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NaveenS
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Product Manager - Derrick Petroleum Services. Working in Oil & Gas Industry for 5+ years. Contributed significantly for Database development for Upstream transactions (http://www.1derrick.com/ma-database). Initially worked as a 'Research Analyst' at Reuters. LinkedIn Profile:... More
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  • Options For Energy XXI In SE Asia Deepwater Assets 0 comments
    Oct 18, 2013 11:01 AM | about stocks: EXXIQ, HES, NFX

    In an interview with Bloomberg and as reported in the media, Energy XXI is looking to buy offshore assets in south-east Asia. The company is evaluating prospects, including offshore Malaysia, and hopes to make a purchase in the next 12-18 months. Chairman and CEO of Energy XXI, John Schiller said: "When we look around the world, places like Southeast Asia, the geology's very similar (to Gulf of Mexico), the sand's very similar."

    Sizeable packages available in the region include Hess' assets in Thailand and Indonesia, and Newfield's assets in Malaysia and China.

    Interestingly, South East Asia will see expenditure of > $3 billion on upcoming deepwater projects in the next 5 years with the most in Indonesia followed by Malaysia.

    (click to enlarge)

    The developments in the region are primarily LNG projects such as Kebabangan in Malaysia and Gendalo-Gehem in Indonesia.

    Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

    Stocks: EXXIQ, HES, NFX
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