Energy XXI (ticker: EXXI) is an independent oil and natural gas exploration and production company whose growth strategy emphasizes acquisitions, enhanced by its value-added organic drilling program. The board of directors of Energy XXI announced on March 12, 2014, the acquisition of EPL Oil & Gas (ticker: EPL) for a total consideration of $2.3 billion, consisting of about $1 billion
Petróleos Mexicanos, or Pemex, is Mexico’s sole producer of crude oil, natural gas and refined products. The company provides Mexico with one-third of government income and was the ninth largest oil producer in the world in 2012. The oil and gas industry in Mexico has been nationalized since 1938, but production has declined every year since 2004 (24% overall). However,
Saratoga Resources (ticker: SARA) is an independent exploration and production company with offices in Houston, Texas and Covington, Louisiana. Principal holdings cover 51,901 gross/net acres with 60% held by production, located in the transitional coastline and protected in-bay environment on parish and state leases of south Louisiana and in the shallow Gulf of Mexico Shelf. Saratoga expanded its boundaries in
The board of directors of Energy XXI (ticker EXXI) announced on March 12, 2014, the company acquired EPL Oil & Gas (ticker: EPL) for a total consideration of $2.3 billion, consisting of about $1 billion in cash (65% of total consideration) and about 23.4 million common shares of Energy XXI (35%). The per-share consideration for EPL is $39, a 34%
PetroQuest Energy (ticker: PQ) is an independent energy company engaged in the exploration, development, acquisition and production of oil and natural gas reserves in the Arkoma Basin, East Texas, South Louisiana and the shallow Gulf of Mexico. PetroQuest Energy announced income of roughly $2.3 million for Q4’13, according to an earnings release on February 27, 2014. Income for fiscal 2013
Energy XXI (ticker: EXXI) is an independent oil and natural gas exploration and production company whose growth strategy emphasizes acquisitions, enhanced by its value-added organic drilling program. The company 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. It aims to develop the acquired properties
Saratoga Resources Inc. (ticker: SARA) is an oil and gas exploration and production company concentrating on abundant, low-risk drilling opportunities located in the transition zone off the coast of Louisiana. In some places, including the company’s Grand Bay field, approximately 64 stacked pay sands exist with wells that have been producing for over 50 years. On December 16, 2013, Saratoga
After settling electoral reform on December 3, 2013, Mexico is shifting its attention to its highly publicized and highly criticized reform of the oil industry. Lawmakers are still adjusting the fine print of the bill but the main point of opening up the country to private investment remains intact. Concessions and lucrative contracts involving Petroleos Mexicanos (Pemex) are being debated
On December 3, 2013, the Bureau of Ocean Energy Management (BOEM) announced the Eastern Gulf of Mexico oil and gas lease sale 225 will take place on March 19, 2014. The sale is the first proposed for the Eastern Planning Area of the Gulf of Mexico (GOM) under President Obama’s 2012 to 2017 outershelf program, and will be the first
Saratoga Resources Inc. (ticker: SARA) is an oil and gas exploration and production company concentrating on abundant, low-risk drilling opportunities located in the transition zone off the coast of Louisiana. In some places, including the company’s Grand Bay field, approximately 64 stacked pay sands exist with wells that have been producing for over 50 years. Saratoga announced its Q3’13 results
PetroQuest Energy (ticker: PQ) is an independent energy company engaged in the exploration, development, acquisition and production of oil and natural gas reserves in the Arkoma Basin, Wyoming, Texas, South Louisiana and the shallow waters of the Gulf of Mexico. Recent Q3’13 Success Fueled by Acquisition PetroQuest Energy announced results for Q3’13 on November 5, 2013. The punch line from
Saratoga Resources Inc. (ticker: SARA) is an oil and gas exploration and production company concentrating on abundant, low-risk drilling opportunities located in the transition zone off the coast of Louisiana. In some places, including the company’s Grand Bay field, approximately 64 stacked pay sands exist with wells that have been producing for over 50 years. SARA currently owns and operates
