Energy XXI

(EXXI)

Energy XXI has implemented an "acquire and exploit" growth strategy to build a geographically focused portfolio with some of the highest per-unit margins in the industry. The company has focused on developing the acquired properties while ramping up a complementary exploration program designed to provide organic growth for the future.

Energy XXI is an independent oil & natural gas exploration and production company whose growth strategy emphasizes acquisitions, enhanced by its value-added organic drilling program.

The company's core properties are offshore and onshore the Louisiana Gulf Coast. Offshore properties are primarily comprised of large legacy oil fields where activity focuses on exploitation, while onshore properties are primarily natural gas focused, with a large exploration component.

In February 2006, Energy XXI agreed to acquire Marlin Energy for $421 million. The transaction was completed 42 days later, thereby upholding management's commitment to its IPO shareholders to effect a transaction within four to six months. The Company has since completed four additional major acquisitions including the December 2010 purchase of Gulf of Mexico Shelf properties from ExxonMobil, making Energy XXI the third largest oil producer on the Shelf.