Third Quarter Review November 2009 PPT-121-Q3-09Review
PPT-121-Q3-09Review 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-121-Q3-09Review Introduction Transformational Quarter Closed our Joint Venture Transactions with BG Group 1.0 billion of cash and 400 million future drilling carry Closed 440 million of asset sales year-to-date with…
Financial Review Steve Smith PPT-121-Q3-09Review
PPT-121-Q3-09Review Delivering What We Promise Executing on our 2009 strategic plans 9Joint venture partner Joint venture with BG Group positions EXCO for dramatic upstream and midstream growth Received 1.0 billion of cash and…
PPT-121-Q3-09Review Financial Summary and Outlook Well hedged Over 60% for 2010 Prepared to deliver significant, sustained organic production growth Shale development and production growth have and will result in decreasing…
PPT-121-Q3-09Review Corporate Highlights Reported strong results despite market conditions and divestitures Q3 2009 Q2 2009 Q3 2008 (in thousands, except per share and production) Amount Per Share Amount Per Share Amount Per…
PPT-121-Q3-09Review JV Transaction and Divestitures Recognized 460.6 million of book gains for JVs and divestitures closed in Q3 Reduced goodwill associated with JVs and divestitures by 145.3 million Evaluating Q4…
PPT-121-Q3-09Review Liquidity and Financial Position Pro forma for remaining 2009 divestitures Remaining 2009 As of September 30, 2009 ( in thousands) Actual (1) Divestitures(2) Pro Forma Cash(3) 125,664 (14,500) 111,164…
PPT-121-Q3-09Review Derivatives Position NYMEX Contract Contract Equivalent Contract natural gas price per NYMEX oil price per Per day price per Percent (in thousands, except price) Mmbtu Mmbtu Bbls Bbl Hedged Equivalent…
PPT-121-Q3-09Review Third Quarter 2009 Guidance vs. Actuals Third Quarter 2009 Guidance: Guidance: (dollars in thousands, except per unit amounts) Low High Actual Production: Oil - Mbbls 347 359 355 Gas - Mmcf 30,100 30,900…
PPT-121-Q3-09Review Quarterly 2009 Guidance Q1 2009 Q2 2009 Q3 2009 Q4 2009E 2009E (dollars in thousands, except per unit amounts) Actual Actual Actual Low High Low High Production: Oil - Mbbls 527 485 355 160 170 1,527 1,537…
Operational Review Hal Hickey PPT-121-Q3-09Review
PPT-121-Q3-09Review 2009 Focus Focus on opportunities that provide growth and strong returns Developing Haynesville shale Expanding Midstream in East Texas / North Louisiana Testing Marcellus acreage in preparation for 2010…
PPT-121-Q3-09Review Reserve Base Pro forma for BG transaction and 2009 divestiture program(1) Proved Reserves = 1.2 Tcfe Appalachia 3P Reserves = 3.0 Tcfe Proved: 0.3 Tcfe 3P+ Reserves = 11.6 17.2 Tcfe 3P: 0.5 Tcfe 3P+: 7.5 13.1…
PPT-121-Q3-09Review Haynesville Assets and Efforts 44,000 net Haynesville acres Actively working to acquire 14,000 15,000 net acres to the joint venture Significant additional opportunities continue to be identified 2009…
PPT-121-Q3-09Review EXCO Operated Horizontal Haynesville Shale Production Currently 18 wells producing; nine completions expected in Q4 2009 with an additional 24 completions in Q1 2010 EXCO Haynesville Production East Texas / North…
PPT-121-Q3-09Review Haynesville Operations Snapshot Production: 213 Mmcf/d gross, 40.7 Mmcf/d net on 10/16/2009 Operated: 160.2 Mmcf/d gross, 37 Mmcf/d net OBO: 52.6 Mmcf/d gross, 3.7 Mmcf/d net Cumulative gross Haynesville…
PPT-121-Q3-09Review Bossier The next frontier Top Bossier +/- 10,000 Top Haynesville +/- 11,500 Top Limestone +/- 11,900 Potential net gas in place on the JV acreage is 17 Tcf Recovery factor to be determined EXCO…
PPT-121-Q3-09Review EXCO Midstream Operations East Texas / North Louisiana Positioned for growth Finalized first stage of 36 inch diameter Haynesville header system Adding high pressure flow lines to gather production; all of…
PPT-121-Q3-09Review Marcellus Opportunity Largest areal extent of the major Marcellus Fairway shale plays EXCO has 348,000 net acres in the play Approximately 223,000 net acres in the over-pressured Marcellus Fairway…
PPT-121-Q3-09Review Current Marcellus Activity Preparing to implement horizontal program Drill verticals to test the play: Obtain additional reservoir data (core, 2009 Drilling Program pressure data, etc.) Test drilling,…
PPT-121-Q3-09Review Other Operation Areas Mid-Continent Closed sale of Norge Marchand Unit and other non-strategic properties in August 2009 Agreed to sell remaining Mid-Continent assets, with closing scheduled for Q4 2009…
PPT-121-Q3-09Review Capital Forecast 2009 YTD Q4 2009 Capital Capital FY 2009 2009 ( in millions) Spending Forecast Forecast Budget Drilling, completion and exploitation Conventional 101.8 19.6 121.4 152.0 (30.6)…
Loading...
