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Energy XXI Gulf Coast, Inc.

No Longer Reporting

The company has not filed an annual or quarterly report since its Q2 FY2018 10-Q, filed Aug 9, 2018. Its latest SEC filing is a EFFECT from Oct 29, 2018.

The sections below describe the company as of the FY2017 annual report.

What Did They Do?

Produces and sells oil and natural gas from offshore Gulf of Mexico and onshore Louisiana and Texas properties to commodity purchasers.

How Did They Make Money?

Oil and natural gas buyers pay the contracted sale price when production is delivered.

FY2017 revenue

Who Were Their Customers?

Sells oil and natural gas to purchasers including Chevron, Shell, Plains and Trafigura under short-term, market-priced contracts.

Customers above 10% of revenue, FY2017
of revenue from four customers (26%, 25%, 18%, 12%)
FY2015: 79% from three customers

Did Revenues Turn Into Profits?

No. It lost $341M in FY2017.

Operating income, FY2017
−64% of revenue
Net income, FY2017
−67% of revenue

How Were They Changing?

Since the FY2017 annual report
Latest quarter: Q2 FY2018, the three months to Jun 30, 2018
Revenue
▼ −19%
vs $144M in Q2 FY2017
Net income
▲ +30% (Loss)
vs −$26.2M in Q2 FY2017
  • Oct 18, 2018 Merger closed, making EGC a subsidiary of a Cox affiliate EGC shares converted into the right to receive $9.10 in cash, and Nasdaq trading was suspended.
  • Jun 18, 2018 Cox affiliate agreed to acquire EGC The agreement set cash consideration at $9.10 per fully diluted share, subject to closing conditions.

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