Energy XXI Gulf Coast today reported financial and operational results for the second quarter of 2017. Second Quarter 2017 Highlights and Recent Key Items: Grew current cash and cash equivalents to $179 million. roduced an average of approximately 36,000 barrels of oil equivalent per day, of which 75% was oil. Reduced total headcount in the second [...]
Energy XXI announced today that it and certain of its subsidiaries have entered into a Restructuring Support Agreement with holders of more than 63% of the Company’s secured second lien 11.0% notes on the material terms of a balance sheet restructuring plan that will strengthen the Company’s financial position by reducing long-term debt and [...]
Energy XXI today announced that it has made the interest payment due on its EPL Oil and Gas, Inc. 8.25% Senior Notes. This follows the Company’s decision to defer this interest payment originally due on February 16, 2016, commencing a 30-day grace period. As previously announced, the Company continues to work with its financial and legal advisors [...]
Energy XXI today announced that on February 24, 2016, the company received a letter from the Listing Qualifications Department of the NASDAQ Stock Market LLC notifying the company that, based upon the closing bid price of its common stock for the last 30 consecutive business days, the common stock did not meet the minimum bid price of $1.00 per [...]
Energy XXI today announced that, given the current commodity price environment and the need to preserve liquidity, it has suspended the quarterly dividends on its 5.625% convertible perpetual preferred stock (5.625% preferred stock) and its 7.25% convertible perpetual preferred stock (7.25% preferred stock) for the quarter ending March 31, 2016. As [...]
Energy XXI today announced that Andrew Coleman, Vice President of Business Development, will take on the additional responsibility of managing the Company’s investor relations department on an interim basis, reporting to Chief Financial Officer Bruce Busmire. Greg Smith, formerly Vice President of Investor Relations, has resigned to pursue other [...]
Energy XXI today announced that its Board of Directors has adopted a Net Operating Loss Shareholder Rights Agreement designed to preserve substantial tax assets of its U.S. subsidiaries. As of June 30, 2015, Energy XXI had U.S. federal tax net operating loss carryforwards of approximately $1.1 billion, which can be utilized in certain circumstances [...]
Energy XXI today announced financial and operating results for the three months ended December 31, 2015 (fiscal 2016 second quarter), and provided an operations update. Highlights include: Lease Operating Expenses decreased 26 percent year-over-year
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