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Special MA Call – Energy XXI Gulf Coast, Inc

Energy XXI Gulf Coast, Inc · Nov 22, 2010 · 14 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. Special MA Call – Energy XXI Gulf Coast, Inc – slide 1
    Energy XXI Gulf of Mexico Shelf Expansion November 22, 2010
  2. Special MA Call – Energy XXI Gulf Coast, Inc – slide 2
    Transaction Highlights Purchase Price 1.01 Billion Effective Date Dec. 1, 2010 Estimated Closing Date Dec. 20, 2010 Proved Reserves 49.5 MMBOE Probable Reserves 16.5 MMBOE Production 20,000 BOE/d Net Acreage 130,853 acres…
  3. Special MA Call – Energy XXI Gulf Coast, Inc – slide 3
    GOM Shelf A Strategic Addition 53% Oil by Production, 61% by Reserves Oil 94% operated Cumulative production exceeds 1.6 BBOE EXXI will be 3rd largest oil producer on GOM Shelf Between Core Main Pass & South Timbalier Fields…
  4. Special MA Call – Energy XXI Gulf Coast, Inc – slide 4
    Properties Fit Like a Glove West Delta 30 4,100 BOE/d WI 100% NRI 87.5% Main Pass West Delta 73 61, 73 & 74 2,482 BOE/d 9,850 BOE/d WI 100% NRI 83% Grand Isle 16, 18 1,831 BOE/d WI 100% NRI 87.5% Rabbit Island 483…
  5. Special MA Call – Energy XXI Gulf Coast, Inc – slide 5
    Combined, A Much Larger Energy XXI EXXI EXXI EXXI Proved Reserves Proved + Probable Production MBOE/D 92.1MMBOE 2P 75.6 16.5 26,000 MMBOE 1P 75.6 69% Oil 63% Oil 61% Oil 65% 72% 77% Pro Forma Pro Forma Pro Forma 158.1MMBOE…
  6. Special MA Call – Energy XXI Gulf Coast, Inc – slide 6
    High-Quality Shelf Reserves 3P Reserves (68.1 MMBOE) 49% Oil Proved Reserves (49.5 MMBOE) 61% Oil 2.1 16.5 MMBOE 15.9MMBOE MMBOE 57% Oil 27.1MMBOE 6.5MMBOE 64% Oil 49.5 55% Oil MMBOE PDP PDNP PUD 61% Oil Proved…
  7. Special MA Call – Energy XXI Gulf Coast, Inc – slide 7
    GOM Peer Group Comparison Proved Reserves1 140 (MMBOE) 125.1 120 100 49.5 MMBOE 80 25.7 60 10 40 75.6 20 0 MMR* SGY EXXI WTI* EXXI - Pro forma ATPG 60 Production2 50 (MBOE/d) 46 18 40 MBOE/D 20 30 7.5…
  8. Special MA Call – Energy XXI Gulf Coast, Inc – slide 8
    Production Profile Top Fields and Target Assets EXXI - Sum of Production Data for Six Fields 1,000,000 Gas 12% Gas 12% Gas 6% 100,000 10,000 OIL 20% OIL 15% Total Cumulative Production for EXXI Top 6 Assets OIL 8% exceeds 1.7…
  9. Special MA Call – Energy XXI Gulf Coast, Inc – slide 9
    Allocation of Purchase Price Price (MM) Proved Reserves 698 Unproved Reserves 233 Total Reserve Price 931 Pipeline/Gathering Systems 37 Land, Seismic, Other 44 Total Purchase Price 1,012 Proved Reserves Acquired at 14/BOE…
  10. Special MA Call – Energy XXI Gulf Coast, Inc – slide 10
    Exploration & Development Potential 7 Billion PV-10* WD 30 SP 89 7.0 19.8 WD 73 SP 78 ST 54 9.8 0.7 52.5 GI 16/18 SP 78 14.71 27.71 ST 54 16.45 GI 16/18 630.0 SP 89 WD 30 14.72 31.69 WD 73 7.70 11 *Based on The Oil &…
  11. Special MA Call – Energy XXI Gulf Coast, Inc – slide 11
    Enhanced Balance Sheet & Liquidity Acquisition Pro Historical Adjusted Forma Raised 555.9MM of Equity (net of fees) 9/30/2010 9/30/2010 (2) 9/30/2010 286.4MM of Common (Gross) Cash and cash equivalents 12.9 334.0 20.6 287.5MM of…
  12. Special MA Call – Energy XXI Gulf Coast, Inc – slide 12
    Hedged Target Assets Crude Oil Hedges Crude Oil Hedges SWAPS PUT SPREAD Bbls/d Avg. Price Bbls/d Sub-Floor Floor 2011 2,900 89.48 2011 6,600 60 75 2012 3,400 89.06 2012 6,600 60 75 2013 2,500 89.53 13
  13. Special MA Call – Energy XXI Gulf Coast, Inc – slide 13
    Potential Stock Upside* 90 Future Acquisitions 80 & Additional Ultra-deep 70 and Core Exploration Success 6 Tcfe 60 DJ 6 Tcfe 1.5 Tcfe /SHARE 50 DJ 1.5 Tcfe 3P 40 2P 30 1P Current Stock Price 20 10 0 Total…
  14. Special MA Call – Energy XXI Gulf Coast, Inc – slide 14
    Contact: Stewart Lawrence, IRO Energy XXI (Bermuda) Limited 1021 Main Street, Suite 2626 Houston, Texas 77002 (713)351-3006 slawrenceenergyxxi.com NASDAQ: EXXI AIM: EXXI, EXXS www.energyxxi.com 15

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