for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up

Energy XXI to file for bankruptcy as soon as Thursday: Bloomberg

(Reuters) - Oil and natural gas producer Energy XXI Ltd EXXI.O will prepare for bankruptcy protection as soon as a grace period for missed interest payments expires on Thursday, Bloomberg reported on Wednesday, citing people with knowledge of the matter.

The Houston-based company previously missed two interest payments on a total of $1.6 billion of debt on March 15, Bloomberg reported. (bloom.bg/1Vq2VB4)

Energy XXI could not be immediately reached for comment.

The company had said on March 9 that it might seek Chapter 11 bankruptcy protection if oil prices remained low and it failed to refinance its debt.

Reporting by Manish Parashar in Bengaluru; Editing by Savio D’Souza

for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up