Energy XXI Ltd. (NASDAQ:EXXI)

2013 TP $46

Very solid existing reserves. Near and long term increasing production via the drill bit in existing fields and new field exploration with Exxon in Vermillion. Cash in the bank exceeds LTD and drilling is funded via FCF. The down side of a failure of MMR's Ultra Deep is not all that large while the up side would be a nice plus.
Whats not to like?

These guys are the opposite of ATPG. They are doing it right. Even a small dividend in there as a kicker.

Nat gas prices will rebound, SUD drilling in the gulf will prove profitable.

This is a young technologically advanced and business-savvy domestic oil and gas exploration and production company that has a two-prong strategy offering potential game-changing upside profitability. This involves economically acquiring and exploiting old Gulf of Mexico on-shore and shallow-water ultra-deep shelf wells, as well as further exploring these legacy properties with advanced seismic technologies to find and bring-up vast amounts of additional oil and gas reserves still trapped in the wells. The wells are accessible by the ground unlike deep-water properties, and the blow-out preventers are above-ground. This allows for more safely and more economically drilling for these vast reserves -- providing the opportunity potentially large upside profitability. The company's 5 year annualized revenue growth rate from 2007 - 2011 was 78%. Estimated revenue growth for 2011 is 34%. EXXI operates or has interest in 7 of the 11 largest oil fields in the Gulf of Mexico. The company's core properties are located offshore and onshore the Louisiana Gulf Coast.

Kicking myself bought this stock and made small profit sold it 9/09 @1.33 ahhh look at it now. Word to the wise keep checking back! I still see growth potential here.

energy

With their recent acquisition of currently performing leases and their participation in MMR's ultra-deep wells expected to come on in 2012, this stock has significant upside potential.

Long Term Upward Sloping Trading Channel

exxi

Yes.

In my opinion XOM was foolish to let their GOM properties go for so cheap. I think this was an emotional move based on recent government restrictions on developing GOM properties. I agree that the current government is irrational on offshore development, but I am also confident that eventually the facts will prevail, and GOM properties will be developed. EXXI pulled the rabbit out of the hat, and executed on a great opportunity in a timely fashion. This company is going places fast.

Just purchased gas and oil fields from Exxon. This increases their reserves and product by 70% and I dont think the price of gas and oil will be going down in the long term no matter how many Volts hit the road.

In my opinion, EXXI is the better way to play the ultradeep shelf than through MMR. Reserves, while apparently very large, are quite a long way off due to technological challenges (specifically, wellheads and completions) and to extremely low gas prices, which will extend at least through 2011 and most likely well into 2012. EXXI has high quality liquids production to take up the slack in the meantime. They may operate at a small loss due to capital requirements, but the payoff will be very large in the longer term.

When DJ is brought into production and if/when Blackbeard or LaFitte hit, the sky is the limit with this little oiler. Too many great prospects as they join MMR to rewrite the geology of the GOM shelf.

new position as of recent 13F
minor position (less than 05.% of assets)

Any one in on this at .25 is a genius. Partner Mcmoran just struck some black gold in Davy Jones; In time EXXI recent aqcuisitions and current find will shoot this level to double; Possible take overs are not out of the question either

Good growth and earnings.

I find deep value EXXI attractive on both the equity side with existing reserves and exploration catalysts, and on the bond side with excellent support from existing developed reserves and ongoing drilling projects supporting stable and growing EBITDA and free cash flow.