Energy XXI to Buy Gulf of Mexico Shelf Assets for $1 Billion
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Energy XXI (Bermuda) Ltd. has agreed to acquire several shallow-water Gulf of Mexico shelf oil and natural gas properties from Exxon Mobil Corp. affiliates for $1.01 billion, the company said in an e-mailed statement today.
The properties, which include nine fields on the Gulf of Mexico shelf on a total of 130,853 net acres, produce around 20,000 barrels of oil equivalent per day, of which 53 percent is oil, the company said in the statement.