EX-25.1 12 v212903_ex25-1.htm Unassociated Document
 
 
 
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C.  20549
  
 
FORM T-1

STATEMENT OF ELIGIBILITY
UNDER THE TRUST INDENTURE ACT OF 1939 OF A
CORPORATION DESIGNATED TO ACT AS TRUSTEE
  
 
o CHECK IF AN APPLICATION TO DETERMINE ELIGIBILITY OF A TRUSTEE PURSUANT TO
SECTION 305(b) (2)

WELLS FARGO BANK, NATIONAL ASSOCIATION
(Exact name of trustee as specified in its charter)

A National Banking Association
94-1347393
(Jurisdiction of incorporation or
(I.R.S. Employer
organization if not a U.S. national
Identification No.)
bank)
  
   
101 North Phillips Avenue
  
Sioux Falls, South Dakota
57104
(Address of principal executive offices)
(Zip code)

 
Wells Fargo & Company
Law Department, Trust Section
MAC N9305-175
Sixth Street and Marquette Avenue, 17th Floor
Minneapolis, Minnesota 55479
(612) 667-4608
(Name, address and telephone number of agent for service)
   
ENERGY XXI GULF COAST, INC.
(Exact name of obligor as specified in its charter)

 
Delaware
    20-4278595
(State or other jurisdiction of
(I.R.S. Employer
incorporation or organization)
Identification No.)
   
1021 Main (One City Centre)
  
Suite 2626
  
Houston, Texas
77002
(Address of principal executive offices)
(Zip code)
 
     
 
9.25% Senior Notes due 2017
  
   
 (Title of the indenture securities)
 
 
  
 
 
 
TABLE OF ADDITIONAL REGISTRANT GUARANTORS

 
 
EXACT NAME OF ADDITIONAL REGISTRANT AS
SPECIFIED IN ITS CHARTER
  
STATE OR OTHER
JURISDICTION OF
INCORPORATION OR
ORGANIZATION
  
 
 
IRS EMPLOYEE
IDENTIFICATION NO.
Bermuda Energy XXI (Bermuda) Limited
 
Bermuda
  
98-0499286
Delaware Energy XXI GOM, LLC
  
Delaware
  
56-2140027
Delaware Energy XXI Texas Onshore, LLC
  
Delaware
  
20-0650294
Delaware Energy XXI Onshore, LLC
  
Delaware
  
20-0650308
Delaware Energy XXI Pipeline, LLC
  
Delaware
  
27-4165863

 
The address, including zip code, and telephone number, including area code, of each Additional Registrant Guarantor’s principal executive offices is:

 
c/o Energy XXI Gulf Coast, Inc.
1021 Main (One City Centre) Suite 2626
Houston, Texas 77002
Attn: West Griffin
Chief Financial Officer
Phone: 713-351-3003
Fax: 713-351-3303
  
 
 
 
   
Item 1. 
General Information.  Furnish the following information as to the trustee:
   
 
(a)
Name and address of each examining or supervising authority to which it is subject.

 
Comptroller of the Currency
 
Treasury Department
 
Washington, D.C.

 
Federal Deposit Insurance Corporation
 
Washington, D.C.

 
Federal Reserve Bank of San Francisco
 
San Francisco, California 94120

 
(b)
Whether it is authorized to exercise corporate trust powers.

 
The trustee is authorized to exercise corporate trust powers.
 
Item 2.
Affiliations with Obligor.  If the obligor is an affiliate of the trustee, describe each such affiliation.

 
 
None with respect to the trustee.

No responses are included for Items 3-14 of this Form T-1 because the obligor is not in default as provided under Item 13.

Item 15. 
 Foreign Trustee.      
Not applicable.

Item 16.  List of Exhibits.
List below all exhibits filed as a part of this Statement of Eligibility.

 
Exhibit 1.
A copy of the Articles of Association of the trustee now in effect.*

 
Exhibit 2.
A copy of the Comptroller of the Currency Certificate of Corporate Existence and Fiduciary Powers for Wells Fargo Bank, National Association, dated February 4, 2004.**

 
Exhibit 3.
See Exhibit 2

 
Exhibit 4.
Copy of By-laws of the trustee as now in effect.***

 
Exhibit 5.
Not applicable.

 
Exhibit 6.
The consent of the trustee required by Section 321(b) of the Act.

 
Exhibit 7.
A copy of the latest report of condition of the trustee published pursuant to law or the requirements of its supervising or examining authority.

 
Exhibit 8.
Not applicable.

 
Exhibit 9.
Not applicable.
 
 
 
*       Incorporated by reference to the exhibit of the same number to the trustee’s Form T-1 filed as exhibit 25 to the Form S-4 dated December 30, 2005 of Hornbeck Offshore Services LLC file number 333-130784-06.

**    Incorporated by reference to the exhibit of the same number to the trustee’s Form T-1 filed as exhibit 25 to the Form T-3 dated March 3, 2004 of Trans-Lux Corporation file number 022-28721.

***  Incorporated by reference to the exhibit of the same number to the trustee’s Form T-1 filed as exhibit 25 to the Form S-4 dated May 26, 2005 of Penn National Gaming Inc. file number 333-125274.
 
 
 
 
 
SIGNATURE
 
Pursuant to the requirements of the Trust Indenture Act of 1939, as amended, the trustee, Wells Fargo Bank, National Association, a national banking association organized and existing under the laws of the United States of America, has duly caused this statement of eligibility to be signed on its behalf by the undersigned, thereunto duly authorized, all in the City of Dallas and State of Texas on the 7th day of March, 2011.

 
WELLS FARGO BANK, NATIONAL ASSOCIATION
   
 
 
 
Patrick T. Giordano
 
Vice President
   
 
 
 
 
EXHIBIT 6

March 7, 2011

Securities and Exchange Commission
Washington, D.C.  20549

Gentlemen:

In accordance with Section 321(b) of the Trust Indenture Act of 1939, as amended, the undersigned hereby consents that reports of examination of the undersigned made by Federal, State, Territorial, or District authorities authorized to make such examination may be furnished by such authorities to the Securities and Exchange Commission upon its request thereof.
  
     
Very truly yours,
       
     
WELLS FARGO BANK, NATIONAL ASSOCIATION
       
     
 
     
Patrick T. Giordano
     
Vice President
 
 
 
 
Consolidated Report of Condition of

Wells Fargo Bank National Association
of 101 North Phillips Avenue, Sioux Falls, SD 57104
And Foreign and Domestic Subsidiaries,
at the close of business December 31, 2010, filed in accordance with 12 U.S.C. §161 for National Banks.

         
Dollar Amounts
  
         
In Millions
  
ASSETS
            
Cash and balances due from depository institutions:
            
Noninterest-bearing balances and currency and coin
         $ 17,518  
Interest-bearing balances
           57,228  
Securities:
              
Held-to-maturity securities
           0  
Available-for-sale securities
           150,439  
Federal funds sold and securities purchased under agreements to resell:
              
Federal funds sold in domestic offices
           1,656  
Securities purchased under agreements to resell
           16,821  
Loans and lease financing receivables:
              
Loans and leases held for sale
           38,095  
Loans and leases, net of unearned income
     691,483          
LESS: Allowance for loan and lease losses
     19,637          
Loans and leases, net of unearned income and allowance
             671,846  
Trading Assets
             30,824  
Premises and fixed assets (including capitalized leases)
             8,129  
Other real estate owned
             5,713  
Investments in unconsolidated subsidiaries and associated companies
             659  
Direct and indirect investments in real estate ventures                                                  
             111  
Intangible assets
                
Goodwill
             20,931  
Other intangible assets
             26,452  
Other assets
             55,856  
   
                  
Total assets
           $ 1,102,278  
                 
LIABILITIES
                
Deposits:
                
In domestic offices
           $ 747,742  
Noninterest-bearing
     165,559          
Interest-bearing
     582,183          
In foreign offices, Edge and Agreement subsidiaries, and IBFs
             99,235  
Noninterest-bearing
     2,029          
Interest-bearing
     97,206          
Federal funds purchased and securities sold under agreements to repurchase:
                
Federal funds purchased in domestic offices
             2,930  
Securities sold under agreements to repurchase
             16,102  
 
 
 
 
 
   
Dollar Amounts
  
   
In Millions
  
       
Trading liabilities
     15,647  
Other borrowed money
        
(includes mortgage indebtedness and obligations under capitalized leases)
     40,254  
Subordinated notes and debentures
     19,252  
Other liabilities
     37,554  
         
          
Total liabilities
   $ 978,716  
         
EQUITY CAPITAL
        
Perpetual preferred stock and related surplus
     0  
Common stock
     519  
Surplus (exclude all surplus related to preferred stock)
     98,971  
Retained earnings
     17,489  
Accumulated other comprehensive income
     5,280  
Other equity capital components
     0  
   
        
Total bank equity capital
     122,259  
Noncontrolling (minority) interests in consolidated subsidiaries
     1,303  
         
Total equity capital
     123,562  
   
        
Total liabilities, and equity capital
   $ 1,102,278  

I, Howard I. Atkins, EVP & CFO of the above-named bank do hereby declare that this Report of Condition has been prepared in conformance with the instructions issued by the appropriate Federal regulatory authority and is true to the best of my knowledge and belief.
 
 
Howard I. Atkins
 
EVP & CFO
   
We, the undersigned directors, attest to the correctness of this Report of Condition and declare that it has been examined by us and to the best of our knowledge and belief has been prepared in conformance with the instructions issued by the appropriate Federal regulatory authority and is true and correct.
  
John Stumpf                                        Directors
Dave Hoyt
Michael Loughlin