Energy XXI to form GOM JV with ExxonMobil

摘要

Energy XXI Ltd. (Nasdaq: EXXI) plans to buy shallow-water Gulf of Mexico interests from ExxonMobil Corp. (NYSE: XOM) for an undisclosed amount. Both companies are based in Houston. The agreement covers 5,000 gross acres on Vermilion Block 164, currently producing approximately 1,100 BOE per day net. The asset has produced approximately 44 million BOE since its discovery in 1957.