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Energy XXI (EXXI) +12.6% AH after providing a fiscal year-end update. The company estimates its...

Energy XXI (EXXI) +12.6% AH after providing a fiscal year-end update. The company estimates its proved reserves totaled 179 MMBOE at the close of FY13 (ended June 30), +50% Y/Y, and that it had a 390% organic reserve replacement rate. Also, the company averaged production of 47K BOE/day in FQ4, and had an 82% success rate on the first 11 wells drilled via its horizontal drilling program. The present value of proved + probable reserves is estimated at $8.4B.
Comments (1)
  • Michael Fitzsimmons
    , contributor
    Comments (8331) | Send Message
     
    Bingo! Last month's article: "EXXI: Vastly Undervalued, Nicely Hedged, And Shareholder Friendly":

     

    http://seekingalpha.co...
    16 Jul 2013, 06:11 PM Reply Like
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