Energy XXI Gulf Coast, Inc. (NASDAQ:EXXI) Files An 8-K Regulation FD Disclosure

Item 7.01

A copy of the press issued by the Company regarding the results
of the NSAI Reports is attached hereto as Exhibit 99.1 and is
incorporated herein by reference.

The information responsive to this Item 7.01, including the press
release attached as Exhibit 99.1, is being furnished and shall
not be deemed to be filed for purposes of Section 18 of the
Securities Exchange Act of 1934, as amended (the Exchange Act),
or otherwise be subject to the liabilities of that section, nor
shall it be deemed to be incorporated by reference in any filing
under the Securities Act of 1933, as amended, or the Exchange
Act.

According to the NSAI Reserve Report, total SEC proved reserves
as of March 31, 2017 were 109.4 million barrels of oil equivalent
(MMBOE), of which 80% were oil, 2% were natural gas liquids, and
18% were natural gas. All of the Companys proved reserves are on
the Gulf of Mexico Shelf or U.S. Gulf Coast, and 71% are
classified as proved developed reserves. SEC 12-month average
NYMEX pricing on March 31, 2017 was $47.62 per barrel of oil
(BBL) and $2.73 per thousand cubic feet of natural gas (MCF),
before differentials. The present value of the SEC proved
reserves discounted at 10% (PV-10 Value) was $108.4 million.

By comparison, in the Companys year-end 2016 internally-prepared
report, total SEC proved reserves were 121.9 MMBOE and the PV-10
Value was $135.4million, using a crude oil price of $42.74 per
BBL and $2.48 per MCF, before differentials. The primary
non-commodity price factors contributing to the difference
between the NSAI Reserve Report and the internally-prepared
year-end 2016 report are: (i)technical reassessments, (ii)higher
capital costs and (iii)production during the first quarter of
2017. The impact of those factors was partially offset by higher
SEC average commodity prices for both crude oil and natural gas.

Proved reserves as of March 31, 2017 in the NSAI Strip Pricing
Reserve Case are estimated to be 113.7 MMBOE based on forward
strip commodity pricing for oil, which averages $51.58 per BBL
for the remainder of 2017, and for natural gas, which averages
$3.33 per MCF for the remainder of 2017, before differentials.
The PV-10 Value of those proved reserves is estimated to be
$399.1 million.

Copies of the letters addressed from NSAI to the Company
regarding the NSAI Reserve Report and the NSAI Strip Pricing
Reserve Case are attached hereto as Exhibits 99.2 and 99.3,
respectively, and are incorporated herein by reference.

The Company has filed a Notification of Late Filing on Form
12b-25 with respect to its Quarterly Report on Form 10-Q for the
period ended March 31, 2017 (the March Form 10-Q). As disclosed
in the Form 12b-25, the Company is unable to file its March Form
10-Q by the prescribed due date because the timing of the receipt
of the NSAI Reserve Report resulted in unexpected delays in the
completion of its financial statements and related portions of
its March Form 10-Q. The Company is working diligently to process
this information through its financial statements and anticipates
that the March Form 10-Q will be filed on or before the fifth
calendar day following its prescribed due date.

About Energy XXI Gulf Coast, Inc. (NASDAQ:EXXI)

Energy XXI Gulf Coast, Inc. (EGC) is an independent oil and natural gas development and production company which was focused on development drilling on the Company’s core properties. The Company’s properties are located in the United States Gulf of Mexico waters and the Gulf Coast onshore. The Company operates nine oilfields on the Gulf of Mexico Shelf. As of December 31, 2016, total proved reserves were 121.9 million barrels of oil equivalents (MMBOE) of which 78% were crude oil. The Company operated in 616 gross producing wells on 439,294 net developed acres, including interests in 57 producing fields. The Company’s projects include Main Pass Complex, West Delta, Ship Shoal, Grand Isle and South Timbalier. The Main Pass complex is located in approximately 100 feet of water near the mouth of the mississippi river. It includes Main Pass 61 field and Main Pass 73 field along with the Main Pass 296 and 311.

Energy XXI Gulf Coast, Inc. (NASDAQ:EXXI) Recent Trading Information

Energy XXI Gulf Coast, Inc. (NASDAQ:EXXI) closed its last trading session down -0.25 at 26.85 with 233,369 shares trading hands.