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Energy XXI Gulf Coast Inc (EGC.OQ)

EGC.OQ on NASDAQ Stock Exchange Global Select Market

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16 Oct 2018
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Latest Key Developments (Source: Significant Developments)

Energy XXI Gulf Coast Says Orinoco Natural Resources Filed Complaint Against Co
Tuesday, 21 Aug 2018 

Aug 21 (Reuters) - Energy XXI Gulf Coast Inc ::ENERGY XXI GULF COAST SAYS ON AUG. 20 LEARNED ORINOCO NATURAL RESOURCES FILED COMPLAINT AGAINST CO IN SUPERIOR COURT OF STATE OF DELAWARE- SEC FILING.ENERGY XXI GULF COAST SAYS BELIEVES ONR COMPLAINT IS "WITHOUT MERIT".  Full Article

Energy Xxi Gulf Coast Q2 Loss Per Share $1.02
Thursday, 9 Aug 2018 

Aug 9 (Reuters) - Energy XXI Gulf Coast Inc ::ENERGY XXI GULF COAST ANNOUNCES SECOND QUARTER 2018 FINANCIAL AND OPERATIONAL RESULTS.Q2 LOSS PER SHARE $1.02.QTRLY TOTAL REVENUES $116.7 MILLION VERSUS $144.0 MILLION.IN Q2 OF 2018, COMPANY PRODUCED AND SOLD APPROXIMATELY 25,300 NET BOE PER DAY.QTRLY TOTAL SALES VOLUME PER DAY IN QUARTER 25.3 MBOE VERSUS 35.9 MBOE.  Full Article

Energy Xxi Gulf Coast Provides Comments On U.S. SEC Announcement
Monday, 16 Jul 2018 

July 16 (Reuters) - Energy XXI Gulf Coast Inc ::ENERGY XXI GULF COAST - PROVIDES COMMENTS ON U.S. SEC ANNOUNCEMENT REGARDING CHARGES AGAINST FORMER CEO, BOARD MEMBER OF PREDECESSOR CO ENERGY XXI LTD.ENERGY XXI GULF COAST - ACTIVITIES BY INDIVIDUALS NOTED IN RELEASE THAT ARE SUBJECT OF SEC'S ACTIONS OCCURRED PRIOR TO EXXI LTD'S APRIL 2016 BANKRUPTCY FILING.ENERGY XXI GULF COAST - "DOES NOT EXPECT THE ACTIONS TAKEN BY THE SEC TODAY TO HAVE ANY IMPACT" ON PENDING TRANSACTION WITH COX OIL LLC & ITS AFFILIATES.  Full Article

Energy XXI Gulf Coast To Be Acquired By An Affiliate Of Cox Oil For About $322 Mln
Monday, 18 Jun 2018 

June 18 (Reuters) - Energy XXI Gulf Coast Inc ::ENERGY XXI GULF COAST ANNOUNCES DEFINITIVE AGREEMENT TO BE ACQUIRED BY AN AFFILIATE OF COX OIL FOR APPROXIMATELY $322 MILLION, OR $9.10 PER FULLY DILUTED SHARE.ENERGY XXI GULF COAST INC - DEAL FOR TOTAL CONSIDERATION OF APPROXIMATELY $322 MILLION.ENERGY XXI GULF COAST INC - COX WILL ACQUIRE ALL OUTSTANDING SHARES OF EGC COMMON STOCK FOR $9.10 PER FULLY DILUTED SHARE IN CASH.ENERGY XXI GULF COAST INC - EGC'S BOARD UNANIMOUSLY APPROVED PROPOSED TRANSACTION WITH COX.ENERGY XXI GULF COAST INC - THERE IS NO FINANCING CONTINGENCY TO COMPLETE TRANSACTION.  Full Article

Energy XXI Gulf Coast Reports Q1 Loss Per Share Of $0.99 Including Items
Thursday, 10 May 2018 

May 10 (Reuters) - Energy XXI Gulf Coast Inc ::ENERGY XXI GULF COAST ANNOUNCES FIRST QUARTER 2018 FINANCIAL AND OPERATIONAL RESULTS.Q1 LOSS PER SHARE $0.99 INCLUDING ITEMS.ESTIMATED Q2 PRODUCTION TO AVERAGE 24,500 TO 26,000 BARRELS OF OIL PER DAY.PRODUCED AVERAGE OF APPROXIMATELY 26,600 BARRELS OF OIL EQUIVALENT PER DAY IN QUARTER, OF WHICH 79% WAS OIL.CAPITAL EXPENDITURES FOR Q2 ARE EXPECTED TO BE IN RANGE OF $50 MILLION TO $60 MILLION.CAPITAL EXPENDITURES FOR 2018 REMAIN WITHIN EXPECTED RANGE OF $145 MILLION TO $175 MILLION.QTRLY TOTAL REVENUE $122.2 MILLION VERSUS $158.1 MILLION.ENERGY XXI GULF COAST - IN Q1 & INTO MAY, FACED INCREASED DOWNTIME ASSOCIATED WITH TEMPORARY SHUT-INS DUE TO FACILITY IMPROVEMENTS, PIPELINE PROBLEMS.APRIL PRODUCTION WAS REDUCED BY ABOUT 4,800 BOE PER DAY FROM SHUT-INS.CURRENT DAILY PRODUCTION IS AVERAGING ABOUT 27,000 BOE PER DAY.  Full Article

Energy XXI Gulf Coast Announces Proposed Strategic Disposition Of Non-Core Assets And Related Asset Retirement Obligations To Orinoco Natural Resources
Thursday, 10 May 2018 

May 10 (Reuters) - Energy XXI Gulf Coast Inc ::ENERGY XXI GULF COAST ANNOUNCES PROPOSED STRATEGIC DISPOSITION OF NON-CORE ASSETS AND RELATED ASSET RETIREMENT OBLIGATIONS TO ORINOCO NATURAL RESOURCES.ENERGY XXI GULF COAST INC - DEAL ELIMINATES APPROXIMATELY $320 MILLION OF UNDISCOUNTED P&A LIABILITY.ENERGY XXI GULF COAST INC - ONR WOULD RECEIVE A 35% EQUITY OWNERSHIP POSITION IN EGC, PRO FORMA FOR DEAL.ENERGY XXI GULF COAST INC - EGC WOULD ISSUE TO OEF $100 MILLION, TEN-YEAR, SECOND LIEN NOTE AMORTIZED RATABLY BEGINNING 2019, WITH 9% ANNUAL INTEREST.ENERGY XXI GULF COAST INC - EGC WOULD PAY OEF UPFRONT CASH TOTALING $12.5 MILLION AT CLOSING, ADDITIONAL $12.5 MILLION SIX MONTHS FOLLOWING DEAL CLOSING.  Full Article

Energy Xxi Gulf Coast Announces 2018 Capital Budget
Tuesday, 20 Feb 2018 

Feb 20 (Reuters) - Energy Xxi Gulf Coast Inc ::ENERGY XXI GULF COAST ANNOUNCES 2018 CAPITAL BUDGET.ENERGY XXI GULF COAST INC - BOARD OF DIRECTORS HAS APPROVED A 2018 CAPITAL EXPENDITURE BUDGET IN RANGE OF $145 MILLION TO $175 MILLION.  Full Article

Hotchkis & Wiley Capital Management Reports 10.49 Pct Passive Stake In Energy XXI Gulf Coast
Wednesday, 10 Jan 2018 

Jan 10 (Reuters) - Energy Xxi Gulf Coast Inc ::HOTCHKIS & WILEY CAPITAL MANAGEMENT LLC REPORTS 10.49 PERCENT PASSIVE STAKE IN ENERGY XXI GULF COAST AS ON DEC 31, 2017 - SEC FILING.  Full Article

Energy XXI Gulf Coast sees Q4 production of 26,000 boepd to 30,000 boepd
Tuesday, 14 Nov 2017 

Nov 14 (Reuters) - Energy Xxi Gulf Coast Inc :Energy XXI Gulf Coast Inc sees Q4 production of 26,000 boepd to 30,000 boepd - presentation slides‍​.Energy XXI Gulf Coast Inc - estimated capital budget for 2017 is $115 million to $130 million.  Full Article

Energy XXI Gulf Coast says Q3 loss per share $0.95
Tuesday, 14 Nov 2017 

Nov 14 (Reuters) - Energy XXI Gulf Coast Inc -:Energy XXI Gulf Coast Inc announces third quarter 2017 financial and operational results.Q3 loss per share $0.95.Q3 revenue $117 million.Energy XXI Gulf Coast Inc - ‍produced an average of approximately 32,600 barrels of oil equivalent ("BOE") per day, of which 77% was oil in quarter​.Energy XXI Gulf Coast Inc - ‍during quarter co had to evacuate personnel and shut-in production several times due to multiple storms in Gulf of Mexico​.Energy XXI Gulf Coast Inc - ‍tropical weather reduced production an average of approximately 1,200 BOE per day during Q3​.Energy XXI Gulf Coast Inc - ‍during 3 months ended September 30, 2017, company incurred capital costs, including abandonment activities, totaling $36.5 million​.Energy XXI Gulf Coast Inc - been working with financial advisor on long-term strategic plan for past 6 months that focused on Gulf Of Mexico consolidation talks.Energy XXI Gulf Coast Inc - ‍since no executable combination resulted from Gulf Of Mexico consolidation talks, now focused on stand-alone options.Energy XXI Gulf Coast Inc says stand-alone options being focussed on include a drilling program beginning in early 2018.  Full Article

UPDATE 1-Former Energy XXI CEO agrees to settle SEC charges

WASHINGTON, July 16 The former chief executive of Energy XXI Ltd agreed to settle civil charges that he failed to disclose to investors more than $10 million in personal loans obtained from company vendors and a candidate for the company's board, the U.S. Securities and Exchange Commission said.