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Stock Market & Financial Investment News

News Breaks
January 30, 2013
16:30 EDTMMR, EXXIMcMoRan Exploration updates status of Davey Jones No. 1
McMoRan Exploration (MMR) updated the status of the Davy Jones No. 1 well on South Marsh Island Block 230. As previously reported, McMoRan is developing plans at the Davy Jones No. 1 well to pump a hydraulic fracture treatment including proppant to facilitate hydrocarbon movement into the wellbore. Future plans will incorporate data gained to date at Davy Jones as well as potential core and log data from the in progress well at Lineham Creek, located onshore approximately 50 miles northwest of Davy Jones. The rig is being moved off location for several months while a large scale hydraulic fracture treatment is designed to penetrate the Wilcox reservoirs. As previously reported, 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. McMoRan is the operator and holds a 63.4% working interest and a 50.2% net revenue interest in Davy Jones. Another working interest owner in Davy Jones includes Energy XXI (EXXI), 15.8%.
News For MMR;EXXI From The Last 14 Days
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March 23, 2015
09:52 EDTEXXIEnergy XXI sees Q3 production 58,000-62,000 BOE/d
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09:52 EDTEXXIEnergy XXI lowers 2015 capex view to $640M-$660M
Energy XXI projected FY15 capex of $640M-$660M in slides for its presentation at the Howard Weil energy conference. On February 9, the company had estimated total FY15 capital program to range from $670M-$690M. Energy XXI still sees FY15 production 57,000-61,000 BOE/d. The company said it is pursuing asset monetization for midstream and non-core E&P and that for the combined GoM divestiture with M21K that bids have been received and negotiations are underway with potential buyers. Says annualized savings approaching $170M.
March 20, 2015
05:49 EDTEXXIStocks with implied volatility movement; EXXI FXCM
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