Debt | Financial Trouble | Capital Markets
Energy XXI Makes Interest Payment After Deferral
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Energy XXI announced that it has made the interest payment due on its EPL Oil and Gas, Inc. 8.25% Senior Notes. This follows the Company's decision to defer this interest payment originally due on February 16, 2016, commencing a 30-day grace period.
As previously announced, the Company continues to work with its financial and legal advisors to analyze a variety of solutions to reduce its overall financial leverage, while maintaining primary focus on preserving liquidity. As part of this process, Energy XXI continues to engage in discussions with its debtholders and other stakeholders to develop and implement a comprehensive plan to restructure its balance sheet. Operations are continuing as normal while these discussions are ongoing.
As Energy XXI continues these discussions, the…
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