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Energy M&A image Energy M&A » By The Online Investor Staff, updated Thu., Apr. 25, 8:01 AM Recent mergers and acquisitions in the Energy M&A category.

Slide #42. Energy XXI EPL Oil & Gas

Acquirer: Energy XXI (EXXI)
Acquiree: EPL Oil & Gas (EPL)
Details: Energy XXI (Nasdaq:EXXI) (LSE:EXXI) and EPL Oil & Gas, Inc. (NYSE:EPL) today announced the signing of a definitive merger agreement pursuant to which Energy XXI will acquire all of EPL's outstanding shares for total consideration of $2.3 billion, including the assumption of debt. As a result of the merger, Energy XXI will become the largest public independent producer on the Gulf of Mexico shelf, with production of approximately 65,000 barrels of oil equivalent (BOE) per day, 70 percent oil, including a reduction related to the pending divestiture of non-operated interests in the Eugene Island 330 and South Marsh Island 128 fields. Upon completion of the merger, Energy XXI expects to have an enterprise value of approximately $6 billion.

Energy XXI Gulf Coast is engaged in the acquisition, exploration, development and operation of oil and natural gas properties onshore in Louisiana and Texas and offshore in the Gulf of Mexico Shelf, which is an area in less than 1,000 feet of water (GoM Shelf). As of Dec 31 2016, Co. owned and operated nine GoM Shelf oil fields. As of the same date, Co.'s total proved reserves were 121.9 million barrels of oil equivalent of which 81.0% were oil and 70.0% were classified as proved developed. The total proved reserves consisted of 95.2 million barrels of gas, 3.1 million barrels of natural gas liquids, and 141.24billion cubic feet of natural gas.

Open the EXXI Page at The Online Investor »

Energy XXI Gulf Coast is engaged in the acquisition, exploration, development and operation of oil and natural gas properties onshore in Louisiana and Texas and offshore in the Gulf of Mexico Shelf, which is an area in less than 1,000 feet of water (GoM Shelf). As of Dec 31 2016, Co. owned and operated nine GoM Shelf oil fields. As of the same date, Co.'s total proved reserves were 121.9 million barrels of oil equivalent of which 81.0% were oil and 70.0% were classified as proved developed. The total proved reserves consisted of 95.2 million barrels of gas, 3.1 million barrels of natural gas liquids, and 141.24billion cubic feet of natural gas.

Open the EPL Page at The Online Investor »

Company Name:  Energy XXI Gulf Coast Inc
Stock buyback:  EXXI buyback
Website:  www.energyxxi.com
Sector:  Oil & Gas Exploration & Production
Company Name:  EPL Oil & Gas Inc
Website:  www.eplweb.com
Sector:  Oil & Gas Exploration & Production
 

April 25, 2024    8:01 AM Eastern
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