EXCO Resources, Inc. Fourth Quarter and Full Year 2013 Review February 26, 2014
Management Participants Hal Hickey President and COO Mark Mulhern EVP and CFO
Fourth Quarter and Full Year 2013 Review Q4 and FY 2013 Highlights Financial Operational Adjusted EBITDA Drilled and completed Q4 2013 - 124 million Q4 2013 - 26 gross (11.8 net) operated wells FY 2013 - 418 million FY 2013 - 99…
Fourth Quarter and Full Year 2013 Review Executed 2013 Goals Efficiently Focus Resources Manage Balance Develop Existing on A&D Sheet Asset Base Sold conventional assets to EXCO/HGI Partnership in February for net cash…
Fourth Quarter and Full Year 2013 Review 2014 Goals Focus on execution of development program Disciplined capital spending Efficiently Develop Partnership structure significantly reduces Eagle Ford drilling & completion capital…
Fourth Quarter and Full Year 2013 Review Sale of Non-Operated West Texas Asset Timeline In 2012, EXCO acquired 15,000 prospective net acres in Irion County In March 2013, sold 7,500 net acres to private operator Leased 2,000 net…
Fourth Quarter and Full Year 2013 Review 2013 Year End SEC Reserves1 2013 YE SEC Year end SEC proved reserves are 1.1 Proved Reserves: Appalachia Pennsylvania Tcfe with 1.3 billion PV-101 1,124 Bcfe Proved Total: 181 Bcfe…
Fourth Quarter and Full Year 2013 Review 2014 Capital Budget of 368 Million Plan to spud 134 gross wells (36.2 net) and turn to sales 119 gross wells (33.1 net) in 2014 Capital budget spend is within Adjusted EBITDA…
Fourth Quarter and Full Year 2013 Review East Texas/North Louisiana Haynesville & Bossier Shale Year-end EXCO shale gas production 318 MMcfe/d1 net including OBO 439 EXCO operated wells flowing to sales (369 LA / 70 TX) 178…
Fourth Quarter and Full Year 2013 Review Haynesville Horizontal Drilling Optimization Holly Area Days from Spud to Total Depth (TD) 6 wells/section 107 acre spacing 33 days spud to rig release 14 frac stages 4,200 lateral…
Fourth Quarter and Full Year 2013 Review Eagle Ford Operations Current net acreage: 47,800 net acres Core 11,300 net in Core Area 102,000 Farm-in option Year-end production: 6,700 BO/d net1 140 producing Eagle Ford wells…
Fourth Quarter and Full Year 2013 Review Appalachia Year-end EXCO production1 65 MMcfe/d net including conventional production 52 MMcfe/d net Marcellus 124 horizontal Marcellus wells; 6,500 conventional wells Net prospective…
Fourth Quarter and Full Year 2013 Review Financial Highlights ( in thousands) Q3 2013 Q4 2013 FY 2013 Average production (Mmcfe/d) 455 446 444 Average realized price (/Mcfe) 3.95 4.39 3.92 Revenues including cash settlements…
Fourth Quarter and Full Year 2013 Review Positive De-leveraging Momentum November sale of TGGT resulted in 240 million reduction of Asset Sale Requirement Rights offering resulted in proceeds of 273 million 29 million fully…
Fourth Quarter and Full Year 2013 Review Enhanced Liquidity Pro Forma liquidity increased by 311 million to 534 million since Q3 2013 12/31/2013 EXCO Resources, Inc. PF for PF for W. ( in thousands) Actual Rights Texas Sale…
Fourth Quarter and Full Year 2013 Review EXCO Q1 and Full Year 2014 Guidance Q1 2014 2014 Production: LOW HIGH LOW HIGH Oil (Mbbls) 480 530 2,030 2,220 Natural gas liquids (Mbbls) 60 70 270 290 Natural gas (Mmcf) 32,800 33,300…
Fourth Quarter and Full Year 2013 Review Conclusion Executing our strategy & delivering on our commitments Closed 1 billion of acquisitions Entered into drilling partnership Sold TGGT Resulting in lower leverage and strong…
EXCO Resources, Inc. Appendix
Fourth Quarter and Full Year 2013 Review Current Hedge Position1 EXCO Resources, Inc. Gas 2014 2015 Swap (Mmbtus) 85,239,500 28,287,500 Strike 4.23 4.31 Call (Mmbtus) 20,075,000 20,075,000 Strike 4.29 4.29 Oil 2014 2015 2…
Fourth Quarter and Full Year 2013 Review Proved Reserves, PV-10 and Adjusted EBITDA Proved Reserves and PV10 The PV10 data used in the slide was based on reference prices using the simple average of the spot prices for the trailing…
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