EX-25.1 7 v333412_ex25-1.htm EXHIBIT 25.1

 

 

 

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

 

 

 

¨ 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 (BERMUDA) LIMITED

ENERGY XXI GULF COAST, INC.*

(Exact name of registrant as specified in their charters)

 

Bermuda

Delaware

 

98-0499286

20-4278595

(State or other jurisdiction
of incorporation or organization)
  (I.R.S. Employer Identification Number)

  

Canon’s Court, 22 Victoria Street, PO Box HM 1179,

Hamilton HM EX, Bermuda

441-295-2244

 

 

  

1021 Main, Suite 2626

Houston, Texas 77002

713,351-3000

 

 

 

DEBT SECURITIES

 

Includes certain registrant guarantors identified below.

 

Delaware

(State or Other Jurisdiction of Incorporation or Organization)

 

Energy XXI USA, Inc.

(Exact Name of Registrant As Specified In Its Charter)

 

20-4278552

(I.R.S. Employer Identification Number)

         

Delaware

(State or Other Jurisdiction of Incorporation or Organization)

 

Energy XXI GOM, LLC

(Exact Name of Registrant As Specified In Its Charter)

 

56-2140027

(I.R.S. Employer Identification Number)

         


Delaware

(State or Other Jurisdiction of Incorporation or Organization)

  MS Onshore, LLC
(Exact Name of Registrant As Specified In Its Charter)
  37-1708573
(I.R.S. Employer Identification Number)
         

Delaware

(State or Other Jurisdiction of Incorporation or Organization)

 

Energy XXI Texas Onshore, LLC

(Exact Name of Registrant As Specified In Its Charter)

 

20-0650294

(I.R.S. Employer Identification Number)

         

Delaware

(State or Other Jurisdiction of Incorporation or Organization)

 

Energy XXI Onshore, LLC

(Exact Name of Registrant As Specified In Its Charter)

 

20-0650308

(I.R.S. Employer Identification Number)

         

Delaware

(State or Other Jurisdiction of Incorporation or Organization)

 

Energy XXI Pipeline, LLC

(Exact Name of Registrant As Specified In Its Charter)

  27-4165863
(I.R.S. Employer Identification Number)
         

Delaware

(State or Other Jurisdiction of Incorporation or Organization)

  Energy XXI Pipeline II, LLC
(Exact Name of Registrant As Specified In Its Charter)
  45-3938238
(I.R.S. Employer Identification Number)
         

Delaware

(State or Other Jurisdiction of Incorporation or Organization)

  Energy XXI Leasehold, LLC
(Exact Name of Registrant As Specified In Its Charter)
  45-3948121
(I.R.S. Employer Identification Number)

  

 
 

 

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 29th day of January, 2013.

 

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

 

 
 

 

EXHIBIT 6

 

January 29, 2013

 

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 September 30, 2012, 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       $16,931 
Interest-bearing balances        74,188 
Securities:          
Held-to-maturity securities        0 
Available-for-sale securities        204,296 
Federal funds sold and securities purchased under agreements to resell:          
Federal funds sold in domestic offices        30 
Securities purchased under agreements to resell        24,666 
Loans and lease financing receivables:          
Loans and leases held for sale        31,929 
Loans and leases, net of unearned income   728,980      
LESS: Allowance for loan and lease losses   14,500      
Loans and leases, net of unearned income and allowance        714,480 
Trading Assets        40,930 
Premises and fixed assets (including capitalized leases)        7,618 
Other real estate owned        4,074 
Investments in unconsolidated subsidiaries and associated companies        581 
Direct and indirect investments in real estate ventures        86 
Intangible assets          
Goodwill        21,545 
Other intangible assets        19,703 
Other assets        57,739 
           
Total assets       $1,218,796 
           
LIABILITIES          
Deposits:          
In domestic offices       $876,434 
Noninterest-bearing   234,742      
Interest-bearing   641,692      
In foreign offices, Edge and Agreement subsidiaries, and IBFs        76,676 
Noninterest-bearing   2,323      
Interest-bearing   74,353      
Federal funds purchased and securities sold under agreements to repurchase:          
Federal funds purchased in domestic offices        8,985 
Securities sold under agreements to repurchase        11,823 

  

 
 

 

   Dollar Amounts 
   In Millions 
     
Trading liabilities   23,232 
Other borrowed money     
(includes mortgage indebtedness and obligations under capitalized leases)   39,783 
Subordinated notes and debentures   16,786 
Other liabilities   35,449 
      
Total liabilities  $1,089,168 
      
EQUITY CAPITAL     
Perpetual preferred stock and related surplus   0 
Common stock   519 
Surplus (exclude all surplus related to preferred stock)   99,518 
Retained earnings   20,950 
Accumulated other comprehensive income   7,541 
Other equity capital components   0 
      
Total bank equity capital   128,528 
Noncontrolling (minority) interests in consolidated subsidiaries   1,100 
      
Total equity capital   129,628 
      
Total liabilities, and equity capital  $1,218,796 

 

I, Timothy J. Sloan, 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.

 

  Timothy J. Sloan
  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
David Hoyt  
Carrie Tolstedt