HOUSTON, Sept. 23, 2013 (GLOBE NEWSWIRE) -- Energy XXI Gulf Coast, Inc. (the "Company"), the operating subsidiary of Energy XXI (Bermuda) Limited ("Energy XXI") (Nasdaq:EXXI) (LSE:EXXI), today announced the pricing of its private placement of $500 million of 7.50% senior unsecured notes due 2021 (the "2021 Notes"). The offering size was increased to $500 million from $300 million. The 2021 Notes were sold at 100% of par to yield 7.50% to maturity. The offering is expected to close on September 26, 2013, subject to customary closing conditions.
Forward-Looking StatementsAll statements included in this release relating to future plans, projects, events or conditions and all other statements other than statements of historical fact included in this release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements in this press release relate to, among other things, the offering of the 2021 Notes and the expected use of proceeds from such offering. These statements are based upon current expectations and are subject to a number of risks, uncertainties and assumptions, including changes in long-term oil and gas prices and other market conditions affecting the oil and gas industry, reservoir performance, the outcome of commercial negotiations and changes in technical or operating conditions, among others, that could cause actual results, including project plans and related expenditures and resource recoveries, to differ materially from those described in the forward-looking statements. Neither Energy XXI nor the Company assumes any obligation and expressly disclaims any duty to update the information contained herein except as required by law.
CONTACT: ENQUIRIES OF THE COMPANY Energy XXI Stewart Lawrence Vice President, Investor Relations and Communications 713-351-3006 firstname.lastname@example.org Greg Smith Director, Investor Relations 713-351-3149 email@example.com Cantor Fitzgerald Europe Nominated Adviser: David Porter, Rick Thompson Corporate Broking: Richard Redmayne Tel: +44 (0) 20 7894 000 Pelham Bell Pottinger James Henderson firstname.lastname@example.org Mark Antelme email@example.com +44 (0) 20 7861 3232