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Energy XXI to buy EPL Oil & Gas for $2.3 bln
March 12, 2014 / 10:41 AM / 4 years ago

Energy XXI to buy EPL Oil & Gas for $2.3 bln

March 12 (Reuters) - Energy XXI Ltd said it would buy smaller rival EPL Oil & Gas Inc for $2.3 billion, including debt, to become the largest oil and gas producer on the U.S. Gulf of Mexico shelf.

After the acquisition, Energy XXI will have output of about 65,000 barrels of oil equivalent per day, 70 percent of which will be oil, the company said.

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