Energy XXI Closes Acquisition of Gulf of Mexico Shelf Properties From ExxonMobil

Energy XXI announced it has completed the previously announced purchase of certain shallow-water Gulf of Mexico shelf oil and natural gas interests from ExxonMobil and its affiliates.
The acquisition nearly doubles the company's reserves and production profile, adding approximately 20,000 net barrels of oil equivalent (BOE) per day of production, about 53 percent of which is oil, and an estimated 66 million BOE of net proved and probable reserves, 61 percent of which is oil. Offshore leases included in the purchase total 130,853 net acres.
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Source: Stock Markets Review