During the corresponding time, Energy Xxi Gulf Coast, Inc. saw a revenue deteriorated by -11.52 % year on year, sequentially revenue fell by -4.45 %. While revenue at the Energy Xxi Gulf Coast, Inc.'s corporate clients
Energy Xxi Gulf Coast's Comment on Sales, Marketing and Customers
We market substantially all of our oil and natural gas production from the properties
we operate. We also market more than half of our oil and natural gas production
from the fields we do not operate. The majority of our operated oil and natural
gas production is sold to a variety of purchasers under short-term (less than
12 months) contracts at market-based prices.
Trafigura Trading, LLC (“Trafigura”), Chevron USA (“Chevron”)
and Shell Trading Company (“Shell”) accounted for approximately
27%,, of our total oil and natural gas revenues. Trafigura accounted for approximately
22% of our total oil and natural gas revenues. Chevron accounted for approximately
22% of our total oil and natural gas revenues. We also sell our production to
a number of other customers, and we believe that those customers, along with
other purchasers of oil and natural gas, would purchase all or substantially
all of our production in the event that Trafigura, Chevron or Shell curtailed
their purchases. Although we believe we will be able to sell our production,
prices may vary depending on demand.
