Exco Resources Inc · OTC:EXCE
Exco Resources — Presentation (January 2018)
23 slides from Exco Resources's investor presentation, Jan 17, 2018
Slide 1: Project Pelican Cleansing materials
Project Pelican Cleansing materials January 2018 Exhibit 99.2
Slide 2: Disclaimer
Disclaimer Tis dacumont contain high confidential norman ais sly fr infrmatoal poses: You shoud not ly upon or uso tt fom the transactior You and your affiliates and agents must hold this document nthis teen aswel ae any information Goived by you fom the reprodi person, or refer to it publicly, in w
Slide 3: Asset Overview; Additional Information
Asset Overview 4 I Additional Information 16 II
Slide 4: I. Asset Overview
|. Asset Overview Confidential DRAFT
Slide 5: EXCO has a strong collection of assets with significant near-term drilling opportunities
EXCO has a strong collection of assets, with significant near-term drilling opportunities as well as the potential to develop contingent acreage for which financial resources were unable to be allocated given the strained market environment. Gas-levered portfolio with significant, high quality drill
Slide 6: Operating Area Overview
Operating Area Overview Net Production (mmcfe/d) East Texas and North Louisiana Net Acres/%HBP(1) 96,300/87% Q2 ‘17 Operating Rigs 4 Q2 ‘17 Net Production (Mmcfe/d) 177 12/31/16 Proved Reserves (Bcfe) 1,110 Drilling Inventory 529 gross locations South Texas Net Acres/%HBP(1) 49,300/95% Q2 ‘17 Operat
Slide 7: Drilling Inventory
Gross Locations 49 45 17 57 24 38 32 65 63 89 48 43 167 71 Source: Company presentations. As of 9/29/17. Drilling Inventory BREAKEVEN PRICE REQUIRED FOR 25% IRR EXCO has economic drilling inventory that can support the Company’s capital plan for at least the next 5 years without pricing or well perf
Slide 8: North Louisiana Overview
Net Production (Mmcfe / d) As of 12/31/16. North Louisiana Attribute Key Features Total Acreage(1) 50,800 net acres (38,000 shale) 100% HBP Active Wells 424 operated wells flowing to sales Production Q2 2017: 131 Mmcfe/d Targeted Formations Haynesville Bossier Q2 ‘17 Results Produced 131 Mmcfe/d, a
Slide 9: East Texas Overview
Net production (mmcfe / d) As of 12/31/16. Reflects ~10k acres that requires continuous development obligation of two wells per year. East Texas Attribute Key Features Total Acreage(1) 45,500 net acres •74% HBP(2) Active Wells 104 operated wells flowing to sales Production •Q2 2017: 46 Mmcfe/d Targe
Slide 10: South Texas Overview
Net production (Boe / D) As of 12/31/16. South Texas Attribute Key Features Total Acreage(1) 49,300 net acres 93% HBP (100% Core) Active Wells 235 operated wells Production Q2 2017: 3.7 MBoe/d Targeted Formations Eagle Ford Buda Austin Chalk Q2 ‘17 Results Produced 3.7 Mboe/d, a decrease of 0.3 Mboe
Slide 11: Appalachia Overview
Appalachia overview As of 12/31/16. Appalachia Attribute Key Features Total Acreage(1) •184,100 net acres (127,000 shale) 90% HBP (shale) Active Wells 126 operated wells Production •Q2 2017: 29 Mmcfe/d Targeted Formations Marcellus Upper Devonian Utica Q2 ‘17 Results Produced 29 Mmcfe/d, a decrease
Slide 12: Recent Performance Improvement
The Company has had recent success across its basin positions in increasing estimated ultimate recoveries, primarily with enhanced completion methods. Source: Company presentations as of November 2017. Recent Performance Improvement 12 Old forecast, not necessarily representative of Company’s curren
Slide 13: Utica
Note: As of November 2017. Utica Testing in the Utica could result in proving of current contingent, under-exploited reserves EXCO holds 40,000 net acres prospective for Utica dry gas with up to 860 gross locations (670 Op/190 OBO); Contingent Net Reserves of ~4 TCF based on 3.0 Bcf/1000’ type curve
Slide 14: Bossier
Note: As of November 2017. Bossier Staggered Bossier wells could yield more locations EXCO has approximately 30,000 net acres in the Bossier formation in DeSoto Parish with 167 gross operated locations / 132 OBO locations 3P+ net reserves of 900 Bcf Currently EXCO has 5 producing wells in NLA in the
Slide 15: Other Drilling Opportunities
Note: As of November 2017. Other Drilling Opportunities Modern Harrison / Panola Haynesville completion design EXCO’s last well in this area was in 2010 but there has been offset operator success Rock quality indicates that larger completion designs could have a positive uplift on economics Haynesvi
Slide 16: II. Additional Information
|. Additional Information Confidential DRAFT
Slide 17: Management Team
Management Team Name Years with EXCO Past Experience Harold L. Hickey Chief Executive Officer & President 16 years Appointed Chief Executive Officer in March 2015 and President since February 2013 Previously served as Chief Operating Officer from October 2005 until March 2015 and Vice President from
Slide 18: Organization Chart
Note: Based upon conversations with Counsel, it appears that substantially all assets have been pledged and liens perfected. Under the sixth amendment to the 2022 Notes, EXCO Equipment Leasing, LLC is listed as a guarantor, but the entity was dissolved in 2015. BG Production Company, LLC (DE) is the
Slide 19: Debt Maturity Schedule and Existing Capital Structure
Debt Maturity Schedule Source: CapIQ, Markit, Bloomberg, Company filings. Note: Data as of 10/17/17. RBL and cash balance shown pro forma for revolver draws post 9/7/17. RBL amount outstanding does not include LCs outstanding. Including LCs, the total balance is $150mm. Cash interest rates are 8% an
Slide 20: Well Details: North Louisiana
Well Details Note: As of November 2017. Economics shown on an 8/8ths basis; IRR assumes $3.00/MMBtu. North Louisiana Well Level Details Type curves 20 Old forecast, not necessarily representative of Company’s current business plan and financial forecast
Slide 21: Well Details: East Texas
Well Details Note: As of November 2017. Economics shown on an 8/8ths basis; IRR assumes $3.00/MMBtu. East Texas Well Level Details Type curves 21 Old forecast, not necessarily representative of Company’s current business plan and financial forecast
Slide 22: Well Details: South Texas (Eagle Ford)
Well Details Note: As of November 2017. Economics shown on an 8/8ths basis; IRR assumes $3.00/MMBtu and $50.00/bbl. South Texas (Eagle Ford) Well Level Details Type curves 22 Old forecast, not necessarily representative of Company’s current business plan and financial forecast
Slide 23: Well Details: Appalachia
Well Details Note: As of November 2017. Economics shown on an 8/8ths basis; IRR assumes $3.00/MMBtu. Appalachia Well Level Details Type curves 23 Old forecast, not necessarily representative of Company’s current business plan and financial forecast