Moody's might lift Energy XXI

Moody's Investors Service said it placed Energy XXI Gulf Coast, Inc.'s corporate family rating, probability of default rating and senior note ratings on review for upgrade.

Moody's said that about 73% of Energy XXI's proved developed reserves are oil with short production profiles. This yields substantial cash flow for exploiting reserves they acquired in the ExxonMobil acquisition, the agency said.

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