Investing.com - Financial Markets Worldwide
Cyber Monday Deal: Up to 60% off InvestingProCLAIM SALE

Energy XXI delays interest payment on unit

Published 2016-03-15, 07:40 a/m
Energy XXI delays interest payment on unit
EGC
-

March 15 (Reuters) - U.S. oil and gas producer Energy XXI
Ltd EXXI.O said on Tuesday it had delayed paying the interest
due on the debt of one of its subsidiaries, as it continues to
work with advisers to slash debt.
Energy XXI said it was delaying interest payment due on
March 15 on Energy XXI Gulf Coast Inc's debt, commencing a
30-day grace period.
The company, however, paid the interest on the debt of one
of its other subsidiaries, EPL Oil and Gas Inc, that was
originally due on Feb. 16 and was deferred.
Energy XXI, which owes about $3.3 billion, said in a
regulatory filing this month that it may file for bankruptcy if
oil prices remain low.

Latest comments

Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.