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News Breaks
December 3, 2012
08:39 EDTEXXI, MMRMcMoRan Exploration updates operations at Davy Jones No. 1
McMoRan Exploration (MMR) provided an update on the Davy Jones No. 1 operations currently in progress on South Marsh Island Block 230. As previously reported, the well was opened for testing in November. Completion fluids were recovered from the well but flow was believed to be restricted by residual barite in the perforations. Barite is a heavy component of drilling mud that was used to suppress flow of the well. Recent operations to stimulate the well by injecting a solvent to dissolve the barite had limited success as a result of insufficient contact of the barite with the solvent. McMoRan is initiating operations to use a propellant stimulation gun to create fractures that will extend beyond the suspected formation damage to attempt to unblock the perforations and if necessary McMoRan may inject additional solvent to make contact and dissolve the barite. McMoRan will provide updates as flow testing operations progress and a measurable flow test is achieved. 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% working interest and a 50.2% net revenue interest in Davy Jones. Other working interest owners in Davy Jones include: Energy XXI (EXXI) (15.8%), JX Nippon Oil Exploration (Gulf) Limited (12%) and Moncrief Offshore LLC (8.8%).
News For MMR;EXXI From The Last 14 Days
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October 5, 2015
18:56 EDTEXXIOn The Fly: After Hours Movers
HIGHER: Regulus Therapeutics (RGLS), up 8.7% after the company announced that it will present new preclinical data on RG-012 for kidney disease... Palatin Technologies (PTN), up 9.6% after director Robert deVeer Jr. buys 10,000 shares of common stock... Arena Pharmaceuticals (ARNA), up 4.7% after CEO Jack Lief announced his retirement and Harry Hixson was named interim CEO... DuPont (DD), up 5.9% after CEO and chair Ellen Kullman retires... Ruckus Wireless (RKUS), up 4.9% after joining the S&P 600... Starz (STRZA), up 10.1% after the LA Times reports that Lionsgate (LGF) is in advanced talks to merge with Starz. DOWN AFTER EARNINGS: Container Store (TCS), down 10.4%. ALSO LOWER: Sarepta Therapeutics (SRPT), down 3.8% after filing to sell $125M of common stock... Haemonetics (HAE), down 12.2% after lowering its fiscal 2016 outlook... Energy XXI (EXXI), down 8.3% after filing a $500M mixed securities shelf... Mallinckrodt (MNK), down 1.6% after announcing that it will provide a business update and financial guidance for the fiscal year ending September 30, 2016, on an investor call on October 6.
16:57 EDTEXXIEnergy XXI files $500M mixed securities shelf
September 29, 2015
17:40 EDTEXXIEnergy XXI suspends development drilling program at West Delta 73
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17:38 EDTEXXIEnergy XXI sees Q1 production average 58,300 BOE/d, 71% oil
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17:38 EDTEXXIEnergy XXI sees FY16 oil and NGLs production 35K-40K Bbls
Sees FY16 net production of 54K-59K BOE/d, 66% oil.
17:36 EDTEXXIEnergy XXI reports Q4 EPS ($17.92), may not compare to consensus ($1.22)
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