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Q3 2015 Quarterly Review – Exco Resources Inc.

Exco Resources Inc. · Oct 28, 2015 · 27 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. Q3 2015 Quarterly Review – Exco Resources Inc. – slide 1
    Third Quarter 2015 Review Hal Hickey Chief Executive Officer Harold Jameson Chief Operating Officer Ricky Burnett Chief Financial Officer October 28, 2015
  2. Q3 2015 Quarterly Review – Exco Resources Inc. – slide 2
    Highlights And Recent Developments Operating And Asset Review Financial Results Appendix 2
  3. Q3 2015 Quarterly Review – Exco Resources Inc. – slide 3
    Execution Of Strategic Improvement Plan Focus Area Update Closed a series of transactions that enhance liquidity, reduce debt and provide revolving credit agreement covenant flexibility Overall effect is a reduction in net debt of…
  4. Q3 2015 Quarterly Review – Exco Resources Inc. – slide 4
    Line Of Sight To Reduce Fixed Cost Burden G&A Reduction Cost Saving Initiatives 1 14-15; MM 2 Liability management transactions improve forward cash flow by approximately 146 million and increase liquidity by 18% Realized 10…
  5. Q3 2015 Quarterly Review – Exco Resources Inc. – slide 5
    Highlights And Recent Developments Operating And Asset Review Financial Results Appendix 5
  6. Q3 2015 Quarterly 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 Acres1 97,800 Appalachia Q3 15 Operated Rigs 3 Q3 15 Net Production (Mmcfe/d) 249 East Texas / Year…
  7. Q3 2015 Quarterly 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 92 wells flowing to sales Production Q3 15: 52 Mmcfe/d Targeted Haynesville…
  8. Q3 2015 Quarterly 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; /ft1 2 8,0 00 Days to drill 70 59 7,0 00 54…
  9. Q3 2015 Quarterly Review – Exco Resources Inc. – slide 9
    Increased Proppant Delivers Improved Well Performance And Higher EURs East Texas Well Performance Productivity Index Versus Cumulative Gas 1 New South HSVL Test (2,700 lbs/ft) 1.75 Bcf/1,000 2011 Vintage Non Rate-Restricted 4…
  10. Q3 2015 Quarterly Review – Exco Resources Inc. – slide 10
    Opportunities Identified To Further Improve Well Economics East Texas Well Cost And Days To Drill Improvement Potential Highlights 1 10-Current; MM; Days 2 Current 3rd party proved reserves of 1.5 Bcf per 1,000 16 Days to drillto…
  11. Q3 2015 Quarterly Review – Exco Resources Inc. – slide 11
    East Texas Type Curve And Sensitivity Target Single Well Economics Sensitivities Of Well Economics3 15; Mixed Measures 1 15; NPV-10/IRR, MM/% 2 Item Unit Metrics EUR, Bcf/1,000 Target Lateral1 Ft 7,500 NPV-10/IRR, Gross Locations2…
  12. Q3 2015 Quarterly Review – Exco Resources Inc. – slide 12
    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 Over 400 wells flowing to sales Production Q3 15: 197 Mmcfe/d…
  13. Q3 2015 Quarterly Review – Exco Resources Inc. – slide 13
    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…
  14. Q3 2015 Quarterly Review – Exco Resources Inc. – slide 14
    North Louisiana Activity Focused On Larger Completions And Longer Laterals Commentary 1 North Louisiana Activity Map 2 North Louisiana Haynesville re-rated by new completion design and supported by empirical data Wells completed…
  15. Q3 2015 Quarterly Review – Exco Resources Inc. – slide 15
    North Louisiana Performance Improvement Opportunities Double Well Economics North Louisiana Well Cost And Days To Drill Improvement Potential Highlights 1 10-Current; MM, Days 2 Current 3rd party proved reserves of 1.9 Bcf per 1,000…
  16. Q3 2015 Quarterly Review – Exco Resources Inc. – slide 16
    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…
  17. Q3 2015 Quarterly Review – Exco Resources Inc. – slide 17
    South Texas Overview Operating Area Overview 1 Area Of Operations 2 Attribute Key Features Total Acreage 65,900 net acres 81% HBP Active Wells Over 230 wells flowing to sales Production Q3 15: 7.3 MBoe/d Targeted Eagle Ford…
  18. Q3 2015 Quarterly Review – Exco Resources Inc. – slide 18
    Appalachia Overview Operating Area Overview 1 Area Of Operations 2 Attribute Key Features Total Acreage 281,100 net acres (148,800 shale) 82% HBP (shale) Active Wells Over 125 Marcellus flowing to sales Over 5,700 conventional…
  19. Q3 2015 Quarterly Review – Exco Resources Inc. – slide 19
    Liability Management Update Transaction Overview 1 Pro Forma Capitalization And Liquidity 2 Significantly enhanced balance sheet via two tranches of second Sept lien term loan and revolving credit agreement amendment 30 Pro Reduces…
  20. Q3 2015 Quarterly Review – Exco Resources Inc. – slide 20
    Third Quarter 2015 Financial And Operational Results Three Months Ended Nine Months Ended 3Q 15 2Q 15 3Q 14 3Q 15 3Q 14 Factors Unit Actual Actual % Change Actual % Change Actual Actual % Change Rig Count 4 4 - 8 (50) 4 9 (56) Net…
  21. Q3 2015 Quarterly Review – Exco Resources Inc. – slide 21
    Third Quarter 2015 Cash Flow Results Three Months Ended Nine Months Ended 3Q 15 2Q 15 3Q 14 3Q 15 3Q 14 Factors Unit Actual Actual % Change Actual % Change Actual Actual % Change Cash Flow Provided By (Used In) Operating…
  22. Q3 2015 Quarterly Review – Exco Resources Inc. – slide 22
    Third Quarter 2015 Debt And Liquidity Three Months Ended 3Q 15 3Q 15 2Q 15 3Q 14 Factors Unit Actual Pro Forma1 Actual % Change Actual % Change Debt Schedule Cash And Restricted Cash MM 42 42 67 (37) 65 (35) Credit Agreement MM 300 15…
  23. Q3 2015 Quarterly Review – Exco Resources Inc. – slide 23
    2015 Financial And Operational Guidance Guidance 3Q 15 3Q 15 4Q 15 FY 15 Factors Unit Actual Low High Low High Low High Rig Count 4 N/A N/A 3 4 Net Wells Drilled 5.2 N/A N/A 2.6 17.6 Net Wells Turned To Sales 4.6 N/A N/A 4.2 29.3…
  24. Q3 2015 Quarterly Review – Exco Resources Inc. – slide 24
    Hedge Positions Three Months Ended Twelve Months Ended Twelve Months Ended Twelve Months Ended 12/31/15 12/31/16 12/31/17 12/31/18 Factors Unit Volume Price Volume Price Volume Price Natural Gas Fixed Price Swaps - Bbtu, Henry Hub…
  25. Q3 2015 Quarterly Review – Exco Resources Inc. – slide 25
    September 30, 2015 Price Deck Henry Hub Natural Gas Prices WTI Crude Oil Prices Year /Mcf /Bbl 2015 2.62 45.70 2016 2.81 49.23 2017 2.99 52.74 2018 3.05 55.19 2019 3.11 56.97 2020 3.21 58.18 Terminal 3.50 62.50 27
  26. Q3 2015 Quarterly Review – Exco Resources Inc. – slide 26
    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 7,500 7,500 4,300 7,500 9,000 7,500 2 Gross Locations 78 102 33 129…
  27. Q3 2015 Quarterly Review – Exco Resources Inc. – slide 27
    EBITDA, Adjusted EBITDA, Adjusted Operating Cash Flow and Free Cash Flow Reconciliations 29

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