Energy XXI Files for Bankruptcy

Reuters

April 14 (Reuters) - U.S. oil and gas producer Energy XXI Ltd, which has operations in Louisiana, Texas and the Gulf of Mexico, said on Thursday it has filed for bankruptcy protection, becoming one of the biggest casualties of the oil rout to date.

The company will eliminate more than $2.8 billion in debt from its balance sheet through the Chapter 11 restructuring, it said in a statement.

(Reporting by Jessica DiNapoli and Rama Venkat Raman in Bengaluru; Editing by Gopakumar Warrier)

Copyright 2016 Thomson Reuters. Click for Restrictions.

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