Energy XXI reports $417.87 million operating loss for the quarter

By Sheri Kasprzak

New York, May 10 – Energy XXI Ltd. posted a $417.87 million operating loss for the quarter ending March 31 on total revenues of $116.29 million, said a 10-Q filed Tuesday with the Securities and Exchange Commission.

For the same quarter of 2015, the company’s operating loss was $698.59 million on $221.58 million total revenues.

At the end of the quarter, Energy XXI had $183.45 million of cash and cash equivalents compared to $756.85 million at the beginning of the quarter. At the end of the same quarter of 2015, the company had $602.02 million of cash and cash equivalents on hand.

Energy XXI, an independent oil and natural gas development and production company based in Houston, filed for bankruptcy on April 14. Its Chapter 11 case number is 16-31928.

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