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September 02, 2015 8:58 PM ET

Oil, Gas and Consumable Fuels

Company Overview of Energy XXI Gulf Coast, Inc.

Company Overview

Energy XXI Gulf Coast, Inc., through its subsidiaries, 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 Ltd.

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.

Chief Financial Officer
Age: 62
Compensation as of Fiscal Year 2015.

Energy XXI Gulf Coast, Inc. Key Developments

Energy Xxi Gulf Coast Prices Higher Private Offering of USD 1.45 Billion 11.000% Senior Secured Second Lien Notes Due 2020

Energy XXI Gulf Coast announced that it has priced its private offering of USD 1.45 billion principal amount of 11.000% senior secured second lien notes due 2020. The offering size was reportedly raised by the company from the prior offering of USD 1.25 billion. Net proceeds may be used by the company to repay borrowings under its revolving credit facility, general corporate purposes as well as funding a portion of its capital expenditure programme for fiscal year 2015. This offering is expected to close on 12 March 2015, subject to satisfaction of customary closing conditions.

Energy XXI Gulf Coast, Inc. Announces Private Offering of $1.25 Billion of Senior Secured Second Lien Notes Due 2020

Energy XXI Gulf Coast, Inc. announced that it has commenced a private offering to qualified institutional buyers of $1.25 billion principal amount of senior secured second lien notes due 2020, subject to market and other conditions. The company intends to use a portion of the net proceeds from this offering to repay borrowings under its revolving credit facility, including $325 million of the amount outstanding under the tranche of its revolving credit facility allocated for its indirect, wholly-owned subsidiary, EPL Oil & Gas, Inc., and the remainder for general corporate purposes including funding a portion of its capital expenditure program for fiscal year 2015.

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.

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Recent Private Companies Transactions

Type
Date
Target
Private Placement
March 12, 2015
EPL Oil & Gas, Inc.
 

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