Energy XXI Shares Surge 16%

Energy XXI (Bermuda) (EXXI) shares are higher nearly 16% on Tuesday after the oil and natural gas company filed a registration with the Securities and Exchange Commission for the sale of stocks, debt securities, warrants and other securities worth up to $500 million.

The company said it plans to use proceeds for general corporate purposes, which may include repayment of indebtedness, the financing of capital expenditures, future acquisitions and additions to its working capital.

EXXI is trading near the bottom of its 52-week range between $0.90 and $11.06.

Companies: Energy XXI (Bermuda) Limited
Price: 1.67 Price Change: +0.22 Percent Change: +15.17