EX-25.1 7 v395240_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 GULF COAST, INC.*
(Exact name of registrant as specified in its charter)

 

Delaware
(State or other jurisdiction of
incorporation or organization)
  1311
(Primary Standard Industrial
Classification Code Number)
  20-4278595
(IRS Employer
Identification Number)

1021 Main, Suite 2626
Houston, Texas 77002
(713) 351-3000

(Address, including Zip Code, and Telephone
Number, including area code, of Registrant’s
Principal Executive Offices)

      Antonio de Pinho
1021 Main Street, Suite 2626
Houston, Texas 77002
(713) 351-3000
(Name, address, including Zip Code, and
Telephone Number, including Area Code, of
Agent for Service)

 

6.875% Senior Notes due 2024

 

 
 

 

   

ADDITIONAL GUARANTOR REGISTRANTS

   
Bermuda   Energy XXI Ltd   98-0499286
(State or Other Jurisdiction of Incorporation or Organization)   (Exact Name of Registrant As Specified In Its Charter)   (I.R.S. Employer Identification Number)
Delaware   Energy XXI GOM, LLC   56-2140027
(State or Other Jurisdiction of Incorporation or Organization)   (Exact Name of Registrant As Specified In Its Charter)   (I.R.S. Employer Identification Number)
Delaware   Energy XXI Texas Onshore, LLC   20-0650294
(State or Other Jurisdiction of Incorporation or Organization)   (Exact Name of Registrant As Specified In Its Charter)   (I.R.S. Employer Identification Number)
Delaware   Energy XXI Onshore, LLC   20-0650308
(State or Other Jurisdiction of Incorporation or Organization)   (Exact Name of Registrant As Specified In Its Charter)   (I.R.S. Employer Identification Number)
Delaware   Energy XXI Pipeline, LLC   27-4165863
(State or Other Jurisdiction of Incorporation or Organization)   (Exact Name of Registrant As Specified In Its Charter)   (I.R.S. Employer Identification Number)
Delaware   Energy XXI Pipeline II, LLC   45-3938238
(State or Other Jurisdiction of Incorporation or Organization)   (Exact Name of Registrant As Specified In Its Charter)   (I.R.S. Employer Identification Number)
Delaware   Energy XXI Leasehold, LLC   45-3948121
(State or Other Jurisdiction of Incorporation or Organization)   (Exact Name of Registrant As Specified In Its Charter)   (I.R.S. Employer Identification Number)
Delaware   MS Onshore, LLC   37-1708573
(State or Other Jurisdiction of Incorporation or Organization)   (Exact Name of Registrant As Specified In Its Charter)   (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 25th of November, 2014.

 

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

 

 
 

 

EXHIBIT 6

 

November 25, 2014

 

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  

 

 
 

 

Exhibit 7
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 June 30, 2014, 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       $20,183 
Interest-bearing balances        210,191 
Securities:          
Held-to-maturity securities        30,108 
Available-for-sale securities        212,699 
Federal funds sold and securities purchased under agreements to resell:          
Federal funds sold in domestic offices        118 
Securities purchased under agreements to resell        20,279 
Loans and lease financing receivables:          
Loans and leases held for sale        25,789 
Loans and leases, net of unearned income        784,428 
LESS: Allowance for loan and lease losses   11,341      
Loans and leases, net of unearned income and allowance   773,087      
Trading Assets        35,111 
Premises and fixed assets (including capitalized leases)        7,503 
Other real estate owned        4,003 
Investments in unconsolidated subsidiaries and associated companies        760 
Direct and indirect investments in real estate ventures        3 
Intangible assets          
Goodwill        21,627 
Other intangible assets        20,078 
Other assets        55,289 
           
Total assets       $1,436,828 
           
LIABILITIES          
Deposits:          
In domestic offices       $1,033,620 
Noninterest-bearing   283,808      
Interest-bearing   749,812      
In foreign offices, Edge and Agreement subsidiaries, and IBFs        102,345 
Noninterest-bearing   746      
Interest-bearing   101,599      
Federal funds purchased and securities sold under agreements to repurchase:          
Federal funds purchased in domestic offices        14,477 
Securities sold under agreements to repurchase        15,687 

 

 
 

 

   Dollar Amounts 
   In Millions 
     
Trading liabilities   14,382 
Other borrowed money     
(includes mortgage indebtedness and obligations under capitalized leases)   65,797 
Subordinated notes and debentures   19,868 
Other liabilities   29,113 
      
Total liabilities  $1,295,289 
      
EQUITY CAPITAL     
Perpetual preferred stock and related surplus   0 
Common stock   519 
Surplus (exclude all surplus related to preferred stock)   103,060 
Retained earnings   33,449 
Accumulated other comprehensive income   4,364 
Other equity capital components   0 
      
Total bank equity capital   141,392 
Noncontrolling (minority) interests in consolidated subsidiaries   147 
      
Total equity capital   141,539 
      
Total liabilities, and equity capital  $1,436,828 

 

I, John R. Shrewsberry, 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.

 

  John R. Shrewsberry
  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
Timothy Sloan  
Avid Modjtabai