Energy XXI has implemented an “acquire and exploit” growth strategy to build a geographically focused portfolio with some of the highest per-unit margins in the industry. The company has focused on developing the acquired properties while ramping up a complementary exploration program designed to provide organic growth for the future. Energy XXI completed four major acquisitions totaling approximately $1.4 billion since its founding in October 2005, creating a company with more than 75 million barrels of oil equivalent (BOE) of proved reserves and about 26,000 BOE per day of production, 68% of which is oil. Energy XXI operates approximately 80% of its proved reserves, with 287 wells in 51 producing fields. The company’s core properties are located in coastal and offshore Louisiana.

John D. Schiller Jr.  

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Business Strategy

Our acquisition strategy focuses primarily on mature oil-producing assets on the Gulf of Mexico shelf. The company’s goal is to extract upside from these properties through production optimization and low-risk drilling, guided by extensive field studies of the primary reservoirs. The company also is pursuing a complementary exploration program designed to provide organic growth for the future, including select high-impact tests of ultra-deep shelf prospects.