Energy XXI Gulf Coast, Inc. (NASDAQ:EXXI) Files An 8-K Submission of Matters to a Vote of Security HoldersItem 5.07. Submission of Matters to a Vote of Security Holders
As previously disclosed in the Original Form 8-K, in a non-binding advisory vote on the frequency of future advisory votes on the compensation of our named executive officers (say on pay) held at the Annual Meeting, 26,568,222 shares voted for one year, 333 shares voted for two years, 9,820 shares voted for three years, 469,562 shares abstained and there were 2,078,238 broker non-votes. In accordance with these results and its previous recommendation (as set forth in the definitive proxy statement for the Annual Meeting), the Board of Directors of the Company has determined that the Company will hold future say on pay votes every year until the next advisory vote on the frequency of say on pay votes.
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 -0.27 at 26.93 with 40,617 shares trading hands.