Management Participants Hal Hickey President and COO Mark Mulhern EVP and CFO
Company Overview Total EXCO Appalachia Net Production(1): 454 Mmcfe/d Net Production: 65 Mmcfe/d NYSE Ticker: XCO Net shale acreage: 262,800 Total Employees: 700 Net shale acreage: 145,000 Pennsylvania West Virginia East Texas / North…
East Texas/North Louisiana Haynesville & Bossier Shale Year-end EXCO shale gas production 318 MMcfe/d1 net including OBO 439 EXCO operated wells flowing to sales (369 LA / 70 TX) 178 non-operated wells 1,206 gross EXCO operated…
Haynesville Horizontal Drilling Optimization Holly Area Days from Spud to Total Depth (TD) 6 wells/section 107 acre spacing 33 days spud to rig release 14 frac stages 4,200 lateral 11,500 12,500 True Vertical Depth (TVD); 16,500…
Eagle Ford Operations Current net acreage: 47,800 net acres 11,300 net in Core 102,000 Farm-in option Core Area Year-end production: 6,700 BO/d net1 140 producing Eagle Ford wells Focus on base production operations; we are enhancing…
Applying Haynesville Competencies to Eagle Ford Core area identified 84 wells planned to spud 2014 2014 wells Utilizing shale expertise and realizing significant operational efficiencies Manufacturing mode Walking rig added…
Appalachia Year-end EXCO production1 65 MMcfe/d net including conventional production 52 MMcfe/d net Marcellus 124 horizontal Marcellus wells; 6,500 conventional wells Net prospective shale acreage of 145,000 (70% HBP) Four core…
Executed 2013 Goals Efficiently Focus Resources Manage Balance Develop Existing on A&D Sheet Asset Base Sold conventional assets to EXCO/HGI Partnership in February for net cash proceeds to EXCO of 575 million and retained a…
2014 Goals Focus on execution of development program Disciplined capital spending Efficiently Develop Partnership structure significantly reduces Eagle Ford drilling & completion capital burden Existing Asset Base Project 16…
2014 Capital Budget of 368 Million Plan to spud 134 gross wells (36.2 net) and turn to sales 119 gross wells (33.1 net) in 2014 Capital budget spend is within Adjusted EBITDA Development 7% 5% Lease purchases 368MM Seismic…
Q4 and FY 2013 Highlights Financial Operational Adjusted EBITDA Safety Q4 2013 - 124 million Q4 2013 - 0.00 Total Recordable Incident FY 2013 - 418 million Rate (TRIR) Exceeded our mid-point guidance FY 2013 - 1.25 Total Recordable…
Financial Highlights ( in thousands) Q3 2013 Q4 2013 FY 2013 Average production (Mmcfe/d) 455 446 444 Average realized price (/Mcfe) 3.95 4.39 3.92 Revenues including cash settlements 172,757 194,143 672,967 Direct operating…
Positive De-leveraging Momentum Have paid down 581 million of debt since September 30, 2013; improved liquidity to 537 million November sale of TGGT resulted in 240 million reduction of Asset Sale Requirement Rights offering resulted…
Sale of Non-Operated West Texas Asset Timeline In 2012, EXCO acquired 15,000 prospective net acres in Irion County In March 2013, sold 7,500 net acres to private operator Leased 2,000 net adjacent acres Drilled 5 wells and completed…
Enhanced Liquidity Pro Forma liquidity increased by 314 million to 537 million since Q3 2013 12/31/2013 EXCO Resources, Inc. PF for PF for W. ( in thousands) Actual Rights Texas Sale Cash and restricted cash 66,518 66,518 66,518…
Closing Remarks We are executing on our strategy & delivering on our commitments Closed 1 billion of acquisitions Entered into drilling partnership Sold TGGT Resulting in lower leverage and strong Closed rights offering liquidity…
EXCO Resources, Inc. Appendix
2013 Year End SEC Reserves1 2013 YE SEC Year end SEC proved reserves are 1.1 Proved Reserves: Appalachia Pennsylvania Tcfe with 1.3 billion PV-101 1,124 Bcfe Proved Total: 181 Bcfe West Proved developed represents 66% of…
Proved Reserves, PV-10 and Adjusted EBITDA Proved Reserves and PV-10 The PV-10 data used in the slide was based on reference prices using the simple average of the spot prices for the trailing 12 month period using the first day of each…
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