One-Page Deal Sheet
Energy XXI Sells GOM Non-Core Assets
Not Disclosed Energy XXI Gulf Coast, Inc
Announced Date
May 13,2011
Effective Date
June 01,2011
Close Date
May 13,2011
Transaction Type
Property
Enterprise Value (EV)($MM)
41
Asset/Basin:
{"Gulf Coast"}
Location
Region
Gulf of Mexico
Country
United States
State
Louisiana
County
Vermilion
Play
Production Production
Transaction Details: Subscribe to see
Energy XXI today announced it has agreed to sell a number of non-core, mostly non-operated, onshore natural gas assets to a private buyer for $41 million in cash.
The assets include about 70 producing wells in 20 fields with recent average net production of 8 million cubic feet per day (MMcf/d) of natural gas and 285 barrels per day (BBl/d) of oil, or a total equivalent of 9.7 MMcf/d.
The transaction is scheduled to close by June 30, 2011, with an effective date of June 1, 2011.
"Divestiture of these non-core assets is consistent with our oil-focused acquire-and-exploit strategy," Energy…
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