One-Page Deal Sheet
Energy XXL to Acquire GOM From Exxon Mobil
Energy XXI Gulf Coast, Inc ExxonMobil
Announced Date
October 01,2012
Close Date
October 17,2012
Transaction Type
Property
Enterprise Value (EV)($MM)
33
Transaction Details: Subscribe to see
EnergyXXL has executed a purchase and sale agreement to acquire certain shallow-water Gulf of Mexico interests from Exxon Mobil Corporation. The agreement covers 5,000 gross acres on Vermilion Block 164, currently producing approximately 1,100 BOE/d net. The asset has produced approximately 44 million BOE since its discovery in 1957.
Energy XXI and ExxonMobil also have entered into a joint venture agreement to explore for oil and gas on nine contiguous blocks adjacent to Vermilion Block 164 in shallow waters on the Gulf of Mexico shelf. Energy XXI will operate the joint venture, and drilling…
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