Domestic oil and gas explorer Energy XXI Ltd. EXXIQ is expected to release its third-quarter 2016 results on Monday, Nov 14.
Factors to Consider This Quarter
As is the case with other oil and gas producers, Energy XXI’s revenues/earnings have borne the brunt of the freefall in realized prices over the past two and half years. However, the company has come up with certain initiatives to overcome the industry-wide slump.
With an aggressive cost reduction program, Energy XXI is looking to shore up its margins even in this weak oil and gas pricing environment. As part of this strategy, the company has embarked on a policy to minimize service and lease operating costs.
Importantly, even after pruning its cost structure, Energy XXI has been able to maintain stable production numbers. We expect the same for the to-be-reported-quarter as well.
Other Stocks to Report Near-Term
Apart from Energy XXI, here are some other firms from the energy space that are expected to come out with earnings in the next few days:
Africa Oil Corp. AOIFF, having a Zacks Rank #2 (Buy), is expected to release earnings results on Nov 21. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Gevo Inc. GEVO, with a Zacks Rank #2, is likely to release earnings on Nov 14.
Lonestar Resources US Inc. LONE, with a Zacks Rank #2, is likely to release earnings on Nov 18.
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