On April 10, 2012, John Schiller, chairman and chief executive officer at Energy XXI (NASDAQ: EXXI) was interviewed on CNBC’s Mad Money with Jim Cramer.
In an exclusive interview on the show’s Executive Decision segment, John highlights:
- EXXI’s realized oil prices averaging $2.00 to $3.00 per barrel above Brent Crude Oil prices (March 2012: the company averaged $125 per barrel at the wellhead).
- The company’s $1.0 billion acquisition of ExxonMobil (NYSE: XOM) properties in 2010.
- EXXI’s continued acquire and exploit strategy targeting oil fields on the GOM shelf.
- Increasing a field’s production from 10,000 BOEPD to 14,000 BOEPD with relatively minimal capital requirements.
- Three wells in the Onyx area expected to produce 10,000 BOEPD after recompletion, which will be some of the top producers on the shelf.
The entire interview can be viewed here.
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