Wednesday, May 21, 2014
Here's Why Energy XXI Ltd Has a Lot More Value
Energy XXI Ltd (NASDAQ: EXXI ) provides a prime example of how the market doesn't like a company in transition or involved in a high-premium merger. Even with the backdrop of a strong market for energy exploration and production stocks, Energy XXI trades at multi-year lows.
The upcoming merger with EPL Oil & Gas (NYSE: EPL ) provides the opportunity to exploit several large offshore fields while taking advantage of the seismic capabilities of that company.
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