First Quarter 2010 Review May 2010 PPT-143 - Q1 2010 Review
PPT-143 Q12010 Review Management Participants Doug Miller Chairman and CEO Steve Smith President and CFO Hal Hickey Vice President and COO Paul Rudnicki Vice President EXCO Resources, Inc. 2
PPT-143 Q12010 Review Introduction Continued Haynesville success First horizontal Bossier test in DeSoto Parish Common Resources, LLC acquisition Capital spending Marcellus development EXCO Resources, Inc. 3
Results and Corporate Highlights Steve Smith PPT-143 - Q1 2010 Review
PPT-143 Q12010 Review Corporate Highlights Continued success in the Haynesville Completed 19 operated Haynesville wells during the quarter; current net production in excess of 120 Mmcf/d Evaluating additional bolt on acreage /…
PPT-143 Q12010 Review Corporate Highlights Pro Forma Q1 2010 Q1 2009 Q1 2009(1)(4) (in thousands, except per share and production) Amount Per Share(3) Amount Per Share(3) Amount Oil and natural gas revenues 130,994 172,208…
PPT-143 Q12010 Review Net Cash Operating Margin(1) Operating cost Production tax Gathering expense Cash operating margin Realized price before hedges 12.00 10.00 Average realized price including 8.00 hedge…
Financial Review and Outlook Paul Rudnicki PPT-143 - Q1 2010 Review
PPT-143 Q12010 Review Liquidity and Financial Position Pro Forma Consolidated ( in thousands) March 31, 2010 Common March 31, 2010 Cash(1) 117,792 - 117,792 Bank debt (L + 175 - 250bps) 762,543 223,000 985,543 Senior notes…
PPT-143 Q12010 Review Derivatives Position As of March 31, 2010 NYMEX Contract Contract Contract natural gas price per NYMEX oil price per Equivalent price per Percent Mmcf Mcf Mbls Bbl Mmcfe Equivalent hedged(1) Q2 2010 13,803…
PPT-143 Q12010 Review Capital Forecast Apr - Dec Total 2010 ( in millions) Q1 Actuals 2010 Budget Budget East Texas / North Louisiana 68 187 255 Appalachia 42 112 154 Permian and other 8 21 29 Corporate 12 13 25 Total…
PPT-143 Q12010 Review First Quarter 2010 Guidance vs. Actuals First Quarter 2010 Guidance: Guidance: (dollars in thousands, except per unit amounts) Low High Actual Description Production: Oil - Mbbls 126 138 159 Gas - Mmcf…
PPT-143 Q12010 Review Quarterly 2010 Guidance Q1 2010 Q2 2010E Q3 2010E Q4 2010E 2010 (dollars in thousands, except per unit amounts) Actual Low High Low High Low High Low High Production: Oil - Mbbls 159 131 143 133 144 132…
Operations and Development Update Hal Hickey PPT-143 - Q1 2010 Review
PPT-143 Q12010 Review 2010 Focus Organic growth via the Haynesville and Marcellus Shales Capital spending Continue to monitor development program in light of weak natural gas prices and increased drilling and completion service…
PPT-143 Q12010 Review 2010 Capital Program Evaluating development pace in light of current pricing environment, increased service costs and Common acquisition Flexibility to adjust development level and pace due to high HBP…
PPT-143 Q12010 Review Production Profile Achieved our 2009 strategic plan; positioned for significant growth 450 3,500 Completed significant 400 3,000 divestment program in 2009 Outstanding net debt ( in millions)…
PPT-143 Q12010 Review Haynesville Assets and Efforts AR TX 53,500 net Haynesville acres EXCO / BG LA (69,000 pro forma for Common transaction); significant held by JV Area production position Average IP rate from our…
PPT-143 Q12010 Review Common Resources Haynesville and Middle Bossier assets Bossier 9 Mmcf/d IP Located in Shelby Trough in Shelby, San Augustine & Nacogdoches Counties, TX Bossier Eight horizontal shale wells flowing to…
PPT-143 Q12010 Review TGGT Midstream Operations TGGT East TX / North LA System Construction of 36 inch, 29 mile Haynesville header system completed Throughput capacity in excess of 1.5 Bcf/d with the opportunity to increase…
PPT-143 Q12010 Review Marcellus Activity Drilling program underway Plan 11 horizontals in 2010 Built-for-purpose drilling rig under long term contract delivered February 2010 Negotiating to add two additional rigs…
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