Energy XXI Gulf Coast Announces 2018 Capital Budget
ENERGY XXI GULF COAST (EXXI)
Last energy xxi gulf coast earnings: 11/14 06:00 am
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Source: GlobeNewswire
HOUSTON, Feb. 20, 2018 (GLOBE NEWSWIRE) -- Energy XXI Gulf Coast, Inc. (“EGC” or the “Company”) (NASDAQ:EXXI) today announced that its Board of Directors has approved a 2018 capital expenditure budget in the range of $145 million to $175 million, which includes funding of EGC’s most active drilling program since 2014, as well as recompletions, facilities improvements, plugging and abandonment (P&A) expenditures and other capital investments. Highlights include: Anticipates total 2018 capital expenditures between $145 million to $175 millionPlanned investment of $65 million to $75 million in drilling new wells and recompletions, $10 to $15 million in facilities improvements and $50 million to $60 million in P&A expendituresProgram anticipates drilling six wells focused in EGC’s core areas in West Delta and South TimbalierThree of the wells in the program are “proved undeveloped (PUD) reserve” locations; one well will be a water injector well; and two of the wells planned for the se
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