Energy XXI Forms Partnership To Sell Noncore GoM Assets
Transaction Type
Sellers
Basin
Gulf of Mexico
Announce Date
Post Date
Estimated Price
$125.0MM
Description
To acquire Energy XXI's noncore asset portfolio located in the US GoM with production of about 3,000 bbl/d of oil and 9.5 MMcf/d of natural gas and 6.7 MMboe of proved reserves (30% gas). (Entered non-binding term sheet; expected to close 3Q 2018)
(Editor's note: deal terminated as of June 18, 2018; and transaction value estimated by BMO Capital Markets)