EXXI update
Posted: Tue Oct 22, 2013 4:09 pm
Energy XXI says quarterly production averaged 46K boe/day
In an operations update, Energy XXI (EXXI) says FQ1 production averaged ~46.6K boe/day, with oil production accounting for 63% and in-line with the expected 47K year-end exit rate even as only two rigs drilled development wells during the quarter.
EXXI says its horizontal program has helped production at the West Delta 73 field triple since its acquisition.
FY 2014 capex is projected at $675M, $15M more than previously announced due to the reclassification of certain G&A as capitalized costs.
Shares +0.4% AH.
In an operations update, Energy XXI (EXXI) says FQ1 production averaged ~46.6K boe/day, with oil production accounting for 63% and in-line with the expected 47K year-end exit rate even as only two rigs drilled development wells during the quarter.
EXXI says its horizontal program has helped production at the West Delta 73 field triple since its acquisition.
FY 2014 capex is projected at $675M, $15M more than previously announced due to the reclassification of certain G&A as capitalized costs.
Shares +0.4% AH.