Energy XXI (Bermuda) Limited Completes 7.50% Senior Notes Exchange Offer

HOUSTON, May 23, 2014 (GLOBE NEWSWIRE) -- Energy XXI Gulf Coast, Inc. (the "Company"), the operating subsidiary of Energy XXI (Bermuda) Limited ("Energy XXI") (Nasdaq:EXXI) (AIM:EXXI), today announced that it has completed the exchange offer relating to its 7.50% Senior Notes due 2021 (the "Notes"). The Company's offer to exchange up to $500,000,000 aggregate principal amount of the Notes that were not registered under the Securities Act of 1933, as amended (the "Securities Act"), for an equal principal amount of the Notes that have been registered under the Securities Act, expired at 5:00 p.m., New York City time, on May 23, 2014. The Company received and accepted tenders of 100% of the Notes that were outstanding.

CONTACT: ENQUIRIES OF THE COMPANY
         
         Energy XXI
         Stewart Lawrence
         Vice President, Investor Relations and Communications
         713-351-3006
         slawrence@energyxxi.com
         
         Greg Smith
         Director, Investor Relations
         713-351-3149
         gsmith@energyxxi.com
         
         Cantor Fitzgerald Europe
         Nominated Adviser: David Porter, Rick Thompson
         Corporate Broking: Richard Redmayne
         Tel: +44 (0) 20 7894 000
         
         Pelham Bell Pottinger
         James Henderson
         jhenderson@pelhambellpottinger.co.uk
         Mark Antelme
         mantelme@pelhambellpottinger.co.uk
         +44 (0) 20 7861 3232