Energy XXI Forms Partnership To Sell Noncore GoM Assets
Transaction Type
Sellers
Basin
Gulf of Mexico
Announce Date
Post Date
Estimated Price
125MM
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)