Energy XXI provided an operations update, including production and recent exploration, development and acquisition activity.

Production Update

During the company's fiscal second quarter ended Dec. 31, 2013, production is estimated to have averaged 45,000 barrels of oil equivalent per day (BOE/d), with oil production exceeding 30,000 barrels per day (Bbl/d), up from 29,700 Bbl/d in the preceding quarter.

"We have continued to grow our oil production through the last three quarters with minimal development drilling," Energy XXI Chairman and Chief Executive Officer John Schiller said. "We increased activity in December by adding a rig at West Delta 30, where the successful Stricker exploration well will lead to a multiple-well development program. Additionally, we are currently moving a second rig into West Delta 73 to accelerate oil development in our highly successful horizontal drilling program."

Tags: Energy XXI