Energy XXI Ltd. buy DomRuinart
Zusammenfassung
Diese Einschätzung wurde am 08.03.16 mit einem Endkurs von 1,24 € beendet. Mit einer Rendite von -21,59 % entwickelte sich die Einschätzung BUY nicht nach Plan. DomRuinart hat 50% Zuversicht bei dieser EinschätzungRendite ohne Dividenden (%)
| Name | 1W | 1M | 1J | 3J |
|---|---|---|---|---|
| Energy XXI Ltd. | - | - | - | - |
| iShares Core DAX® | 0,44 % | 0,77 % | 16,33 % | 15,98 % |
| iShares Nasdaq 100 | -0,15 % | 4,09 % | 36,05 % | 50,71 % |
| iShares Nikkei 225® | 2,57 % | 4,20 % | 15,03 % | 10,59 % |
| iShares S&P 500 | 0,48 % | 2,88 % | 29,11 % | 45,05 % |
Kommentare von DomRuinart zu dieser Einschätzung
In der Diskussion Energy XXI Ltd. diskutieren
Chapter 11 ante portas?
Kursverlaufund News coverage scheinen sich ja einig zu sein, dass der Laden noch im Oktoberbankrottgeht. Ich denke jedoch, dass esnicht so kommen wird. Die restrukturieren Ihre Schulden jetzt ähnlich wie es Arch Coalgemacht hat, und werden evtl. schon dieseWoche bei der Barclays CEO Energy/Power Conference 2015 oder aber wenn sie IhreEarnings bekannt geben dazu Stellung nehmen. Könnte mir danach einen nettenKurssprung vorstellen. Langfristig dann auf jeden Fall ein guter Hebel zusteigenden Öl-Preisen. Bei den Assetsdie die im Golf von Mexiko halten sind die auf momentanen Kursniveau jedenfallseinen kleinen Zock wert.
Energy XXI Reports Restatement of Prior PeriodFinancials Due to Change in Derivative Accounting Method
Non-Cash Restatement With no Impact to Cash/Liquidity
September 08, 2015 07:00 ET | Source: Energy XXI
HOUSTON, Sept. 8, 2015 (GLOBE NEWSWIRE) -- Energy XXILtd (NASDAQ:EXXI) (the "Company") today announced that it willrestate its financial statements to correct its method of accounting for crudeoil and natural gas hedging to reflect unrealized hedging gains and losses inthe Company's consolidated statements of operations as a component of earningsrather than on its consolidated balance sheets.
Historically, under the cash flow hedge accounting,the Company recorded the unrealized gains and losses on its derivativecontracts, net of the related tax impact, in accumulated other comprehensiveincome or loss as part of the consolidated balance sheet, until the productionmonth when the associated hedge contracts were settled at which time gains orlosses associated with the settled contracts were reclassified to revenues.
During the preparation of its annual report on Form10-K for the year ended June 30, 2015 (the "2015 Form 10-K"), theCompany recently determined that certain oil and gas hedges did not qualify forcash flow hedge accounting treatment at their date of designation. The primaryreason for this derivative accounting change was that the formal hedgedocumentation lacked specificity of the hedged items and, therefore, thedesignations failed to meet the very complex technical documentationrequirements for cash flow hedge accounting treatment.
The Company will restate its previously issuedconsolidated financial statements for the years ended June 30, 2014, 2013, 2012and 2011 and for the quarters ended September 30, 2014 and 2013, December 31,2014 and 2013, March 31, 2015 and 2014 and June 30, 2014. The Company filed areport on Form 8-K providing further details regarding the expected impact ofthese non-cash adjustments on its financial statements for each restatedperiod. This restatement primarily reflects the unrealized recognition of gainsand losses on derivative financial instruments described above. However, therestatement also reflects resulting adjustments to net oil and natural gasproperties, impairment of oil and natural gas properties and depreciation,depletion and amortization due to the previous inclusion of the value of thecash flow hedges in the Company's full cost ceiling test, which is onlypermitted if the derivative instruments qualify for cash flow hedge accounting;and adjustments to deferred income taxes and income tax expense (benefit).While these non-cash adjustments impact revenues, net income (loss) and netincome (loss) per common share for each period, as well as total stockholders'equity, these adjustments do not impact the economics of the hedge transactionsor net cash flows from operating, investing or financing activities, nor dothey affect the Company's liquidity or adjusted earnings before interest,taxes, depreciation, and amortization ("EBITDA") for each suchperiod.
2015 Form 10-K, Earnings Release for Fiscal 2015Fourth-Quarter and Year-End 2015 and Related Conference Call
In order to complete the restatements and relatedreview by the Company's independent registered public accounting firms, theCompany will file a Notification of Late Filing on Form 12b-25 in order toobtain an additional fifteen calendar days to file the 2015 Form 10-K. The Company also announced that it plans topostpone the distribution of its 2015 fourth quarter and 2015 fiscal year earningsrelease and related conference call, previously scheduled for Monday, September14, 2015. The Company will provide a public update on the timing of the call assoon as practicable.
About the Company
Energy XXI is an independent oil and natural gascompany whose growth strategy emphasizes acquisitions, enhanced by itsvalue-added organic drilling program. The company's properties are located inthe U.S. Gulf of Mexico waters and the Gulf Coast onshore.
Quelle: GlobeNewswire, Inc.