29 June 2017listing compliance notice▼ BadMajor
Energy XXI Ltd terminated the registration of a class of securities, ending its reporting obligation for them.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
30 Dec 2016listing compliance notice▼ BadMajor
Energy XXI Ltd terminated the registration of a class of securities, ending its reporting obligation for them.
29 Dec 2016director interest notice● Neutral
Energy XXI Ltd director Hill A Feinberg sold 189,751 shares at $0.03.
29 Dec 2016director interest notice● Neutral
Energy XXI Ltd Chief Financial Officer Bruce W Busmire sold 96,325 shares.
29 Dec 2016director interest notice● Neutral
Energy XXI Ltd director Scott A Griffiths sold 58,178 shares at $0.04.
29 Dec 2016director interest notice● Neutral
Energy XXI Ltd director James Lachance sold 22,098 shares.
22 Dec 2016director interest notice● Neutral
Energy XXI Ltd director II Cornelius Dupre sold 180,636 shares at $0.05.
21 Dec 2016director interest notice● Neutral
Energy XXI Ltd President and CEO John D Schiller Jr. sold 991,475 shares.
15 Dec 2016debt financing▼ BadMajor
The Bankruptcy Court confirmed Energy XXI's Chapter 11 plan on December 13, 2016, targeting an effective date by year-end. Under the plan, reorganized Energy XXI Gulf Coast becomes the new parent holding substantially all of the group's assets, revolving-credit claims convert into a new three-year exit facility, and Energy XXI Ltd's existing common and preferred equity is wiped out entirely - marking the effective end of the Bermuda parent entity that had built the company from a single Gulf of Mexico shelf operator into a $3.6 billion-debt, multi-billion-dollar producer over eight years, undone by the leverage taken on for the 2014 EPL acquisition just before oil prices collapsed.
15 Nov 2016director interest notice● Neutral
Energy XXI Ltd Chief Operating Officer Pinho Antonio De exercised stock options for 125,000 shares and disposed of 250,000 shares.
14 Nov 2016quarterly activities report▼ Bad
Energy XXI Ltd reported a quarterly net loss of $131.1 million for the period ended 2016-09-30.
9 Nov 2016late filing notice▼ Bad
Energy XXI Ltd notified the SEC that its quarterly report would be filed late.
21 Oct 2016director interest notice● Neutral
Energy XXI Ltd Chief Financial Officer Bruce W Busmire exercised stock options for 100,000 shares and disposed of 200,000 shares.
13 Sept 2016debt financing▼ BadMajor
Energy XXI and its second lien noteholders finalized the recovery terms of the reorganization plan: unsecured trade and general claims got modestly better payouts, and the equity split in the reorganized company was set at 87.8% for second lien noteholders, small slices for unsecured noteholders, and 11.6% reserved for a creditor trust - with existing common and preferred stock still receiving nothing.
13 Sept 2016late filing notice▼ Bad
Energy XXI Ltd notified the SEC that its annual report would be filed late.
23 Aug 2016debt financing● Neutral
A Fourth RSA Amendment pushed back only the milestone for court approval of the restructuring agreement itself, to September 30, 2016.
1 Aug 2016debt financing● Neutral
Energy XXI's bankruptcy milestones slipped again under a Third RSA Amendment, pushing the confirmation hearing to mid-September and targeting plan effectiveness by October 7, 2016.
25 July 2016director interest notice● Neutral
Energy XXI Ltd President and CEO John D Schiller Jr. acquired 680,269 shares and disposed of 1,360,538 in a set of related equity transactions.
25 July 2016director interest notice● Neutral
Energy XXI Ltd Chief Financial Officer Bruce W Busmire acquired 58,303 shares and disposed of 116,606 in a set of related equity transactions.
25 July 2016director interest notice● Neutral
Energy XXI Ltd Executive VP, CAO Hugh A Menown acquired 186,121 shares and disposed of 372,242 in a set of related equity transactions.
25 July 2016director interest notice● Neutral
Energy XXI Ltd Chief Operating Officer Pinho Antonio De acquired 205,803 shares and disposed of 411,606 in a set of related equity transactions.
5 July 2016debt financing● Neutral
Energy XXI's bankruptcy milestones were reset onto a concrete exit timeline: disclosure statement approval by mid-July, a confirmation hearing by late August, a confirmation order by early September, and plan effectiveness by September 16, 2016.
20 May 2016debt financing▼ Bad
Energy XXI's bankruptcy plan timeline slipped slightly (a four-day extension to file the plan and disclosure statement), while the company reached a term sheet with its revolving-credit lenders and second lien noteholders on how the RBL facility would be treated through the case and upon emergence.
19 May 2016listing compliance notice● NeutralMajor
Energy XXI Ltd's exchange filed to remove a class of its securities from listing.
18 May 2016capital raising announcement● Neutral
Energy XXI filed its Gulf Coast subsidiary's routine Q3 FY2016 financial statements required under its senior notes indentures.
10 May 2016quarterly activities report● Neutral
Energy XXI Ltd reported a quarterly net income of $160.8 million for the period ended 2016-03-31.
10 May 2016substantial holder notice● Neutral
BlackRock, Inc reported no remaining Energy XXI Ltd shareholding in its periodic institutional filing.
26 Apr 2016substantial holder notice● Neutral
Mount Kellett Capital Management LP, Fortress MK Advisors LLC, FIG LLC, Fortress Operating Entity I LP, FIG Corp, Fortress Investment Group LLC reported no remaining Energy XXI Ltd shareholding in its periodic institutional filing.
20 Apr 2016listing compliance notice▼ BadMajor
Nasdaq moved to delist Energy XXI's stock (EXXI) following the bankruptcy filing and its prior minimum-bid-price violation; the company chose not to appeal, and its shares were expected to move to the thinly-traded OTC Pink market.
14 Apr 2016bankruptcy or receivership▼ BadMajor
Energy XXI Ltd, Energy XXI Gulf Coast, EPL Oil & Gas and other subsidiaries filed for Chapter 11 bankruptcy protection on April 14, 2016 in the Southern District of Texas (Case No. 16-31928), backed by a pre-negotiated Restructuring Support Agreement with holders of its 11.000% second lien notes. Under the planned reorganization, existing common and preferred stock would be wiped out entirely, with the second lien noteholders receiving 100% of the new company's equity - the culmination of the borrowing-base and covenant crisis that had been building since the EPL-driven leverage peak in mid-2014.