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Q4 2015 Full Year Review – Exco Resources Inc.

Exco Resources Inc. · Mar 2, 2016 · 24 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 2015 Full Year Review – Exco Resources Inc. – slide 1
    Fourth Quarter & Full Year 2015 Review Hal Hickey Chief Executive Officer Harold Jameson Chief Operating Officer Ricky Burnett Chief Financial Officer March 2, 2016
  2. Q4 2015 Full Year Review – Exco Resources Inc. – slide 2
    In 2015 EXCO Took Decisive Action To Strengthen The Business Q1 15 Q2 15 Q3 15 Q4 15 Service Entered into a services and Appointed C. John Wilder Agreement investment agreement with Executive Chairman, leading a subsidiary of…
  3. Q4 2015 Full Year Review – Exco Resources Inc. – slide 3
    Targeting Additional Improvements To Cash Flow Is EXCOs Focus For 2016 Focus Area Improvement Plan 15 Review 16 Focus Improve Debt Structure To Reduced debt principal by 304MM Re-affirm borrowing base Provide Structural Liquidity…
  4. Q4 2015 Full Year Review – Exco Resources Inc. – slide 4
    1: Improve Debt Structure To Provide Structural Liquidity Pre and Post Debt Restructuring 15-16; Mixed Measures 1 15 & Early 16 Accomplishments 2 Raised 300MM 2nd Lien Term Loan new money at Pre Res. Post Res. Delta 12.5% from 3rd…
  5. Q4 2015 Full Year Review – Exco Resources Inc. – slide 5
    2 Restructure Gathering And Transportation Contracts To Enhance Liquidity ETX & NLA Gross Transportation Commitments 16; MM 1 15 & Early 16 Accomplishments 2 Renegotiated North Louisiana transportation contracts realizing annual…
  6. Q4 2015 Full Year Review – Exco Resources Inc. – slide 6
    3: Reduce G&A Load To Reduce Fixed Cost Burden G&A Reduction 15-16; Mixed Measures 1 15 Run Rate Pre Q4 15 Run Rate Post Q4 Unit Headcount Reduction1 Headcount Reduction2 16 Run Rate Target3 Annualized Cash G&A MM 57 34…
  7. Q4 2015 Full Year Review – Exco Resources Inc. – slide 7
    4: Improve Drilling And Completion Performance To Improve Capital Returns ETX Drilling Days Versus Depth NLA Drilling Days Versus Depth 15; ft, Days 1 16; ft, Days 2 0 0 AFE 46 Days AFE 31 Days 5,000 AVG 39 Days 5,000 AVG 26 Days…
  8. Q4 2015 Full Year Review – Exco Resources Inc. – slide 8
    5: Implement A Liquidity Driven Prioritized Capital Allocation System To Ensure Highest And Best Use of Capital Capital Program Overview Capital Budget By Type 16; Mixed Measures 1 16; MM 2 Category Category Descriptions Approved 70MM…
  9. Q4 2015 Full Year Review – Exco Resources Inc. – slide 9
    Sufficient Asset Coverage For The Borrowing Base SEC Proved Reserves1 15; Mixed Measures 1 1P Reserves By Area (907 Bcfe) 1P SEC PV-10 By Area (402MM) 1P Reserves By Commodity APP APP Oil STX 52 NLA 6 NLA 14% 129 485 91 STX 207…
  10. Q4 2015 Full Year Review – Exco Resources Inc. – slide 10
    No Near Term Maturities Debt Principal And Liquidity Debt Principal Maturity Profile As Of Feb. 16 4Q 15; Mixed Measures 1 16-22; MM 2 4Q 15 Factors Unit Actual Debt Schedule Cash And Restricted Cash1 MM 33 Credit Agreement MM…
  11. Q4 2015 Full Year Review – Exco Resources Inc. – slide 11
    Fourth Quarter And Full Year 2015 Financial And Operational Results Three Months Ended Twelve Months Ended 4Q 15 3Q 15 4Q 14 12/31/15 12/31/14 Factors Unit Actual Actual % Change Actual % Change Actual Actual % Change Rig Count 3 4…
  12. Q4 2015 Full Year Review – Exco Resources Inc. – slide 12
    Actuals To Guidance Comparison Three Months Ended Twelve Months Ended 4Q 15 4Q 15 Guidance 12/31/15 12/31/15 Guidance Factors Unit Actual Low High Actual Low High Rig Count 3 NA 4 4 Wells Drilled (Net) 2.7 NA 17.8 17.6 Wells…
  13. Q4 2015 Full Year Review – Exco Resources Inc. – slide 13
    1H 16 Guidance Guidance 4Q 15 1Q 16 2Q 16 Factors Unit Actual Low High Low High Rig Count 3 2 2 Wells Drilled (Gross/Net) 2.7 5/4.3 4/3.0 Wells Turned To Sales (Gross/Net) 4.3 8/3.6 6/5.1 Production Oil Mbbl 609 525 535…
  14. Q4 2015 Full Year Review – Exco Resources Inc. – slide 14
    Hedge Positions1 Twelve Months Ended Twelve Months Ended Twelve Months Ended 12/31/16 12/31/17 12/31/18 Factors Unit Volume Price Volume2 Price Volume Price Natural Gas Fixed Price Swaps - Henry Hub Bbtu, /Mmbtu 53,670 2.90…
  15. Q4 2015 Full Year Review – Exco Resources Inc. – slide 15
    Appendix
  16. Q4 2015 Full Year Review – Exco Resources Inc. – slide 16
    EXCO Overview: Three Concentrated Resource Positions Operating Area Overview 1 Core Basins 2 East Texas And North Louisiana Net Acres/%HBP 1 97,600/96% Appalachia Q4 15 Operated Rigs 3 Q4 15 Net Production (Mmcfe/d) 238 East…
  17. Q4 2015 Full Year Review – Exco Resources Inc. – slide 17
    East Texas Overview Operating Area Overview 1 Area Of Operations 2 Attribute Key Features Total Acreage 46,100 net acres (45,800 shale) 88% HBP Active Wells 97 wells flowing to sales Production Q4 15: 64 Mmcfe/d Targeted Haynesville…
  18. Q4 2015 Full Year Review – Exco Resources Inc. – slide 18
    Improve Economics Through Disciplined Execution And Cost Reductions East Texas Lateral Length And Days To Drill East Texas D&C Cost Per Lateral Foot 10-16E; ft; Days2 1 10-16E; /ft1,2 2 8,0 00 Days to drill 70 59 7,0 00…
  19. Q4 2015 Full Year Review – Exco Resources Inc. – slide 19
    North Louisiana Overview Operating Area Overview 1 Area Of Operations 2 Attribute Key Features Total Acreage 51,500 net acres (38,000 shale) 100% HBP Active Wells 413 wells flowing to sales Production Q4 15: 174 Mmcfe/d Targeted…
  20. Q4 2015 Full Year Review – Exco Resources Inc. – slide 20
    Improve Economics Through Disciplined Execution And Cost Reductions North Louisiana Lateral Length And Days To Drill North Louisiana D&C Cost Per Lateral Foot 10-16E; ft, Days 1 10-16E; /ft 2 4,6 00 47 Days to drill 50 4,5 00 41…
  21. Q4 2015 Full Year Review – Exco Resources Inc. – slide 21
    South Texas Overview Operating Area Overview 1 Area Of Operations 2 Attribute Key Features Total Acreage 65,800 net acres 81% HBP (100% Core) Active Wells 235 wells Production Q4 15: 7.3 MBoe/d Targeted Eagle Ford Formations Buda…
  22. Q4 2015 Full Year Review – Exco Resources Inc. – slide 22
    Appalachia Overview Operating Area Overview 1 Area Of Operations 2 Attribute Key Features Total Acreage 269,800 net acres (137,400 shale) 84% HBP (shale) Active Wells 126 Marcellus flowing to sales 5,509 conventional flowing to…
  23. Q4 2015 Full Year Review – Exco Resources Inc. – slide 23
    Single Well Economics Internal Type Curves ETX ETX Shelby NLA Unit Shelby HSVL Bossier DeSoto Core 1 Target Lateral Length Ft 7,500 7,500 4,500 2 Gross Locations 75 101 33 3 Net Locations 31 43 16 4 WI % 41 43 47 5 NRI % 31 33 36 6…
  24. Q4 2015 Full Year Review – Exco Resources Inc. – slide 24
    EBITDA, Adjusted EBITDA, Adjusted Operating Cash Flow and Free Cash Flow Reconciliations 24

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