8% AH following FQ4 earnings that easily beat analyst estimates.
- Production averaged 46,800 boe/day, 62% of which was oil, vs. 47,600 boe/day in the year-ago quarter.
- FY 2013 year-end proved reserves were ~179M boe, up 50% from a year earlier; 62M boe of proved reserves through discoveries, extensions of existing fields and performance revisions, in addition to 13M boe through acquisitions.
- EXXI continued a string of drilling successes in the quarter, including Big Sky 3, Java and Monte Carlo 2.