Anyone ever hear of this company?

Energy XXI.

They offered $2.3B in cash and stock for EPL (never heard of them either).

Kramer was on one of their rigs the other day and interviewed their CEO. I'm curious what others think as well.

CEO John Schiller is an Aggie PETE alum, has dibs on one of the Kyle Field Founders' Suites

Back in 2007 or 2008 they gave all of the A&M PETE juniors and seniors 100 shares of their stock before they moved from the London exchange to the US. Then I think 2 years ago there was a reverse 5-1 stock split. So now I sit with 20 shares.

I do know in late 2008 or early 2009 they were hurting and put their offshore GOM properties on the market. Never sold but seems like they are doing better these days.

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I did not know about the 5-1 reverse split. I got the 100 shares as well - my first and only year in PETE. I'm also not too sure how to access those shares should I ever need to.

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CEO John Schiller is an Aggie PETE alum, has dibs on one of the Kyle Field Founders' Suites

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back when Schiller was at Burlington, they always threw the best pre-interview shindigs at A&M for the PETE's looking for jobs

many companies ordered pizza hut, etc. when Schiller came to town, they rented out a room at the Hilton and had a big catered meal for us. As broke ass college students, it was big time lol

Acquisition makes them the largest publicly traded independent producer on the gulf shelf I believe

I dove in today with a half position.

Good time to buy IMO. This stock has been hounded by the street for not meeting the high expectations that management has set over the past couple of years, but it's right at a bottom that it's established time and time again. With the solid acquisition yesterday and concrete results finally expected to come in the next couple of quarters from the ultra deep exploratory wells they have a stake in there's good reason to believe it'll be moving up in a hurry this year.

tl;dr - great price, huge positive catalysts right on the horizon

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but it's right at a bottom that it's established time and time again.

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I agree

I'm in. Let's see how this goes

Is the Davey Jone's SWUD well a success?

Taking it in the pants today. May have to jump back in.

What's causing the drop?

http://www.wkrb13.com/markets/355316/energy-xxi-bermuda-limited-exxi-posts-quarterly-earnings-misses-estimates-by-0-32-eps/

So how low does it go?

Trying to read tid bits here and there. Apparently a large part of the 'loss' was due tot he acquisition of EPL. Revenue was actually up and forward guidance doesn't seem bad enought to tank it 20%.



[This message has been edited by El chupacabra (edited 8/14/2014 1:15p).]

Whole sector is down today, oil prices down about 2%. Probably just compounding with the headlines. PXD is down big after earnings last week too despite production higher than forecast and narrowing guidance to the high side. Same situation, missed eps goals thanks to a sale of assets. It happens.

[This message has been edited by GarlandAg2012 (edited 8/14/2014 12:45p).]

E&P companies have taken a hit the last few weeks.

So where is the floor here?

No clue. But I'm back in....way too early though, but only 1/3 in so far.

I'm torn between exxi and hiit...in thinking about trying to hold out until after the dividend later this month for exxi.

Exxi is extremely levered... And trades at a big premium relative to historical Gulf of Mexico producers.

I would not be stepping in here.

CEO will be on Cramer tonight. I won't watch as I don't have cable anymore.

hiit upside > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > exxi

well I would guess so. It's a penny stock. There is also a lot more downside.

Being a small company doesn't mean there's a lot more downside

Upside in both is infinity. Downside in both is however much you risk. There. That settles that.

I wish E xxi was more diverse with their assets

We leased a huge block of acreage to them in Adams County Miss. for a horizontal test of a naturally fractured Chalk play. They drilled two wells, lost both holes without testing the prospect and quit. They are a real company and spent real dollars. I would do business with them again.

My E&P stock is Apache.

Still heading south, any body buying while it's down?

I still wouldn't step in. Crude has not found a bottom, 4q outlook for LLS pricing (exxi benchmark) is not going to be good as you get a glut of crude on the coast from refinery downtime, Permian pipes ramp up, and Gulf of Mexico projects come on line.

They need to actually deliver on what they say before the market begins giving them credit for it.

This is quickly turning into one of the worst stocks I've ever bought. Quickly approaching a 4% dividend though, although it'll likely be a 5% dividend very soon.

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This is quickly turning into one of the worst stocks I've ever bought.

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honesty! a nice refreshing change of pace from most people posting on this board.

yep, we've all had these kinds of picks.

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My E&P stock is Apache.

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If I bought E&P stocks, this would be my buy. They've been making too many moves lately to not have something intriguing.