Vinson Reps Energy XXI In $1B Exxon Buy

Law360, New York (November 22, 2010, 3:20 PM EST) -- Exxon Mobil Corp. has inked an agreement to sell some of its shallow water Gulf of Mexico shelf oil and natural gas interests to Bermuda-based Energy XXI Ltd. for about $1 billion.

The properties involved in the deal, announced Sunday, include nine fields on the Gulf of Mexico shelf, all located between Energy XXI's two core South Timbalier and Main Pass operations. The assets are all located at water depths of 470 feet or less, and the six largest fields included in the transaction currently account...
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