Energy XXI (EXXI $22.99 -0.34) reported third quarter earnings of $0.46 per share, $0.02 worse than the Capital IQ Consensus Estimate of $0.48, while revenues fell 9.6% year/year to $303.8 million versus the $314.29 million consensus. Q3 Production: Averaged 43,500 barrels of oil equivalent per day net, compared with 45,300 BOE/d net in the 2012 fiscal third quarter Oil volumes for the 2013 fiscal third quarter averaged 28,600 barrels per day net. Current production has averaged 50,000 BOE/d net, including ~30,000 Bopd, since May 1, 2013. Capital Expenditures During the 2013 fiscal third quarter, capital expenditures, including plug-and-abandonment and excluding acquisition costs: Cap-ex totaled $191 million, with $61 million in exploration and $130 million in development and other costs. Capital expenditures for the full fiscal year ending June 30, 2013, excluding acquisitions, are expected to total between $780-810 million.
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