Production
During the year ended June 30, 2008 Energy XXI produced 9.6 million barrels of oil equivalent or 26,301boepd.
During the year ended June 30, 2007 Energy XXI produced 5.9 million barrels of oil equivalent or 16,164 boepd.
Reserves
Proved reserves at June 30, 2008 totaled 51.5 million BOE, compared with 55.6 million BOE booked at June 30, 2007. During fiscal year 2008, Energy XXI added 3.8 million BOE of proved reserves through discoveries and extensions of existing fields and 1.7 million BOE through acquisitions, while producing 9.6 million BOE.
Proved reserves at June 30, 2007 totaled 55.6 million BOE, up 126 percent from the 24.6 million BOE booked at June 30, 2006. During fiscal year 2007, Energy XXI added 29.7 million BOE of proved reserves through acquisitions and 10.9 million BOE through the drilling program, while producing 5.9 million BOE. Revisions reduced proved reserves by 3.2 million BOE, while property sales cut 0.4 million BOE. Year-end proved reserves were weighted toward liquids (crude oil, condensate and natural gas liquids) at 54 percent, or 30.3 million barrels, with natural gas representing 46 percent, or 151.8 billion cubic feet. The company's reserves are fully determined by independent reservoir engineering firms.