FY 2012 Second Quarter Conference Call NASDAQ: EXXI AIM:EXXI www.energyxxi.com February 2, 2012 1/31/2012
John D. Schiller Chairman and CEO 3
Oil-Focused Production Growth* 25 20 Thousand Barrels per Day 7.6 15 6.1 6.5 6.1 10 3.5 13.8 12.0 5 9.9 10.3 5.4 0 2Q F11 3Q F11 4Q F11 1Q F12 2Q F12 MBbl's/D Crude MBOE/D Gas *Production values are NET and…
West Griffin Chief Financial Officer 5
Consistently Improving Balance Sheet EBITDA (MM) Net Income (MM) 97 250 225 100 200 80 150 60 100 40 50 20 0 0 Dec 10 Mar 11 Jun 11 Sep 11 Dec 11 Dec 10 Mar 11 Jun 11 Sep 11 Dec 11 EBITDA increased 2.1 times since Dec 2010 Net…
Aggressive Debt Paydown At September 30, 2011, 29.4MM was drawn on revolver At January 23, 2012, revolver was 0 and cash was 110 million 7
EXXIs Revenues are 93% Oil % Oil Production 75% 71.6% 69.1% 69.5% 70% 68.5% 67.1% 65.9% 65% 60% Sep 10 Dec 10 Mar 11 Jun 11 Sep 11 Dec 11 Oil/Gas Price Relationship* 40 33.7x 30 22.5x 22.4x 24.9x 24.5x 20 16.4x 10 0 Sep 10…
South Pass 89 Well Activity Gross Field BOE/d Six well recompletion program completed 7,000 5,670 BOE/d 6,000 All projects pay out within nine months EXXI 5,000 acquired operations Total Net CAPEX: 18.5 MM 4,000 3,000 Current…
Grand Isle 16 Well Activity Gross Field BOE/d 7,000 5,200 Successfully Recompleted 10 Wells BOE/d 6,000 Plan To Spud Costello February 2012 EXXI 5,000 acquired operations Net CAPEX To Date: 47.3 MM 4,000 Current Production:…
Grand Isle 16 Sunny (R-22ST3) Drilled to 9,064 MD / 8,579 TVD Pay encountered in B-2, B-3, B-4, C-2, and C-4 Sands Logged a total 225 of net pay IP December 2011 at 1,500 BOE/d net Actual CAPEX to drill and complete - 10.0MM 13
Grand Isle 16 Winters K-2 Sand Structure Map Winters Well Type Log K-2 Sand Drilled to 17,400 MD / 16,457 TVD Encountered 83 net pay in K-2 sands Anticipate a net IP rate of 20 MMcf/d starting up in February 2012 14
West Delta 73 Magnum Magnum LOG Pliocene F-35 Sand Structure F30 F35 F40 Drilled to 8,500 TVD Oil accumulations found in F-30, F-35 and F-40 60 of net oil pay Production to start March 2012 at est. 1,000 BOE/d 15
South Timbalier 54 Camshaft Camshaft Type Log G-9A Sand Structure Map Camshaft Drilling to 12,000 TVD to target the G-6B, G-8, G-9A Sands Plans are to dual-complete the G-9A and G-8 Sands First production expected in March…
Davy Jones 1 Completion & Facilities 17
Davy Jones 1 Well Design Update Mud Motor Recovered 5 Liner Cleaned Out to 29,800 Drilling Mud Displaced with Completion Fluid Remaining Operations Set bridge plug; log w/ PNL Run and set perforating guns Run tubing and install…
Blackbeard East Summary FRIO SANDS Blackbeard West Located in 85 Feet of Water TD Very Large 3-way Structure / 2,500 column potential Final TD 33,882MD/ 33,318TVD Structural Cross Section Through Blackbeard Complex…
Lafitte - Summary Located at Eugene Island Block 223 in 140 NE SW of water Very Large 3-way Structure / 2,000 column potential Targeting Miocene & Frio sections Current Depth Drill ahead 33,001 in Oligocene (Frio) 33,001…
Blackbeard West 2 Summary ST 168 Unit Ship Shoal South Timbalier Located in 75 Feet of Water BBW 3 BBW A large 3-way structural closure Younger Miocene Pay underneath and adjacent to a salt Zones weld PTD 26,000TVD…
Current Rig Activity = 25% of GOM Shelf Activity Grand Isle 16 Hercules 201 Rig Winters Drilling West Delta 73 Nabors P-17 Magnum Grand Isle 16 Drilling Ensco 90 Multi-well Development Program Cameron Parish, LA Unit 201…
Q&A 23
Contact NASDAQ: EXXI AIM:EXXI www.energyxxi.com Stewart Lawrence, IRO Greg Smith, Director of IR Energy XXI (Bermuda) Limited Energy XXI (Bermuda) Limited 1021 Main Street, Suite 2626 1021 Main Street, Suite 2626 Houston, Texas 77002…
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