Energy XXI posted a loss of $1.08 per share for the quarter, missing the Thomson Reuters consensus estimate of a loss of $1.01 per share.
Revenue came in at $260.20 million for the quarter, also missing the consensus estimate of $270.90 million.
Declining oil prices are dragging down energy companies in Thursday's session, Reuters reports.
WTI crude for June delivery was trading down 2.86% to $59.19 a barrel as of 1:11 p.m. ET today, while Brent crude is similarly down 2.49% to $66.08 a barrel.
Bermuda-based Energy XXI is an independent oil and natural gas exploration and production company, operating in the U.S. Gulf Coast and the Gulf of Mexico.
Separately, TheStreet Ratings team rates ENERGY XXI LTD as a Sell with a ratings score of D+. TheStreet Ratings Team has this to say about their recommendation:
"We rate ENERGY XXI LTD (EXXI) a SELL. This is driven by a number of negative factors, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its feeble growth in its earnings per share, deteriorating net income, generally high debt management risk, disappointing return on equity and weak operating cash flow."