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HOUSTON, March 20, 2014 (GLOBE NEWSWIRE) -- Energy XXI (Nasdaq:EXXI) (LSE:EXXI) today 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.
About the CompanyEnergy 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. Cantor Fitzgerald Europe is Energy XXI's listing broker in the United Kingdom. To learn more, visit the Energy XXI website at www.EnergyXXI.com.Forward-Looking StatementsAll statements included in this release relating to future plans, projects, events or conditions and all other statements other than statements of historical fact included in this release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based upon current expectations and are subject to a number of risks, uncertainties and assumptions, including changes in long-term oil and gas prices or other market conditions affecting the oil and gas industry, reservoir performance, the outcome of commercial negotiations and changes in technical or operating conditions, among others, that could cause actual results, including project plans and related expenditures and resource recoveries, to differ materially from those described in the forward-looking statements. Energy XXI assumes no obligation and expressly disclaims any duty to update the information contained herein except as required by law.
CONTACT: Energy XXI
Vice President, Investor Relations and Communications
Director, Investor Relations
Cantor Fitzgerald Europe
Nominated Adviser: David Porter, Rick Thompson
Corporate Broking: Richard Redmayne
Tel: +44 (0) 20 7894 7000
Pelham Bell Pottinger
+44 (0) 20 7861 3232