Energy XXI has implemented an “acquire and exploit” growth strategy to build a geographically focused portfolio with some of the highest per-unit margins in the industry. The company has focused on developing the acquired properties while ramping up a complementary exploration program designed to provide organic growth for the future. Energy XXI completed five major acquisitions totaling approximately $2.5 billion since its founding in October 2005, creating a company with more than 258 million barrels of oil equivalent (BOE) of proved reserves and about 46,000 BOE per day of production, 63% of which is oil. Energy XXI operates approximately 86% of its proved reserves, with 447 wells in 60 producing fields. The company’s core properties are located in coastal and offshore Louisiana.