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Energy XXI Reports Fiscal Third-Quarter Results And Provides Operations Update

Exploration and Development Activity

At West Delta 73 (100% WI/ 83% NRI), the Bearclaw well was drilled to 11,100 feet measured depth (MD)/ 8,085 feet true vertical depth (TVD), including a 1,000-foot lateral section into the F-35 sand. Bearclaw was brought online within the past week at 2,600 Bopd and 3.2 million cubic feet per day (MMcf/d) of natural gas, gross, with flowing tubing pressure of 1,150 psi. The next horizontal well at West Delta, Glacier, was recently spud and is drilling below 5,550 feet MD/ 5,400 feet TVD, targeting the F-35 sand with a proposed depth of 10,200 feet MD/ 8,000 feet TVD, including an 800-foot lateral section.  The initial three horizontal wells in West Delta, Big Sky 2, Weimer and Hyden, are delivering a combined 2,400 Bopd, gross.

In the Main Pass 61 field (100% WI/ 78% NRI), the Camacho horizontal well was drilled to 12,620 feet MD/ 6,981 feet TVD into the J-6 sand.  The well was completed and brought online within the past week at 723 Bopd and 8.4 MMcf/d, gross, with flowing tubing pressure of 900 psi. The Quintero well was recently spud and is currently drilling below 6,600 feet MD/ 4,500 feet TVD with a proposed depth of 11,500 feet MD/ 6,560 feet TVD, also targeting the J-6 sand.

At Grand Isle 16/18 (100% WI/ 86% NRI), the Gelato horizontal well was drilled to 14,278 feet MD/ 10,017 feet TVD with a 440-foot lateral into the C-6 sand, and recently brought on production at a gross rate of 500 Bopd and 18 MMcf/d with a flowing tubing pressure of 1,850 psi. The next well at Grand Isle, Vanguard, has been drilled to 9,800 feet MD/ 8,200 feet TVD, logging pay in four separate reservoirs including the targeted C-1 sand. A horizontal completion is planned for the C-1 sand, which has produced 46 million barrels of oil and 39 billion cubic feet of gas in this fault block. 

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