Energy XXI high bidder in Gulf of Mexico Lease Sale

Energy XXI has announced it was the apparent high bidder in 10 shallow-water blocks in the Central Gulf of Mexico Lease Sale 231, with a total investment of approximately $2.6 million.

The bids are subject to approval by the U.S. Bureau of Ocean Energy Management.

Eight blocks were bid solely by Energy XXI and included acreage in Ship Shoal, South Pass, West Delta, and Grand Isle. Two blocks were jointly bid with Fieldwood and Apache in Viosca Knoll and Main Pass. Energy XXI’s bids were focused on areas adjacent to existing operations, which could provide near-term development opportunities.

Energy XXI is an independent oil and natural gas exploration and production company whose growth strategy emphasizes acquisitions, enhanced by its value-added organic drilling program. The company’s properties are located in the U.S. Gulf of Mexico waters and the Gulf Coast onshore.

 

Press Release, March 21, 2014

 

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