Energy XXI, Apache venture to explore GoM shelf

Energy XXI has entered into an agreement with Apache Corp. to explore for oil and gas pay sands associated with salt dome structures on the central GoM shelf.

Offshore staff

HOUSTON– Energy XXI has entered into an agreement with Apache Corp. to explore for oil and gas pay sands associated with salt dome structures on the central GoM shelf. The area of mutual interest includes several salt domes within a 135-block area.

In addition, Energy XXI has acquired a 25% working interest in 21 non-producing primary-term leases with Apache. A new wide-azimuth seismic program is under way to define the potential of the AMI, covering approximately 633,000 acres.

John Schiller, Energy XXI chairman and CEO, said: “This joint venture exemplifies our interest in exploring salt structures where new seismic data, remapping, and remodeling could uncover significant hidden hydrocarbons.

“Our Pendragon exploration well, being drilled in the Vermilion area, is a similar analog. We are very excited about the potential of this new joint venture with Apache, a world-class operator with extensive expertise in the Gulf of Mexico.”

3/26/2013

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