Energy XXI has completed the acquisition of EPL Oil & Gas for approximately $2.3 billion, making Energy XXI the largest publicly traded independent operator on the Gulf of Mexico shelf.

The transaction included the assumption of approximately $805 million of EPL debt, net of cash, payment of approximately $1.02 billion in cash, and approximately 23 million common shares of Energy XXI stock. After closing the transaction, Energy XXI has approximately 93 million shares outstanding (approximately 102 million shares fully diluted).

Tags: Energy XXI