Shareholders of Energy XXI (Bermuda) Ltd. and EPL Oil & Gas Inc. have approved the merger to which the companies agreed in March (OGJ Online, Mar. 12, 2014).
Subject to closing conditions, the companies expected completion of the merger about June 3.
The deal involves Energy XXI; EPL; Energy XXI Gulf Coast Inc., an indirect wholly owned subsidiary of Energy XXI; and Clyde Merger Sub Inc., a wholly owned subsidiary of Energy XXI Gulf Coast.
On completion, Merger Sub would merge with EPL, making EPL an indirect wholly owned subsidiary of Energy XXI.