Energy XXI updates information on Hurricane Harvey impact
Energy XXI provided an additional update on the impact from Hurricane Harvey. The company was able to conduct flyover visual inspections of its facilities, and no significant damage was apparent. Production was initially shut-in in advance of the storm beginning on August 25. As a result of these additional shut-ins, shut-in volumes peaked briefly at about 7,000 net BOE per day, but production has already begun to be restored. Currently approximately 4,500 BOE net daily production is curtailed due to the storm, or about 13% of Q2 total net average daily production. Production is expected to be restored to company-operated facilities that were shut-in from Hurricane Harvey over the next two weeks once EGC's management determines these facilities are safe and fully operational and that the pipelines, shore-based facilities and refineries have become fully operational.