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.
13 Feb 2017listing compliance notice▼ Bad
Energy XXI Ltd withdrew the Form 15 it filed on December 30, 2016 to end its SEC reporting. It will instead report in a modified way until its liquidation proceeding under Bermuda law concludes; the filing is signed by John C. McKenna as Provisional Liquidator and lists about 414 holders of record. This confirms the Bermuda parent is being liquidated, in line with the 2016 plan that wiped out its equity.
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.