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Energy XXI Declares Regular Quarterly Dividends on Common and Preferred Shares

HOUSTON, Jan. 29, 2015 (GLOBE NEWSWIRE) -- Energy XXI (Nasdaq:EXXI) today announced its Board of Directors declared a quarterly dividend of $0.01 per share of common stock. The dividend is to be paid on March 13, 2015 to shareholders of record on February 27, 2015. As of January 28, 2015, the company had 94,388,409 shares of common stock outstanding. The Board of Directors will determine future dividends for Energy XXI common stock on a quarterly basis, with the amount dependent upon earnings, financial condition, capital requirements and other factors.

The Board of Directors also declared a $1.8125 per share quarterly dividend on its shares of 7.25% Convertible Perpetual Preferred Stock, which have a face value of $100 per share, and a $3.5156 per share quarterly dividend on its shares of 5.625% Convertible Perpetual Preferred Stock, which have a face value of $250 per share. Dividends on both issues will be paid in cash on March 13, 2015 to the holders of record on February 27, 2015. The company currently has 3,000 shares of its 7.25% Convertible Perpetual Preferred Stock outstanding and 812,759 shares of its 5.625% Convertible Perpetual Preferred Stock outstanding.

About the Company

Energy XXI is an independent oil and natural gas exploration and production company whose growth strategy emphasizes acquisitions, enhanced by its value-added organic drilling program. The company's properties are located in the U.S. Gulf of Mexico waters and the Gulf Coast onshore. To learn more, visit the Energy XXI website at www.EnergyXXI.com.

CONTACT: Greg Smith Vice President, Investor Relations 713-351-3149 gsmith@energyxxi.com Kim Pinyopusarerk Manager, Investor Relations 713-351-3028 kpinyo@energyxxi.com

Source:Energy XXI