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Energy XXI Ltd. Message Board

  • citiccgirl citiccgirl Aug 27, 2013 9:03 AM Flag

    EXXI Energy XXI: Solid value in the gulf - Canaccord Genuity

    EXXI

    EXXI Energy XXI: Solid value in the gulf - Canaccord Genuity

    Canaccord likes EXXI for its oil-weighted asset base, the emerging horizontal (Hz) drilling program in the Gulf of Mexico (GoM), a history of generating free cash, and potential upside from its exploration program. EXXI is highly focused on getting back to generating free cash flow in F2014, which it had consistently done until F2013. Firm is modeling over $50M of FCF this year and believe the co's stock buyback supports management's confidence in getting back to achieving positive cash generation. EXXI may also monetize some non-operated assets to enhance liquidity. Target $38

    From the Fly EXXI Energy XXI shares recommended at Canaccord
    Canaccord likes Energy XXI for its oil-weighted asset base, free cash generation, emerging horizontal drilling program in the Gulf of Mexico, and potential exploration program upside.
    Shares are Buy rated with a $38 price target.

    Sentiment: Strong Buy

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EXXI
6.71-0.39(-5.49%)Nov 25 4:00 PMEST

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