Energy XXI (Bermuda) Ltd. - 2010-12-06

Increased price of a private placement of its 9.25% senior unsecured notes due 2017. The company had initially targeted an offering of $700 million of the 2017 notes. Net proceeds, together with borrowings under its revolving credit facility and cash on hand provided by Energy XXI's recent equity offerings, will be used to finance the acquisition of certain shallow-water Gulf of Mexico shelf oil and gas interests from ExxonMobil, to repurchase or redeem its 16% second lien junior secured notes due 2014, and to redeem $47.6 million of its 10% senior notes due 2013.