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Q2 2015 REVIEW – Exco Resources Inc.

Exco Resources Inc. · Jul 27, 2015 · 31 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. Q2 2015 REVIEW – Exco Resources Inc. – slide 1
    Second Quarter 2015 Review Hal Hickey Chief Executive Officer Harold Jameson Chief Operating Officer Ricky Burnett Chief Financial Officer July 27, 2015
  2. Q2 2015 REVIEW – Exco Resources Inc. – slide 2
    Highlights And Recent Developments EXCO Overview Operational And Financial Results Appendix 2
  3. Q2 2015 REVIEW – Exco Resources Inc. – slide 3
    EXCO Back-To-Basics Strategy And Highlights Focus Area Improvement Plan Previous EXCO Approach New EXCO Approach Improve Debt Structure To Utilization of revolver for all liquidity Consider issuing term debt to enhance liquidity and…
  4. Q2 2015 REVIEW – Exco Resources Inc. – slide 4
    Second Quarter Operational And Financial Highlights Category Second Quarter Highlights Improve Debt Structure To Amended credit agreement, reduced borrowing base to 600 million and enhanced ability to issue junior secured Provide…
  5. Q2 2015 REVIEW – Exco Resources Inc. – slide 5
    Highlights And Recent Developments EXCO Overview Operational And Financial Results Appendix 5
  6. Q2 2015 REVIEW – Exco Resources Inc. – slide 6
    EXCO Overview: Three Concentrated Resource Positions Operating Area Overview 1 Core Basins 2 East Texas And North Louisiana Net Acres 97,800 Appalachia Operated Rigs 3 Q2 15 Net Production (Mmcfe/d) 271 East Texas / Year End…
  7. Q2 2015 REVIEW – Exco Resources Inc. – slide 7
    East Texas Overview Operating Area Overview 1 Area Of Operations 2 Attribute Key Features Total Acreage 46,100 net acres (45,800 shale) 72% HBP Active Wells 89 wells flowing to sales Production Q2 15: 40 Mmcfe/d Targeted Haynesville…
  8. Q2 2015 REVIEW – Exco Resources Inc. – slide 8
    Improve Economics Through Disciplined Execution And Cost Reductions East Texas Lateral Length And Days To Drill East Texas D&C Cost Per Lateral Foot 10-15E; ft; Days 1 10-15E; /ft 2 8,0 00 Days to drill 70 59 7,0 00 54 52…
  9. Q2 2015 REVIEW – Exco Resources Inc. – slide 9
    East Texas Offset Well Results Activity Summary 1 Activity Map 2 6 Months Operat Lat. 3 Months Cum Well Name or Length Cum Prod Prod Proppant Mmcf / Mmcf / Ft 000ft 000ft lbs/ft EXCO Proved Type Curve (EUR 1.5 Bcf/'000ft) EXCO…
  10. Q2 2015 REVIEW – Exco Resources Inc. – slide 10
    East Texas Well Results Continue To Improve Productivity Index versus Cumulative Production 1 EXCO Shelby Well Performance Comparison 2 Recognized technical method for EUR forecasting 1.75+ BCF/1,000 Technique is essential to…
  11. Q2 2015 REVIEW – Exco Resources Inc. – slide 11
    Opportunities Identified To Further Improve Well Economics East Texas Well Cost And Days To Drill Improvement Potential Highlights 1 10-15E; MM; Days 2 Q2 15 proved reserves of 1.5 Bcf per 1,000 feet of 16 Days to drillto drill Days…
  12. Q2 2015 REVIEW – Exco Resources Inc. – slide 12
    East Texas Type Curve And Sensitivity Target Single Well Economics Sensitivities Of Well Economics1 15; Mixed Measures 1 15; NPV-10/IRR, MM/% 2 Item Unit Metrics EUR, Bcf/1,000 Target Lateral Ft 6,870 NPV-10/IRR, Gross Locations…
  13. Q2 2015 REVIEW – Exco Resources Inc. – slide 13
    North Louisiana Overview Operating Area Overview 1 Area Of Operations 2 Attribute Key Features Total Acreage 51,700 net acres (38,200 shale) 100% HBP Active Wells 414 wells flowing to sales Production Q2 15: 231 Mmcfe/d Targeted…
  14. Q2 2015 REVIEW – Exco Resources Inc. – slide 14
    Improve Economics Through Disciplined Execution And Cost Reductions North Louisiana Lateral Length And Days To Drill North Louisiana D&C Cost Per Lateral Foot 10-15E; ft, Days 1 10-15E; /ft 2 4,4 00 47 Days to drill 50 41 45…
  15. Q2 2015 REVIEW – Exco Resources Inc. – slide 15
    North Louisiana Offset Well Results Activity Summary 1 Activity Map 2 Lat. 3 Months 6 Months Well Name Operator Length Cum Prod Cum Prod Proppant Mmcf / Mmcf / Ft 000ft 000ft lbs/ft EXCO Proved Type Curve (EUR 1.9 Bcf/'000ft)…
  16. Q2 2015 REVIEW – Exco Resources Inc. – slide 16
    North Louisiana Performance Improvement Potential Productivity Index versus Cumulative Production 1 North Louisiana Core Performance Comparison 2 Empirical Data Confirms Improvement Potential Comparative data on multiple sections that…
  17. Q2 2015 REVIEW – Exco Resources Inc. – slide 17
    North Louisiana Performance Improvement Opportunities Double Well Economics North Louisiana Well Cost And Days To Drill Improvement Potential Highlights 1 10-15E; MM, Days 2 Currently analyzing data and assessing potential 47 Days to…
  18. Q2 2015 REVIEW – Exco Resources Inc. – slide 18
    North Louisiana Type Curve And Sensitivity Target Single Well Economics Sensitivities Of Well Economics2 15; Mixed Measures 1 15; NPV-10/IRR, MM/% 2 Item Unit Metrics EUR, Bcf/1,000 Target Lateral Ft 4,300 NPV-10/IRR, Gross…
  19. Q2 2015 REVIEW – Exco Resources Inc. – slide 19
    South Texas Overview Operating Area Overview 1 Area Of Operations 2 Attribute Key Features Total Acreage 65,900 net acres 80% HBP; 83% prospective for Buda Active Wells 238 wells flowing to sales Production Q2 15: 7,167 Boe/d…
  20. Q2 2015 REVIEW – Exco Resources Inc. – slide 20
    Improve Economics Through Disciplined Execution And Cost Reduction Eagle Ford Lateral Length And Days To Drill Eagle Ford D&C Cost Per Lateral Foot 13-15E; ft, Days 1 13-15E; /ft 2 Days to drill 22 7,8 00 25 7,6 00 20…
  21. Q2 2015 REVIEW – Exco Resources Inc. – slide 21
    Appalachia Overview Operating Area Overview 1 Area Of Operations 2 Attribute Key Features Total Acreage 281,100 net acres (148,800 shale) 80% HBP (shale) Active Wells 126 Marcellus flowing to sales 5,709 conventional flowing to…
  22. Q2 2015 REVIEW – Exco Resources Inc. – slide 22
    Highlights And Recent Developments EXCO Overview Operational And Financial Results Appendix 22
  23. Q2 2015 REVIEW – Exco Resources Inc. – slide 23
    Second Quarter 2015 Financial And Operational Results Three Months Ended Six Months Ended 2Q 15 1Q 15 2Q 14 2Q 15 2Q 14 Factors Unit Actual Actual % Change Actual % Change Actual Actual % Change Rig Count 4 4 - 9 (56) 4 9 (56) Net…
  24. Q2 2015 REVIEW – Exco Resources Inc. – slide 24
    Second Quarter 2015 Cash Flow Results Three Months Ended Six Months Ended 2Q 15 1Q 15 2Q 14 2Q 15 2Q 14 Factors Unit Actual Actual % Change Actual % Change Actual Actual % Change Cash Flow Provided By (Used In) Operating…
  25. Q2 2015 REVIEW – Exco Resources Inc. – slide 25
    Second Quarter 2015 Debt And Liquidity Three Months Ended 2Q 15 1Q 15 2Q 14 Factors Unit Actual Actual % Change Actual % Change Debt Schedule Cash And Restricted Cash MM 67 48 40 53 26 Amount Drawn On RBL MM 292 247 18 182 60 2018…
  26. Q2 2015 REVIEW – Exco Resources Inc. – slide 26
    2015 Financial And Operational Guidance Guidance 2Q 15 2Q 15 3Q 15 FY 15 Factors Unit Actual Low High Low High Low High Rig Count 4 N/A N/A N/A N/A 4 Net Wells Drilled 4.4 N/A N/A N/A N/A 22.6 Net Wells Turned To Sales 5.7 N/A N/A…
  27. Q2 2015 REVIEW – Exco Resources Inc. – slide 27
    Hedge Positions Six Months Ended Twelve Months Ended Twelve Months Ended 12/31/15 12/31/16 12/31/17 Factors Unit Volume Price Volume Price Volume Price Natural Gas Fixed Price Swaps - Henry Hub Bbtu, /Mmbtu 25,300 4.02 16,470 3.30…
  28. Q2 2015 REVIEW – Exco Resources Inc. – slide 28
    Highlights And Recent Developments EXCO Overview Operational And Financial Results Appendix 28
  29. Q2 2015 REVIEW – Exco Resources Inc. – slide 29
    June 30, 2015 Price Deck Henry Hub Natural Gas Prices WTI Crude Oil Prices Year /Mcf /Bbl 2015 2.93 60.30 2016 3.17 62.08 2017 3.36 63.62 2018 3.44 65.18 2019 3.51 66.42 2020 3.61 67.44 Terminal 4.00 70.00 29
  30. Q2 2015 REVIEW – Exco Resources Inc. – slide 30
    Single Well Economics Internal Type Curves ETX ETX NLA STX Shelby Shelby DeSoto Eagle Ford STX NLA Unit HSVL Bossier Core Tier 2 Buda CCM 1 Target Lateral Length Ft 6,870 6,870 4,300 7,500 9,000 7,500 2 1P Gross Locations 6/30/15 76 7…
  31. Q2 2015 REVIEW – Exco Resources Inc. – slide 31
    EBITDA, Adjusted EBITDA, Adjusted Operating Cash Flow and Free Cash Flow Reconciliations EBITDA, Adjusted EBITDA, Adjusted Operating Cash Flow and Free Cash Flow Earnings before interest, taxes, depreciation, depletion and amortization…

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