December 28, 2014 3:53 PM ET

Oil, Gas and Consumable Fuels

Company Overview of Energy XXI Gulf Coast, Inc.

Company Overview

Energy XXI Gulf Coast, Inc. acquires, explores, develops, and operates oil and natural gas properties onshore in Louisiana and Texas, and offshore in the Gulf of Mexico. The company was incorporated in 2006 and is based in Houston, Texas. Energy XXI Gulf Coast, Inc. operates as a subsidiary of Energy XXI (Bermuda) Limited.

1021 Main Street

Suite 2626

Houston, TX 77002

United States

Founded in 2006

Phone:

713-351-3000

Fax:

713-351-3300

Key Executives for Energy XXI Gulf Coast, Inc.

President
Age: 67
Chief Financial Officer
Age: 61
Compensation as of Fiscal Year 2014.

Energy XXI Gulf Coast, Inc. Key Developments

Energy XXI Gulf Coast, Inc. Closes Private Placement of $650 Million, 6.875% Senior Unsecured Notes Due 2024

On May 27, 2014, Energy XXI Gulf Coast, Inc. closed its private placement of $650 million in aggregate principal amount of the Company's 6.875% senior unsecured notes due 2024 pursuant to the Purchase Agreement by and among the Company, Energy XXI (Bermuda) Limited and the Company's wholly-owned subsidiaries and Credit Suisse Securities (USA) LLC and Citigroup Global Markets Inc., as representatives of the initial purchasers named therein, relating to the issuance and sale of $650,000,000 in aggregate principal amount of the Company's 6.875% senior unsecured notes due 2024. The Notes have a yield to maturity of 6.875%. The Notes were offered and sold in a transaction exempt from the registration requirements of the Securities Act of 1933, as amended. The Notes were resold to qualified institutional buyers in reliance on Rule 144A of the Securities Act and to certain non-U.S. persons in reliance on Regulation S under the Securities Act. The Notes will mature on March 15, 2024, and interest is payable on the Notes on March 15 and September 15 of each year, commencing September 15, 2014. The Company has the option to redeem all or a portion of the Notes at any time on or after March 15, 2019 at the redemption prices specified in the Indenture plus accrued and unpaid interest. The Company may also redeem the Notes, in whole or in part, at a "make-whole" redemption price specified in the Indenture, plus accrued and unpaid interest, at any time prior to March 15, 2019. In addition, the Company may redeem up to 35% of the Notes prior to March 15, 2017 under certain circumstances with the net cash proceeds from certain equity offerings.

Energy XXI Gulf Coast, Inc. Completes 7.50% Senior Notes Exchange Offer

Energy XXI Gulf Coast, Inc. announced that it has completed the exchange offer relating to its 7.50% Senior Notes due 2021. The Company's offer to exchange up to $500,000,000 aggregate principal amount of the Notes that were not registered under the Securities Act of 1933, as amended, for an equal principal amount of the Notes that have been registered under the Securities Act, expired at 5:00 p.m., New York City time, on May 23, 2014. The Company received and accepted tenders of 100% of the Notes that were outstanding.

Energy XXI Gulf Coast, Inc. Announces Pricing of $650 Million Upsized Offering of Senior Notes

Energy XXI Gulf Coast, Inc. announced the pricing of its private placement of $650 million of 6.875% senior unsecured notes due 2024. The offering size was increased to $650 million from $300 million. The 2024 Notes were sold at 100% of par to yield 6.875% to maturity. The offering is expected to close on May 27, 2014, subject to customary closing conditions. The company intends to use a portion of the net proceeds to repay all indebtedness outstanding under its revolving credit facility and the remainder to fund a portion of the cash consideration for Energy XXI's pending acquisition of EPL Oil & Gas, Inc. (the "EPL Acquisition"). If the EPL Acquisition is not consummated, the company intends to use all of the remaining net proceeds for general corporate purposes. The consummation of the Offering is not conditioned on the closing of the EPL Acquisition. The 2024 Notes have not been registered under the Securities Act of 1933, as amended (the "Securities Act"), or any state securities laws; and unless so registered, may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws.

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