The Energy Report
Notable Quotes
"Uranium producers like EFR are going to start popping up on people's radar screens." (5/23/13) Energy Fuels Inc. - The Energy Report Interview with Matt Badiali More >
"The conservative uranium bet is to go with companies making money at current prices. That's FCU." (5/23/13) Fission Uranium Corp. - The Energy Report Interview with Matt Badiali More >
"CHK is active in the Marcellus sweet spot in northwestern West Virginia." (5/16/13) Chesapeake Energy Corp. - The Energy Report Interview with Josh Young More >
"FCU is on to the most exciting uranium discovery to come around in quite a while." (5/14/13) Fission Uranium Corp. - The Metals Report Interview with Brent Cook More >
"Majors like RDS are moving toward gas." (5/9/13) Royal Dutch Shell Plc - The Energy Report Interview with Keith Schaefer More >
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Experts Commenting on This Company
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Energy XXITICKER: EXXI:NASDAQEnergy 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. It has completed five major acquisitions totaling approximately $2.5B since its founding in October 2005, creating a company with more than 116 MMboe/d of proved reserves and about 42 Mboe/d of production, 67% 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. |
The information provided below is from analysts, newsletters and other contributors. Please contact the company and visit its website before making an investment decision.
Expert Comments:
Michael Glick, Johnson Rice & Co. (5/6/13) "Energy XXI announced strong results from two horizontals, Bear Claw at West Delta and Camacho at Main Pass, marking the most significant horizontal success since Hyden came online in January. . .Bear Claw was brought online within the past week at 2,600 bbl/d and 3.2 MMcf/d, while Camacho came online at 723 bbl/d and 8.4 MMcf/d. . .at Grand Isle, the company also recently brought online Gelato (which had been delayed by permitting) at 500 bbl/d and 18 MMcf/d. West Delta and Main Pass are likely to be the primary focal points for horizontal drilling in FY14."
Michael Glick, Johnson Rice & Co. (5/6/13) "Energy XXI announced a 71% increase in its quarterly dividend to $0.12/share from $0.07/share, and a $250M stock repurchase program, illustrating the confidence of the board (and the company) in the value of the asset base. Considering that the stock is trading well below pro forma PV-10 value at $109/bbl and $3.17/Mcf, we expect that the company will be active in the market buying back shares. Although consensus estimates are likely to move lower given updated guidance, we believe that the dividend/buyback announcement combined with organizational changes, refocused operations and drilling improvements effectively signal that the company has reached or is nearing a turning point operationally, and that the stock should follow in kind."
Mukesh Verma, Insider Monkey (3/26/13) "At the end of Q4/12, a total of 21 of the hedge funds we track were long in Energy XXI. . .with hedge funds' sentiment swirling, there exists a few key hedge fund managers who were boosting their holdings meaningfully."
Michael Glick, Johnson Rice & Co. (3/19/13) "Energy XXI announced an exploration joint venture with Apache Corp. covering 135 blocks associated with salt dome structures on the central Gulf of Mexico shelf. A wide-azimuth shoot is currently underway, which could help to identify significant overlooked hydrocarbons around salt structures on the shelf. . .the company's South Pass recompletion program continues to see success, with the A-19 coming online this month at 6 Mmcf/d and 135 bbl/d of condensate; production from the field has doubled since the company began operations in October."
The Motley Fool (3/7/13) "Energy XXI has made a series of savvy buys leading to impressive production and reserve growth. . .Pendragon is proof of concept for Merlin. . .Pendragon success significantly enhances the probability that Merlin will be worth drilling. . .the company's track record of incorporating acquisitions is impressive, especially when considering the size of some of its acquisitions."
