Energy XXI high bidder on five GoM blocks

Energy XXI is the apparent high bidder on all five blocks the company sought in the OCS Lease Sale 206 conducted by the MMS.

Offshore staff

HOUSTON -- Energy XXI is the apparent high bidder on all five blocks the company sought in the OCS Lease Sale 206 conducted by the MMS.

Energy XXI bid a total of $1.9 million for 100% working interests in five blocks offshore Louisiana, in close proximity to the company's South Pass 49 field. The subject blocks are South Pass 34, South Pass 50, South Pass 51, Mississippi Canyon 63, and Mississippi Canyon 107.

"We are pleased with our apparent success at today's lease sale," says Steve Weyel, Energy XXI president and COO. "This is an area where we see significant potential to extend the success of our existing producing fields through exploration and development activity."

03/20/2008

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