Energy XXI Declares Regular Quarterly Dividends on Common and Preferred Shares

HOUSTON, April 29, 2014 (GLOBE NEWSWIRE) -- Energy XXI (Nasdaq: EXXI) (AIM: EXXI) today announced its Board of Directors declared a quarterly dividend of $0.12 per share of common stock. The dividend is to be paid on June 13, 2014 to shareholders of record on May 30, 2014. As of April 29, 2014, the company had 70,343,697 shares of common stock outstanding. The Board of Directors will determine future dividends for Energy XXI common stock on a quarterly basis, with the amount dependent upon earnings, financial condition, capital requirements and other factors.

The Board of Directors also declared a $1.8125 per share quarterly dividend on its shares of 7.25% Convertible Perpetual Preferred Stock, which have a face value of $100 per share, and a $3.5156 per share quarterly dividend on its shares of 5.625% Convertible Perpetual Preferred Stock, which have a face value of $250 per share.  Dividends on both issues will be paid in cash on June 13, 2014 to the holders of record on May 30, 2014. The company currently has 8,000 shares of its 7.25% Convertible Perpetual Preferred Stock outstanding and 812,760 shares of its 5.625% Convertible Perpetual Preferred Stock outstanding.

About the Company

Energy XXI is an independent oil and natural gas exploration and production company whose growth strategy emphasizes acquisitions, enhanced by its value-added organic drilling program. The company's properties are located in the U.S. Gulf of Mexico waters and the Gulf Coast onshore. Cantor Fitzgerald Europe is Energy XXI's listing broker in the United Kingdom.  To learn more, visit the Energy XXI website at www.EnergyXXI.com.

CONTACT: Energy XXI

         Stewart Lawrence
         Vice President, Investor Relations and Communications
         713-351-3006
         [email protected]

         Greg Smith
         Director, Investor Relations
         713-351-3149
         [email protected]

         Cantor Fitzgerald Europe

         Nominated Adviser: David Porter, Rick Thompson
         Corporate Broking - Richard Redmayne
         Tel: +44 (0) 20 7894 7000

         Pelham Bell Pottinger

         James Henderson
         [email protected]

         Mark Antelme
         [email protected]
         +44 (0) 20 7861 3232

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