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EXCO Resources Inc (XCO.N)

XCO.N on New York Stock Exchange

0.50USD
21 Apr 2017
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Latest Key Developments (Source: Significant Developments)

Exco Resources to divest South Texas oil, and gas properties
Monday, 10 Apr 2017 08:00am EDT 

Exco Resources Inc : Exco Resources executes agreement to divest south texas oil and natural gas properties . Exco Resources Inc- purchase price of $300 million is subject to customary closing conditions . Exco Resources-properties to be divested include interests in oil & natural gas properties,surface acreage in zavala, frio and dimmit counties in Texas . Exco Resources - intends to use proceeds to fund drilling, development of its core haynesville and bossier shale assets in North Louisiana and East Texas . Exco Resources - after closing of sale, borrowing base under company's revolving credit agreement will be $100 million .Exco Resources Inc - next borrowing base redetermination under credit agreement is set to occur in november 2017.  Full Article

Exco resources reports Q4 GAAP loss per share of $0.12
Thursday, 16 Mar 2017 07:00am EDT 

Exco Resources Inc : Reports fourth quarter and full year 2016 results . Q4 adjusted non-GAAP earnings per share $0.00 . Q4 GAAP loss per share $0.12 . Produced 263 MMCFE per day, or 24 BCFE, for Q4 2016 .Company plans to drill 5 gross wells during Q1 2017 that will be completed and turned-to-sales in second and Q3 2017.  Full Article

Exco Resources says is evaluating potential sale of its oil & natural gas properties in South Texas
Wednesday, 15 Mar 2017 03:03pm EDT 

Exco Resources Inc : Exco Resources announces transformational capital structure transactions . Says issued $300 million in 1.5 lien notes that include option to pay interest in-kind in common shares or additional debt . Issued $300 million in 1.5 lien notes that include option to pay interest in-kind in common shares or additional debt . Says increased pro forma liquidity by $116 million, calculated as cash plus available borrowing capacity under credit agreement . Proceeds from issuance were primarily utilized to repay all outstanding indebtedness under credit agreement . Exchanged $683 million of second lien term loans for a like amount of 1.75 lien term loans . Says amended credit agreement to establish a borrowing base of $150 million, permit issuance of 1.5 lien notes and 1.75 lien term loans . Exco plans to pursue additional transactions to improve its capital structure and liquidity . Anticipates transactions will enhance capital structure, provide option to improve future cash flows and establish structural liquidity . Reduced potential cash interest payments up to $109 million/year,or $433 million through maturity,with option to pay interest in common shares . Currently evaluating potential sale of its oil and natural gas properties in South Texas . Will also seek approval to amend its charter to increase number of shares authorized for issuance or to effect a reverse stock split.  Full Article

EXCO Resources announces changes in board
Friday, 3 Mar 2017 04:05pm EST 

Exco Resources Inc : EXCO Resources Inc Announces changes to board of directors . EXCO Resources Inc - resignation of Wilbur L. Ross from company's board of directors .EXCO Resources Inc - appointment of Anthony R. Horton and Stephen J. Toy to board.  Full Article

Exco Resources appointed Tyler Farquharson as company's cfo
Thursday, 2 Feb 2017 04:13pm EST 

Exco Resources Inc : Appointed Tyler Farquharson as company's chief financial officer and treasurer .Exco Resources - Farquharson will continue to serve as co's principal financial officer, is to be identified as 'named executive officer' for co's FY 2017.  Full Article

Exco Resources Inc sees Q3 total production 25.3 - 26.2 BCFE
Thursday, 22 Sep 2016 06:34am EDT 

EXCO Resources Inc : EXCO Resources Inc sees Fy total production 102.5 - 109.8 BCFE - SEC filing .EXCO Resources Inc sees Q3 total production 25.3 - 26.2 BCFE - SEC filing.  Full Article

Exco Resources says Chris Peracchi will become acting CFO
Monday, 22 Aug 2016 06:00am EDT 

Exco Resources Inc : Exco Resources, inc. Announces management changes . Chris Peracchi, vice president of finance and investor relations, and treasurer, will become vice president and acting cfo .Says Chris Peracchi, will become cfo effective august 22, 2016 following departure of richard a. Burnett.  Full Article

Exco Resources announces early tender offer results
Wednesday, 10 Aug 2016 06:00am EDT 

Exco Resources Inc :Exco Resources Inc announces early tender offer results for its 7.500% senior notes due 2018 and 8.500% senior notes due 2022 and receipt of consents to amend the indenture governing its 8.500% senior notes due 2022.  Full Article

Exco Resources Q2 adjusted non-gaap loss per share $0.05
Tuesday, 2 Aug 2016 04:19pm EDT 

Exco Resources Inc : Q2 adjusted non-gaap loss per share $0.05 . Exco resources, inc. Reports second quarter 2016 results . Q2 gaap loss per share $0.40 . Produced 296 mmcfe per day, or 27 bcfe, for q2 2016, consistent with q1 2016 . Implemented several initiatives to reduce lease operating costs and g&a expenses, including significant reductions in workforce . In appalachia region, company reduced work schedule of certain employees .Reduced total employees by 28%, including 20% of general and administrative employees and 38% of its field employees, since q4 2015.  Full Article

Exco Resources says it is unlikely co will comply with all covenants under revolving credit facility
Thursday, 28 Jul 2016 06:05am EDT 

Exco Resources Inc : As of june 30, 2016, company was in compliance with financial covenants under its revolving credit facility . Does not believe it will be able to comply with all of covenants under its revolving credit facility . Some factors raise substantial doubt about company's ability to continue as a going concern . Liquidity,Ability to maintain compliance with debt covenants have been negatively impacted by depressed oil, natural gas prices .Ability to continue planned principal business operations would be dependent on actions of its lenders or obtaining additional debt.  Full Article

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BRIEF-Exco Resources to divest South Texas oil, and gas properties

* Exco Resources executes agreement to divest south texas oil and natural gas properties