Energy XXI - eine independent E&P Oil&Gas Company, ISIN: BMG100821401 - 500 Beiträge pro Seite

[DJHLS]

Dieses Unternehmen hat mir schon viel Freude bereitet. Steueroptimiert dank Sitz auf den Bermudas. Vor allem aber produzieren die schon und können daher CapEx für Acquisitionen, Exploration und Development auch aus dem Cash Flow stemmen.

Geografisch liegen die Assets auch in politisch eher stabilen Gebieten. Allerdings stehen den Chancen bei der Exploration natürlich auch die Risiken von Fehlschlägen gegenüber.

Nun steht offenbar Acquisition in Aüdostasien auf der Agenda: http://mobile.bloomberg.com/news/2013-10-17/energy-xxi-seeks…

First Mover ist EXXI nicht, aber die Gegend ist durchaus noch underexplored.

[DJHLS]

Aktienrückkäufe sind meist ein gutes Zeichen: http://www.stockmarketwire.com/article/4730710/Energy-XXI-bu…

[DJHLS]

Erst hat der sinkende Ölpreis bei EXXI den Kurs im Verein mit anderen Mineralölfirmen gesunken und mit den enttäuschenden Quartalszahlen ging es nochmal kräftig weiter runter: http://www.thestreet.mobi/story/12318107/1/why-energy-xxi-exxi-is-tumbling-on-friday.html

[DJHLS]

Die Übernahme von EPL durch EXXI ist am Markt komplett durchgefallen. Aber ohne eine kräftigen Aufschlag auf den Börsenkurs hätte es für die EPL-Aktionäre ja auch keinen Grund gegeben, das Angebot anzunehmen.

Ich kann mir durchaus vorstellen, dass EPL wie EXXI oder sogar noch stärker unterbewertet war und die Übernahme auch zu dem Preis einen Sinn ergibt.

Das scheint auch der Tenor dieses Artikels zu sein: http://www.fool.com/investing/general/2014/03/29/energy-xxi-…

[DJHLS]

Tja nun, das Analystenhaus Raymond James findet die Übernahme gut und gibt als Kursziel 29 USD aus, also ca. 40%. http://www.theflyonthewall.com/permalinks/entry.php/EXXI;EPL…

[DJHLS]

Vorgestern bekamen die EPL-Aktionäre offenbar anstelle ihrer EPL-Aktien die EXXI-aktien ins Depot gebucht. Ich nehme mal an, dass das ein Grund für den Verkaufsdruck ist.

[DJHLS]

In diesem Artikel wird nochmal auf die Insiderkäufe und das Kursziel von 29 USD sowie die Vorteile der Übernahme von EPL eingegangen: http://m.seekingalpha.com/article/2227943-energy-xxi-positiv…

Der wesentliche Faktor ist m. E., dass EXXI durch das eigene Portfolio an Lizenzen das Know How von EPL stark hebelt.

[DJHLS]

Lange nichts mehr zu EXXI geschrieben. Der Kurs spricht ja auch für sich. Aktuell ist die Aktie in einem deutlichen Abwärtstrend. Für Chartisten herrscht strenges Kauf- und Halteverbot.

Für value- und contrarion-Anleger sieht es anders aus: http://www.fool.com/investing/general/2014/09/27/why-energy-…

Entscheidend sind aber, dass die avisierten Kostensenkungen und Produktions- und Reservensteigerungen erreicht werden. Ein steigender Ölpreis würde natürlich helfen.

[DJHLS]

Operational Update ist online: http://www.streetinsider.com/Corporate+News/Energy+XXI+%28Be…

Produktion steigt, Erschließungsbohrungen erfolgreich, Ölpreis-Hedging sichert die Marge - sieht eigentlich gut aus. Bei den Kostensenkungen hätte ich noch etwas stärkere Rückgänge erwartet. Es fehlt eine Aussage zu den Reserven.

[DomRuinart]

Chapter 11 ante portas?
Kursverlauf und News coverage scheinen sich ja einig zu sein, dass der Laden noch im Oktober bankrottgeht. Ich denke jedoch, dass es nicht so kommen wird. Die restrukturieren Ihre Schulden jetzt ähnlich wie es Arch Coal gemacht hat, und werden evtl. schon diese Woche bei der Barclays CEO Energy/Power Conference 2015 oder aber wenn sie Ihre Earnings bekannt geben dazu Stellung nehmen. Könnte mir danach einen netten Kurssprung vorstellen. Langfristig dann auf jeden Fall ein guter Hebel zu steigenden Öl-Preisen. Bei den Assets die die im Golf von Mexiko halten sind die auf momentanen Kursniveau jedenfalls einen kleinen Zock wert.

Energy XXI Reports Restatement of Prior Period Financials Due to Change in Derivative Accounting Method
Non-Cash Restatement With no Impact to Cash/Liquidity
September 08, 2015 07:00 ET | Source: Energy XXI
HOUSTON, Sept. 8, 2015 (GLOBE NEWSWIRE) -- Energy XXI Ltd (NASDAQ:EXXI) (the "Company") today announced that it will restate its financial statements to correct its method of accounting for crude oil and natural gas hedging to reflect unrealized hedging gains and losses in the Company's consolidated statements of operations as a component of earnings rather than on its consolidated balance sheets.
Historically, under the cash flow hedge accounting, the Company recorded the unrealized gains and losses on its derivative contracts, net of the related tax impact, in accumulated other comprehensive income or loss as part of the consolidated balance sheet, until the production month when the associated hedge contracts were settled at which time gains or losses associated with the settled contracts were reclassified to revenues.
During the preparation of its annual report on Form 10-K for the year ended June 30, 2015 (the "2015 Form 10-K"), the Company recently determined that certain oil and gas hedges did not qualify for cash flow hedge accounting treatment at their date of designation. The primary reason for this derivative accounting change was that the formal hedge documentation lacked specificity of the hedged items and, therefore, the designations failed to meet the very complex technical documentation requirements for cash flow hedge accounting treatment.
The Company will restate its previously issued consolidated financial statements for the years ended June 30, 2014, 2013, 2012 and 2011 and for the quarters ended September 30, 2014 and 2013, December 31, 2014 and 2013, March 31, 2015 and 2014 and June 30, 2014. The Company filed a report on Form 8-K providing further details regarding the expected impact of these non-cash adjustments on its financial statements for each restated period. This restatement primarily reflects the unrealized recognition of gains and losses on derivative financial instruments described above. However, the restatement also reflects resulting adjustments to net oil and natural gas properties, impairment of oil and natural gas properties and depreciation, depletion and amortization due to the previous inclusion of the value of the cash flow hedges in the Company's full cost ceiling test, which is only permitted if the derivative instruments qualify for cash flow hedge accounting; and adjustments to deferred income taxes and income tax expense (benefit). While these non-cash adjustments impact revenues, net income (loss) and net income (loss) per common share for each period, as well as total stockholders' equity, these adjustments do not impact the economics of the hedge transactions or net cash flows from operating, investing or financing activities, nor do they affect the Company's liquidity or adjusted earnings before interest, taxes, depreciation, and amortization ("EBITDA") for each such period.
2015 Form 10-K, Earnings Release for Fiscal 2015 Fourth-Quarter and Year-End 2015 and Related Conference Call
In order to complete the restatements and related review by the Company's independent registered public accounting firms, the Company will file a Notification of Late Filing on Form 12b-25 in order to obtain an additional fifteen calendar days to file the 2015 Form 10-K. The Company also announced that it plans to postpone the distribution of its 2015 fourth quarter and 2015 fiscal year earnings release and related conference call, previously scheduled for Monday, September 14, 2015. The Company will provide a public update on the timing of the call as soon as practicable.
About the Company
Energy XXI is an independent oil and natural gas 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.
Quelle: GlobeNewswire, Inc.

[DomRuinart]

Auf geht’s...

September 14, 2015
Energy XXI Provides Fiscal Year-End Reserves Update
HOUSTON, Sept. 14, 2015 (GLOBE NEWSWIRE) -- Energy XXI (NASDAQ:EXXI) today announced fiscal year-end reserves.

2015 fiscal year-end reserves were estimated at 183.5 MMBOE
Proved reserves are 75 percent oil
Proved reserves pre-tax present value is $2.8 billion
Production and divestitures account for 54 percent of reserve reductions
Majority of revisions due to price and reduced capital spending
"Our proved reserves decreased primarily due to production of 22 million barrels of oil equivalent ("MMBOE") during fiscal year 2015, as well as the divestiture of non-core assets, price-based adjustments, and our reduced capital expenditures due to the current low commodity price environment," Energy XXI Chairman, President and Chief Executive Officer John Schiller said. "Our Fiscal Year 2015 reserve additions of 17 MMBOE demonstrate our ability to continue to replace our reserves organically while upgrading our portfolio by delivering on the divesture of our higher cost, non-core properties. It is significant that 68 percent of the proved reserves have already been developed, demonstrating the high quality and potential of our liquid-rich asset base. When looking at our reserves, it is important to note that 100 percent of the total future abandonment costs are booked against proved developed reserves," Mr. Schiller continued. "The reserves that we lost to price and reduced forecasted capital expenditures over the next five years don't simply go away; those hydrocarbons are still in the ground and as prices recover we expect to once again realize the value of those barrels."

The company's June 30, 2015 fiscal year-end proved reserves were estimated at 183.5 MMBOE. The present value of proved reserves total $2.8 billion. The company has proved and probable reserves totaling 265.7 MMBOE, with a present value of $4.5 billion.

All of the company's proved reserves are in the Gulf of Mexico or U.S. Gulf Coast, 68 percent are proved developed, 75 percent are liquids (of which 95 percent is crude oil and condensate), and 25 percent are natural gas. Year-over-year proved developed reserves, as a percentage of total proved reserves, increased by seven percent.

Quelle: Energy XXI