Energy XXI (NASDAQ:EXXI) is an exploration and production company active primarily offshore in the US Gulf of Mexico. Historically, EXXI has an established record of growth through acquisition. Since 2005, the total investment has been approximately $5 billion of purchases. The company specialty is taking over mature fields and increasing production through modern exploitation such as horizontal drilling and acidization. Applying new techniques to the older fields has generated production at an attractive cost since the infrastructure of platforms and pipelines is already in place. EXXI focuses primarily on oil and natural gas liquids, which currently comprise about 71% of the total BOE production versus 29% for gas.
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Energy XXI production platform, photo from FY15Q1…
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(November 10, 2014 - 3:41 PM EST)
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