Energy XXI has implemented an “acquire and exploit” growth strategy to build a geographically focused portfolio with some of the highest per-unit margins in the industry. The company has focused on developing the acquired properties while ramping up a complementary exploration program designed to provide organic growth for the future. Energy XXI completed five major acquisitions totaling approximately $2.5 billion since its founding in October 2005, creating a company with more than 116 million barrels of oil equivalent (BOE) of proved reserves and about 42,000 BOE per day of production, 67% of which is oil. Energy XXI operates or has an interest in 7 of the 11 largest oil fields in the Gulf of Mexico. The company’s core properties are located in coastal and offshore Louisiana.

Securities Outstanding

Energy XXI securities in issue are as follows:

Common shares as of July 31, 2011:

  

50,819,116

Approximately 5.5% of the common shares are held by Energy XXI management and directors. Insofar as the company is aware, 0% of the common shares are held by investors (included below) who individually own 10% or more of those securities. As a result, 5.4% of the common shares are deemed to be not in public hands.

Below is a list of significant holders (Updated 6/30/11)

Mount Kellett Capital Management LP

New York

NY

6/30/2011

5,923,158

7.78%

BlackRock Advisors LLC

New York

NY

6/30/2011

5,043,402

6.62%

Omega Advisors, Inc.

New York

NY

6/30/2011

3,679,638

4.83%

The Vanguard Group, Inc.

Malvern

PA

6/30/2011

3,166,442

4.16%

Rainier Investment Management, Inc.

Seattle

WA

6/30/2011

2,948,356

3.87%

BlackRock Fund Advisors

San Francisco

CA

6/30/2011

2,411,829

3.17%

Senator Investment Group

New York

NY

6/30/2011

2,000,000

2.63%

JPMorgan Asset Management (UK) Ltd.

London

6/30/2011

1,654,982

2.17%

State Street Global Advisors

Boston

MA

6/30/2011

1,647,683

2.16%

Friess Associates LLC

Greenville

DE

6/30/2011

1,560,896

2.05%