Energy XXI to Acquire EPL Oil & Gas
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Energy XXI (EXXI) to Acquire EPL Oil & Gas (EPL) in $2.3B Deal
March 12, 2014 6:33 AM EDTEnergy XXI (Nasdaq: EXXI) and EPL Oil & Gas, Inc. (NYSE: EPL) announced the signing of a definitive merger agreement pursuant to which Energy XXI will acquire all of EPL's outstanding shares for total consideration of $2.3 billion, including the assumption of debt. As a result of the merger, Energy XXI will become the largest public independent producer on the Gulf of Mexico shelf, with production of approximately 65,000 barrels of oil equivalent (BOE) per day, 70 percent oil, including a reduction related to the pending divestiture of non-operated interests in the Eugene... More
