Energy XXI (EXXI) Chairman and Chief Executive Officer, John Schiller, presented today at EnerCom’s The Oil & Gas Conference® 17. 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 116 million barrels of oil equivalent (BOE) of proved reserves and about 50,000 BOE per day of current production, 70% of which is oil. Energy XXI operates or has an interest in 7 of the 11 largest oil fields in the Gulf of Mexico. The company’s core properties are located in coastal and offshore Louisiana.
During the company’s breakout session, management was asked the following questions:
- Have you learned anything new on your Ship Shoal Block 188?
- Can you talk more about your horizontal drilling for the next year?
- What are the sizes of the acquisitions you’re looking at?
- Do you anticipate drilling in deeper zones?
- Why do you choose to hedge $3.00 collars versus $2.00 collars?
- Do you worry about faulting on the deep wells?
- Do you anticipate some of the onshore to result in oil?
- Where do you see yourself in 2017?
- Can you describe the production profile for Don Tomas?
Click here for Energy XXI’s webcast.
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