Past year: ▼ 98%(2.50c – 1.01 USD)
Each one in plain English, with the numbers worked through for a shareholder.
22 Feb 2012capital raising announcement▲ Good
Energy XXI exchanged 101,800 shares of its 5.625% preferred stock for about 1 million common shares plus accrued dividends and an inducement premium, continuing to whittle down its preferred stock balance.
15 Feb 2012capital raising announcement● Neutral
Energy XXI filed its Gulf Coast subsidiary's routine Q2 FY2012 financial statements required under its senior notes indentures.
14 Feb 2012substantial holder notice● Neutral
Mount Kellett Capital Management LP reported a Energy XXI Ltd shareholding of 5,923,158 shares (7.70% of votes) in a periodic institutional filing.
2 Feb 2012quarterly activities report● Neutral
Energy XXI Ltd reported a quarterly net income of $97.1 million for the period ended 2011-12-31.
2 Feb 2012quarterly activities report● Neutral
Energy XXI Ltd reported a quarterly net income of $97.1 million for the period ended 2011-12-31.
10 Jan 2012substantial holder notice● Neutral
BlackRock, Inc reported a Energy XXI Ltd shareholding of 7,863,070 shares (10.28% of votes) in a periodic institutional filing.
16 Nov 2011capital raising announcement● Neutral
Energy XXI filed its Gulf Coast subsidiary's routine Q1 FY2012 financial statements required under its senior notes indentures.
2 Nov 2011quarterly activities report● Neutral
Energy XXI Ltd reported a quarterly net income of $66.3 million for the period ended 2011-09-30.
26 Oct 2011quarterly activities report● Neutral
Energy XXI Ltd reported a quarterly net income of $66.3 million for the period ended 2011-09-30.
4 Oct 2011debt financing● NeutralMajor
Energy XXI loosened several credit-agreement terms: easier dividend/distribution rules, letting its own petroleum engineers (rather than an independent firm) prepare the annual reserve report subject only to third-party audit, and removing the minimum commodity-hedging requirement on proved developed producing reserves - trading some conservatism for flexibility just as the company's asset base (and storm exposure) was growing, with the required hurricane-season cash reserve doubled to $50 million in acknowledgment of that risk.
1 Sept 2011capital raising announcement● Neutral
Energy XXI filed its Gulf Coast subsidiary's routine FY2011 annual financial statements required under its senior notes indenture.
11 Aug 2011quarterly activities report● Neutral
Energy XXI Ltd reported a quarterly net income of $35.2 million for the period ended 2011-06-30.
19 May 2011capital raising announcement▲ Good
Energy XXI continued converting preferred stock into common, exchanging 20,000 shares of 5.625% preferred and 88,500 shares of 7.25% preferred for a combined roughly 1.04 million common shares.
6 May 2011debt financing▲ GoodMajor
Energy XXI refreshed its whole credit facility with a Second Amended and Restated First Lien Credit Agreement: the borrowing base rose to $750 million, interest margins dropped, and all references to the 16% second-lien debt were deleted because it had been fully retired - confirming the crisis-era high-cost debt was gone. The new agreement also raised the cap on dividend payments up to the parent (for preferred stock payments) to $17 million a year and let the company pay up to $50 million annually to a new Bermuda-based captive insurer.
2 May 2011capital raising announcement● Neutral
Energy XXI filed its Gulf Coast subsidiary's routine Q3 FY2011 financial statements required under its senior notes indenture.
28 Apr 2011quarterly activities report● Neutral
Energy XXI Ltd reported a quarterly net income of $18.4 million for the period ended 2011-03-31.
28 Apr 2011quarterly activities report● Neutral
Energy XXI Ltd reported a quarterly net income of $18.4 million for the period ended 2011-03-31.
28 Feb 2011debt financing▲ GoodMajor
Energy XXI Gulf Coast formally issued the $250 million of 7.75% senior unsecured notes due 2019 under a new indenture, completing that refinancing round.
15 Feb 2011substantial holder notice● Neutral
Mount Kellett Capital Management LP reported a Energy XXI Ltd shareholding of 5,849,226 shares (8.40% of votes) in a periodic institutional filing.
14 Feb 2011substantial holder notice● Neutral
Mount Kellett Capital Management LP disclosed a new substantial Energy XXI Ltd shareholding (7.30% of votes).
11 Feb 2011debt financing▲ GoodMajor
Energy XXI Gulf Coast raised another $250 million, this time at a lower 7.75% rate via senior unsecured notes due 2019, to repay revolver debt and buy back its remaining 10% Senior Notes due 2013 - continuing to refinance its capital structure at progressively cheaper rates as credit markets improved.
9 Feb 2011capital raising announcement● Neutral
Energy XXI filed its Gulf Coast subsidiary's routine Q2 FY2011 financial statements required under its senior notes indenture.
4 Feb 2011quarterly activities report● Neutral
Energy XXI Ltd reported a quarterly net income of $10.9 million for the period ended 2010-12-31.
4 Feb 2011quarterly activities report● Neutral
Energy XXI Ltd reported a quarterly net income of $10.9 million for the period ended 2010-12-31.
10 Jan 2011substantial holder notice● Neutral
BlackRock, Inc reported a Energy XXI Ltd shareholding of 7,621,729 shares (10.27% of votes) in a periodic institutional filing.
22 Dec 2010asset acquisition disposition▲ GoodMajor
The Exxon acquisition closed on December 17, 2010 for $1.012 billion, adding about 20,000 boe/day of production (53% oil), roughly 66 million barrels of proved and probable reserves, and 130,853 net offshore acres - a transformational addition to Energy XXI's Gulf of Mexico shelf position.
22 Dec 2010debt financing▲ GoodMajor
Energy XXI Gulf Coast formally issued the $750 million of 9.25% senior unsecured notes due 2017 under a new indenture, completing the bond financing behind the Exxon acquisition.
6 Dec 2010debt financing▲ GoodMajor
Energy XXI Gulf Coast priced $750 million of new 9.25% senior unsecured notes due 2017 to help fund the Exxon acquisition and pay down revolver borrowings.
2 Dec 2010debt financing▲ Good
Lenders granted another interim covenant waiver clearing the way for Energy XXI Gulf Coast to raise new unsecured debt to help fund the pending Exxon acquisition and refinance its 16% and 10% notes.
23 Nov 2010debt financing▲ GoodMajor
To finance the Exxon acquisition, Energy XXI's lenders agreed to massively expand its credit facility - revolving commitments to $925 million, borrowing base to $700 million, letter-of-credit capacity to $300 million, maturity extended four years - and to permit up to $1 billion of additional unsecured debt to fund the deal and retire the remaining 16% and 10% notes, contingent on the Exxon deal closing.
