Energy XXI Declares Regular Quarterly Dividends on Preferred Shares

Energy XXI (Nasdaq:EXXI) today announced its Board of Directors 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 December 15, 2015 to the holders of record on December 1, 2015. The company currently has 3,000 shares of its 7.25% Convertible Perpetual Preferred Stock outstanding and 797,759 shares of its 5.625% Convertible Perpetual Preferred Stock outstanding.

About the Company

Energy XXI is an independent oil and natural gas development 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.

Enquiries of the Company

Energy XXI 
Greg Smith
Vice President, Investor Relations 
713-351-3149
[e-mail]

David Griffith
Associate, Investor Relations
713-351-3176
[e-mail]