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Stock Market & Financial Investment News

News Breaks
November 7, 2012
08:34 EDTEXXIEnergy XXI Q1 production averaged 37,300 BOE/d, with 70 percent being oil
Current production approximates 46,000 BOE/d, with another 6,000 BOE/d temporarily offline, including 2,300 BOE/d due to pipeline and water handling facility repairs at the West Delta 30 field that are expected to be completed within 10 days.
News For EXXI From The Last 14 Days
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July 1, 2015
07:06 EDTEXXIEnergy XXI announces sale of East Bay Field
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June 30, 2015
13:42 EDTEXXICorEnergy completes GIGS acquisition, board confirms dividend raise
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10:59 EDTEXXICorEnergy could be worth $13 per share, says Wells Fargo
Wells Fargo views CorEnergy's (CORR) recently announced plans to buy the Grand Isle Gathering System from Energy XXI (EXXI) as a net positive, but also a deal that carries risks due to the financial health of the seller. The firm maintains its Outperform rating on CorEnergy and raised its price target range on the stock to $9-$11, but added that it believes the stock could be worth $13 per share if Energy XXI's financial position improves and the visibility of future payments increases.
June 22, 2015
19:00 EDTEXXIOn The Fly: After Hours Movers
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16:25 EDTEXXIEnergy XXI monetization of GIGS takes current liquidity to nearly $1B
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16:19 EDTEXXICorEnergy to acquire GIGS from Energy XX for $245M in cash
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07:05 EDTEXXIEnergy XXI reaches agreement with BOEM on supplemental bonding
Energy XXI announced that after several constructive meetings and exchanges of information, Energy XXI has reached an agreement with the Bureau of Ocean Energy Management, or BOEM, with regard to supplemental bonding requirements for the company and its subsidiaries. Energy XXI has provided $150M of supplemental bonding, bringing the company's total supplemental bonding to $319M at an annual premium expense of $4.8M, with approximately $10M collateral posted. In addition, the company maintains $226M in Letters of Credit to third parties on additional assets in the Gulf of Mexico. The BOEM has agreed to withdraw its orders with regard to supplemental bonding upon dismissal of the appeals filed by Energy XXI with the Interior Board of Land Appeals, and postponed until November 15 the issuance of any further requirements for financial assurance with respect to activities on existing properties of Energy XXI and its subsidiaries. In addition to the consideration provided under the agreement, during the interim period, Energy XXI and its subsidiaries continue to cooperate with and engage in constructive discussions with the BOEM and its sister agency, the Bureau of Safety and Environmental Enforcement, with regard to decommissioning and financial assurance matters.

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