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Q4 2011 Review – Exco Resources Inc.

Exco Resources Inc. · Feb 24, 2012 · 22 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. Q4 2011 Review – Exco Resources Inc. – slide 1
    EXCO Resources, Inc. Fourth Quarter and Full Year 2011 Review February 24, 2012 PPT 253 2011 Full Year Review
  2. Q4 2011 Review – Exco Resources Inc. – slide 2
    PPT 253 2011 Full Year Review Management Participants Doug Miller Chairman and CEO Steve Smith President and CFO Hal Hickey Vice President and COO Paul Rudnicki Vice President 2
  3. Q4 2011 Review – Exco Resources Inc. – slide 3
    PPT 253 2011 Full Year Review 2011 Accomplishments Achieved operational targets Averaged 552 Mmcfe/d for the 4th quarter Averaged 501 Mmcfe/d for the year Direct operating costs decreased on a per unit basis by 39%…
  4. Q4 2011 Review – Exco Resources Inc. – slide 4
    PPT 253 2011 Full Year Review Industry Trends Continued strong shale production growth and a warm winter has led to the current depressed price environment Implied demand has increased as a result of low gas prices Industry…
  5. Q4 2011 Review – Exco Resources Inc. – slide 5
    PPT 253 2011 Full Year Review 2012 Goals Manage balance sheet and cash flows in low gas price environment Continue Haynesville development in core area of DeSoto Parish; reduce all other Haynesville activity Continue Marcellus…
  6. Q4 2011 Review – Exco Resources Inc. – slide 6
    EXCO Resources, Inc. Corporate Overview Steve Smith President and Chief Financial Officer PPT 253 2011 Full Year Review
  7. Q4 2011 Review – Exco Resources Inc. – slide 7
    PPT 253 2011 Full Year Review Corporate Overview YOY % Q4 2011 Full Year 2011 Full Year 2010 Change Average production (Mmcfe/d) 552 501 307 63% Average Realized Price (/Mcf) 3.26 3.85 4.29 -10% Revenues including cash…
  8. Q4 2011 Review – Exco Resources Inc. – slide 8
    PPT 253 2011 Full Year Review Unit costs improving as a result of shale development (per Mcfe) Q4 2010 2010 Q1 2011 Q2 2011 Q3 2011 Q4 2011 2011 Oil and natural gas revenues 4.19 4.60 4.40 4.54 4.17 3.52 4.13 Cash operating…
  9. Q4 2011 Review – Exco Resources Inc. – slide 9
    PPT 253 2011 Full Year Review Production and Debt Profile Potential TGGT Transaction Leverage Metrics /Mcf 2009 2010 2011 More than replaced production monetized Debt/Adjusted EBITDA 1.6 x 3.6 x 3.1 x from 2009 2010…
  10. Q4 2011 Review – Exco Resources Inc. – slide 10
    PPT 253 2011 Full Year Review Liquidity and Derivative Position Liquidity: in thousands 12/31/2011 2/17/2012 Cash and restricted cash 187,922 150,383 Pursuing additional liquidity transactions Bank debt (LIBOR + 1.5% to 2.5%)…
  11. Q4 2011 Review – Exco Resources Inc. – slide 11
    EXCO Resources, Inc. Financial Summary and Guidance Paul Rudnicki VP Financial Planning & Analysis PPT 253 2011 Full Year Review
  12. Q4 2011 Review – Exco Resources Inc. – slide 12
    PPT 253 2011 Full Year Review Fourth Quarter 2011 Guidance vs. Actuals Fourth Quarter 2011 Guidance: Guidance: (dollars in thousands, except per unit amounts) Low High Actual Variance Explanations Production: Oil - Mbbls 173 181…
  13. Q4 2011 Review – Exco Resources Inc. – slide 13
    PPT 253 2011 Full Year Review 2012 Guidance Q1 2012E Q2 2012E Q3 2012E Q4 2012E 2012E (dollars in thousands, except per unit amounts) Low High Low High Low High Low High Low High Production: Oil - Mbbls 184 190 188 194 186 194 182…
  14. Q4 2011 Review – Exco Resources Inc. – slide 14
    EXCO Resources, Inc. Operational Update Hal Hickey Chief Operating Officer PPT 253 2011 Full Year Review
  15. Q4 2011 Review – Exco Resources Inc. – slide 15
    PPT 253 2011 Full Year Review High quality portfolio focused on shale resources Replaced 110% of 2011 Proved Reserves = 1.3 Tcfe production Net Production(1) = 545 Mmcfe/d Net acreage: 495,800 Appalachia Pennsylvania Total…
  16. Q4 2011 Review – Exco Resources Inc. – slide 16
    PPT 253 2011 Full Year Review Revised 2012 Capital Budget 2012 development plan focused on managing Current Rig Count cash flow in a low natural gas price environment Permian 1 2012 revised capital budget of 470(1)(2) million…
  17. Q4 2011 Review – Exco Resources Inc. – slide 17
    PPT 253 2011 Full Year Review Cost Reduction Initiatives Capital Reducing operated rig count Focus on well development cost Ended 2011 at 9.5 million well cost in Holly Haynesville; estimating 8.9 million currently and…
  18. Q4 2011 Review – Exco Resources Inc. – slide 18
    PPT 253 2011 Full Year Review East Texas/North Louisiana Shale Defining the Sweet Spot is critical Current operated shale production 1.2 Bcf/d gross Including OBO (operated by others), net production totals 403 Mmcf/d as of…
  19. Q4 2011 Review – Exco Resources Inc. – slide 19
    PPT 253 2011 Full Year Review Appalachia Measured Marcellus Ramp-up in process Excellent recent results from 4 rig program; 3 are in Northeast Development Area Marcellus milestones ahead: Currently producing 110 Mmcf/d gross…
  20. Q4 2011 Review – Exco Resources Inc. – slide 20
    PPT 253 2011 Full Year Review Non-shale Conventional Assets 1.2 Tcf of reserves and resources potential Conventional assets represent 22% of our net production(1) Production Breakdown (Mmcf/d) Permian: 21 Mmcfe/d (45% oil)…
  21. Q4 2011 Review – Exco Resources Inc. – slide 21
    PPT 253 2011 Full Year Review Permian Basin Area Overview Overview Map of Operations 25,800 net acres under development at Sugg Ranch Long-life reserves in mature oil field Low operating cost with multiple reservoir…
  22. Q4 2011 Review – Exco Resources Inc. – slide 22
    PPT 253 2011 Full Year Review TGGT Holdings, LLC Throughput currently at 1.5 Bcf/d Average Q4 throughput exceeded 1.5 Bcf/d TGGT System Holly: 1,006 Mmcf/d Shelby: 213 Mmcf/d Legacy East Texas: 322 Mmcf/d Holly Initiating start…

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