Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

Options For Energy XXI In SE Asia Deepwater Assets

|Includes: Energy XXI Gulf Coast, Inc. (EGC), 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.

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.