Energy XXI should be a big winner for us in 2013. Read this article for a look at the potential. I believe that EXXI's horizontal development drilling program has a lot of potential for us.
http://beta.fool.com/justmee01/2012/11/ ... lnk0000001
Energy XXI
Energy XXI
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group
Re: Energy XXI
An update Net Income & Cash Flow model for Energy XXI (EXXI) has been posted under the Sweet 16 Tab.
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group
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bearcatbob
Re: Energy XXI
Dan, This time I had saved the old forecasts so the changes are discoverable. As this is a public forum the questions I have might not be appropriate as they would reveal the info most of us paid for. What is the best way to ask questions?
Bob
Bob
Re: Energy XXI
You can send me an e-mail: dmsteffens@comcast.net
However, feel free to ask them here as I doubt many non-members visit this forum.
However, feel free to ask them here as I doubt many non-members visit this forum.
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group
Re: Energy XXI
An updated company profile for Energy XXI has been posted under the Sweet 16 Tab. Just log on and click on the company's logo under the Sweet 16 Tab.
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group
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bearcatbob
Re: Energy XXI
Simply put 2013 earnings down from $4.44 to $3.07 - below First Call. With such a change - why is there no change in enthusiasm for the shares? Am I reading this right?dan_s wrote:You can send me an e-mail: dmsteffens@comcast.net
However, feel free to ask them here as I doubt many non-members visit this forum.
Bob
Re: Energy XXI
I think most analysts, including me, focus on CFPS and production & reserve growth for E&P companies. GAAP accounting rules really distort E&P earnings from period to period, so it is best to ignore them. Take a look at my CLR forecast model for a prime example.
Energy XXI Cash Flow Per Share Forecast by First Call (My forecast is slightly higher):
FY 2011 Actual = $4.22
FY 2012 Actual = $9.24
FY 2013 Forecast = $9.59 (My forecast is $9.80)
FY 2014 Forecast = $13.62 (My forecast is $14.19)
EXXI production will ramp up sharply in Q4 and should continue to increase quarter-after-quarter as a result of their aggressive horizontal development well program. Plus the new JV with Exxon is a big deal with lots of near-term potential.
EXXI has a very strong technical team and well respected by the industry.
Energy XXI Cash Flow Per Share Forecast by First Call (My forecast is slightly higher):
FY 2011 Actual = $4.22
FY 2012 Actual = $9.24
FY 2013 Forecast = $9.59 (My forecast is $9.80)
FY 2014 Forecast = $13.62 (My forecast is $14.19)
EXXI production will ramp up sharply in Q4 and should continue to increase quarter-after-quarter as a result of their aggressive horizontal development well program. Plus the new JV with Exxon is a big deal with lots of near-term potential.
EXXI has a very strong technical team and well respected by the industry.
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group
Re: Energy XXI
McMoRan Exploration Co. Updates Gulf of Mexico Exploration and Development Activities 11/26 02:05 PM
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NEW ORLEANS--(BUSINESS WIRE)-- McMoRan Exploration Co. (MMR:$9.66,00$-2.79,00-22.41%) updated its ultra-deep exploration and development activities in the shallow waters of the Gulf of Mexico (GOM) Shelf and onshore in the Gulf Coast area, including in progress flow testing operations at Davy Jones No. 1, positive drilling results onshore at Lineham Creek, new logging results from Blackbeard West No. 2 and in progress operations at Lomond North.
McMoRan today provided an update on the Davy Jones No. 1 production test currently in progress on South Marsh Island Block 230. As previously reported in October 2012, McMoRan replaced heavy drilling mud in the hole with clear completion fluid, which was required to suppress flow in the well while the final steps were completed. On November 11, 2012, the well was opened for test and flowed gas into an unmetered atmospheric tank before being flared. To date, MMR has recovered completion fluids with weights of approximately 9 and 19 pounds per gallon and is initiating operations to inject a barite solvent into the formation in order to clean out the perforations to achieve a measureable flow test. McMoRan will provide updates as flow testing operations progress and a measurable flow test is achieved.
As previously reported, McMoRan has drilled two successful sub-salt wells in the Davy Jones field. The Davy Jones No. 1 well logged 200 net feet of pay in multiple Wilcox sands, which were all full to base. The Davy Jones offset appraisal well (Davy Jones No. 2), which is located two and a half miles southwest of Davy Jones No. 1, confirmed 120 net feet of pay in multiple Wilcox sands, indicating continuity across the major structural features of the Davy Jones prospect, and also encountered 192 net feet of potential hydrocarbons in the Tuscaloosa and Lower Cretaceous carbonate sections.
Davy Jones involves a large ultra-deep structure encompassing four OCS lease blocks (20,000 acres). McMoRan is the operator and holds a 63.4 percent working interest and a 50.2 percent net revenue interest in Davy Jones. Other working interest owners in Davy Jones include: Energy XXI (EXXI:$31.485,0$-2.445,0-7.21%) (15.8%), JX Nippon Oil Exploration (Gulf) Limited (12%) and Moncrief Offshore LLC (8.8%).
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NEW ORLEANS--(BUSINESS WIRE)-- McMoRan Exploration Co. (MMR:$9.66,00$-2.79,00-22.41%) updated its ultra-deep exploration and development activities in the shallow waters of the Gulf of Mexico (GOM) Shelf and onshore in the Gulf Coast area, including in progress flow testing operations at Davy Jones No. 1, positive drilling results onshore at Lineham Creek, new logging results from Blackbeard West No. 2 and in progress operations at Lomond North.
McMoRan today provided an update on the Davy Jones No. 1 production test currently in progress on South Marsh Island Block 230. As previously reported in October 2012, McMoRan replaced heavy drilling mud in the hole with clear completion fluid, which was required to suppress flow in the well while the final steps were completed. On November 11, 2012, the well was opened for test and flowed gas into an unmetered atmospheric tank before being flared. To date, MMR has recovered completion fluids with weights of approximately 9 and 19 pounds per gallon and is initiating operations to inject a barite solvent into the formation in order to clean out the perforations to achieve a measureable flow test. McMoRan will provide updates as flow testing operations progress and a measurable flow test is achieved.
As previously reported, McMoRan has drilled two successful sub-salt wells in the Davy Jones field. The Davy Jones No. 1 well logged 200 net feet of pay in multiple Wilcox sands, which were all full to base. The Davy Jones offset appraisal well (Davy Jones No. 2), which is located two and a half miles southwest of Davy Jones No. 1, confirmed 120 net feet of pay in multiple Wilcox sands, indicating continuity across the major structural features of the Davy Jones prospect, and also encountered 192 net feet of potential hydrocarbons in the Tuscaloosa and Lower Cretaceous carbonate sections.
Davy Jones involves a large ultra-deep structure encompassing four OCS lease blocks (20,000 acres). McMoRan is the operator and holds a 63.4 percent working interest and a 50.2 percent net revenue interest in Davy Jones. Other working interest owners in Davy Jones include: Energy XXI (EXXI:$31.485,0$-2.445,0-7.21%) (15.8%), JX Nippon Oil Exploration (Gulf) Limited (12%) and Moncrief Offshore LLC (8.8%).
Re: Energy XXI
The problems they keep having getting this well tested are related to high bottom hole pressures and the heat down there. High pressure is good it they can ever get the well completed.
IMO the market has once again over-reacted to this one well. I have nothing in my EXXI forecast for Davy Jones or any of the Ultra Deep prospects.
I just think there are lots of speculators in this stock that never stand back and look at what else Energy XXI has going on.
IMO the market has once again over-reacted to this one well. I have nothing in my EXXI forecast for Davy Jones or any of the Ultra Deep prospects.
I just think there are lots of speculators in this stock that never stand back and look at what else Energy XXI has going on.
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group