Shares of Energy XXI (EXXI +7.3%), McMoRan's (MMR) leading minority partner in its...

|About: Energy XXI Ltd. (EXXIQ)|By:, SA News Editor

Shares of Energy XXI (EXXI +7.3%), McMoRan's (MMR) leading minority partner in its ultra-deepwater drilling projects including the troubled Davy Jones well, soar as investors re-calibrate the value of their piece of the pie. Canaccord reiterates its Buy rating on EXXI, citing its oil-weighted asset base, consistent cash generation and potential upside from its ultra-deep program.