0001144204-18-038575.txt : 20180717 0001144204-18-038575.hdr.sgml : 20180717 20180716191839 ACCESSION NUMBER: 0001144204-18-038575 CONFORMED SUBMISSION TYPE: DEFA14A PUBLIC DOCUMENT COUNT: 2 FILED AS OF DATE: 20180717 DATE AS OF CHANGE: 20180716 EFFECTIVENESS DATE: 20180717 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Energy XXI Gulf Coast, Inc. CENTRAL INDEX KEY: 0001404973 STANDARD INDUSTRIAL CLASSIFICATION: CRUDE PETROLEUM & NATURAL GAS [1311] IRS NUMBER: 204278595 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: DEFA14A SEC ACT: 1934 Act SEC FILE NUMBER: 001-38019 FILM NUMBER: 18955310 BUSINESS ADDRESS: STREET 1: 1021 MAIN STREET STREET 2: SUITE 2626 CITY: HOUSTON STATE: TX ZIP: 77002 BUSINESS PHONE: 713-351-3000 MAIL ADDRESS: STREET 1: 1021 MAIN STREET STREET 2: SUITE 2626 CITY: HOUSTON STATE: TX ZIP: 77002 DEFA14A 1 tv498671_defa14a.htm DEFA14A

 

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

SCHEDULE 14A

 

Proxy Statement Pursuant to Section 14(a) of
the Securities Exchange Act of 1934

 

Filed by the Registrant   x                            

Filed by a party other than the Registrant ¨

 

Check the appropriate box:

 

¨ Preliminary Proxy Statement

 

¨ Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2))

 

¨ Definitive Proxy Statement

 

x Definitive Additional Materials

 

¨ Soliciting Material under §240.14a-12

 

Energy XXI Gulf Coast, Inc.

(Name of Registrant as Specified In Its Charter)

 

(Name of Person(s) Filing Proxy Statement, if other than the Registrant)

 

Payment of Filing Fee (Check the appropriate box):

 

x No fee required.

 

¨ Fee computed on table below per Exchange Act Rules 14a-6(i)(1) and 0-11.

 

  (1) Title of each class of securities to which transaction applies:
     
  (2) Aggregate number of securities to which transaction applies:
     
  (3) Per unit price or other underlying value of transaction computed pursuant to Exchange Act Rule 0-11 (set forth the amount on which the filing fee is calculated and state how it was determined):
     
  (4) Proposed maximum aggregate value of transaction:
     
  (5)  Total fee paid:
     

  

¨ Fee paid previously with preliminary materials.

 

¨ Check box if any part of the fee is offset as provided by Exchange Act Rule 0-11(a)(2) and identify the filing for which the offsetting fee was paid previously. Identify the previous filing by registration statement number, or the Form or Schedule and the date of its filing.

 

  (1) Amount Previously Paid:
     
  (2) Form, Schedule or Registration Statement No.:
     
  (3) Filing Party:
     
  (4) Date Filed:
     

 

 

 

 

 

On July 16, 2018, Energy XXI Gulf Coast, Inc. (“EGC”) issued the press release attached hereto as Exhibit 1, which is incorporated herein in its entirety. Because the attached press release refers to the transactions contemplated by that certain Agreement and Plan of Merger dated as of June 18, 2018 by and among EGC, MLCJR LLC and YHIMONE, Inc., the attached press release might be considered additional definitive proxy solicitation materials under Rule 14a-6(b) under the Securities Exchange Act of 1934, as amended.

 

 

 

 

 

 

 Exhibit 1

 

Energy XXI Gulf Coast, Inc. Provides Comments on Today’s Announcement by the Securities and Exchange Commission Regarding Charges Against the Former Chief Executive officer and a Board Member of the Predecessor Company Energy XXI Ltd

 

HOUSTON – July 16, 2018 – Energy XXI Gulf Coast, Inc. (“EGC” or the “Company”) (NASDAQ: EGC) provided the following comments regarding the issuance of a news release today by the Securities and Exchange Commission (“SEC”) in which the SEC announced a settlement with, a former officer and a former outside director of Energy XXI Ltd (“EXXI Ltd”), the predecessor to Energy XXI Gulf Coast, Inc.

 

“The activities by the individuals noted in the release that are the subject of the SEC’s actions occurred prior to EXXI Ltd’s filing for bankruptcy in April 2016. EXXI Ltd was dissolved on June 29, 2017.

 

EGC is a new company with an entirely new executive management team and Board of Directors. EGC is not a party to the actions announced by the SEC today, and none of the conduct in question occurred after EGC’s emergence from chapter 11 reorganization on December 30, 2016. Since emergence, EGC has taken a number actions to enhance corporate governance, including in the areas of vendor procurement, conflicts of interest, pledging EGC securities and gift, travel and entertainment expenses.

 

EGC does not expect the actions taken by the SEC today to have any impact on its pending transaction with Cox Oil LLC and its affiliates.”

 

 

 

 

About Energy XXI Gulf Coast, Inc.

 

Energy XXI Gulf Coast (EGC) is an exploration and production company headquartered in Houston, Texas that is engaged in the development, exploitation and acquisition of oil and natural gas properties in conventional assets in the U.S. Gulf Coast region, both offshore in the Gulf of Mexico and onshore in Louisiana and Texas. To learn more, visit EGC’s website at www.energyxxi.com.

 

Cautionary Note Regarding Forward-Looking Statements

 

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements, including those relating to the intent, beliefs, plans, or expectations of EGC are based upon current expectations and are subject to a number of risks, uncertainties, and assumptions that could cause actual results to differ materially from the projections, anticipated results or other expectations expressed. It is not possible to predict or identify all such factors and the following list of factors should not be considered a complete statement of all potential risks and uncertainties, including, but not limited to: (i) our ability to maintain sufficient liquidity and/or obtain adequate additional financing necessary to fund our operations, capital expenditures and to execute our business plan, develop our proved undeveloped reserves within five years and to meet our other obligations, including plugging and abandonment and decommissioning obligations; (ii) our future financial condition, results of operations, revenues, expenses and cash flow; (iii) our current or future levels of indebtedness, liquidity, compliance with financial covenants and our ability to continue as a going concern; (iv) our ability to post collateral for current or future bonds or comply with any new regulations or Notices to Lessees and Operator; (v) our ability to comply with covenants under the three-year secured credit facility; (vi) changes in our business strategy; (vii) sustained or further declines in the prices we receive for our oil and natural gas production; (viii) the possibility that the proposed transaction with Cox Oil and its affiliates will not be completed at all or, if completed, prior to the third quarter of this year, (ix) the possibility the proposed transaction could be completed on terms that are materially different than those described in this press release; (x) the possibility that we will not be able to obtain required approvals by regulators and EGC’s lenders and stockholders for the proposed transaction; (xi) the possibility that the anticipated benefits from the proposed transaction cannot be fully realized; (xii) the possibility that costs or difficulties related to the proposed transaction will be greater than expected and other risk factors included in the reports filed with the SEC by EGC; and (xiii) other risks and uncertainties. These risks and uncertainties could cause actual results, including project plans and related expenditures and resource recoveries, to differ materially from those described in the forward-looking statements. For a more detailed discussion of risk factors, please see the risk factors discussed in EGC’s periodic reports filed with the SEC. While EGC makes these statements and projections in good faith, EGC assumes no obligation and expressly disclaims any duty to update the information contained herein except as required by law.

 

 4 

 

 

Investor Relations Contacts
Al Petrie
Investor Relations Coordinator 
713-351-3171
apetrie@energyxxi.com

 

Argelia Hernandez
Investor Relations Specialist 
713-351-3175
ahernandez@energyxxi.com

 

 5 

 

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