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Q4 and Full Year 2016 Review – Exco Resources Inc.

Exco Resources Inc. · Mar 20, 2017 · 14 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 and Full Year 2016 Review – Exco Resources Inc. – slide 1
    Fourth Quarter & Full Year 2016 Review Hal Hickey Chief Executive Officer Harold Jameson Chief Operating Officer Tyler Farquharson Chief Financial Officer March 20, 2017
  2. Q4 and Full Year 2016 Review – Exco Resources Inc. – slide 2
    Strategic Plan Update Focus Area Improvement Plan Update Improve Debt Structure To Issued 300MM in new 1.5 Lien Notes and exchanged 683MM in existing 2nd Lien Provide Structural Liquidity Term Loans for new 1.75 Lien Term Loans. These…
  3. Q4 and Full Year 2016 Review – Exco Resources Inc. – slide 3
    300 Million Issuance Of Secured Debt To Provide Liquidity For Drilling Program Item Key Highlights Secured Debt With Low Interest is payable on the 1.5 Lien Notes in cash at a rate of 8% per annum, or at EXCO's Cash Coupon With…
  4. Q4 and Full Year 2016 Review – Exco Resources Inc. – slide 4
    Capital Transaction Detail Sources & Uses Cap Table MM 1 MM 2 % Sources Of Cash 12/31/2016 Pro Forma Change New 1.5 Lien Notes 300 Cash And Restricted Cash2 20 42 110% Credit Agreement1 229 0 (100)% 1.5 Lien Notes 0 300 N/A…
  5. Q4 and Full Year 2016 Review – Exco Resources Inc. – slide 5
    EXCO Overview: Three Concentrated Resource Positions Operating Area Overview 1 Core Basins 2 East Texas and North Louisiana Net Acres/%HBP1 96,300/87% Appalachia Q4 16 Operated Rigs 0 Q4 16 Net Production (Mmcfe/d) 209 12/31/16…
  6. Q4 and Full Year 2016 Review – Exco Resources Inc. – slide 6
    Improve Drilling And Completion Performance To Improve Capital Returns NLA Cumulative Gas vs. Time ETX Cumulative Gas vs. Time Mcf; Days 1 Mcf; Days 2 3,500,000 4,500,000 4,000,000 3,000,000 60% 3,500,000 2,500,000 23% 3,000,000…
  7. Q4 and Full Year 2016 Review – Exco Resources Inc. – slide 7
    High Quality Drilling Inventory Drilling Inventory1 Breakeven Price Required for 25% IRR (/Mcf)2; Gross/Net Locations 1 4.00 331 Gross Locations (95 Net) with Breakeven Prices Below 3.00/Mcf 250 331 Gross Locations (95 Net) with…
  8. Q4 and Full Year 2016 Review – Exco Resources Inc. – slide 8
    Financial And Operational Results Quarter-to-Date Year-to-Date 4Q 16 3Q 16 4Q 15 4Q 16 4Q 15 Factors Unit Actual Actual % Change 1 Actual % Change 1 Actual Actual % Change 1 Rig Count 0 0 0 3 (100) 1 4 (75) Gross/Net Wells Drilled…
  9. Q4 and Full Year 2016 Review – Exco Resources Inc. – slide 9
    Actuals To Guidance Comparison Three Months Ended 4Q 16 4Q 16 Guidance 1Q 17 Guidance Factors Unit Actual Low High Low High Wells Spud (Gross/Net) 0/0.0 0/0.0 5/3.9 Wells Turned To Sales (Gross/Net) 1/0.4 0/0.0 0/0.0…
  10. Q4 and Full Year 2016 Review – Exco Resources Inc. – slide 10
    Hedge Positions Twelve Months Ended Twelve Months Ended 12/31/17 12/31/18 Factors Unit Volume Price Volume Price Natural Gas Bbtu, Fixed Price Swaps - Henry Hub /Mmbtu 38,300 3.02 3,650 3.15 Collars - Henry Hub Bbtu 10,950…
  11. Q4 and Full Year 2016 Review – Exco Resources Inc. – slide 11
    Appendix
  12. Q4 and Full Year 2016 Review – Exco Resources Inc. – slide 12
    Key Transaction Terms Item Format 300MM 1.5 Lien Notes 1 683MM of existing 2nd Lien Term Loans exchanged for new 1.75 Lien Term Loans Issue Price 100% 2 Closing Date March 15, 2017 3 Maturity Date March 20, 2022 4 Use of…
  13. Q4 and Full Year 2016 Review – Exco Resources Inc. – slide 13
    Single Well Economics Internal Type Curves NLA NLA NLA NLA Caddo Caddo Bossier ETX ETX ETX DeSoto X-Unit Standard X-Unit Shelby Highlander Highlander Unit Core Lateral Lateral Lateral HSVL HSVL BSSR 1 Target Lateral Length Ft 4,500…
  14. Q4 and Full Year 2016 Review – Exco Resources Inc. – slide 14
    Non-GAAP Measures and Reconciliations Consolidated EBITDA and Adjusted EBITDA Reconciliations Three Months Ended Year Ended (in thousands) December 31, 2016 September 30, 2016 December 31, 2015 December 31, 2016 December 31, 2015 Net…

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