Energy XXI (EXXI) to Restate Prior Financials on Account Method Adjustment
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Energy XXI Reports Restatement of Prior Period Financials Due to Change in Derivative Accounting Method
September 8, 2015 7:01 AM EDTHOUSTON, Sept. 8, 2015 (GLOBE NEWSWIRE) -- Energy XXI Ltd (NASDAQ: EXXI) (the "Company") today announced that it will restate its financial statements to correct its method of accounting for crude oil and natural gas hedging to reflect unrealized hedging gains and losses in the Company's consolidated statements of operations as a component of earnings rather than on its consolidated balance sheets.
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