This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Energy XXI Reports Audited Fiscal Year-End Results And Provides Operational Update

  • 3P reserves estimated at 310 MMBOE; $10.9 billion in PV-10
  • Drilling program continues to deliver with Big Sky 3, Monte Carlo 2 wells
  • Fiscal 2014 capital program targets volume growth and free cash flow

HOUSTON, Aug. 20, 2013 (GLOBE NEWSWIRE) -- Energy XXI (Nasdaq:EXXI) (LSE:EXXI) today announced fiscal fourth-quarter and full-year financial and operating results for the period ended June 30, 2013, and provided an operational update.

Energy XXI Logo (EPR)

For the 2013 fiscal fourth quarter, adjusted earnings before interest and other, taxes, depreciation, depletion and amortization (adjusted EBITDA) was $208.6 million on revenues of $314.3 million, as volumes averaged 46,800 barrels of oil equivalent per day (BOE/d), 62 percent of which was oil. These results compare with 2012 fiscal fourth-quarter adjusted EBITDA of $223.1 million on revenues of $341.9 million and volumes of 47,600 BOE/d. Net income available for common shareholders in the 2013 fiscal fourth quarter totaled $59.2 million, or $0.72 per diluted share, compared with fiscal 2012 fourth-quarter net income available for common shareholders of $78.3 million, or $0.93 per diluted share.

For the full fiscal year ended June 30, 2013, adjusted EBITDA was $738.0 million, compared with $850.7 million generated in fiscal 2012. Fiscal 2013 net income available for common shareholders was $150.6 million, or $1.86 per diluted share, on revenues of $1.2 billion and production of 43,100 BOE/d. These results compare with net income available for common shareholders for fiscal 2012 of $316.7 million, or $3.85 per diluted share, on revenues of $1.3 billion and production of 44,100 BOE/d.

1 of 5

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,712.66 +34.43 0.19%
S&P 500 2,061.02 +4.87 0.24%
NASDAQ 4,891.2190 +27.8570 0.57%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs