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EXCO Resources has entered into forebearance agreements in regard to its credit agreement.
This comes shortly after EXCO announced it was out of NYSE compliance due to its shares being below the $1.00 mark for over 30 days.
In early November 2017, Shale Experts speculated that the company was potentially headed for bankruptcy after the company's executive chairman John Wilder resigned.
The Company also announced it has received a commitment for a $250 million debtor-in-possession financing in the event that the Company elects to pursue a filing of voluntary petitions under Chapter 11 of the U.S. Bankruptcy Code.
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