Energy XXI Gulf Coast Announces Third Quarter 2017 Financial and Operational Results
ENERGY XXI GULF COAST (EXXI)
Last energy xxi gulf coast earnings: 11/14 06:00 am
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US:NASDAQ Investor Relations:
ir.energyxxi.com
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Source: GlobeNewswire
HOUSTON, Nov. 14, 2017 (GLOBE NEWSWIRE) -- Energy XXI Gulf Coast, Inc. (“EGC” or the “Company”) (NASDAQ:EXXI) today reported financial and operational results for the third quarter of 2017. Third Quarter 2017 Highlights and Recent Key Items: Produced an average of approximately 32,600 barrels of oil equivalent (“BOE”) per day, of which 77% was oil; tropical weather reduced production an average of approximately 1,200 BOE per day during the third quarterCompleted the West Delta 30 High Tide well and initiated production in September; currently producing 650 BOE per dayReduced total lease operating expense (“LOE”) by 9% quarter-over-quarterLowered general and administrative costs (“G&A”) by 27% quarter-over-quarter Incurred a net loss of $31.6 million which included a loss on financial derivatives of $12.5 million ($14.4 million unrealized loss offset by $1.9 million realized gain)Generated Adjusted EBITDA of $35.3 million, up 45% from $24.4 million in the prior quarterBenefited fro
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