Energy XXI Bermuda Ltd shares are currently trading up about 2.7% on the day.
Energy XXI Bermuda Ltd shares are currently trading up about 3.5% on the day.
Energy XXI Bermuda Ltd shares are currently trading off about 5.3% on the day.
On Friday May 13th, Energy XXI held its second annual analyst day in NYC.
Energy XXI ( EXXI), whose name utilizes the Roman numeral 21, has been no exception.
Energy XXI Bermuda Ltd shares are currently trading up about 2.5% on the day.
Energy XXI Bermuda Ltd shares are currently trading up about 5% on the day.
Energy XXI Bermuda Ltd shares are currently trading off about 3.1% on the day.
Other partners in the well include Energy XXI (Nasdaq:EXXI) and billionaire Tex Moncrief.
FORBES: Chevron Makes Big Discovery In Louisiana - And It's Not Even Done Drilling Yet
Energy XXI is a fairly young company, founded just a few years ago in October 2005.
FORBES: Energy XXI Coins Money Reworking Old Exxon Mobil Wells
Lappin, Gramercy Capital and its clients own shares in McMoRan and Energy XXI at this time.
Lappin, Gramercy Capital, and its clients own shares in Energy XXI and McMoRan at this time.
FORBES: McMoRan's Moffett And Partners Refuse to Give Up at Davy Jones 1
McMoran and its partner Energy XXI have worked patiently to move this drilling program forward.
FORBES: McMoRan DeRisks the Ultra Deep As It Nears a Financial Bonanza
Leaders in that quest include McMoRan, Energy XXI, Plains Petroleum and among the majors, Chevron and Exxon Mobil.
FORBES: GE's Immelt: Natural Gas Now Much Cheaper Than Nuclear
Both Energy XXI and McMoRan Exploration shot up dramatically when the Davy Jones discovery was announced because of its size and importance.
However, Energy XXI and other shallow water drillers are also being punished.
Last week in London, John Schiller of Energy XXI, a junior partner in the well, said that they were back below 30, 000 feet.
At the end of 2010, Energy XXI purchased a billion dollars worth of declining oil and gas properties from Exxon Mobil, in the Gulf of Mexico.
Energy XXI has been appearing regularly at energy conferences and has become the conduit of information from McMoran for impatient investors in the Ultra Deep play.
Energy XXI is not involved with all of them but does have interests in Blackbeard East and West, Davy Jones and Lafitte which I discuss later.
McMoRan and Energy XXI are working furiously to unlock the huge gas discoveries they have made in the Gulf of Mexico Shallow Water Ultra Deep play.
FORBES: With The Dow At All Time Highs, Why Are Investors So Queasy?
Why single out Schiller and Energy XXI when partner McMoRan (led by Jim Bob Moffett) has a much bigger stake in these projects and is controlling the operations?
FORBES: Names You Need To Know In 2011: John Schiller At Energy XXI
We may need to evacuate a drilling rig out in the Gulf of Mexico such as McMoRan, Energy XXI did with the approach of Hurricane Isaac earlier this summer.
The importance of this factor is that the super expensive BOP will be recycled through the completions of the other wells MMR and its partners including Energy XXI are now drilling.
Energy XXI (Nasdaq: EXXI, up 30% this morning) holds a 16% interest in the well, Plains has 28% (NYSE: PXP, up 5%), while McMoran (NYSE: MMR, up 40%) operates with 33%.
Over the last two years McMoRan and Energy XXI, its exploration partner, have seen their shares surge and collapse with both oil and gas prices and also their success with the drill bit.
As just one example, last week I spoke with John Schiller, chief executive of offshore driller Energy XXI, who used to drill a lot of deepwater wells when he was with Ocean Energy and Devon Energy.
FORBES: Obama-Picked Investigator Says No Safety Shortcuts In Blowout Well. Really?
At this point, he and his partners, Energy XXI and the legendary Texas oil man Tex Moncrief, have pursued the Shallow Water Ultra Deep (SWUD) play in the Gulf of Mexico with a persistence that is something to behold.
FORBES: McMoRan's Moffett And Partners Refuse to Give Up at Davy Jones 1
In the case of Energy XXI Bermuda Ltd, the RSI reading has hit 29.4 by comparison, the universe of energy stocks covered by Energy Stock Channel currently has an average RSI of 38.0, the RSI of WTI Crude Oil is at 23.2, and the RSI of Henry Hub Natural Gas is presently 64.0.
应用推荐