Epl Oil & Gas 10-Q 15 May 15 2015 Q3 Quarterly report Financial data

Document_And_Entity_Informatio

Document And Entity Information	9 Months Ended
	Mar. 31, 2015
Document And Entity Information [Abstract]
Entity Registrant Name	EPL OIL & GAS, INC.
Entity Central Index Key	750199
Document Type	10-Q
Document Period End Date	31-Mar-15
Amendment Flag	FALSE
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	Q3
Current Fiscal Year End Date	-24
Entity Filer Category	Non-accelerated Filer
Entity Common Stock, Shares Outstanding	0
Trading Symbol	EPL

Condensed_Consolidated_Balance

Condensed Consolidated Balance Sheets (USD $)	Mar. 31, 2015	Jun. 30, 2014
In Thousands, unless otherwise specified
Current assets:
Cash and cash equivalents	$95	$5,601
Trade accounts receivable - net	53,992	72,301
Derivative financial instruments	2,906
Deferred tax asset	16,760	24,587
Prepaid expenses	6,135	26,521
Total current assets	79,888	129,010
Property and equipment, under the full cost method of accounting, including $679.1 million and $908.5 million of unevaluated properties not being amortized at March 31, 2015 and June 30, 2014, respectively	2,053,534	3,205,187
Goodwill		329,293
Restricted cash	6,024	6,023
Other assets and debt issuance costs, net of accumulated amortization	1,068	317
Total assets	2,140,514	3,669,830
Current liabilities:
Accounts payable	30,398	92,981
Due to EGC	182,792	4,960
Accrued liabilities	72,397	161,518
Asset retirement obligations	39,831	39,831
Derivative financial instruments		26,440
Current maturities of long-term debt	3,176
Total current liabilities	328,594	325,730
Long-term debt, less current maturities	692,855	1,025,566
Intercompany promissory note	325,000
Asset retirement obligations	214,355	232,864
Deferred tax liabilities	49,308	483,798
Derivative financial instruments		2,140
Other		6
Total Liabilities	1,610,112	2,070,104
Commitments and contingencies (Note 12)
Stockholders' equity:
Preferred stock, par value $0.001 per share. Authorized 1,000,000 shares; no shares issued and outstanding at March 31, 2015 and June 30, 2014
Common stock, par value $0.001 per share. Authorized 75,000,000 shares; 1,000 shares issued and outstanding at March 31, 2015 and June 30, 2014
Additional paid-in capital	1,599,341	1,599,341
Accumulated other comprehensive income (loss)	3,790	-6,252
Retained earnings (accumulated deficit)	-1,072,729	6,637
Total stockholders' equity	530,402	1,599,726
Total liabilities and stockholders' equity	2,140,514	3,669,830
Successor Company [Member]
Current assets:
Cash and cash equivalents	95	5,601
Trade accounts receivable - net	53,992	72,301
Derivative financial instruments	2,906
Deferred tax asset	16,760	24,587
Prepaid expenses	6,135	26,521
Total current assets	79,888	129,010
Property and equipment, under the full cost method of accounting, including $679.1 million and $908.5 million of unevaluated properties not being amortized at March 31, 2015 and June 30, 2014, respectively	2,053,534	3,205,187
Goodwill		329,293
Restricted cash	6,024	6,023
Other assets and debt issuance costs, net of accumulated amortization	1,068	317
Total assets	2,140,514	3,669,830
Current liabilities:
Accounts payable	30,398	92,981
Due to EGC	182,792	4,960
Accrued liabilities	72,397	161,518
Asset retirement obligations	39,831	39,831
Derivative financial instruments		26,440
Current maturities of long-term debt	3,176
Total current liabilities	328,594	325,730
Long-term debt, less current maturities	692,855	1,025,566
Intercompany promissory note	325,000
Asset retirement obligations	214,355	232,864
Deferred tax liabilities	49,308	483,798
Derivative financial instruments		2,140
Other		6
Total Liabilities	1,610,112	2,070,104
Stockholders' equity:
Preferred stock, par value $0.001 per share. Authorized 1,000,000 shares; no shares issued and outstanding at March 31, 2015 and June 30, 2014		0
Common stock, par value $0.001 per share. Authorized 75,000,000 shares; 1,000 shares issued and outstanding at March 31, 2015 and June 30, 2014
Additional paid-in capital	1,599,341	1,599,341
Accumulated other comprehensive income (loss)	3,790	-6,252
Retained earnings (accumulated deficit)	-1,072,729	6,637
Total stockholders' equity	530,402	1,599,726
Total liabilities and stockholders' equity	$2,140,514	$3,669,830

Condensed_Consolidated_Balance1

Condensed Consolidated Balance Sheets (Parenthetical) (USD $)	Mar. 31, 2015	Jun. 30, 2014
In Millions, except Share data, unless otherwise specified
Condensed Consolidated Balance Sheets [Abstract]
Unevaluated properties not being amortized	$679.10	$908.50
Preferred stock, par value	$0.00	$0.00
Preferred stock, shares authorized	1,000,000	1,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$0.00	$0.00
Common stock, shares authorized	75,000,000	75,000,000
Common stock, shares issued	1,000	1,000
Common stock, shares outstanding	1,000	1,000

Condensed_Consolidated_Stateme

Condensed Consolidated Statements of Operations (USD $)	3 Months Ended	9 Months Ended	3 Months Ended	9 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2015	Mar. 31, 2014	Mar. 31, 2014
Costs and expenses:
Impairment of oil and natural gas properties	$430,900	$1,113,700
Accretion of liability for asset retirement obligations		17,788
Other income (expense):
Net income (loss)	-310,517	-1,079,366
Successor Company [Member]
Revenue:
Oil and natural gas	87,253	417,043
Other		932
Total revenue	87,253	417,975
Costs and expenses:
Lease operating	49,571	161,175
Transportation	543	2,317
Impairment of oil and natural gas properties	430,859	1,113,727
Goodwill impairment		329,293
Depreciation, depletion and amortization	73,576	235,868
Accretion of liability for asset retirement obligations	5,509	17,788
Related party cost included in general and administrative expenses	11,998	26,850
Taxes, other than on earnings	3,057	7,529
Other	-3	18
Total costs and expenses	575,110	1,894,565
Income (loss) from operations	-487,857	-1,476,590
Other income (expense):
Interest income	6	10
Interest expense	-12,558	-34,406
Loss on derivative instruments	-579	-635
Total other expense	-13,131	-35,031
Income (loss) before income taxes	-500,988	-1,511,621
Income tax expense (benefit)	-190,471	-432,255
Net income (loss)	-310,517	-1,079,366
Predecessor Company [Member]
Revenue:
Oil and natural gas			158,470	483,229
Other			1,021	2,864
Total revenue			159,491	486,093
Costs and expenses:
Lease operating			41,734	123,203
Transportation			900	3,125
Exploration expenditures and dry hole costs			4,941	23,033
Impairment of oil and natural gas properties			61	827
Depreciation, depletion and amortization			45,645	146,146
Accretion of liability for asset retirement obligations			6,997	23,098
Related party cost included in general and administrative expenses			10,287	23,923
Taxes, other than on earnings			2,472	8,363
Gain on sales of assets				-1,825
Other			-942	27,457
Total costs and expenses			112,095	377,350
Income (loss) from operations			47,396	108,743
Other income (expense):
Interest income			10	82
Interest expense			-13,304	-39,479
Loss on derivative instruments			-13,142	-68,482
Total other expense			-26,436	-107,879
Income (loss) before income taxes			20,960	864
Income tax expense (benefit)			7,629	875
Net income (loss)			$13,331	($11)
Basic income (loss) per share			$0.34	$0
Diluted income (loss) per share			$0.34	$0
Weighted average common shares used in computing income (loss) per share:
Basic			38,714	38,648
Diluted			39,233	38,648

Consolidated_Statement_of_Comp

Consolidated Statement of Comprehensive Loss (USD $)	3 Months Ended	9 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2015
Consolidated Statements of Comprehensive Loss [Abstract]
Net loss	($310,517)	($1,079,366)
Crude Oil and Natural Gas Cash Flow Hedges
Unrealized change in fair value net of ineffective portion	-954	43,220
Effective portion reclassified to earnings during the period	-2,510	-27,586
Total other comprehensive income (loss)	-3,464	15,634
Deferred income tax expense (benefit)	-1,282	5,592
Net other comprehensive income (loss)	-2,182	10,042
Comprehensive loss	($312,699)	($1,069,324)

Condensed_Consolidated_Stateme1

Condensed Consolidated Statements of Cash Flows (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Cash flows from operating activities:
Net loss	($1,079,366)
Adjustments to reconcile net loss to net cash provided by operating activities:
Accretion of liability for asset retirement obligations	17,788
Impairment of oil and natural gas properties	1,113,700
Cash flows provided by (used in) financing activities:
Cash and cash equivalents at beginning of period	5,601
Cash and cash equivalents at end of period	95
Successor Company [Member]
Cash flows from operating activities:
Net loss	-1,079,366
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation, depletion and amortization	235,868
Accretion of liability for asset retirement obligations	17,788
Proceeds from sale of derivative financial instruments	4,559
Unrealized (gain) loss on derivative financial instruments	-1,256
Deferred income taxes	-432,255
Impairment of oil and natural gas properties	1,113,727
Goodwill impairment	329,293
Amortization of premium, discount and deferred financing costs on debt	-7,688
Changes in operating assets and liabilities:
Trade accounts receivable	19,267
Prepaid expenses and other assets	20,702
Accounts payable and accrued expenses	-91,270
Asset retirement obligation settlements	-39,025
Net cash provided by operating activities	90,344
Cash flows provided by (used in) investing activities:
Property acquisitions	-350
Capital expenditures	-271,496
Other property and equipment additions	-58
Net cash used in investing activities	-271,904
Cash flows provided by (used in) financing activities:
Proceeds from (repayments of) indebtedness	-325,000
Proceeds from intercompany promissory note	325,000
Advances from EGC	177,832
Deferred financing costs	-1,089
Other	-689
Net cash provided by financing activities	176,054
Net increase (decrease) in cash and cash equivalents	-5,506
Cash and cash equivalents at beginning of period	5,601
Cash and cash equivalents at end of period	95
Predecessor Company [Member]
Cash flows from operating activities:
Net loss		-11
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation, depletion and amortization		146,146
Accretion of liability for asset retirement obligations		23,098
Unrealized (gain) loss on derivative financial instruments		44,438
Non-cash compensation		6,321
Deferred income taxes		1,025
Exploration expenditures		1,876
Impairment of oil and natural gas properties		827
Amortization of premium, discount and deferred financing costs on debt		4,149
Gain on sales of assets		-1,825
Other		20,905
Changes in operating assets and liabilities:
Trade accounts receivable		-8,433
Prepaid expenses and other assets		11,057
Accounts payable and accrued expenses		50,034
Asset retirement obligation settlements		-41,584
Net cash provided by operating activities		258,023
Cash flows provided by (used in) investing activities:
Decrease in restricted cash		51,757
Property acquisitions		-83,412
Deposit for Nexen Acquisition		-7,040
Capital expenditures		-268,905
Other property and equipment additions		-984
Proceeds from sale of assets		80
Net cash used in investing activities		-308,504
Cash flows provided by (used in) financing activities:
Proceeds from (repayments of) indebtedness		55,000
Deferred financing costs		-206
Purchase of shares into treasury		-4,544
Exercise of stock options		794
Net cash provided by financing activities		51,044
Net increase (decrease) in cash and cash equivalents		563
Cash and cash equivalents at beginning of period		3,885
Cash and cash equivalents at end of period		$4,448

Organization_and_Basis_of_Pres

Organization and Basis of Presentation	9 Months Ended
	Mar. 31, 2015
Organization and Basis of Presentation [Abstract]
Organization and Basis of Presentation	(1) Organization and Basis of Presentation
	Nature of Operations.  EPL Oil & Gas, Inc. was incorporated as a Delaware corporation on January 29, 1998 and is a wholly-owned subsidiary of Energy XXI Gulf Coast, Inc. (“EGC”), a Delaware corporation, which is an indirect wholly-owned subsidiary of Energy XXI Ltd, an exempted company under the laws of Bermuda (“Energy XXI”). References in this Quarterly Report to “we,” “our,” “us,” “the Company” or “EPL”) are to EPL Oil & Gas, Inc. and its wholly-owned subsidiaries. We operate as an independent oil and natural gas exploration and production company with current operations concentrated in the U.S. Gulf of Mexico shelf (the “GoM shelf”) focusing on state and federal waters offshore Louisiana, which we consider our core area.
	Principles of Consolidation and Reporting.  On June 3, 2014, Energy XXI, EGC, Clyde Merger Sub, Inc., a wholly- owned subsidiary of EGC (“Merger Sub”), and EPL, completed the transactions contemplated by the Agreement and Plan of Merger, dated as of March 12, 2014 (as amended, the “Merger Agreement”), by and among Energy XXI, EGC, Merger Sub, and EPL, pursuant to which Merger Sub was merged with and into EPL with EPL continuing as the surviving corporation (the “Merger”). Pursuant to the Merger Agreement, at the effective time of the Merger, the issued and outstanding shares of EPL common stock, par value $0.001 per share, were converted, in the aggregate, into the right to receive merger consideration consisting of approximately 65% in cash and 35% in shares of common stock of Energy XXI, par value $0.005 per share.
	The Merger resulted in EPL becoming an indirect, wholly-owned subsidiary of Energy XXI. Therefore, in the preparation of our financial statements, we have applied “pushdown” accounting, based on guidance from the Securities and Exchange Commission (“SEC”). Pushdown accounting refers to the use of the acquiring entity’s basis of accounting in the preparation of the acquired entity’s financial statements. As a result, our separate financial statements reflect the new basis of accounting recorded by Energy XXI upon the acquisition. As such, in accordance with accounting principles generally accepted in the U.S. (“U.S. GAAP”), due to our new basis of accounting, our financial statements include a black line denoting that our financial statements covering periods prior to the date of the Merger are not comparable to our financial statements as of and subsequent to the date of the Merger. References to the “Predecessor Company” refer to reporting dates of the Company through June 3, 2014, reflecting results of operations and cash flows of the Company prior to the Merger on our historical accounting basis; subsequent thereto, the Company is referred to as the “Successor Company,” reflecting the impact of pushdown accounting and the results of operations and cash flows of the Company subsequent to the Merger.
	Energy XXI follows the “full cost” method of accounting for its oil and gas producing activities, while we had historically followed the “successful efforts” method of accounting. Subsequent to the Merger, we converted our accounting method from successful efforts to the full cost method of accounting to be consistent with Energy XXI’s method of accounting pursuant to SEC guidance, which requires a reporting entity that follows the full cost method to apply that method to all of its operations and to the operations of its subsidiaries. Under U.S. GAAP, a change in accounting method is required to be applied retroactively in order to provide comparable historical period information to users of financial statements. However, due to the new basis of accounting established as a result of the Merger transaction and pushdown accounting, our financial statements are no longer comparable to those of periods prior to the Merger and we have applied the full cost method of accounting on a prospective basis from the date of the Merger.
	The accompanying consolidated financial statements include the accounts of EPL and its wholly-owned subsidiaries and have been prepared in accordance with U.S. GAAP. All significant intercompany accounts and transactions are eliminated in consolidation. Our interests in oil and natural gas exploration and production ventures and partnerships are proportionately consolidated.
	Interim Financial Statements.  The accompanying consolidated financial statements have been prepared in accordance with U.S. GAAP for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. In the opinion of management, all adjustments of a normal and recurring nature considered necessary for a fair presentation have been included in the accompanying consolidated financial statements. The results of operations for the interim period are not necessarily indicative of the results that will be realized for the entire fiscal year. These consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in our 2014 Transition Report.
	Use of Estimates.  The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the dates of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Estimates of proved reserves are key components of our depletion rate for our proved oil and natural gas properties and the full cost ceiling test limitation. Other items subject to estimates and assumptions include fair value estimates used in pushdown accounting and accounting for acquisitions; carrying amounts of property, plant and equipment; goodwill; asset retirement obligations; deferred income taxes; and valuation of derivative financial instruments, among others.    Accordingly, our accounting estimates require exercise of judgment by management in preparing such estimates. While we believe that the estimates and assumptions used in preparation of our consolidated financial statements are appropriate, actual results could differ from those estimates, and any such differences may be material.
	Recent Accounting Pronouncements.  In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update No. 2014-09, Revenue from Contracts with Customers (“ASU 2014-09”). ASU 2014-09 provides a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and will supersede most current revenue recognition guidance. ASU No. 2014-09 is effective for annual periods beginning after December 15, 2016, and interim periods therein, using either of the following transition methods: (i) a full retrospective approach reflecting the application of the standard in each prior reporting period with the option to elect certain practical expedients, or (ii) a retrospective approach with the cumulative effect of initially adopting ASU 2014-09 recognized at the date of adoption (which includes additional footnote disclosures). We are evaluating the impact of the pending adoption of ASU No. 2014-09 on our financial position and results of operations and have not yet determined the method that will be adopted.
	In August 2014, the FASB issued Accounting Standards Update No. 2014-15, Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern (“ASU 2014-15”). ASU 2014-15 requires management to assess an entity’s ability to continue as a going concern and to provide related footnote disclosures in certain circumstances. The standard is effective for annual periods ending after December 15, 2016, and interim periods within annual periods beginning after December 15, 2016, with early adoption permitted. We are currently evaluating the provisions of ASU 2014-15 and assessing the impact, if any, it may have on our consolidated financial statements.
	In April 2015, the FASB issued Accounting Standards Update No. 2015-03, Interest – Imputation of Interest (Subtopic 835-30) (“ASU 2015-03”).  ASU 2015-03 requires that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability. The ASU is effective for public entities for annual periods beginning after December 15, 2015, and interim periods within those annual reporting periods. Early adoption is permitted for financial statements that have not been previously issued.  The guidance will be applied on a retrospective basis. We are currently evaluating the provisions of ASU 2015-03 and assessing the impact it may have on our consolidated financial position, results of operations or cash flows.

Acquisitions

Acquisitions	9 Months Ended
	Mar. 31, 2015
Acquisitions [Abstract]
Acquisitions	(2) Acquisitions
	The South Pass 49 Transfer
	On June 3, 2014, Energy XXI GOM, LLC, transferred an asset package to us consisting of certain shallow-water GoM shelf oil and natural gas interests in our South Pass 49 field (the “SP49 Interests”) for $230.0 million to reflect an economic effective date of June 1, 2014 (the “SP49 Transfer”). Prior to the SP49 Transfer, we owned a 43.5% working interest in certain of these assets, and Energy XXI owned a 56.5% working interest in certain of these assets as well as 100% interest in additional assets in the field. As a result of the SP49 Transfer, we have become the sole working interest owner of the South Pass 49 field. We financed the SP49 Transfer with borrowings of approximately $135 million under our prior credit facility and a $95 million capital contribution from EGC.
	The following table summarizes the assets acquired and liabilities assumed in the transfer.
	(In thousands)
	Oil and natural gas properties	$	231,271
	Asset retirement obligations		-1,086
	Net assets acquired	$	230,185
	The Nexen Acquisition
	On January 15, 2014, we acquired from Nexen Petroleum Offshore U.S.A., Inc. (“Nexen”) a  100% working interest in certain shallow-water central GoM shelf oil and natural gas assets for $70.4 million, subject to customary adjustments to reflect the September 1, 2013, economic effective date (the “Nexen Acquisition”).  The assets we acquired comprise five leases in the Eugene Island 258/259 field (the “EI Interests”).  The Nexen Acquisition was financed with borrowings under our senior secured credit facility with BMO Capital Markets, as lead arranger, and Bank of Montreal, as administrative agent and a lender, and the other lender parties thereto (as amended and restated, the “Prior Senior Credit Facility”).
	The following table summarizes the estimated values of assets acquired and liabilities assumed and reflects final adjustments to purchase price provided for by the purchase and sale agreement of approximately $5.7 million to reflect an economic effective date of September 1, 2013.
	(In thousands)
	Oil and natural gas properties	$	82,897
	Asset retirement obligations		-18,165
	Net assets acquired	$	64,732
	The West Delta 29 Acquisition
	On September 26, 2013, we acquired from W&T Offshore, Inc. (“W&T”) an asset package consisting of certain GoM shelf oil and natural gas interests in the West Delta 29 field (the “WD29 Interests”) for $21.8 million in cash, subject to customary adjustments to reflect an economic effective date of January 1, 2013 (the “WD29 Acquisition”). The WD29 Acquisition was funded with a portion of the proceeds from the sale of certain shallow water GoM shelf oil and natural gas interests located within the non-operated Bay Marchand field in a tax-deferred exchange of properties.
	The following table summarizes the estimated values of assets acquired and liabilities assumed and reflects final adjustments to purchase price provided for by the purchase and sale agreement of approximately $7.1 million to reflect an economic effective date of January 1, 2013.
	(In thousands)
	Oil and natural gas properties	$	16,544
	Asset retirement obligations		-1,398
	Net assets acquired	$	15,146
	We have accounted for the Nexen Acquisition and WD29 Acquisition using the acquisition method of accounting for business combinations, and therefore we have estimated the fair value of the assets acquired and the liabilities assumed as of their respective acquisition dates. In the estimation of fair value, management uses various valuation methods including (i) comparable company analysis, which estimates the value of the acquired properties based on the implied valuations of other similar operations; (ii) comparable asset transaction analysis, which estimates the value of the acquired operations based upon publicly announced transactions of assets with similar characteristics; (iii) comparable merger transaction analysis, which, much like comparable asset transaction analysis, estimates the value of operations based upon publicly announced transactions with similar characteristics, except that merger analysis analyzes public to public merger transactions rather than solely asset transactions; and (iv) discounted cash flow analysis. The fair value is based on subjective estimates and assumptions, which are inherently subject to significant uncertainties which are beyond our control. These assumptions represent Level 3 inputs, as further discussed in Note 9, “Fair Value Measurements.”
	Results of Operations and Pro Forma Information
	Revenues and lease operating expenses attributable to acquired interests and properties were as follows:
		SUCCESSOR COMPANY					PREDECESSOR COMPANY
			Three Months Ended March 31,		Nine Months Ended March 31,		Three Months Ended March 31,		Nine Months Ended March 31,
			2015		2015		2014		2014
	(In thousands)
	SP49 Interests:
	Revenues		$	8,311	$	35,342	$	-	$	-
	Lease operating expenses		$	837	$	5,200	$	-	$	-
	EI Interests:
	Revenues		$	4,711	$	24,703	$	8,380	$	8,380
	Lease operating expenses		$	6,030	$	16,026	$	3,656	$	3,656
	WD29 Interests:
	Revenues		$	1,683	$	8,428	$	3,232	$	6,243
	Lease operating expenses		$	238	$	609	$	59	$	103
	We have determined that the presentation of net income attributable to the acquired interests and properties is impracticable due to the integration of the related operations upon acquisition.
	The following supplemental pro forma information presents consolidated results of operations as if the WD 29 Acquisition, the Nexen Acquisition and the SP49 Transfer had occurred on July 1, 2012.  In addition, this information has been prepared to reflect the Merger and pushdown accounting as if it occurred on July 1, 2012.  The supplemental unaudited pro forma information was derived from a) our historical condensed consolidated statements of operations and b) unaudited revenues and direct operating expenses of the SP49 Interests, WD29 Interests and the EI Interests as derived from the records of the applicable seller provided to us in connection with the acquisitions.    This information does not purport to be indicative of results of operations that would have occurred had the transactions occurred on July 1, 2012, nor is such information indicative of any expected future results of operations.  The most significant pro forma adjustments for the three and nine months ended March 31, 2014, were the following:
		a.		Exclude $5.0 million and $22.0 million, respectively, of exploration costs, impairment expense and gain on sales of assets accounted for under the successful efforts method of accounting to correspond with the full cost method of accounting.
		b.		Increase DD&A expense by $25.0 million and $82.6 million, respectively, to correspond with the full cost method of accounting.
		c.		Decrease interest expense $3.4 million and $10.0 million, respectively, to reflect non-cash premium amortization due to the adjustment to fair value associated with the $510 million face value of our 8.25% senior notes due February 2018 (the “8.25% Senior Notes”).
			PRO FORMA
			Three Months Ended		Nine Months Ended
			March 31,		March 31,
			2014		2014
	(in thousands, except per share data)
	Revenue		$	176,833	$	563,103
	Net income			11,434		2,289
	Basic income per share			0.29		0.06
	Diluted income per share			0.29		0.06

Pushdown_Accounting_and_Goodwi

Pushdown Accounting and Goodwill	9 Months Ended
	Mar. 31, 2015
Pushdown Accounting and Goodwill [Abstract]
Pushdown Accounting and Goodwill	(3) Pushdown Accounting and Goodwill
	As described in Note 1, the Merger resulted in EPL becoming an indirect, wholly-owned subsidiary of Energy XXI. Therefore, we applied “pushdown” accounting, based on guidance from the SEC.  In accordance with the acquisition method of accounting, the purchase price established in the Merger was allocated to the assets acquired and liabilities assumed based on their estimated fair values on the acquisition date. The fair value estimates were based on, but not limited to, quoted market prices, where available; expected future cash flows based on estimated reserve quantities; estimated costs to produce and develop reserves; current replacement cost for similar capacity for certain fixed assets; market rate assumptions for contractual obligations; appropriate discount rates and growth rates; and crude oil and natural gas forward prices.  The excess of the total consideration over the estimated fair value of the amounts initially assigned to the identifiable assets acquired and liabilities assumed was recorded as goodwill. Goodwill recorded in connection with the Merger is not deductible for income tax purposes.
	On April 2, 2013, we sold certain shallow water GoM shelf oil and natural gas interests located within the non-operated Bay Marchand field to Chevron U.S.A. Inc. (“Chevron”) with an effective date of January 1, 2013. In September 2014, we were informed by Chevron that the final settlement statement did not reflect a portion of production in the months of January 2013 and February 2013 totaling to approximately $2.1 million. After review of relevant supporting documents, we agreed to reimburse Chevron approximately $2.1 million.  This resulted in an increase in liabilities assumed by Energy XXI in the Merger and a corresponding increase in goodwill of approximately $2.1 million; accordingly the June 30, 2014 condensed consolidated balance sheet has been retrospectively adjusted to increase the value of goodwill.
	ASC 350, Intangibles—Goodwill and Other (ASC 350), requires that intangible assets with indefinite lives, including goodwill, be evaluated for impairment on an annual basis or more frequently if events occur or circumstances change that could potentially result in impairment.  Our annual goodwill impairment test is performed as of the last day of the fourth quarter each fiscal year.
	Impairment testing for goodwill is performed at the reporting unit level. We have only one reporting unit, which includes all of our oil and natural gas properties. Accordingly, all of our goodwill, as well as all of our other assets and liabilities, are included in our single reporting unit.
	At September 30, 2014, we conducted a qualitative goodwill impairment assessment by examining relevant events and circumstances that could have a negative impact on our goodwill, such as macroeconomic conditions, industry and market conditions, cost factors that have a negative effect on earnings and cash flows, overall financial performance, dispositions and acquisitions, and any other relevant events or circumstances. After assessing the relevant events and circumstances for the qualitative impairment assessment, we determined that performing a quantitative goodwill impairment test was necessary. In the first step of the goodwill impairment test, we determined that the fair value of our reporting unit was less than the carrying amount, including goodwill, primarily due to price deterioration in forward pricing curves for oil and natural gas and an increase in our weighted average cost of capital used to estimate fair value, both factors which adversely impacted the fair value of our estimated reserves.  Therefore, we performed the second step of the goodwill impairment test, which led us to conclude that there was no remaining implied fair value attributable to goodwill.  As a result, we recorded a goodwill impairment charge of $329.3 million to reduce the carrying value of goodwill to zero at September 30, 2014.
	In estimating the fair value of our reporting unit and our estimated reserves, we used an income approach which estimated fair value primarily based on the anticipated cash flows associated with our estimated reserves, discounted using a weighted average cost of capital rate. The estimation of the fair value of our reporting unit includes the use of significant inputs not observable in the market, such as estimates of reserves quantities, the weighted average cost of capital (discount rate), future pricing beyond a certain period and estimated future capital and operating costs.  The use of these unobservable inputs results in the fair value estimate being classified as a Level 3 measurement. Although we believe the assumptions and estimates used in the fair value calculation of our reporting unit are reasonable and appropriate, different assumptions and estimates could materially impact the analysis and resulting conclusions.
	The final valuation of assets acquired and liabilities assumed is not complete and the net adjustments to those values may result in changes to carrying amounts initially assigned to the assets and liabilities based on the initial fair value analysis at the time of the Merger. The principal remaining items to be valued are tax assets and liabilities, and any related valuation allowances, which will be finalized in connection with the filing of related tax returns.

Earnings_Per_Share

Earnings Per Share	9 Months Ended
	Mar. 31, 2015
Earnings Per Share [Abstract]
Earnings Per Share	(4) Earnings Per Share
	The following table sets forth the calculation of basic and diluted weighted average shares outstanding and earnings per share for the indicated periods for the Predecessor Company.
		Three Months Ended		Nine Months Ended
		March 31,		March 31,
		2014		2014
		(in thousands, except per share data)
	Income (numerator):
	Net income (loss)	$	13,331	$	-11
	Net income attributable to participating securities		-166		-
	Net income (loss) attributable to common shares	$	13,165	$	-11
	Weighted average shares (denominator):
	Weighted average shares—basic		38,714		38,648
	Dilutive effect of stock options		519		-
	Weighted average shares—diluted		39,233		38,648
	Basic income (loss) per share	$	0.34	$	0
	Diluted income (loss) per share	$	0.34	$	0
	The following table indicates the number of shares underlying outstanding stock-based awards excluded from the computation of dilutive weighted average shares because their effect was antidilutive for the period indicated.
		Three Months Ended		Nine Months Ended
		March 31,		March 31,
		2014		2014
		(in thousands)		(in thousands)
	Weighted average shares		497		1,281

Property_and_Equipment

Property and Equipment	9 Months Ended
	Mar. 31, 2015
Property and Equipment [Abstract]
Property and Equipment	(5) Property and Equipment
	Under the full cost method of accounting at the end of each financial reporting period, we compare the present value of estimated future net cash flows from proved reserves (computed using the unweighted arithmetic average of the first-day-of-the-month historical price, net of applicable differentials, for each month within the previous 12-month period discounted at 10%, plus the lower of cost or fair market value of unproved properties and excluding cash flows related to estimated abandonment costs) to the net full cost pool of oil and natural gas properties, net of related deferred income taxes. We refer to this comparison as a “ceiling test.” If the net capitalized costs of these oil and natural gas properties exceed the estimated discounted future net cash flows, we are required to write-down the value of our oil and natural gas properties to the value of the discounted cash flows. For the three and nine months ended March 31, 2015, our ceiling test computations resulted in impairment of our oil and natural gas properties of $430.9 million and $1,113.7 million, respectively.
	The ceiling test computation takes into account the impact of our cash flow hedges at the end of each financial reporting period.  For the three and nine months ended March 31, 2015, our ceiling test computations would have resulted in impairment of our oil and natural gas properties of $415.7 million and $1,106.0 million, respectively, had the effects of the cash flow hedges not been considered in the computation.

Asset_Retirement_Obligations

Asset Retirement Obligations	9 Months Ended
	Mar. 31, 2015
Asset Retirement Obligations [Abstract]
Asset Retirement Obligations	(6) Asset Retirement Obligations
	The following table reconciles the beginning and ending aggregate recorded amount of our asset retirement obligations.
		Nine Months Ended
		March 31,
		2015
		(in thousands)
	Beginning of period total	$	272,695
	Accretion expense		17,788
	Liabilities incurred and true-up to liabilities settled		2,728
	Liabilities settled		-39,025
	End of period total		254,186
	Less: Current portion		-39,831
	End of period, noncurrent portion	$	214,355

Indebtedness

Indebtedness	9 Months Ended
	Mar. 31, 2015
Indebtedness [Abstract]
Indebtedness	(7) Indebtedness
	The following table sets forth our indebtedness.
			March 31,		June 30,
			2015		2014
			(In thousands)
	8.25% Senior Notes due 2018		$	542,855	$	550,566
	Revolving Credit Sub-Facility			150,000		475,000
	Intercompany Promissory Note			325,000		-
	Derivative instruments premium financing			3,176		-
	Total debt			1,021,031		1,025,566
	Less: current maturities			-3,176		-
	Total indebtedness including intercompany promissory note		$	1,017,855	$	1,025,566
	Revolving Credit Sub-Facility
	On March 3, 2015, EGC and EPL entered into the Tenth Amendment (the “Tenth Amendment”) to their second amended and restated first lien credit agreement (the “First Lien Credit Agreement” or “Revolving Credit Facility”) in connection with the issuance of $1.45 billion in aggregate principal amount of EGC’s 11.0% senior secured second lien notes due 2020 (the “11.0% Notes”).  Pursuant to the terms of the Tenth Amendment, the lenders under the First Lien Credit Agreement reduced the borrowing base for EGC to $500.0  million, of which such amount $150.0 million is the borrowing base for EPL under the sub-facility established for EPL under the First Lien Credit Agreement (“Revolving Credit Sub-Facility”). The borrowing bases are to remain effective until the next redetermination thereof under the terms of the First Lien Credit Agreement.  In addition to the reduction of the borrowing base, under the Tenth Amendment, the following changes, among others, to the First Lien Credit Agreement were effective:
		·		addition of provisions to permit EGC to make a loan to us in the amount of $325 million using proceeds from the incurrence of additional permitted second lien or third lien indebtedness of EGC and for us to secure such loan by providing liens on substantially all of our assets that are second in priority to the liens of the lenders under the First Lien Credit Agreement pursuant to the terms of an intercreditor agreement and restricting the transfer of EGC’s rights in respect of such loan or making any prepayment or otherwise making modifications of the terms of such arrangements;
		·		change in the definition of the stated maturity date of the First Lien Credit Agreement so that it accelerates from April 9, 2018 (the scheduled date of maturity) to a date 210 days prior to the date of maturity of EGC’s outstanding 9.25% unsecured notes due December 2017 if such notes are not prepaid, redeemed or refinanced prior to such prior date, or to a date 210 days prior to the date of maturity of the 8.25% Senior Notes if such notes are not prepaid, redeemed or refinanced prior to such prior date, or otherwise to a date that is 180 days prior to the date of maturity of any other permitted second lien or permitted third lien indebtedness or certain permitted unsecured indebtedness or any refinancings of such indebtedness if such indebtedness would come due prior to April 9, 2018;
		·		elimination, addition, or modification of certain financial covenants;
		·		setting the applicable commitment fee under the First Lien Credit Agreement at 0.50% and providing that outstanding amounts drawn under the First Lien Credit Agreement bear interest at either the applicable London Interbank Offered Rate (“LIBOR”), plus applicable margins ranging from 2.75% to 3.75%  or an alternate base rate based on the federal funds effective rate plus applicable margins ranging from 1.75% to 2.75%;
		·		increase of the threshold requirement for oil and gas properties required to be secured by mortgages to 90% of the value of EGC and its subsidiaries’ (other than our properties until we become guarantors of the EGC indebtedness under the First Lien Credit Agreement) proved reserves and proved developed producing reserves, but allowing the threshold for our properties (until we become guarantors of the EGC indebtedness under the First Lien Credit Agreement) to remain at 85%;
		·		addition of certain further restrictions on the prepayment and repayment of outstanding note indebtedness of EGC and its subsidiaries, including the prohibition on using proceeds from credit extensions under the First Lien Credit Agreement for any such prepayment or repayment and the requirement that EGC have net liquidity at the time thereof of at least $250 million;
		·		modification to the restricted payment covenant to substantially limit the ability of EGC to make distributions and dividends to parent entities, provided that a distribution of the Grand Isle gathering system and related equipment and other assets is permitted;
		·		qualification on the ability of EGC and its subsidiaries to refinance outstanding indebtedness by requiring that EGC have pro forma net liquidity of $250 million at the time of such refinancing; and
		·		modification of the asset disposition covenant to require lender consent for any such disposition that would have the effect of reducing the borrowing base by more than $5 million in the aggregate; provided, however, that such provision is expressly deemed not to be applicable to certain sales relating to the Grand Isle gathering system that are the subject of current marketing efforts of EGC, as long as EGC and its subsidiaries meet certain obligations, such as, among others, maintaining the proceeds from such sales in accounts that are subject to the liens of the lenders.
	The First Lien Credit Agreement, as amended, requires that EPL and EGC maintain certain financial covenants separately for so long as the 8.25% Senior Notes remain outstanding.  We are currently subject to the following financial covenants:  (a) a consolidated maximum first lien leverage ratio of 1.25 to 1.0 and (b) a consolidated maximum secured leverage ratio of no more than 3.75 to 1.0.  If the 8.25% Senior Note are no longer outstanding and certain other conditions are met, EGC will be subject to the following financial covenants on a consolidated basis:  (a) a consolidated maximum net first lien leverage ratio of 1.25 to 1.0, (b) a consolidated maximum net secured leverage ratio of no more than 3.75 to 1.0, provided that if the 8.25% Senior Notes are refinanced with new secured debt, the liens of which are junior in priority to the Revolving Credit Facility indebtedness, then the maximum ratio permitted would be 4.25 to 1.0, and (c) a minimum current ratio of no less than 1.0 to 1.0.
	Our Revolving Credit Sub-Facility restricts our ability to obtain additional financing, make investments, lease equipment, sell assets and engage in business combinations. As of March 31, 2015,  EPL and EGC were in compliance with all financial covenants under the First Lien Credit Agreement, and EPL had $150.0 million in borrowings under the Revolving Credit Sub-Facility.  As of March 31, 2015, we have fully utilized amounts available under our Revolving Credit Sub-Facility.
	For additional information regarding our Revolving Credit Sub-Facility, see Note 8, “Indebtedness,” of our 2014 Transition Report.
	Promissory Note
	On March 12, 2015, in connection with EGC’s issuance of the 11.0% Notes,  we entered into a $325.0 million secured second lien promissory note between us, as the maker, and EGC, as the payee (the “Promissory Note”). Proceeds from the Promissory Note were used to repay a like amount of the outstanding borrowings under the Revolving Credit Sub-Facility. The Promissory Note bears interest at an annual rate of 10%, has a maturity date of October 9, 2018, and is secured by a second priority lien on certain of our assets that secure the obligations under the First Lien Credit Agreement. EGC may release the collateral securing the Promissory Note at any time.    The note has not been, and will not be, registered under the Securities Act of 1933, as amended or the securities laws of any other jurisdiction.  We have an option to prepay this note in whole or in part at any time, without penalty or premium.  The note bears interest from the date of issuance with interest due quarterly, in arrears, on January 5th, April 5th, July 5th, and October 5th, beginning September 5, 2015.
	8.25% Senior Notes
	The 8.25% Senior Notes consist of $510.0 million in aggregate principal amount issued under an Indenture dated February 14, 2011 (as amended and supplemented, the “2011 Indenture”). The 8.25% Senior Notes bear interest from the date of their issuance at an annual rate of 8.25% with interest due semi-annually, in arrears, on February 15th and August 15th of each year. The 8.25% Senior Notes are fully and unconditionally guaranteed, jointly and severally, on an unsecured senior basis initially by each of our existing direct and indirect domestic subsidiaries (other than immaterial subsidiaries). The 8.25% Senior Notes will mature on February 15, 2018.  The effective interest rate on the 8.25% Senior Notes is approximately 5.8%, reflecting the fair value adjustment recorded in pushdown accounting.  For additional information regarding the 8.25% Senior Notes, see Note 8, “Indebtedness,” of our 2014 Transition Report.
	Derivative Instruments Premium Financing
	We finance premiums on derivative instruments that we purchase with our hedge counterparties. Substantially all of our hedge transactions are with lenders under the Revolving Credit Sub-Facility. Derivative instruments premium financing is accounted for as debt and this indebtedness is pari passu with borrowings under the Revolving Credit Sub-Facility. The derivative instruments premium financing is structured to mature when the derivative instrument settles so that we realize the value, net of derivative instrument premium financing. As of March 31, 2015, our outstanding derivative instruments premium financing discounted at our approximate borrowing cost of 2.5% per annum totaled $3.2 million.

Derivative_Financial_Instrumen

Derivative Financial Instruments	9 Months Ended
	Mar. 31, 2015
Derivative Financial Instruments [Abstract]
Derivative Instruments and Hedging Activities	(8) Derivative Financial Instruments
	We enter into derivative instruments to reduce exposure to fluctuations in the price of oil and natural gas for a portion of our production. Our fixed-price swaps fix the sales price for a limited amount of our production and, for the contracted volumes, eliminate our ability to benefit from increases in the sales price of the production. Derivative instruments are carried at their fair value on the consolidated balance sheets as Derivative financial instruments. Prior to the Merger, we did not designate derivative instruments as hedges, and all gains and losses due to changes in fair market value and contract settlements were recorded in Loss on derivative instruments in Other income (expense) in the condensed consolidated statements of operations.
	Subsequent to the Merger, we designate a majority of our derivative financial instruments as cash flow hedges. No components of the cash flow hedging instruments are excluded from the assessment of hedge ineffectiveness. Any gains or losses resulting from the change in fair value from hedging transactions that are determined to be ineffective are recorded as a loss (gain) on derivative financial instruments, whereas gains and losses from the settlement of cash flow hedging contracts are recorded in crude oil and natural gas revenue in the same period during which the hedged transactions are settled. See Note 9, “Fair Value Measurements” for information regarding fair values of our derivative instruments.
	In connection with the Merger, Energy XXI assumed our existing hedges with contract terms beginning in June 2014 through December 2015. Our oil contracts were primarily swaps and benchmarked to Argus-LLS and Brent.    During the quarter ended December 31, 2014, we monetized all the calendar 2015 Brent swap contracts, keeping one natural gas contract intact, and received proceeds of $4.6 million.  These monetized amounts received along with a $2.9 million positive change in fair value of the monetized contracts have been recorded in stockholders’ equity as part of accumulated other comprehensive income (“AOCI”) and will be recognized in income over the contract life of the underlying hedge contracts through December 31, 2015.  During the three months ended March 31, 2015, we recognized approximately $1.9 million of monetized amounts into revenues.  As of March 31, 2015, we had $5.7 million of monetized amounts remaining in AOCI of which approximately $1.9 million will be recognized in income during the quarters ending June 30, 2015, September 30, 2015, and December 31, 2015.
	During January 2015, we entered into Argus-LLS three-way collars on 7,000  barrels of our estimated oil production per day from February through December 2015.
	The following table sets forth our derivative instrument outstanding as of March 31, 2015.
	Oil Contracts
		Type									Weighted Average Contract Price
		of						Volume
	Remaining Contract Term	Contract			Index			(MMBtu)			Sub Floor			Floor		Ceiling
	April 2015 - December 2015		Three-Way Collars			ARGUS-LLS			1,925		$	32.86		$	45.00	$	75.71
	Gas Contracts
		Type									Swap
		of						Volume			Fixed Price
	Remaining Contract Term	Contract			Index			(MMBtu)			($/Mmbtu)
	April 2015 - December 2015		Fixed Price Swaps			NYMEX-HH			1,183		$	4.31
	For the three and nine months ended March 31, 2015, we reclassified from AOCI a gain of approximately $2.5 million and $27.6 million to oil and natural gas revenue, respectively. The amount expected to be reclassified from AOCI to income in the next 12 months is a gain of $6.0 million ($3.8 million net of tax) on our commodity hedges. The estimated and actual amounts are likely to vary significantly due to changes in market conditions.
	The effect of derivative financial instruments on our condensed consolidated statements of operations was as follows:
			SUCCESSOR							PREDECESSOR
			COMPANY							COMPANY
			Three Months Ended			Nine Months Ended				Three Months Ended			Nine Months Ended
			March 31,			March 31,				March 31,			March 31,
			2015			2015				2014			2014
	Location of (Gain) Loss in Statement of Operations
	Cash Settlements
	Oil sales		$	-1,170		$	-25,578			$	-		$	-
	Natural gas sales			-660			-1,328				-			-
	Total cash settlements			-1,830			-26,906				-			-
	Commodity Derivative Instruments designated as
	hedging instruments:
	Loss on derivative financial instruments
	Ineffective portion of commodity derivative instruments			579			579				-			-
	Commodity Derivative Instruments not designated as
	hedging instruments:
	Loss on derivative financial instruments
	Realized mark to market loss			-			55				-3,746			3,409
	Unrealized mark to market loss			-			1				16,888			65,073
	Total loss on derivative financial instruments			579			635				13,142			68,482
	Total (gain) loss		$	-1,251		$	-26,271			$	13,142		$	68,482
	We monitor the creditworthiness of our counterparties. However, we are not able to predict sudden changes in counterparties’ creditworthiness. In addition, even if such changes are not sudden, we may be limited in our ability to mitigate an increase in counterparty credit risk. Possible actions would be to transfer our position to another counterparty or request a voluntary termination of the derivative contracts resulting in a cash settlement. Should one of these financial counterparties not perform, we may not realize the benefit of some of our derivative instruments under lower commodity prices and could incur a loss. At March 31, 2015, we had no deposits for collateral with our counterparties.

Fair_Value_Measurements

Fair Value Measurements	9 Months Ended
	Mar. 31, 2015
Fair Value Measurements [Abstract]
Fair Value Measurements	(9) Fair Value Measurements
	Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. ASC Topic 820, “Fair Value Measurements and Disclosures,” establishes a fair value hierarchy with three levels based on the reliability of the inputs used to determine fair value. These levels include: Level 1, defined as inputs such as unadjusted quoted prices in active markets for identical assets and liabilities; Level 2, defined as inputs other than quoted prices in active markets that are either directly or indirectly observable; and Level 3, defined as unobservable inputs for use when little or no market data exists, therefore requiring an entity to develop its own assumptions.
	As of March 31, 2015 and June 30, 2014, we held certain financial assets and liabilities that are required to be measured at fair value on a recurring basis, primarily our derivative financial instruments. We estimate the fair values of these instruments based on published forward commodity price curves, market volatility and contract terms as of the date of the estimate. The discount rate used in the discounted cash flow projections is based on published LIBOR rates. The fair values of derivative financial instruments in an asset position include a measure of counterparty nonperformance risk, and the fair values of derivative financial instruments in a liability position include a measure of our own nonperformance risk, each based on the current published issuer-weighted corporate default rates. These price inputs are quoted prices for assets and liabilities similar to those held by us and meet the definition of Level 2 inputs within the fair value hierarchy.
	The following table sets forth our financial assets and liabilities that are accounted for at fair value on a recurring basis.
		March 31,		June 30,
		2015		2014
		(in thousands)
	Assets
	Derivative financial instruments designated as hedging instruments
	Current	$	5,981	$	-
	Noncurrent		-		-
	Total gross derivative financial instruments subject to enforceable netting agreement		5,981		-
	Gross amounts offset in balance sheet		-3,075		-
	Net amounts presented in balance sheet	$	2,906	$	-
	Liabilities
	Derivative financial instruments designated as hedging instruments
	Current	$	3,075	$	26,440
	Noncurrent		-		2,140
	Total gross derivative financial instruments subject to enforceable netting agreement		3,075		28,580
	Gross amounts offset in balance sheet		-3,075		-
	Net amounts presented in balance sheet	$	-	$	28,580
	The carrying values reported in the condensed consolidated balance sheet for cash and cash equivalents, accounts receivable and accounts payable approximate fair value due to the short term maturities of these instruments. The fair value for the 8.25% Senior Notes is estimated based on quoted prices in a market that is not an active market, which are Level 2 inputs within the fair value hierarchy. The carrying value of the Revolving Credit Sub-Facility approximates its fair value because the interest rate is variable and reflective of market rates, which are Level 2 inputs within the fair value hierarchy.
	The following table sets forth the carrying values and estimated fair values of our long-term indebtedness.
		31-Mar-15				30-Jun-14
		(In thousands)
			Carrying Value		Estimated Fair Value		Carrying Value		Estimated Fair Value
	8.25% Senior Notes	$	542,855	$	379,760	$	550,566	$	545,700
	Promissory Note		325,000		325,000		-		-
	Revolving Credit Sub-Facility		150,000		150,000		475,000		475,000
	Total	$	1,017,855	$	854,760	$	1,025,566	$	1,020,700
	The 8.25% Senior Notes contain an option to redeem up to 35% of the aggregate principal amount of the notes outstanding with the net cash proceeds of certain equity offerings.  This option is considered an embedded derivative and is classified as a Level 3 financial instrument for which the estimated fair value at March 31, 2015 is not material.
	As addressed in Note 2, “Acquisitions,” we apply fair value concepts in estimating and allocating the fair value of assets acquired and liabilities assumed in acquisitions in accordance with acquisition accounting for business combinations. The inputs to the estimated fair values of assets acquired and liabilities assumed are described in Note 2.

Income_Taxes

Income Taxes	9 Months Ended
	Mar. 31, 2015
Income Taxes [Abstract]
Income Taxes
	(10) Income Taxes
	We are a (U.S.) Delaware company and, as a result of the Merger, a direct subsidiary of EGC. We are a member of a consolidated group of corporations for U.S. federal income tax purposes where Energy XXI, Inc., (the “U.S. Parent”) is the parent entity. Energy XXI indirectly owns 100% of U.S. Parent, but is not a member of the U.S. consolidated group. We operate through our various subsidiaries in the United States as they apply to our current ownership structure. ASC Topic 740 provides that the income tax amounts presented in the separate financial statements of a subsidiary entity that is a member of a consolidated group should be based upon a reasonable allocation of the income tax amounts of that group. We allocate income tax expense/benefit and deferred tax items between affiliates as if each affiliate prepared a separate U.S. income tax return for the reporting period. We have recorded no income tax-related intercompany balances with affiliates.
	In each interim period, we estimate the annual effective tax rate we expect to be applicable  for the current fiscal year and apply it to interim periods. However, during the first quarter of fiscal year 2015, we recorded a goodwill impairment charge of $329 million (see Note 3 – Pushdown Accounting and Goodwill).  Currently, our estimated annual effective tax/(benefit) rate is approximately (36.2)% excluding the effect of the goodwill impairment charge.  For purposes of computing our interim provision (benefit) for income taxes, the goodwill impairment charge was treated as a discrete item in the quarter in which it occurred.  Our actual effective tax/(benefit) rates for the three and nine months ended March 31, 2015 were (38.0)% and (28.6)%, respectively.  The variance from the U.S. statutory rate of 35% is primarily due to two elements:  (i) the impairment of goodwill during the first quarter of fiscal year 2015 and (ii) an increase to the statutory rate due to the presence of common permanent difference items (such as non-deductible compensation, meals and entertainment expenses and state income taxes).
	We have not recorded a valuation allowance against net deferred tax assets to date as we believe that, more-likely-than-not, at March 31, 2015, we will generate sufficient future taxable income from the reversal of existing temporary differences (primarily related to the excess of book carrying value of oil and natural gas properties) over their tax bases; however, with continued weakness in commodity pricing, this judgment could change as early as the fourth quarter of fiscal 2015.

Related_Party_Transactions

Related Party Transactions	9 Months Ended
	Mar. 31, 2015
Related Party Transactions [Abstract]
Related Party Transactions	(11) Related Party Transactions
	On June 3, 2014, we entered an intercompany services and cost allocation agreement with Energy XXI Services, LLC (“Energy Services”), an affiliate of the Company.  Services provided by Energy Services include management, legal, accounting, tax, corporate secretarial, human resources, employee benefit administration, office space and other furniture and equipment management, and other support services.  Cost of these services for the three months ended March 31, 2015 was approximately $14.0 million, of which approximately $10.4 million is included in general and administrative expense.  Cost of these services for the nine months ended March 31, 2015 was approximately $23.8 million, of which approximately $19.5 million is included in general and administrative expense.
	On March 12, 2015, in connection with EGC’s issuance of the 11.0% Notes, we entered into the Promissory Note with a face value of $325 million.    The Promissory Note bears interest at an annual rate of 10%, has a maturity date of October 9, 2018, and is secured by a second priority lien on certain of our assets that secure the obligations under the First Lien Credit Agreement.    Interest expense on the Promissory Note amounted to approximately $1.6 million for the three months ended March 31, 2015.  See Note 7, “Indebtedness” for more information regarding the Promissory Note.

Commitments_and_Contingencies

Commitments and Contingencies	9 Months Ended
	Mar. 31, 2015
Commitments and Contingencies [Abstract]
Commitments and Contingencies	(12) Commitments and Contingencies
	Litigation.   We are a defendant in a number of lawsuits and are involved in governmental and regulatory proceedings, all of which arose in the ordinary course of business, including, but not limited to, personal injury claims, royalty claims, contract claims, and environmental claims, including claims involving assets owned by acquired companies. While the ultimate outcome and impact on us cannot be predicted with certainty, management believes that the resolution of pending proceedings will not have a material adverse effect on our consolidated financial position, results of operations, or cash flows.
	In March and April, 2014, three alleged stockholders (the “Plaintiffs”) filed three separate class action lawsuits in the Court of Chancery of the State of Delaware on behalf of our stockholders against our Company, our directors, Energy XXI, EGC, and Clyde Merger Sub, Inc., a Delaware corporation and wholly-owned subsidiary of EGC (“Merger Sub” and collectively, the “defendants”). The Court of Chancery of the State of Delaware consolidated these lawsuits on May 5, 2014. The consolidated lawsuit is styled In re EPL Oil & Gas Inc. Shareholders Litigation, C.A. No. 9460-VCN, in the Court of Chancery of the State of Delaware (the “lawsuit”).
	Plaintiffs alleged a variety of causes of action challenging the Agreement and Plan of Merger between Energy XXI, OpCo, Merger Sub, and EPL, which provided for the acquisition of EPL by Energy XXI. Plaintiffs alleged that (a) our directors allegedly breached fiduciary duties in connection with the Merger and (b) we along with Energy XXI, OpCo, and Merger Sub allegedly aided and abetted in these alleged breaches of fiduciary duties. Plaintiffs sought to have the Merger Agreement rescinded and also sought damages and attorneys’ fees.
	On January 16, 2015, Plaintiffs filed a voluntary notice of dismissal.  On January 20, 2015, the Court of Chancery of the State of Delaware entered an order dismissing the lawsuit in its entirety without prejudice.
	Other.    We maintain restricted escrow funds in a trust for future abandonment costs at our East Bay property. The trust was originally funded with $15.0 million and, with accumulated interest, increased to $16.7 million at December 31, 2008. We may draw from the trust upon completion of qualifying abandonment activities at our East Bay field. At March 31, 2015, we had $6.0 million remaining in restricted escrow funds for decommissioning work in our East Bay field, which will remain restricted until substantially all required decommissioning in the East Bay field is complete. Amounts on deposit in the trust account are reflected in Restricted cash on our condensed consolidated balance sheets.
	We record liabilities when we deliver production that is in excess of our interest in certain properties. In addition to these imbalances, we may, from time to time, be allocated cash sales proceeds in excess of amounts that we estimate are due to us for our interest in production. These allocations may be subject to further review, may require more information to resolve or may be in dispute.
	We and our oil and gas joint interest owners are subject to periodic audits of the joint interest accounts for leases in which we participate and/or operate.  As a result of these joint interest audits, amounts payable or receivable by us for costs incurred or revenue distributed by the operator or by us on a lease may be adjusted, resulting in adjustments, increases or decreases, to our net costs or revenues and the related cash flows. Such adjustments may be material. When they occur, these adjustments are recorded in the current period, which generally is one or more years after the related cost or revenue was incurred or recognized by the joint account.
	Subsequent Event.  In April 2015, we received letters from the Bureau of Ocean Energy Management (the “BOEM”) stating that we no longer qualify for waiver of certain supplemental bonding requirements for potential offshore decommissioning, plugging and abandonment liabilities. The letters notified us that we must provide supplemental financial assurance and/or bonding for our offshore oil and gas leases, rights-of-way, and rights-of-use and easements that require supplemental bonding. The BOEM has indicated the amount of such required supplemental bonding totals approximately $566.5  million, which amount is currently being negotiated by us.  We are currently evaluating the impact of these BOEM letters on our future consolidated financial position, results of operations and cash flow.

Supplemental_Condensed_Consoli

Supplemental Condensed Consolidating Financial Information	9 Months Ended
	Mar. 31, 2015
Supplemental Condensed Consolidating Financial Information [Abstract]
Supplemental Condensed Consolidating Financial Information	(13) Supplemental Condensed Consolidating Financial Information
	In connection with issuing the 8.25% Senior Notes described in Note 7,  “Indebtedness,” all of our existing direct and indirect domestic subsidiaries (other than immaterial subsidiaries) each of which is 100% owned by EPL (the “Guarantor Subsidiaries”), jointly and severally guaranteed the payment obligations under our 8.25% Senior Notes. The guarantees are full and unconditional, as those terms are used in Rule 3-10 of Regulation S-X, except that a Guarantor Subsidiary can be automatically released and relieved of its obligations under certain customary circumstances contained in the 2011 Indenture.  So long as other applicable provisions of the indenture are adhered to, these customary circumstances include: when a Guarantor Subsidiary is declared “unrestricted” for covenant purposes, when the requirements for legal defeasance or covenant defeasance or to discharge the indenture have been satisfied, or when the Guarantor Subsidiary is sold or sells all of its assets. The following supplemental financial information sets forth, on a consolidating basis, the balance sheets, statements of operations and cash flow information for EPL (Parent Company Only) and for the Guarantor Subsidiaries. We have not presented separate financial statements and other disclosures concerning the Guarantor Subsidiaries, or for any individual Guarantor Subsidiary, because management has determined that such information is not material to investors.
	The supplemental condensed consolidating financial information has been prepared pursuant to the rules and regulations for condensed financial information and does not include all disclosures included in annual financial statements.  The principal eliminating entries eliminate investments in subsidiaries and intercompany balances.
	SUCCESSOR COMPANY
	Supplemental Condensed Consolidating Balance Sheet
	As of March 31, 2015
	(UNAUDITED)
		Parent
		Company		Guarantor		Reclassifications
		Only		Subsidiaries		& Eliminations		Consolidated
		(In thousands)
	ASSETS
	Current assets:
	Cash and cash equivalents	$	95	$	-	$	-	$	95
	Trade accounts receivable - net		54,029		-		-37		53,992
	Intercompany receivables		-		20,213		-20,213		-
	Derivative financial instruments		2,906		-		-		2,906
	Deferred tax asset		16,760		-		-		16,760
	Prepaid expenses		6,135		-		-		6,135
	Total current assets		79,925		20,213		-20,250		79,888
	Net property and equipment		1,893,726		159,808		-		2,053,534
	Investment in affiliates		129,065		-		-129,065		-
	Restricted cash		6,024		-		-		6,024
	Other assets		1,069		89		-90		1,068
	Total assets	$	2,109,809	$	180,110	$	-149,405	$	2,140,514
	LIABILITIES AND STOCKHOLDER'S EQUITY
	Current liabilities:
	Accounts payable	$	30,011	$	424	$	-37	$	30,398
	Due to EGC		182,792		-		-		182,792
	Intercompany payables		20,213		-		-20,213		-
	Accrued liabilities		72,487		-		-90		72,397
	Asset retirement obligations		34,627		5,204		-		39,831
	Current maturities of long-term debt		3,176		-		-		3,176
	Total current liabilities		343,306		5,628		-20,340		328,594
	Long-term debt		692,855		-		-		692,855
	Intercompany promissory note		325,000		-		-		325,000
	Asset retirement obligations		172,705		41,650		-		214,355
	Deferred tax liabilities		45,541		3,767		-		49,308
	Total liabilities		1,579,407		51,045		-20,340		1,610,112
	Stockholder's equity:
	Preferred stock		-		-		-		-
	Common stock		-		-		-		-
	Additional paid-in capital		1,599,341		85,479		-85,479		1,599,341
	Accumulated other comprehensive income		3,790		-		-		3,790
	Retained earnings (accumulated deficit)		-1,072,729		43,586		-43,586		-1,072,729
	Total stockholder's equity		530,402		129,065		-129,065		530,402
	Total liabilities and stockholder's equity	$	2,109,809	$	180,110	$	-149,405	$	2,140,514
	SUCCESSOR COMPANY
	Supplemental Condensed Consolidating Balance Sheet
	As of June 30, 2014
	(AUDITED)
		Parent
		Company		Guarantor		Reclassifications
		Only		Subsidiaries		& Eliminations		Consolidated
		(In thousands)
	ASSETS
	Current assets:
	Cash and cash equivalents	$	5,601	$	-	$	-	$	5,601
	Trade accounts receivable - net		72,156		145		-		72,301
	Intercompany receivables		-		26,311		-26,311		-
	Deferred tax asset		24,587		-		-		24,587
	Prepaid expenses		26,521		-		-		26,521
	Total current assets		128,865		26,456		-26,311		129,010
	Net property and equipment		3,034,805		170,382		-		3,205,187
Investment in affiliates		126,638		-		-126,638		-
Goodwill		329,293		-		-		329,293
Restricted cash		6,023		-		-		6,023
Other assets		226		91		-		317
Total assets	$	3,625,850	$	196,929	$	-152,949	$	3,669,830
LIABILITIES AND STOCKHOLDER'S EQUITY
Current liabilities:
Accounts payable	$	92,325	$	656	$	-	$	92,981
Due to EGC		4,960		-		-		4,960
Intercompany payables		26,311		-		-26,311		-
Accrued liabilities		161,503		15		-		161,518
Asset retirement obligations		33,357		6,474		-		39,831
Derivative financial instruments		26,440		-		-		26,440
Total current liabilities		344,896		7,145		-26,311		325,730
Long-term debt		1,025,566		-		-		1,025,566
Asset retirement obligations		193,908		38,956		-		232,864
Deferred tax liabilities		459,608		24,190		-		483,798
Derivative financial instruments		2,140		-		-		2,140
Other		6		-		-		6
Total liabilities		2,026,124		70,291		-26,311		2,070,104
Stockholder's equity:
Preferred stock		-		-		-		-
Common stock		-		-		-		-
Additional paid-in capital		1,599,341		85,479		-85,479		1,599,341
Accumulated other comprehensive loss		-6,252		-		-		-6,252
Retained earnings		6,637		41,159		-41,159		6,637
Total stockholder's equity		1,599,726		126,638		-126,638		1,599,726
Total liabilities and stockholder's equity	$	3,625,850	$	196,929	$	-152,949	$	3,669,830
SUCCESSOR COMPANY
Supplemental Condensed Consolidating Statement of Operations
Three Months Ended March 31, 2015
(UNAUDITED)
	Parent
	Company		Guarantor		Reclassifications
	Only		Subsidiaries		& Eliminations		Consolidated
	(In thousands)
Revenue:
Oil and natural gas	$	79,065	$	8,188	$	-	$	87,253
Total revenue		79,065		8,188		-		87,253
Costs and expenses:
Lease operating		49,552		19		-		49,571
Transportation		544		-1		-		543
Impairment of oil and natural gas properties		430,859		-		-		430,859
Depreciation, depletion and  amortization		68,541		5,035		-		73,576
Accretion of liability for asset retirement obligations		4,328		1,181		-		5,509
General and administrative		11,998		-		-		11,998
Taxes, other than on earnings		2,193		864		-		3,057
Other		-3		-		-		-3
Total costs and expenses		568,012		7,098		-		575,110
Income (loss) from operations		-488,947		1,090		-		-487,857
Other income (expense):
Interest income		6		-		-		6
Interest expense		-12,558		-		-		-12,558
Loss on derivative instruments		-579		-		-		-579
Income from equity investments		716		-		-716		-
Total other expense		-12,415		-		-716		-13,131
Income (loss before provision for income taxes )		-501,362		1,090		-716		-500,988
Income tax expense (benefit)		-190,845		374		-		-190,471
Net income (loss)	$	-310,517	$	716	$	-716	$	-310,517
Comprehensive income (loss)
Net income (loss)		-310,517		716		-716		-310,517
Other comprehensive loss		-2,182		-		-		-2,182
Comprehensive income (loss)	$	-312,699	$	716	$	-716	$	-312,699
SUCCESSOR COMPANY
Supplemental Condensed Consolidating Statement of Operations
Nine Months Ended March 31, 2015
(UNAUDITED)
	Parent
	Company		Guarantor		Reclassifications
	Only		Subsidiaries		& Eliminations		Consolidated
	(In thousands)
Revenue:
Oil and natural gas	$	379,502	$	37,541	$	-	$	417,043
Other		778		154		-		932
Total revenue		380,280		37,695		-		417,975
Costs and expenses:
Lease operating		152,170		9,005		-		161,175
Transportation		2,316		1		-		2,317
Impairment of oil and natural gas properties		1,113,727		-		-		1,113,727
Goodwill impairment		329,293		-		-		329,293
Depreciation, depletion and  amortization		218,928		16,940		-		235,868
Accretion of liability for asset retirement obligations		14,580		3,208		-		17,788
General and administrative		26,850		-		-		26,850
Taxes, other than on earnings		2,792		4,737		-		7,529
Other		18		-		-		18
Total costs and expenses		1,860,674		33,891		-		1,894,565
Income (loss) from operations		-1,480,394		3,804		-		-1,476,590
Other income (expense):
Interest income		10		-		-		10
Interest expense		-34,406		-		-		-34,406
Loss on derivative instruments		-635		-		-		-635
Income from equity investments		2,427		-		-2,427		-
Total other expense		-32,604		-		-2,427		-35,031
Income (loss) before provision for income taxes		-1,512,998		3,804		-2,427		-1,511,621
Income tax expense (benefit)		-433,632		1,377		-		-432,255
Net income (loss)	$	-1,079,366	$	2,427	$	-2,427	$	-1,079,366
Comprehensive income (loss)
Net income (loss)		-1,079,366		2,427		-2,427		-1,079,366
Other comprehensive income		10,042		-		-		10,042
Comprehensive income (loss)	$	-1,069,324	$	2,427	$	-2,427	$	-1,069,324
PREDECESSOR COMPANY
Supplemental Condensed Consolidating Statement of Operations
Three Months Ended March 31, 2014
(UNAUDITED)
	Parent
	Company		Guarantor		Reclassifications
	Only		Subsidiaries		& Eliminations		Consolidated
	(In thousands)
Revenue:
Oil and natural gas	$	141,812	$	16,658	$	-	$	158,470
Other		264		757		-		1,021
Total revenue		142,076		17,415		-		159,491
Costs and expenses:
Lease operating		35,736		5,998		-		41,734
Transportation		899		1		-		900
Exploration expenditures and dry hole costs		4,941		-		-		4,941
Impairment of oil and natural gas properties		61		-		-		61
Depreciation, depletion and  amortization		40,696		4,949		-		45,645
Accretion of liability for asset retirement obligations		5,788		1,209		-		6,997
General and administrative		10,287		-		-		10,287
Taxes, other than on earnings		177		2,295		-		2,472
Other		-942		-		-		-942
Total costs and expenses		97,643		14,452		-		112,095
Income from operations		44,433		2,963		-		47,396
Other income (expense):
Interest income		10		-		-		10
Interest expense		-13,304		-		-		-13,304
Loss on derivative instruments		-13,142		-		-		-13,142
Income from equity investments		1,884		-		-1,884		-
Total other expense		-24,552		-		-1,884		-26,436
Income before provision for income taxes		19,881		2,963		-1,884		20,960
Income tax expense		6,550		1,079		-		7,629
Net income	$	13,331	$	1,884	$	-1,884	$	13,331
PREDECESSOR COMPANY
Supplemental Condensed Consolidating Statement of Operations
Nine Months Ended March 31, 2014
(UNAUDITED)
	Parent
	Company		Guarantor		Reclassifications
	Only		Subsidiaries		& Eliminations		Consolidated
	(In thousands)
Revenue:
Oil and natural gas	$	424,970	$	58,259	$	-	$	483,229
Other		543		2,321		-		2,864
Total revenue		425,513		60,580		-		486,093
Costs and expenses:
Lease operating		105,136		18,067		-		123,203
Transportation		3,123		2		-		3,125
Exploration expenditures and dry hole costs		22,415		618		-		23,033
Impairment of oil and natural gas properties		827		-		-		827
Depreciation, depletion and  amortization		129,764		16,382		-		146,146
Accretion of liability for asset retirement obligations		19,033		4,065		-		23,098
General and administrative		23,923		-		-		23,923
Taxes, other than on earnings		638		7,725		-		8,363
Gain on sale of assets		-1,825		-		-		-1,825
Other		27,330		127		-		27,457
Total costs and expenses		330,364		46,986		-		377,350
Income from operations		95,149		13,594		-		108,743
Other income (expense):
Interest income		82		-		-		82
Interest expense		-39,479		-		-		-39,479
Loss on derivative instruments		-68,482		-		-		-68,482
Income from equity investments		8,633		-		-8,633		-
Total other expense		-99,246		-		-8,633		-107,879
Income (loss) before provision for income taxes		-4,097		13,594		-8,633		864
Income tax expense (benefit)		-4,086		4,961		-		875
Net income (loss)	$	-11	$	8,633	$	-8,633	$	-11
SUCCESSOR COMPANY
Supplemental Condensed Consolidating Statement of Cash Flows
Nine Months Ended March 31, 2015
(UNAUDITED)
	Parent
	Company		Guarantor		Reclassifications
	Only		Subsidiaries		& Eliminations		Consolidated
	(In thousands)
Net cash provided by operating activities	$	83,979	$	6,365	$	-	$	90,344
Cash flows used in investing activities:
Property acquisitions		-350		-		-		-350
Capital expenditures		-265,131		-6,365		-		-271,496
Other property and equipment additions		-58		-		-		-58
Net cash used in investing activities		-265,539		-6,365		-		-271,904
Cash flows provided by financing activities:
Repayments of indebtedness		-325,000		-		-		-325,000
Proceeds from intercompany promissory note		325,000						325,000
Advances from EGC		177,832		-		-		177,832
Deferred financing costs		-1,089		-		-		-1,089
Other		-689		-		-		-689
Net cash provided by financing activities		176,054		-		-		176,054
Net decrease in cash and cash equivalents		-5,506		-		-		-5,506
Cash and cash equivalents at beginning of period		5,601		-		-		5,601
Cash and cash equivalents at end of period	$	95	$	-	$	-	$	95
PREDECESSOR COMPANY
Supplemental Condensed Consolidating Statement of Cash Flows
Nine Months Ended March 31, 2014
(UNAUDITED)
	Parent
	Company		Guarantor		Reclassifications
	Only		Subsidiaries		& Eliminations		Consolidated
	(In thousands)
Net cash provided by operating activities	$	235,046	$	22,977	$	-	$	258,023
Cash flows provided by (used in) investing activities:
Decrease in restricted cash		51,757		-		-		51,757
Property acquisitions		-83,412		-		-		-83,412
Deposit for Nexen Acquisition		-7,040		-		-		-7,040
Capital expenditures		-245,928		-22,977		-		-268,905
Other property and equipment additions		-984		-		-		-984
Proceeds from sale of assets		80		-		-		80
Net cash used in investing activities		-285,527		-22,977		-		-308,504
Cash flows provided by (used in) financing activities:
Repayments of indebtedness		55,000		-		-		55,000
Deferred financing costs		-206		-		-		-206
Purchase of shares into treasury		-4,544		-		-		-4,544
Exercise of stock options		794		-		-		794
Net cash provided by financing activities		51,044		-		-		51,044
Net increase in cash and cash equivalents		563		-		-		563
Cash and cash equivalents at beginning of period		3,885		-		-		3,885
Cash and cash equivalents at end of period	$	4,448	$	-	$	-	$	4,448

Organization_and_Basis_of_Pres1

Organization and Basis of Presentation (Policy)	9 Months Ended
	Mar. 31, 2015
Organization and Basis of Presentation [Abstract]
Nature of Operations	Nature of Operations.  EPL Oil & Gas, Inc. was incorporated as a Delaware corporation on January 29, 1998 and is a wholly-owned subsidiary of Energy XXI Gulf Coast, Inc. (“EGC”), a Delaware corporation, which is an indirect wholly-owned subsidiary of Energy XXI Ltd, an exempted company under the laws of Bermuda (“Energy XXI”). References in this Quarterly Report to “we,” “our,” “us,” “the Company” or “EPL”) are to EPL Oil & Gas, Inc. and its wholly-owned subsidiaries. We operate as an independent oil and natural gas exploration and production company with current operations concentrated in the U.S. Gulf of Mexico shelf (the “GoM shelf”) focusing on state and federal waters offshore Louisiana, which we consider our core area.
Principles of Consolidation and Reporting	Principles of Consolidation and Reporting.  On June 3, 2014, Energy XXI, EGC, Clyde Merger Sub, Inc., a wholly- owned subsidiary of EGC (“Merger Sub”), and EPL, completed the transactions contemplated by the Agreement and Plan of Merger, dated as of March 12, 2014 (as amended, the “Merger Agreement”), by and among Energy XXI, EGC, Merger Sub, and EPL, pursuant to which Merger Sub was merged with and into EPL with EPL continuing as the surviving corporation (the “Merger”). Pursuant to the Merger Agreement, at the effective time of the Merger, the issued and outstanding shares of EPL common stock, par value $0.001 per share, were converted, in the aggregate, into the right to receive merger consideration consisting of approximately 65% in cash and 35% in shares of common stock of Energy XXI, par value $0.005 per share.
	The Merger resulted in EPL becoming an indirect, wholly-owned subsidiary of Energy XXI. Therefore, in the preparation of our financial statements, we have applied “pushdown” accounting, based on guidance from the Securities and Exchange Commission (“SEC”). Pushdown accounting refers to the use of the acquiring entity’s basis of accounting in the preparation of the acquired entity’s financial statements. As a result, our separate financial statements reflect the new basis of accounting recorded by Energy XXI upon the acquisition. As such, in accordance with accounting principles generally accepted in the U.S. (“U.S. GAAP”), due to our new basis of accounting, our financial statements include a black line denoting that our financial statements covering periods prior to the date of the Merger are not comparable to our financial statements as of and subsequent to the date of the Merger. References to the “Predecessor Company” refer to reporting dates of the Company through June 3, 2014, reflecting results of operations and cash flows of the Company prior to the Merger on our historical accounting basis; subsequent thereto, the Company is referred to as the “Successor Company,” reflecting the impact of pushdown accounting and the results of operations and cash flows of the Company subsequent to the Merger.
	Energy XXI follows the “full cost” method of accounting for its oil and gas producing activities, while we had historically followed the “successful efforts” method of accounting. Subsequent to the Merger, we converted our accounting method from successful efforts to the full cost method of accounting to be consistent with Energy XXI’s method of accounting pursuant to SEC guidance, which requires a reporting entity that follows the full cost method to apply that method to all of its operations and to the operations of its subsidiaries. Under U.S. GAAP, a change in accounting method is required to be applied retroactively in order to provide comparable historical period information to users of financial statements. However, due to the new basis of accounting established as a result of the Merger transaction and pushdown accounting, our financial statements are no longer comparable to those of periods prior to the Merger and we have applied the full cost method of accounting on a prospective basis from the date of the Merger.
	The accompanying consolidated financial statements include the accounts of EPL and its wholly-owned subsidiaries and have been prepared in accordance with U.S. GAAP. All significant intercompany accounts and transactions are eliminated in consolidation. Our interests in oil and natural gas exploration and production ventures and partnerships are proportionately consolidated.
Interim Financial Statements	Interim Financial Statements.  The accompanying consolidated financial statements have been prepared in accordance with U.S. GAAP for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. In the opinion of management, all adjustments of a normal and recurring nature considered necessary for a fair presentation have been included in the accompanying consolidated financial statements. The results of operations for the interim period are not necessarily indicative of the results that will be realized for the entire fiscal year. These consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in our 2014 Transition Report.
Use of Estimates	Use of Estimates.  The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the dates of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Estimates of proved reserves are key components of our depletion rate for our proved oil and natural gas properties and the full cost ceiling test limitation. Other items subject to estimates and assumptions include fair value estimates used in pushdown accounting and accounting for acquisitions; carrying amounts of property, plant and equipment; goodwill; asset retirement obligations; deferred income taxes; and valuation of derivative financial instruments, among others.    Accordingly, our accounting estimates require exercise of judgment by management in preparing such estimates. While we believe that the estimates and assumptions used in preparation of our consolidated financial statements are appropriate, actual results could differ from those estimates, and any such differences may be material.
Recent Accounting Pronouncements	Recent Accounting Pronouncements.  In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update No. 2014-09, Revenue from Contracts with Customers (“ASU 2014-09”). ASU 2014-09 provides a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and will supersede most current revenue recognition guidance. ASU No. 2014-09 is effective for annual periods beginning after December 15, 2016, and interim periods therein, using either of the following transition methods: (i) a full retrospective approach reflecting the application of the standard in each prior reporting period with the option to elect certain practical expedients, or (ii) a retrospective approach with the cumulative effect of initially adopting ASU 2014-09 recognized at the date of adoption (which includes additional footnote disclosures). We are evaluating the impact of the pending adoption of ASU No. 2014-09 on our financial position and results of operations and have not yet determined the method that will be adopted.
	In August 2014, the FASB issued Accounting Standards Update No. 2014-15, Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern (“ASU 2014-15”). ASU 2014-15 requires management to assess an entity’s ability to continue as a going concern and to provide related footnote disclosures in certain circumstances. The standard is effective for annual periods ending after December 15, 2016, and interim periods within annual periods beginning after December 15, 2016, with early adoption permitted. We are currently evaluating the provisions of ASU 2014-15 and assessing the impact, if any, it may have on our consolidated financial statements.
	In April 2015, the FASB issued Accounting Standards Update No. 2015-03, Interest – Imputation of Interest (Subtopic 835-30) (“ASU 2015-03”).  ASU 2015-03 requires that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability. The ASU is effective for public entities for annual periods beginning after December 15, 2015, and interim periods within those annual reporting periods. Early adoption is permitted for financial statements that have not been previously issued.  The guidance will be applied on a retrospective basis. We are currently evaluating the provisions of ASU 2015-03 and assessing the impact it may have on our consolidated financial position, results of operations or cash flows.

Acquisitions_Tables

Acquisitions (Tables)	9 Months Ended
	Mar. 31, 2015
Schedule of Revenues and Leases Operating Expenses Attributable to Acquired Oil and Gas Properties
		SUCCESSOR COMPANY					PREDECESSOR COMPANY
			Three Months Ended March 31,		Nine Months Ended March 31,		Three Months Ended March 31,		Nine Months Ended March 31,
			2015		2015		2014		2014
	(In thousands)
	SP49 Interests:
	Revenues		$	8,311	$	35,342	$	-	$	-
	Lease operating expenses		$	837	$	5,200	$	-	$	-
	EI Interests:
	Revenues		$	4,711	$	24,703	$	8,380	$	8,380
	Lease operating expenses		$	6,030	$	16,026	$	3,656	$	3,656
	WD29 Interests:
	Revenues		$	1,683	$	8,428	$	3,232	$	6,243
	Lease operating expenses		$	238	$	609	$	59	$	103
Schedule of Consolidated Results of Operations
			PRO FORMA
			Three Months Ended		Nine Months Ended
			March 31,		March 31,
			2014		2014
	(in thousands, except per share data)
	Revenue		$	176,833	$	563,103
	Net income			11,434		2,289
	Basic income per share			0.29		0.06
	Diluted income per share			0.29		0.06
The South Pass 49 [Member]
Schedule of Assets Acquired and Liabilities Assumed	The following table summarizes the assets acquired and liabilities assumed in the transfer.
	(In thousands)
	Oil and natural gas properties	$	231,271
	Asset retirement obligations		-1,086
	Net assets acquired	$	230,185
Nexen Acquisition [Member]
Schedule of Assets Acquired and Liabilities Assumed
	(In thousands)
	Oil and natural gas properties	$	82,897
	Asset retirement obligations		-18,165
	Net assets acquired	$	64,732
West Delta 29 Acquisition [Member]
Schedule of Assets Acquired and Liabilities Assumed	The following table summarizes the estimated values of assets acquired and liabilities assumed and reflects final adjustments to purchase price provided for by the purchase and sale agreement of approximately $7.1 million to reflect an economic effective date of January 1, 2013.
	(In thousands)
	Oil and natural gas properties	$	16,544
	Asset retirement obligations		-1,398
	Net assets acquired	$	15,146

Earnings_per_Share_Tables

Earnings per Share (Tables)	9 Months Ended
	Mar. 31, 2015
Earnings Per Share [Abstract]
Basic and Diluted Weighted Average Shares Outstanding and Earnings per Share
		Three Months Ended		Nine Months Ended
		March 31,		March 31,
		2014		2014
		(in thousands, except per share data)
	Income (numerator):
	Net income (loss)	$	13,331	$	-11
	Net income attributable to participating securities		-166		-
	Net income (loss) attributable to common shares	$	13,165	$	-11
	Weighted average shares (denominator):
	Weighted average shares—basic		38,714		38,648
	Dilutive effect of stock options		519		-
	Weighted average shares—diluted		39,233		38,648
	Basic income (loss) per share	$	0.34	$	0
	Diluted income (loss) per share	$	0.34	$	0
Number of Antidilutive Shares Excluded from the Computation of Dilutive Weighted Average Shares	The following table indicates the number of shares underlying outstanding stock-based awards excluded from the computation of dilutive weighted average shares because their effect was antidilutive for the period indicated.
		Three Months Ended		Nine Months Ended
		March 31,		March 31,
		2014		2014
		(in thousands)		(in thousands)
	Weighted average shares		497		1,281

Asset_Retirement_Obligations_T

Asset Retirement Obligations (Tables)	9 Months Ended
	Mar. 31, 2015
Asset Retirement Obligations [Abstract]
Schedule of Changes in Asset Retirement Obligations	The following table reconciles the beginning and ending aggregate recorded amount of our asset retirement obligations.
		Nine Months Ended
		March 31,
		2015
		(in thousands)
	Beginning of period total	$	272,695
	Accretion expense		17,788
	Liabilities incurred and true-up to liabilities settled		2,728
	Liabilities settled		-39,025
	End of period total		254,186
	Less: Current portion		-39,831
	End of period, noncurrent portion	$	214,355

Indebtedness_Tables

Indebtedness (Tables)	9 Months Ended
	Mar. 31, 2015
Indebtedness [Abstract]
Schedule of Indebtedness	The following table sets forth our indebtedness.
		March 31,		June 30,
		2015		2014
		(In thousands)
	8.25% Senior Notes due 2018	$	542,855	$	550,566
	Revolving Credit Sub-Facility		150,000		475,000
	Intercompany Promissory Note		325,000		-
	Derivative instruments premium financing		3,176		-
	Total debt		1,021,031		1,025,566
	Less: current maturities		-3,176		-
	Total indebtedness including intercompany promissory note	$	1,017,855	$	1,025,566

Derivative_Financial_Instrumen1

Derivative Financial Instruments (Tables)	9 Months Ended
	Mar. 31, 2015
Derivative Financial Instruments [Abstract]
Schedule of Derivative Instruments Outstanding	The following table sets forth our derivative instrument outstanding as of March 31, 2015.
	Oil Contracts
		Type									Weighted Average Contract Price
		of						Volume
	Remaining Contract Term	Contract			Index			(MMBtu)			Sub Floor			Floor		Ceiling
	April 2015 - December 2015		Three-Way Collars			ARGUS-LLS			1,925		$	32.86		$	45.00	$	75.71
	Gas Contracts
		Type									Swap
		of						Volume			Fixed Price
	Remaining Contract Term	Contract			Index			(MMBtu)			($/Mmbtu)
	April 2015 - December 2015		Fixed Price Swaps			NYMEX-HH			1,183		$	4.31
Components of Gain (Loss) on Derivative Instruments
	The effect of derivative financial instruments on our condensed consolidated statements of operations was as follows:
			SUCCESSOR							PREDECESSOR
			COMPANY							COMPANY
			Three Months Ended			Nine Months Ended				Three Months Ended			Nine Months Ended
			March 31,			March 31,				March 31,			March 31,
			2015			2015				2014			2014
	Location of (Gain) Loss in Statement of Operations
	Cash Settlements
	Oil sales		$	-1,170		$	-25,578			$	-		$	-
	Natural gas sales			-660			-1,328				-			-
	Total cash settlements			-1,830			-26,906				-			-
	Commodity Derivative Instruments designated as
	hedging instruments:
	Loss on derivative financial instruments
	Ineffective portion of commodity derivative instruments			579			579				-			-
	Commodity Derivative Instruments not designated as
	hedging instruments:
	Loss on derivative financial instruments
	Realized mark to market loss			-			55				-3,746			3,409
	Unrealized mark to market loss			-			1				16,888			65,073
	Total loss on derivative financial instruments			579			635				13,142			68,482
	Total (gain) loss		$	-1,251		$	-26,271			$	13,142		$	68,482

Fair_Value_Measurements_Tables

Fair Value Measurements (Tables)	9 Months Ended
	Mar. 31, 2015
Fair Value Measurements [Abstract]
Schedule of Fair Value Measurements of Assets and Liabilities	The following table sets forth our financial assets and liabilities that are accounted for at fair value on a recurring basis.
		March 31,		June 30,
		2015		2014
		(in thousands)
	Assets
	Derivative financial instruments designated as hedging instruments
	Current	$	5,981	$	-
	Noncurrent		-		-
	Total gross derivative financial instruments subject to enforceable netting agreement		5,981		-
	Gross amounts offset in balance sheet		-3,075		-
	Net amounts presented in balance sheet	$	2,906	$	-
	Liabilities
	Derivative financial instruments designated as hedging instruments
	Current	$	3,075	$	26,440
	Noncurrent		-		2,140
	Total gross derivative financial instruments subject to enforceable netting agreement		3,075		28,580
	Gross amounts offset in balance sheet		-3,075		-
	Net amounts presented in balance sheet	$	-	$	28,580
Schedule of Carrying Values and Estimated Fair Values of Debt Instruments
		31-Mar-15				30-Jun-14
		(In thousands)
			Carrying Value		Estimated Fair Value		Carrying Value		Estimated Fair Value
	8.25% Senior Notes	$	542,855	$	379,760	$	550,566	$	545,700
	Promissory Note		325,000		325,000		-		-
	Revolving Credit Sub-Facility		150,000		150,000		475,000		475,000
	Total	$	1,017,855	$	854,760	$	1,025,566	$	1,020,700

Supplemental_Condensed_Consoli1

Supplemental Condensed Consolidating Financial Information (Tables)	9 Months Ended
	Mar. 31, 2015
Supplemental Condensed Consolidating Financial Information [Abstract]
Supplemental Condensed Consolidating Balance Sheet	SUCCESSOR COMPANY
	Supplemental Condensed Consolidating Balance Sheet
	As of March 31, 2015
	(UNAUDITED)
		Parent
		Company		Guarantor		Reclassifications
		Only		Subsidiaries		& Eliminations		Consolidated
		(In thousands)
	ASSETS
	Current assets:
	Cash and cash equivalents	$	95	$	-	$	-	$	95
	Trade accounts receivable - net		54,029		-		-37		53,992
	Intercompany receivables		-		20,213		-20,213		-
	Derivative financial instruments		2,906		-		-		2,906
	Deferred tax asset		16,760		-		-		16,760
	Prepaid expenses		6,135		-		-		6,135
	Total current assets		79,925		20,213		-20,250		79,888
	Net property and equipment		1,893,726		159,808		-		2,053,534
	Investment in affiliates		129,065		-		-129,065		-
	Restricted cash		6,024		-		-		6,024
	Other assets		1,069		89		-90		1,068
	Total assets	$	2,109,809	$	180,110	$	-149,405	$	2,140,514
	LIABILITIES AND STOCKHOLDER'S EQUITY
	Current liabilities:
	Accounts payable	$	30,011	$	424	$	-37	$	30,398
	Due to EGC		182,792		-		-		182,792
	Intercompany payables		20,213		-		-20,213		-
	Accrued liabilities		72,487		-		-90		72,397
	Asset retirement obligations		34,627		5,204		-		39,831
	Current maturities of long-term debt		3,176		-		-		3,176
	Total current liabilities		343,306		5,628		-20,340		328,594
	Long-term debt		692,855		-		-		692,855
	Intercompany promissory note		325,000		-		-		325,000
	Asset retirement obligations		172,705		41,650		-		214,355
	Deferred tax liabilities		45,541		3,767		-		49,308
	Total liabilities		1,579,407		51,045		-20,340		1,610,112
	Stockholder's equity:
	Preferred stock		-		-		-		-
	Common stock		-		-		-		-
	Additional paid-in capital		1,599,341		85,479		-85,479		1,599,341
	Accumulated other comprehensive income		3,790		-		-		3,790
	Retained earnings (accumulated deficit)		-1,072,729		43,586		-43,586		-1,072,729
	Total stockholder's equity		530,402		129,065		-129,065		530,402
	Total liabilities and stockholder's equity	$	2,109,809	$	180,110	$	-149,405	$	2,140,514
	SUCCESSOR COMPANY
	Supplemental Condensed Consolidating Balance Sheet
	As of June 30, 2014
	(AUDITED)
		Parent
		Company		Guarantor		Reclassifications
		Only		Subsidiaries		& Eliminations		Consolidated
		(In thousands)
	ASSETS
	Current assets:
	Cash and cash equivalents	$	5,601	$	-	$	-	$	5,601
	Trade accounts receivable - net		72,156		145		-		72,301
	Intercompany receivables		-		26,311		-26,311		-
	Deferred tax asset		24,587		-		-		24,587
	Prepaid expenses		26,521		-		-		26,521
	Total current assets		128,865		26,456		-26,311		129,010
	Net property and equipment		3,034,805		170,382		-		3,205,187
	Investment in affiliates		126,638		-		-126,638		-
	Goodwill		329,293		-		-		329,293
	Restricted cash		6,023		-		-		6,023
Other assets		226		91		-		317
Total assets	$	3,625,850	$	196,929	$	-152,949	$	3,669,830
LIABILITIES AND STOCKHOLDER'S EQUITY
Current liabilities:
Accounts payable	$	92,325	$	656	$	-	$	92,981
Due to EGC		4,960		-		-		4,960
Intercompany payables		26,311		-		-26,311		-
Accrued liabilities		161,503		15		-		161,518
Asset retirement obligations		33,357		6,474		-		39,831
Derivative financial instruments		26,440		-		-		26,440
Total current liabilities		344,896		7,145		-26,311		325,730
Long-term debt		1,025,566		-		-		1,025,566
Asset retirement obligations		193,908		38,956		-		232,864
Deferred tax liabilities		459,608		24,190		-		483,798
Derivative financial instruments		2,140		-		-		2,140
Other		6		-		-		6
Total liabilities		2,026,124		70,291		-26,311		2,070,104
Stockholder's equity:
Preferred stock		-		-		-		-
Common stock		-		-		-		-
Additional paid-in capital		1,599,341		85,479		-85,479		1,599,341
Accumulated other comprehensive loss		-6,252		-		-		-6,252
Retained earnings		6,637		41,159		-41,159		6,637
Total stockholder's equity		1,599,726		126,638		-126,638		1,599,726
Total liabilities and stockholder's equity	$	3,625,850	$	196,929	$	-152,949	$	3,669,830
Supplemental Condensed Consolidating Statement of Operations	SUCCESSOR COMPANY
	Supplemental Condensed Consolidating Statement of Operations
	Three Months Ended March 31, 2015
	(UNAUDITED)
		Parent
		Company		Guarantor		Reclassifications
		Only		Subsidiaries		& Eliminations		Consolidated
		(In thousands)
	Revenue:
	Oil and natural gas	$	79,065	$	8,188	$	-	$	87,253
	Total revenue		79,065		8,188		-		87,253
	Costs and expenses:
	Lease operating		49,552		19		-		49,571
	Transportation		544		-1		-		543
	Impairment of oil and natural gas properties		430,859		-		-		430,859
	Depreciation, depletion and  amortization		68,541		5,035		-		73,576
	Accretion of liability for asset retirement obligations		4,328		1,181		-		5,509
	General and administrative		11,998		-		-		11,998
	Taxes, other than on earnings		2,193		864		-		3,057
	Other		-3		-		-		-3
	Total costs and expenses		568,012		7,098		-		575,110
	Income (loss) from operations		-488,947		1,090		-		-487,857
	Other income (expense):
	Interest income		6		-		-		6
	Interest expense		-12,558		-		-		-12,558
	Loss on derivative instruments		-579		-		-		-579
	Income from equity investments		716		-		-716		-
	Total other expense		-12,415		-		-716		-13,131
	Income (loss before provision for income taxes )		-501,362		1,090		-716		-500,988
	Income tax expense (benefit)		-190,845		374		-		-190,471
	Net income (loss)	$	-310,517	$	716	$	-716	$	-310,517
	Comprehensive income (loss)
	Net income (loss)		-310,517		716		-716		-310,517
	Other comprehensive loss		-2,182		-		-		-2,182
	Comprehensive income (loss)	$	-312,699	$	716	$	-716	$	-312,699
	SUCCESSOR COMPANY
	Supplemental Condensed Consolidating Statement of Operations
	Nine Months Ended March 31, 2015
	(UNAUDITED)
		Parent
		Company		Guarantor		Reclassifications
		Only		Subsidiaries		& Eliminations		Consolidated
		(In thousands)
	Revenue:
	Oil and natural gas	$	379,502	$	37,541	$	-	$	417,043
	Other		778		154		-		932
	Total revenue		380,280		37,695		-		417,975
	Costs and expenses:
	Lease operating		152,170		9,005		-		161,175
	Transportation		2,316		1		-		2,317
	Impairment of oil and natural gas properties		1,113,727		-		-		1,113,727
	Goodwill impairment		329,293		-		-		329,293
	Depreciation, depletion and  amortization		218,928		16,940		-		235,868
	Accretion of liability for asset retirement obligations		14,580		3,208		-		17,788
	General and administrative		26,850		-		-		26,850
	Taxes, other than on earnings		2,792		4,737		-		7,529
	Other		18		-		-		18
	Total costs and expenses		1,860,674		33,891		-		1,894,565
	Income (loss) from operations		-1,480,394		3,804		-		-1,476,590
	Other income (expense):
	Interest income		10		-		-		10
	Interest expense		-34,406		-		-		-34,406
	Loss on derivative instruments		-635		-		-		-635
	Income from equity investments		2,427		-		-2,427		-
Total other expense		-32,604		-		-2,427		-35,031
Income (loss) before provision for income taxes		-1,512,998		3,804		-2,427		-1,511,621
Income tax expense (benefit)		-433,632		1,377		-		-432,255
Net income (loss)	$	-1,079,366	$	2,427	$	-2,427	$	-1,079,366
Comprehensive income (loss)
Net income (loss)		-1,079,366		2,427		-2,427		-1,079,366
Other comprehensive income		10,042		-		-		10,042
Comprehensive income (loss)	$	-1,069,324	$	2,427	$	-2,427	$	-1,069,324
PREDECESSOR COMPANY
Supplemental Condensed Consolidating Statement of Operations
Three Months Ended March 31, 2014
(UNAUDITED)
	Parent
	Company		Guarantor		Reclassifications
	Only		Subsidiaries		& Eliminations		Consolidated
	(In thousands)
Revenue:
Oil and natural gas	$	141,812	$	16,658	$	-	$	158,470
Other		264		757		-		1,021
Total revenue		142,076		17,415		-		159,491
Costs and expenses:
Lease operating		35,736		5,998		-		41,734
Transportation		899		1		-		900
Exploration expenditures and dry hole costs		4,941		-		-		4,941
Impairment of oil and natural gas properties		61		-		-		61
Depreciation, depletion and  amortization		40,696		4,949		-		45,645
Accretion of liability for asset retirement obligations		5,788		1,209		-		6,997
General and administrative		10,287		-		-		10,287
Taxes, other than on earnings		177		2,295		-		2,472
Other		-942		-		-		-942
Total costs and expenses		97,643		14,452		-		112,095
Income from operations		44,433		2,963		-		47,396
Other income (expense):
Interest income		10		-		-		10
Interest expense		-13,304		-		-		-13,304
Loss on derivative instruments		-13,142		-		-		-13,142
Income from equity investments		1,884		-		-1,884		-
Total other expense		-24,552		-		-1,884		-26,436
Income before provision for income taxes		19,881		2,963		-1,884		20,960
Income tax expense		6,550		1,079		-		7,629
Net income	$	13,331	$	1,884	$	-1,884	$	13,331
PREDECESSOR COMPANY
Supplemental Condensed Consolidating Statement of Operations
Nine Months Ended March 31, 2014
(UNAUDITED)
	Parent
	Company		Guarantor		Reclassifications
	Only		Subsidiaries		& Eliminations		Consolidated
	(In thousands)
Revenue:
Oil and natural gas	$	424,970	$	58,259	$	-	$	483,229
Other		543		2,321		-		2,864
Total revenue		425,513		60,580		-		486,093
Costs and expenses:
Lease operating		105,136		18,067		-		123,203
Transportation		3,123		2		-		3,125
Exploration expenditures and dry hole costs		22,415		618		-		23,033
Impairment of oil and natural gas properties		827		-		-		827
Depreciation, depletion and  amortization		129,764		16,382		-		146,146
Accretion of liability for asset retirement obligations		19,033		4,065		-		23,098
General and administrative		23,923		-		-		23,923
Taxes, other than on earnings		638		7,725		-		8,363
Gain on sale of assets		-1,825		-		-		-1,825
Other		27,330		127		-		27,457
Total costs and expenses		330,364		46,986		-		377,350
Income from operations		95,149		13,594		-		108,743
Other income (expense):
Interest income		82		-		-		82
Interest expense		-39,479		-		-		-39,479
Loss on derivative instruments		-68,482		-		-		-68,482
Income from equity investments		8,633		-		-8,633		-
Total other expense		-99,246		-		-8,633		-107,879
Income (loss) before provision for income taxes		-4,097		13,594		-8,633		864
Income tax expense (benefit)		-4,086		4,961		-		875
Net income (loss)	$	-11	$	8,633	$	-8,633	$	-11
Supplemental Condensed Consolidating Statement of Cash Flows	SUCCESSOR COMPANY
	Supplemental Condensed Consolidating Statement of Cash Flows
	Nine Months Ended March 31, 2015
	(UNAUDITED)
		Parent
		Company		Guarantor		Reclassifications
		Only		Subsidiaries		& Eliminations		Consolidated
		(In thousands)
	Net cash provided by operating activities	$	83,979	$	6,365	$	-	$	90,344
	Cash flows used in investing activities:
	Property acquisitions		-350		-		-		-350
	Capital expenditures		-265,131		-6,365		-		-271,496
	Other property and equipment additions		-58		-		-		-58
	Net cash used in investing activities		-265,539		-6,365		-		-271,904
	Cash flows provided by financing activities:
	Repayments of indebtedness		-325,000		-		-		-325,000
	Proceeds from intercompany promissory note		325,000						325,000
	Advances from EGC		177,832		-		-		177,832
	Deferred financing costs		-1,089		-		-		-1,089
	Other		-689		-		-		-689
	Net cash provided by financing activities		176,054		-		-		176,054
	Net decrease in cash and cash equivalents		-5,506		-		-		-5,506
	Cash and cash equivalents at beginning of period		5,601		-		-		5,601
	Cash and cash equivalents at end of period	$	95	$	-	$	-	$	95
	PREDECESSOR COMPANY
	Supplemental Condensed Consolidating Statement of Cash Flows
	Nine Months Ended March 31, 2014
	(UNAUDITED)
		Parent
		Company		Guarantor		Reclassifications
		Only		Subsidiaries		& Eliminations		Consolidated
		(In thousands)
	Net cash provided by operating activities	$	235,046	$	22,977	$	-	$	258,023
	Cash flows provided by (used in) investing activities:
	Decrease in restricted cash		51,757		-		-		51,757
	Property acquisitions		-83,412		-		-		-83,412
	Deposit for Nexen Acquisition		-7,040		-		-		-7,040
	Capital expenditures		-245,928		-22,977		-		-268,905
	Other property and equipment additions		-984		-		-		-984
	Proceeds from sale of assets		80		-		-		80
	Net cash used in investing activities		-285,527		-22,977		-		-308,504
	Cash flows provided by (used in) financing activities:
	Repayments of indebtedness		55,000		-		-		55,000
	Deferred financing costs		-206		-		-		-206
	Purchase of shares into treasury		-4,544		-		-		-4,544
	Exercise of stock options		794		-		-		794
	Net cash provided by financing activities		51,044		-		-		51,044
	Net increase in cash and cash equivalents		563		-		-		563
	Cash and cash equivalents at beginning of period		3,885		-		-		3,885
	Cash and cash equivalents at end of period	$	4,448	$	-	$	-	$	4,448

Organization_and_Basis_of_Pres2

Organization and Basis of Presentation (Narrative) (Details) (USD $)	0 Months Ended
	Jun. 03, 2014	Mar. 31, 2015	Jun. 30, 2014
Business Acquisition [Line Items]
Common stock, par value	$0.00	$0.00	$0.00
Aggregate consideration to be paid in acquirer stock	35.00%
Aggregate consideration paid in cash	65.00%
Energy XXI LTD [Member]
Business Acquisition [Line Items]
Common stock, par value	$0.01
The South Pass 49 [Member]
Business Acquisition [Line Items]
Date of acquisition	3-Jun-14

Acquisitions_Narrative_Details

Acquisitions (Narrative) (Details) (USD $)	9 Months Ended	3 Months Ended	9 Months Ended	0 Months Ended	5 Months Ended	0 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Mar. 31, 2014	Jun. 03, 2014	31-May-14	Jan. 15, 2014	Sep. 26, 2013	Jun. 01, 2014	Sep. 01, 2013	Jan. 01, 2013
Business Acquisition [Line Items]
Percentage of ownership interest	100.00%
8.25% Senior Notes Due 2018 [Member]
Business Acquisition [Line Items]
Senior notes, stated percentage				8.25%
8.25% Notes [Member]
Business Acquisition [Line Items]
Senior notes, face amount	510,000,000
Senior notes, stated percentage	8.25%
Business Acquisition [Member]
Business Acquisition [Line Items]
Exploration costs, impairment expense and gain on sales of assets		5,000,000	22,000,000
Increase in DD&A expense		25,000,000	82,600,000
Increase (decrease) in interest expense		-3,400,000	-10,000,000
The South Pass 49 [Member]
Business Acquisition [Line Items]
Date of acquisition				3-Jun-14
Purchase price								230,185,000
Percentage of ownership interest				100.00%
Borrowings under line of credit				135,000,000
Capital contribution from EGC				95,000,000
The South Pass 49 [Member] | Parent Company [Member]
Business Acquisition [Line Items]
Percentage of ownership interest					43.50%
The South Pass 49 [Member] | Energy XXI LTD [Member]
Business Acquisition [Line Items]
Percentage of ownership interest				56.50%
Nexen Acquisition [Member]
Business Acquisition [Line Items]
Acquired certain interests in producing oil and natural gas assets						70,400,000
Purchase price									64,732,000
Percentage of ownership interest						100.00%
Economic effective date						1-Sep-13
Purchase price adjustments									5,700,000
West Delta 29 Acquisition [Member]
Business Acquisition [Line Items]
Date of acquisition							26-Sep-13
Acquired certain interests in producing oil and natural gas assets							21,800,000
Purchase price										15,146,000
Economic effective date							1-Jan-13
Purchase price adjustments										$7,100,000

Acquisitions_Schedule_of_Asset

Acquisitions (Schedule of Assets Acquired and Liabilities Assumed) (Details) (USD $)	Mar. 31, 2015	Jun. 30, 2014	Jun. 01, 2014	Sep. 01, 2013	Jan. 01, 2013
In Thousands, unless otherwise specified
Acquired Indefinite-lived Intangible Assets [Line Items]
Asset retirement obligations	($254,186)	($272,695)
The South Pass 49 [Member]
Acquired Indefinite-lived Intangible Assets [Line Items]
Oil and natural gas properties			231,271
Asset retirement obligations			-1,086
Net assets acquired			230,185
Nexen Acquisition [Member]
Acquired Indefinite-lived Intangible Assets [Line Items]
Oil and natural gas properties				82,897
Asset retirement obligations				-18,165
Net assets acquired				64,732
West Delta 29 Acquisition [Member]
Acquired Indefinite-lived Intangible Assets [Line Items]
Oil and natural gas properties					16,544
Asset retirement obligations					-1,398
Net assets acquired					$15,146

Acquisitions_Schedule_of_Reven

Acquisitions (Schedule of Revenues and Leases Operating Expenses Attributable to Acquired Oil and Gas Properties) (Details) (USD $)	3 Months Ended	9 Months Ended	3 Months Ended	9 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2015	Mar. 31, 2014	Mar. 31, 2014
Successor Company [Member] | The South Pass 49 [Member]
Business Acquisition [Line Items]
Revenues	$8,311	$35,342
Lease operating expenses	837	5,200
Successor Company [Member] | West Delta 29 Acquisition [Member]
Business Acquisition [Line Items]
Revenues	1,683	8,428
Lease operating expenses	238	609
Successor Company [Member] | Nexen Acquisition [Member]
Business Acquisition [Line Items]
Revenues	4,711	24,703
Lease operating expenses	6,030	16,026
Predecessor Company [Member] | West Delta 29 Acquisition [Member]
Business Acquisition [Line Items]
Revenues			3,232	6,243
Lease operating expenses			59	103
Predecessor Company [Member] | Nexen Acquisition [Member]
Business Acquisition [Line Items]
Revenues			8,380	8,380
Lease operating expenses			$3,656	$3,656

Acquisitions_Schedule_of_Conso

Acquisitions (Schedule of Consolidated Results of Operations) (Details) (USD $)	3 Months Ended	9 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2014
Acquisitions [Abstract]
Revenue	$176,833	$563,103
Net loss	$11,434	$2,289
Basic loss per share	$0.29	$0.06
Diluted loss per share	$0.29	$0.06

Pushdown_Accounting_and_Goodwi1

Pushdown Accounting and Goodwill (Narrative) (Details) (USD $)	9 Months Ended
	Mar. 31, 2015	Jun. 30, 2014
	segment
Number of reporting unit	1
Goodwill		$329,293,000
EPL Oil & Gas Inc [Member]
Amount reimbursed to Chevron after the acquisition	2,100,000
Increase in value of goodwill	2,100,000
Successor Company [Member]
Goodwill impairment	329,293,000
Goodwill		329,293,000
Successor Company [Member] | Parent Company [Member]
Goodwill impairment	329,293,000
Goodwill		$329,293,000

Earnings_per_Share_Basic_and_D

Earnings per Share (Basic and Diluted Weighted Average Shares Outstanding and Earnings per Share) (Details) (USD $)	3 Months Ended	9 Months Ended	3 Months Ended	9 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2015	Mar. 31, 2014	Mar. 31, 2014
Net income (loss)	($310,517)	($1,079,366)
Predecessor Company [Member]
Net income (loss)			13,331	-11
Net income attributable to participating securities			-166
Net income attributed to common shares			$13,165	($11)
Weighted average shares - basic			38,714	38,648
Dilutive effect of stock options			519
Weighted average shares - diluted			39,233	38,648
Basic income (loss) per share			$0.34	$0
Diluted income (loss) per share			$0.34	$0

Earnings_per_Share_Number_of_A

Earnings per Share (Number of Antidilutive Shares Excluded from the Computation of Dilutive Weighted Average Shares) (Details)	3 Months Ended	9 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2014
Earnings Per Share [Abstract]
Weighted average shares	497	1,281

Property_and_Equipment_Narrati

Property and Equipment (Narrative) (Details) (USD $)	3 Months Ended	9 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2015
Impairment of oil and natural gas properties	$430,900	$1,113,700
Without Cash Flow Hedges [Member]
Impairment of oil and natural gas properties	$415,700	$1,106,000

Asset_Retirement_Obligations_S

Asset Retirement Obligations (Schedule of Changes in Asset Retirement Obligations) (Details) (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Jun. 30, 2014
Asset Retirement Obligations [Abstract]
Beginning of period total	$272,695
Accretion expense	17,788
Liabilities incurred and true-up to liabilities settled	2,728
Liabilities settled	-39,025
End of period total	254,186
Less: Current portion	-39,831	-39,831
End of period, noncurrent portion	$214,355	$232,864

Indebtedness_Narrative_Details

Indebtedness (Narrative) (Details) (USD $)	9 Months Ended	0 Months Ended
	Mar. 31, 2015	Dec. 17, 2010	Mar. 12, 2015	Jun. 03, 2014
Debt Instrument [Line Items]
Derivative instrument premium financing outstanding	$3,200,000
Derivative discount rate	2.50%
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Percentage of secured mortgage	85.00%
Revolving Credit Facility [Member] | Tenth Amendment as of March 3, 2015 [Member]
Debt Instrument [Line Items]
Debt maturity date	9-Apr-18
Debt instrument, change in maturity date	210 days
Threshold requirement for oil and gas properties required to be secured by mortgages	90.00%
Minimum required liquidity	250,000,000
Reduction in borrowing base due to amendment	-5,000,000
Current borrowing base	500,000,000
Revolving Credit Facility [Member] | Tenth Amendment as of March 3, 2015 [Member] | EPL Oil & Gas Inc [Member]
Debt Instrument [Line Items]
Amount of line of credit	325,000,000
Current borrowing base	150,000,000
Minimum [Member] | Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Current ratio	1
Maximum [Member] | Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Secured debt leverage ratio	4.25
Maximum [Member] | Revolving Credit Facility [Member] | Notes Remain Outstanding [Member]
Debt Instrument [Line Items]
Total leverage ratio	1.25
Secured debt leverage ratio	3.75
Maximum [Member] | Revolving Credit Facility [Member] | Notes No Longer Outstanding [Member]
Debt Instrument [Line Items]
Total leverage ratio	1.25
Secured debt leverage ratio	3.75
Maximum [Member] | Revolving Credit Facility [Member] | Tenth Amendment as of March 3, 2015 [Member]
Debt Instrument [Line Items]
Applicable commitment fee, percentage	0.50%
8.25% Senior Notes Due 2018 [Member]
Debt Instrument [Line Items]
Senior notes, stated percentage				8.25%
Debt instrument, redemption period	180 days
8.25% Notes [Member]
Debt Instrument [Line Items]
Senior notes, face amount	510,000,000
Senior notes, stated percentage	8.25%
Debt issuance date	14-Feb-11
Debt maturity date	15-Feb-18
Effective interest rate	5.80%
11.0% Senior Secured Second Lien Notes Due 2020 [Member]
Debt Instrument [Line Items]
Senior notes, face amount	1,450,000,000
Senior notes, stated percentage			11.00%
9.25% Senior Notes Due 2017 [Member]
Debt Instrument [Line Items]
Senior notes, stated percentage		9.25%
Debt maturity date		1-Dec-17
10% Promissory Note Due 2018 [Member]
Debt Instrument [Line Items]
Senior notes, face amount			$325,000,000
Senior notes, stated percentage			10.00%
Debt maturity date			9-Oct-18
LIBOR [Member] | Minimum [Member] | Revolving Credit Facility [Member] | Market Rate Applies [Member]
Debt Instrument [Line Items]
Applicable margin above LIBOR or the base rate	2.75%
LIBOR [Member] | Maximum [Member] | Revolving Credit Facility [Member] | Market Rate Applies [Member]
Debt Instrument [Line Items]
Applicable margin above LIBOR or the base rate	3.75%
Federal Funds Rate [Member] | Minimum [Member] | Revolving Credit Facility [Member] | Market Rate Applies [Member]
Debt Instrument [Line Items]
Applicable margin above LIBOR or the base rate	1.75%
Federal Funds Rate [Member] | Maximum [Member] | Revolving Credit Facility [Member] | Market Rate Applies [Member]
Debt Instrument [Line Items]
Applicable margin above LIBOR or the base rate	2.75%

Indebtedness_Schedule_of_Indeb

Indebtedness (Schedule of Indebtedness) (Details) (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Jun. 30, 2014
8.25% senior notes due 2018	$542,855	$550,566
Revolving credit sub-facility	150,000	475,000
Intercompany promissory note	325,000
Derivative instruments premium financing	3,176
Total indebtedness	1,021,031	1,025,566
Less: current maturities	-3,176
Noncurrent portion of indebtness	1,017,855	1,025,566
8.25% Notes [Member]
Noncurrent portion of indebtness	$542,855	$550,566
Senior notes, stated percentage	8.25%
Debt maturity date	15-Feb-18

Derivative_Financial_Instrumen2

Derivative Financial Instruments (Narrative) (Details) (USD $)	3 Months Ended	9 Months Ended	1 Months Ended
	Mar. 31, 2015	Mar. 31, 2015	Jan. 31, 2015	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015
Derivative [Line Items]
Cash proceeds against certain hedge positions		$4,600,000
Change in fair value of the monetized contracts		2,900,000
The remaining balance in accumulated OCI.	5,700,000	5,700,000
Gain reclassified from AOCI	2,500,000	27,600,000
Deposits for collateral with counterparties	0	0
Scenario, Forecast [Member]
Derivative [Line Items]
Amount expected to be recognized in income	1,900,000	1,900,000		1,900,000	1,900,000	1,900,000
Amount expected to be reclassified from other comprehensive income to income		6,000,000
Net of Tax [Member] | Scenario, Forecast [Member]
Derivative [Line Items]
Amount expected to be reclassified from other comprehensive income to income		$3,800,000
Argus LLS [Member]
Derivative [Line Items]
Volume of oil per day, barrels			7,000

Derivative_Financial_Instrumen3

Derivative Financial Instruments (Schedule of Derivative Instruments Outstanding) (Details) (April 2015 to December 2015 [Member])	Mar. 31, 2015
	MMBTU
NYMEX-HH [Member] | Gas Contract [Member] | Fixed Price Swaps [Member]
Derivative [Line Items]
Volume, Gas Contracts	1,183
Average Swap Price	4.31
Argus LLS [Member] | Oil Contract [Member] | Three-Way Collars [Member]
Derivative [Line Items]
Volume, Oil Contracts	1,925
Sub Floor	32.86
Floor	45
Ceiling	75.71

Derivative_Financial_Instrumen4

Derivative Financial Instruments (Components of Gain (Loss) on Derivative Instruments) (Details) (USD $)	3 Months Ended	9 Months Ended	3 Months Ended	9 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2015	Mar. 31, 2014	Mar. 31, 2014
Successor Company [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Total cash settlements	($1,830)	($26,906)
Unrealized mark to market loss		-1,256
Total loss on derivative financial instruments	579	635
Total (gain) loss	-1,251	-26,271
Successor Company [Member] | Designated as Hedging Instrument [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Ineffective portion of commodity derivative instruments	579	579
Successor Company [Member] | Not Designated as Hedging Instrument [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Realized mark to market loss		55
Unrealized mark to market loss		1
Successor Company [Member] | Oil Contract [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Total cash settlements	-1,170	-25,578
Successor Company [Member] | Gas Contract [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Total cash settlements	-660	-1,328
Predecessor Company [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Unrealized mark to market loss				44,438
Total loss on derivative financial instruments			13,142	68,482
Total (gain) loss			13,142	68,482
Predecessor Company [Member] | Not Designated as Hedging Instrument [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Realized mark to market loss			-3,746	3,409
Unrealized mark to market loss			$16,888	$65,073

Fair_Value_Measurements_Schedu

Fair Value Measurements (Schedule of Fair Value Measurements of Assets and Liabilities) (Details) (USD $)	Mar. 31, 2015	Jun. 30, 2014
In Thousands, unless otherwise specified
Assets:
Current	$2,906
Liabilities:
Current		26,440
Noncurrent		2,140
Designated as Hedging Instrument [Member]
Assets:
Current	5,981
Noncurrent
Total gross commodity derivative instruments subject to enforceable netting agreement	5,981
Gross amounts offset in balance sheet	-3,075
Net amounts presented in balance sheet	2,906
Liabilities:
Current	3,075	26,440
Noncurrent		2,140
Total gross commodity derivative instruments subject to enforceable netting agreement	3,075	28,580
Gross amounts offset in balance sheet	-3,075
Net amounts presented in balance sheet		$28,580

Fair_Value_Measurements_Schedu1

Fair Value Measurements (Schedule of Carrying Values and Estimated Fair Values of Debt Instruments) (Details) (USD $)	Mar. 31, 2015	Jun. 30, 2014
In Thousands, unless otherwise specified
Debt Instrument [Line Items]
Noncurrent portion of indebtness	$1,017,855	$1,025,566
Estimated Fair Value	854,760	1,020,700
8.25% Notes [Member]
Debt Instrument [Line Items]
Senior notes, stated percentage	8.25%
Noncurrent portion of indebtness	542,855	550,566
Estimated Fair Value	379,760	545,700
Maximum debt redemption rate	35.00%
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Noncurrent portion of indebtness	150,000	475,000
Estimated Fair Value	150,000	475,000
10% Promissory Note Due 2018 [Member]
Debt Instrument [Line Items]
Noncurrent portion of indebtness	325
Estimated Fair Value	$325

Income_Taxes_Narrative_Details

Income Taxes (Narrative) (Details) (USD $)	3 Months Ended	9 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2015
Percentage of Energy XXI's ownership interest	100.00%	100.00%
Actual effective income tax/(benefit) rate	-38.00%	-28.60%
Statutory federal income tax rate		35.00%
Estimated [Member]
Annual effective income tax/(benefit) rate		-36.20%
Successor Company [Member]
Goodwill impairment		329,293

Related_Party_Transactions_Nar

Related Party Transactions (Narrative) (Details) (USD $)	3 Months Ended	9 Months Ended
	Mar. 31, 2015	Mar. 31, 2015	Mar. 12, 2015
Energy XXI LTD [Member]
Related Party Transaction [Line Items]
Related party costs	$14,000,000	$23,800,000
Related party cost included in general and administrative expenses	10,400,000	19,500,000
11.0% Senior Secured Second Lien Notes Due 2020 [Member]
Related Party Transaction [Line Items]
Senior notes, stated percentage			11.00%
Senior notes, face amount	1,450,000,000	1,450,000,000
10% Promissory Note Due 2018 [Member]
Related Party Transaction [Line Items]
Senior notes, stated percentage			10.00%
Senior notes, face amount			325,000,000
Interest expense	$1,600,000	$1,600,000

Commitments_and_Contingencies_

Commitments and Contingencies (Narrative) (Details) (USD $)	9 Months Ended	1 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2015	Apr. 30, 2015	Dec. 31, 2008	Dec. 31, 2007
	plaintiff
	lawsuit
Loss Contingencies [Line Items]
Number of class actions lawsuits	3
Number of plaintiffs	3
Restricted escrow funds' trust				$15
Restricted escrow trust funds including accumulated interest			16.7
Escrow deposit	6
Subsequent Event [Member]
Loss Contingencies [Line Items]
supplemental bonding required by Bureau of Ocean Energy Management.		$566.50

Supplemental_Condensed_Consoli2

Supplemental Condensed Consolidating Financial Information (Narrative) (Details)	9 Months Ended
	Mar. 31, 2015
Percentage of ownership interest	100.00%
8.25% Notes [Member]
Senior notes, stated percentage	8.25%

Supplemental_Condensed_Consoli3

Supplemental Condensed Consolidating Financial Information (Supplemental Condensed Consolidating Balance Sheet) (Details) (USD $)	Mar. 31, 2015	Jun. 30, 2014
In Thousands, unless otherwise specified
Cash and cash equivalents	$95	$5,601
Trade accounts receivable - net	53,992	72,301
Derivative financial instruments	2,906
Deferred tax asset	16,760	24,587
Prepaid expenses	6,135	26,521
Total current assets	79,888	129,010
Net property and equipment	2,053,534	3,205,187
Goodwill		329,293
Restricted cash	6,024	6,023
Other assets and debt issuance costs, net of accumulated amortization	1,068	317
Total assets	2,140,514	3,669,830
Accounts payable	30,398	92,981
Accrued expenses	72,397	161,518
Asset retirement obligations	39,831	39,831
Derivative financial instruments		26,440
Due to EGC	182,792	4,960
Current maturities of long-term debt	3,176
Total current liabilities	328,594	325,730
Long-term debt, less current maturities	692,855	1,025,566
Intercompany promissory note	325,000
Asset retirement obligations	214,355	232,864
Deferred tax liabilities	49,308	483,798
Derivative financial instruments		2,140
Other		6
Total Liabilities	1,610,112	2,070,104
Preferred stock
Common stock
Additional paid-in capital	1,599,341	1,599,341
Accumulated other comprehensive income (loss)	3,790	-6,252
Retained earnings (accumulated deficit)	-1,072,729	6,637
Total stockholders' equity	530,402	1,599,726
Total liabilities and stockholders' equity	2,140,514	3,669,830
Successor Company [Member]
Cash and cash equivalents	95	5,601
Trade accounts receivable - net	53,992	72,301
Derivative financial instruments	2,906
Deferred tax asset	16,760	24,587
Prepaid expenses	6,135	26,521
Total current assets	79,888	129,010
Net property and equipment	2,053,534	3,205,187
Goodwill		329,293
Restricted cash	6,024	6,023
Other assets and debt issuance costs, net of accumulated amortization	1,068	317
Total assets	2,140,514	3,669,830
Accounts payable	30,398	92,981
Accrued expenses	72,397	161,518
Asset retirement obligations	39,831	39,831
Derivative financial instruments		26,440
Due to EGC	182,792	4,960
Current maturities of long-term debt	3,176
Total current liabilities	328,594	325,730
Long-term debt, less current maturities	692,855	1,025,566
Intercompany promissory note	325,000
Asset retirement obligations	214,355	232,864
Deferred tax liabilities	49,308	483,798
Derivative financial instruments		2,140
Other		6
Total Liabilities	1,610,112	2,070,104
Preferred stock		0
Common stock
Additional paid-in capital	1,599,341	1,599,341
Accumulated other comprehensive income (loss)	3,790	-6,252
Retained earnings (accumulated deficit)	-1,072,729	6,637
Total stockholders' equity	530,402	1,599,726
Total liabilities and stockholders' equity	2,140,514	3,669,830
Successor Company [Member] | Parent Company [Member]
Cash and cash equivalents	95	5,601
Trade accounts receivable - net	54,029	72,156
Derivative financial instruments	2,906
Deferred tax asset	16,760	24,587
Prepaid expenses	6,135	26,521
Total current assets	79,925	128,865
Net property and equipment	1,893,726	3,034,805
Investment in affiliates	129,065	126,638
Goodwill		329,293
Restricted cash	6,024	6,023
Other assets and debt issuance costs, net of accumulated amortization	1,069	226
Total assets	2,109,809	3,625,850
Accounts payable	30,011	92,325
Intercompany payables	20,213	26,311
Accrued expenses	72,487	161,503
Asset retirement obligations	34,627	33,357
Derivative financial instruments		26,440
Due to EGC	182,792	4,960
Current maturities of long-term debt	3,176
Total current liabilities	343,306	344,896
Long-term debt, less current maturities	692,855	1,025,566
Intercompany promissory note	325,000
Asset retirement obligations	172,705	193,908
Deferred tax liabilities	45,541	459,608
Derivative financial instruments		2,140
Other		6
Total Liabilities	1,579,407	2,026,124
Preferred stock		0
Common stock
Additional paid-in capital	1,599,341	1,599,341
Accumulated other comprehensive income (loss)	3,790	-6,252
Retained earnings (accumulated deficit)	-1,072,729	6,637
Total stockholders' equity	530,402	1,599,726
Total liabilities and stockholders' equity	2,109,809	3,625,850
Successor Company [Member] | Guarantor Subsidiaries [Member]
Trade accounts receivable - net		145
Intercompany receivables	20,213	26,311
Total current assets	20,213	26,456
Net property and equipment	159,808	170,382
Other assets and debt issuance costs, net of accumulated amortization	89	91
Total assets	180,110	196,929
Accounts payable	424	656
Accrued expenses		15
Asset retirement obligations	5,204	6,474
Total current liabilities	5,628	7,145
Asset retirement obligations	41,650	38,956
Deferred tax liabilities	3,767	24,190
Total Liabilities	51,045	70,291
Preferred stock		0
Common stock
Additional paid-in capital	85,479	85,479
Retained earnings (accumulated deficit)	43,586	41,159
Total stockholders' equity	129,065	126,638
Total liabilities and stockholders' equity	180,110	196,929
Successor Company [Member] | Consolidation, Eliminations [Member]
Trade accounts receivable - net	-37
Intercompany receivables	-20,213	-26,311
Total current assets	-20,250	-26,311
Investment in affiliates	-129,065	-126,638
Other assets and debt issuance costs, net of accumulated amortization	-90
Total assets	-149,405	-152,949
Accounts payable	-37
Intercompany payables	-20,213	-26,311
Accrued expenses	-90
Total current liabilities	-20,340	-26,311
Total Liabilities	-20,340	-26,311
Preferred stock		0
Common stock
Additional paid-in capital	-85,479	-85,479
Retained earnings (accumulated deficit)	-43,586	-41,159
Total stockholders' equity	-129,065	-126,638
Total liabilities and stockholders' equity	($149,405)	($152,949)

Supplemental_Condensed_Consoli4

Supplemental Condensed Consolidating Financial Information (Supplemental Condensed Consolidating Statement of Operations) (Details) (USD $)	3 Months Ended	9 Months Ended	3 Months Ended	9 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2015	Mar. 31, 2014	Mar. 31, 2014
Impairment of oil and natural gas properties	$430,900	$1,113,700
Accretion of liability for asset retirement obligations		17,788
Net income (loss)	-310,517	-1,079,366
Other comprehensive income (loss)	-2,182	10,042
Comprehensive loss	-312,699	-1,069,324
Successor Company [Member]
Oil and natural gas	87,253	417,043
Other		932
Total revenue	87,253	417,975
Lease operating	49,571	161,175
Transportation	543	2,317
Impairment of oil and natural gas properties	430,859	1,113,727
Goodwill impairment		329,293
Depreciation, depletion and amortization	73,576	235,868
Accretion of liability for asset retirement obligations	5,509	17,788
Related party cost included in general and administrative expenses	11,998	26,850
Taxes, other than on earnings	3,057	7,529
Other	-3	18
Total costs and expenses	575,110	1,894,565
Income from operations	-487,857	-1,476,590
Interest income	6	10
Interest expense	-12,558	-34,406
Loss on derivative instruments	-579	-635
Total other expense	-13,131	-35,031
Income (loss) before income taxes	-500,988	-1,511,621
Income tax expense (benefit)	-190,471	-432,255
Net income (loss)	-310,517	-1,079,366
Other comprehensive income (loss)	-2,182	10,042
Comprehensive loss	-312,699	-1,069,324
Successor Company [Member] | Parent Company [Member]
Oil and natural gas	79,065	379,502
Other		778
Total revenue	79,065	380,280
Lease operating	49,552	152,170
Transportation	544	2,316
Impairment of oil and natural gas properties	430,859	1,113,727
Goodwill impairment		329,293
Depreciation, depletion and amortization	68,541	218,928
Accretion of liability for asset retirement obligations	4,328	14,580
Related party cost included in general and administrative expenses	11,998	26,850
Taxes, other than on earnings	2,193	2,792
Other	-3	18
Total costs and expenses	568,012	1,860,674
Income from operations	-488,947	-1,480,394
Interest income	6	10
Interest expense	-12,558	-34,406
Loss on derivative instruments	-579	-635
Income (loss) from equity investments	716	2,427
Total other expense	-12,415	-32,604
Income (loss) before income taxes	-501,362	-1,512,998
Income tax expense (benefit)	-190,845	-433,632
Net income (loss)	-310,517	-1,079,366
Other comprehensive income (loss)	-2,182	10,042
Comprehensive loss	-312,699	-1,069,324
Successor Company [Member] | Guarantor Subsidiaries [Member]
Oil and natural gas	8,188	37,541
Other		154
Total revenue	8,188	37,695
Lease operating	19	9,005
Transportation	-1	1
Depreciation, depletion and amortization	5,035	16,940
Accretion of liability for asset retirement obligations	1,181	3,208
Taxes, other than on earnings	864	4,737
Total costs and expenses	7,098	33,891
Income from operations	1,090	3,804
Income (loss) before income taxes	1,090	3,804
Income tax expense (benefit)	374	1,377
Net income (loss)	716	2,427
Comprehensive loss	716	2,427
Successor Company [Member] | Consolidation, Eliminations [Member]
Income (loss) from equity investments	-716	-2,427
Total other expense	-716	-2,427
Income (loss) before income taxes	-716	-2,427
Net income (loss)	-716	-2,427
Comprehensive loss	-716	-2,427
Predecessor Company [Member]
Oil and natural gas			158,470	483,229
Other			1,021	2,864
Total revenue			159,491	486,093
Lease operating			41,734	123,203
Transportation			900	3,125
Exploration expenditures and dry hole costs			4,941	23,033
Impairment of oil and natural gas properties			61	827
Depreciation, depletion and amortization			45,645	146,146
Accretion of liability for asset retirement obligations			6,997	23,098
Related party cost included in general and administrative expenses			10,287	23,923
Taxes, other than on earnings			2,472	8,363
Gain on sales of assets				-1,825
Other			-942	27,457
Total costs and expenses			112,095	377,350
Income from operations			47,396	108,743
Interest income			10	82
Interest expense			-13,304	-39,479
Loss on derivative instruments			-13,142	-68,482
Total other expense			-26,436	-107,879
Income (loss) before income taxes			20,960	864
Income tax expense (benefit)			7,629	875
Net income (loss)			13,331	-11
Predecessor Company [Member] | Parent Company [Member]
Oil and natural gas			141,812	424,970
Other			264	543
Total revenue			142,076	425,513
Lease operating			35,736	105,136
Transportation			899	3,123
Exploration expenditures and dry hole costs			4,941	22,415
Impairment of oil and natural gas properties			61	827
Depreciation, depletion and amortization			40,696	129,764
Accretion of liability for asset retirement obligations			5,788	19,033
Related party cost included in general and administrative expenses			10,287	23,923
Taxes, other than on earnings			177	638
Gain on sales of assets				-1,825
Other			-942	27,330
Total costs and expenses			97,643	330,364
Income from operations			44,433	95,149
Interest income			10	82
Interest expense			-13,304	-39,479
Loss on derivative instruments			-13,142	-68,482
Income (loss) from equity investments			1,884	8,633
Total other expense			-24,552	-99,246
Income (loss) before income taxes			19,881	-4,097
Income tax expense (benefit)			6,550	-4,086
Net income (loss)			13,331	-11
Predecessor Company [Member] | Guarantor Subsidiaries [Member]
Oil and natural gas			16,658	58,259
Other			757	2,321
Total revenue			17,415	60,580
Lease operating			5,998	18,067
Transportation			1	2
Exploration expenditures and dry hole costs				618
Depreciation, depletion and amortization			4,949	16,382
Accretion of liability for asset retirement obligations			1,209	4,065
Taxes, other than on earnings			2,295	7,725
Other				127
Total costs and expenses			14,452	46,986
Income from operations			2,963	13,594
Income (loss) before income taxes			2,963	13,594
Income tax expense (benefit)			1,079	4,961
Net income (loss)			1,884	8,633
Predecessor Company [Member] | Consolidation, Eliminations [Member]
Income (loss) from equity investments			-1,884	-8,633
Total other expense			-1,884	-8,633
Income (loss) before income taxes			-1,884	-8,633
Net income (loss)			($1,884)	($8,633)

Supplemental_Condensed_Consoli5

Supplemental Condensed Consolidating Financial Information (Supplemental Condensed Consolidating Statement of Cash Flows) (Details) (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Cash and cash equivalents at end of period	$95
Successor Company [Member]
Net cash provided by operating activities	90,344
Property acquisitions	-350
Capital expenditures	-271,496
Other property and equipment additions	-58
Net cash used in investing activities	-271,904
Proceeds from (repayments of) indebtedness	-325,000
Proceeds from intercompany promissory note	325,000
Advances from EGC	177,832
Deferred financing costs	-1,089
Proceeds from (Payments for) Other Financing Activities	-689
Net cash provided by financing activities	176,054
Net increase in cash and cash equivalents	-5,506
Cash and cash equivalents at beginning of period	5,601
Cash and cash equivalents at end of period	95
Successor Company [Member] | Parent Company [Member]
Net cash provided by operating activities	83,979
Property acquisitions	-350
Capital expenditures	-265,131
Other property and equipment additions	-58
Net cash used in investing activities	-265,539
Proceeds from (repayments of) indebtedness	-325,000
Proceeds from intercompany promissory note	325,000
Advances from EGC	177,832
Deferred financing costs	-1,089
Proceeds from (Payments for) Other Financing Activities	-689
Net cash provided by financing activities	176,054
Net increase in cash and cash equivalents	-5,506
Cash and cash equivalents at beginning of period	5,601
Cash and cash equivalents at end of period	95
Successor Company [Member] | Guarantor Subsidiaries [Member]
Net cash provided by operating activities	6,365
Capital expenditures	-6,365
Net cash used in investing activities	-6,365
Predecessor Company [Member]
Net cash provided by operating activities		258,023
Decrease in restricted cash		51,757
Property acquisitions		-83,412
Deposit for Nexen Acquisition		-7,040
Capital expenditures		-268,905
Other property and equipment additions		-984
Proceeds from sale of assets		80
Net cash used in investing activities		-308,504
Proceeds from (repayments of) indebtedness		55,000
Deferred financing costs		-206
Purchase of shares into treasury		-4,544
Exercise of stock options		794
Net cash provided by financing activities		51,044
Net increase in cash and cash equivalents		563
Cash and cash equivalents at beginning of period		3,885
Cash and cash equivalents at end of period		4,448
Predecessor Company [Member] | Parent Company [Member]
Net cash provided by operating activities		235,046
Decrease in restricted cash		51,757
Property acquisitions		-83,412
Deposit for Nexen Acquisition		-7,040
Capital expenditures		-245,928
Other property and equipment additions		-984
Proceeds from sale of assets		80
Net cash used in investing activities		-285,527
Proceeds from (repayments of) indebtedness		55,000
Deferred financing costs		-206
Purchase of shares into treasury		-4,544
Exercise of stock options		794
Net cash provided by financing activities		51,044
Net increase in cash and cash equivalents		563
Cash and cash equivalents at beginning of period		3,885
Cash and cash equivalents at end of period		4,448
Predecessor Company [Member] | Guarantor Subsidiaries [Member]
Net cash provided by operating activities		22,977
Capital expenditures		-22,977
Net cash used in investing activities		($22,977)