EXCO Resources, Inc. September Investor Presentation September 2013
September Investor Presentation EXCO Resources, Inc. Company Overview Premier shale gas producer well positioned for future value creation Renewed focus on opportunistic acquisition activity Current acquisition economics remain…
September Investor Presentation Introduction Solid year to date 2013 financial results Resulting from discipline around capital deployment and cost management Established foundation for additional future growth through Eagle…
September Investor Presentation Strategic Focus Grow EBITDA/Cash Flow of the company through successful execution of recent acquisitions and evaluation of additional drilling partnerships to minimize CAPEX and add…
September Investor Presentation Recent Acquisition Strategic Rationale Approximately 60% of purchase price allocated to proved developed wellbores Significant PDP Significant cash flow from producing assets; trailing 12 month…
September Investor Presentation Financial Topics Eagle Ford KKR Development Structure 2013 EBITDA and CAPEX Update Liquidity Review 7
September Investor Presentation Eagle Ford KKR Development Structure EXCO purchased 100% of the PDP assets in the Eagle Ford The undeveloped Eagle Ford locations are drilled and developed under a development agreement with…
September Investor Presentation Eagle Ford KKR Development Structure Key points KKR drilling return is capped at 1.2x invested drilling capital Cash flow in 1st year gets credited at buyout (KKR generates vast majority of their…
September Investor Presentation Single Well Net Production Example (Mboe/d) 10 Partnership Economics ( in millions) Gross KKR XCO 9 3.1 MM D&C CAPEX (66.7% WI) 4.8 3.6 1.2 8 Operating CF Hurdle (1.2x MOIC) 1.2x 1.2x 1.2x…
September Investor Presentation Total Program Illustrative Example 300 wells over 4 years Capital to Drill KKR Perspective Drilling EXCO Perspective Drilling Fund Returns Fund Returns 300 Eagle Ford Wells 7.2 million per well WI…
September Investor Presentation Total Program Illustrative Example ( in millions) Project Cash Flow Drilling & Completion Capital Fair Maket Value At Buyout KKR XCO KKR XCO KKR XCO Drilling & completion capital invested 1,080 360…
September Investor Presentation Liquidity Review EXCO/ HGI EXCO Resources Partnership TGGT ( in thousands) 6/30/2013 7/31/2013 6/30/2013 6/30/2013 Cash and restricted cash 118,600 85,660 17,223 14,926 Amount drawn on bank…
September Investor Presentation Conclusions Scheduled quarterly acquisitions of producing properties Producing properties that can be readily financed through a secured borrowing base Acquisitions help offset declining reserve…
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