Profile: EXCO Resources Inc (XCO.N)
29 Sep 2016
EXCO Resources, Inc. (EXCO), incorporated on October 17, 1955, is an oil and natural gas company. The Company is engaged in the exploration, exploitation, acquisition, development and production of onshore United States oil and natural gas properties with a focus on shale resource plays. The Company's principal operations are conducted in certain United States oil and natural gas areas, including Texas, Louisiana and the Appalachia region. The Company holds acreage positions in approximately three shale plays in the United States, including East Texas and North Louisiana, South Texas and Appalachia. In East Texas and North Louisiana, the Company holds approximately 83,800 net acres in the Haynesville and Bossier shales. In South Texas, it holds approximately 65,800 net acres in the Eagle Ford shale. In Appalachia, the Company holds approximately 137,400 net acres prospective in the Marcellus shale.
East Texas and North Louisiana
The Company's operations in East Texas and North Louisiana are focused on the Haynesville and Bossier shales, which are primarily located in Shelby, San Augustine and Nacogdoches Counties in Texas and DeSoto and Caddo Parishes in Louisiana. The Company's acreage in this region is predominantly held-by-production. The Haynesville shale is located at depths of 12,000 to 14,500 feet and is being developed with horizontal wells that have 4,300 to 7,500 foot laterals. Its position in the Holly area consists of approximately 29,200 net acres in DeSoto Parish and over 8,600 net acres in Caddo Parish, which are all held-by-production. The Company has approximately 410 gross (over 205.9 net) operated horizontal wells flowing to sales. It has drilled approximately 1.7 net operated wells and turned-to-sales over 18 gross (approximately 11.9 net) operated wells in the Haynesville shale.
The Company's acreage is primarily located in Harrison, Panola, Shelby, San Augustine and Nacogdoches Counties in Texas and is predominantly held-by-production. The Haynesville and Bossier shales in East Texas are being developed with horizontal wells that have 6,000 to 7,500 foot laterals. Its position in the Shelby area primarily consists of approximately 31,400 net acres and includes a portion that is subject to continuous drilling obligations. It has approximately 97 gross (over 43.6 net) operated horizontal wells flowing to sales.
The Company's position in South Texas region is held-by-production. The Company's acreage in the Eagle Ford shale is in the oil window and averages 375 feet in gross thickness at vertical depths ranging from 5,400 to 6,800 feet. Its lateral lengths average 7,400 feet and range from 5,000 to 9,000 feet and the total measured depth averages 14,600 feet. Its acreage in the area also includes additional upside information, such as the Austin Chalk, Buda and Pearsall formations. The Company has a total of approximately 235 gross (over 112.7 net) operated horizontal wells flowing to sales. It has drilled approximately 10 gross (over 2.8 net) wells and turned-to-sales over 30 gross (approximately 7.7 net) wells in the Eagle Ford shale. In the Buda formation, it has drilled and turned-to-sales over four gross (approximately 3.3 net) wells and participated in over three gross (approximately 0.5 net). Its average oil production in South Texas is approximately 6,500 net barrels of oil per day.
The Company's operations in the Appalachia region have included testing and selectively developing the Marcellus shale with horizontal drilling while maintaining its existing conventional production from shallow vertical wells. The Company holds approximately 269,800 net acres in the Appalachian basin. It has a total of approximately 5,510 gross (over 2,626.9 net) operated vertical shallow wells flowing to sales with an average production rate of approximately 10 net million cubic feet equivalent (Mmcfe) per day. It operates a total of approximately 130 gross (over 46.2 net) horizontal wells in the Marcellus shale with an average production rate of approximately 25 net Mmcfe per day. Its production in the Appalachia region is approximately 40 net Mmcfe per day.
The Company's Pennsylvania acreage encompasses approximately 22 counties. The Company's drilling, completion and production activities target the Marcellus shale, as well as the Upper Devonian, Venanago, Bradford and Elk sandstone groups at depths ranging from 1,800 to 12,000 feet. Its West Virginia area includes approximately 30 counties and stretches from the northern to the southern areas of the state. Drilling, completion and production activities target the Marcellus shale and multiple reservoirs of the Mississippian and Devonian formations found at depths ranging from 1,500 to 8,100 feet.
EXCO Resources Inc
12377 Merit Dr Ste 1700
DALLAS TX 75251-2256
Company Web Links
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- BRIEF-Exco Resources announces early tender offer results
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- BRIEF-Exco Resources streamlines board with concentrated equity ownership