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Q4 2010 Earnings Call – Energy XXI Gulf Coast, Inc

Energy XXI Gulf Coast, Inc · Sep 8, 2010 · 15 slides

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Slides

  1. Q4 2010 Earnings Call – Energy XXI Gulf Coast, Inc – slide 1
    Fiscal 2010 Year-End Conference Call September 8, 2010 NASDAQ: EXXI AIM: EXXI www.energyxxi.com 090810
  2. Q4 2010 Earnings Call – Energy XXI Gulf Coast, Inc – slide 2
    Fiscal 2010 Year-End Review John D. Schiller, Jr. Chairman and CEO 3
  3. Q4 2010 Earnings Call – Energy XXI Gulf Coast, Inc – slide 3
    EXXI 0.00 5.00 10.00 15.00 20.00 25.00 30.00 7/3/2009 7/10/2009 7/17/2009 7/24/2009 7/31/2009 16% Bond 10% Bond EEXXF EXXI 8/7/2009 Announced 8/14/2009 Debt Exchange **Moodys/S&P Credit Ratings…
  4. Q4 2010 Earnings Call – Energy XXI Gulf Coast, Inc – slide 4
    Proved Reserves MBOE % Oil % Developed Reserves at June 30, 2009 53,109 58% 64 % Production (7,941) 67 Extensions & Discoveries 1,404 43 Revisions (Net) 3,990 75 Acquisitions 25,052 77 Reserves at June 30, 2010 75,614 63% 70 %…
  5. Q4 2010 Earnings Call – Energy XXI Gulf Coast, Inc – slide 5
    Reserves: Higher Quality & Value 6-30-09: Reserve Category Reserve Product Reserve Value PUD PDP Gas, 42% PUD PDP 36% 31% 31% 37% Oil, 58% PDN PDN 33% 32% 53.1 MMBOE 58% Oil 1,060 MM* 6-30-10: Reserve Category Reserve…
  6. Q4 2010 Earnings Call – Energy XXI Gulf Coast, Inc – slide 6
    Proved Reserves Plus Free Upside FYE 2010 3P PV-10: 2.5 Billion(1) 130 MMBOE 3P Resources: 104.1MM BOE Possible 16.5MMBOE PV-10:403.2MM Davy Jones Probable & 11.9MMBOE PV-10: 279.5MM Blackbeard Contingent Proved 75.6MMBOE…
  7. Q4 2010 Earnings Call – Energy XXI Gulf Coast, Inc – slide 7
    Davy Jones: Potential Timeline FY 2010 FY 2011 FY 2012 Jan Feb Mar Apr May Jun Jul Aug Sept Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sept Oct Nov Dec 10 10 10 10 10 10 10 10 10 10 10 10 11 11 11 11 11 11 11 11 11 11 11 11…
  8. Q4 2010 Earnings Call – Energy XXI Gulf Coast, Inc – slide 8
    Key Completion Components Component Status Delivery Vendor 25k SCSSV (Safety Valve) Ordered 2Q2011 Baker/Halliburton 3 20k exists; Expansion of existing technology Sumitomo, Tenaris, Tieback Casing Tenders Received 2Q2011 Hydril…
  9. Q4 2010 Earnings Call – Energy XXI Gulf Coast, Inc – slide 9
    FY 2011 Capital Program Overview Platte Total Capex 250MM Bayou Carlin Main Pass E&D Drilling 61, 73 Fields 22 Projects 155 MM Davy Jones Offset Blackbeard East Recompletions Lafitte 10 Projects 20MM Eugene…
  10. Q4 2010 Earnings Call – Energy XXI Gulf Coast, Inc – slide 10
    FY 2011 Budget by Category 300.0 P&A Land/G&G G&A/Ins/Admin YOY Variance Facilities Exploration Drill 250 250.0 Development Drill & Workovers Development 30 FY 11 includes 24MM of Davy 224 Jones development and 27MM for 10…
  11. Q4 2010 Earnings Call – Energy XXI Gulf Coast, Inc – slide 11
    Growing Production Profile Estimate 21.8 19.3 MBOE/D FY'09 FY'10 FY'11 12
  12. Q4 2010 Earnings Call – Energy XXI Gulf Coast, Inc – slide 12
    Contact: West Griffin, CFO Energy XXI (Bermuda) Limited 1021 Main Street, Suite 2626 Houston, Texas 77002 (713)351-3003 wgriffinenergyxxi.com NASDAQ: EXXI AIM: EXXI, EXXS www.energyxxi.com 13
  13. Q4 2010 Earnings Call – Energy XXI Gulf Coast, Inc – slide 13
    Appendix Supplemental Slides 14
  14. Q4 2010 Earnings Call – Energy XXI Gulf Coast, Inc – slide 14
    Operating Data Per BOE Quarter Ended FY 2009 9/30/09 12/30/09 3/31/10 6/30/10 FY 2010 MBOE/d 19.3 15.5 20.9 25.4 25.3 21.8 Oil % 59% 65% 68% 68% 68% 67% Revenue (Pre-hedge) 55.43 47.64 57.53 61.57 58.10 57.09 LOE Insurance Expense…
  15. Q4 2010 Earnings Call – Energy XXI Gulf Coast, Inc – slide 15
    Oilier than GOM Peers 80% 70% % Oil 67% 60% 50% 40% 30% 20% 52% 49% 10% 0% Peer 1 Peer 2 Peer 3 Peer 4 Peer 5 Peer 6 EXXI 40.00 35.70 35.00 EBITDA/BOE 30.00 25.00 20.00 15.00 10.00 5.00 0.00 Peer 1 Peer 2 Peer 3 Peer 4…

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