Slide 1: Investor Presentation
Exhibit 99.1 Investor Presentation June 2010
Slide 2: Company Overview
Company Overview (1) Significant shale upside with a solid base of conventional assets • 1.2 Tcfe of Proved Reserves – 300 Mmcfe/d of current net production, reserve life of 9.1 years and 62% Proved Developed – 255 Bcf of shale assets booked as proved with potential for significant future reserve ad
Slide 3: Reserve Base
Reserve Base Concentrated portfolio focused on shale resources Appalachia Proved Reserves = 1.2 Tcfe 3P Reserves = 3.2 Tcfe Proved: 0.2 Tcfe 3P: 0.2 Tcfe 3P+ Reserves = 11.9 Tcfe 3P+: 5.9 Tcfe Current Net Production = 300 Mmcfe/d Production: 17 Mmcfe/d Gross acreage: ~364,000 Gross acreage: ~820,000
Slide 4: Recent Events
Recent Events • Significant liquidity created through 2009 asset sales and joint venture with BG Group – Reduced debt by $2.4 billion or 78% since YE 2008 – Increased liquidity to over $1.1 billion • Continued success in the Haynesville – Completed 54 operated wells to date with average IP’s of 23.0
Slide 5: Liquidity and Financial Position
Liquidity and Financial Position Common Appalachian Pro Forma Consolidated ($ in thousands) March 31, 2010 Acquisition Joint Venture March 31, 2010 (1) Cash $ 117,792 - $ - $ 117,792 Bank debt (L + 200 -300bps) 762,543 220,800 (835,200) 148,143 (2) Senior notes (7 1/4%) 444,720 - - 444,720 Total deb
Slide 6: Production Profile
Production Profile Achieved our 2009 strategic plan; positioned for significant growth 450 $3,500 400 $3,000 350 $2,500 300 250 $2,000 200 $1,500 150 $1,000 100 $500 50 - $- Actual production Production guidance midpoint Outstanding net debt • Completed significant divestment program in 2009 • Focus
Slide 7: Net Asset Value Summary
Net Asset Value Summary Pro forma for the Common acquisition and Appalachian JV In millions, except per share and per unit Low Case High Case E&P Proved Reserves - 1.2 Tcfe at $2.00 & $2.50 per Mcfe $ 2,400 $ 3,000 Unproved Reserves (Conventional) - 0.9 Tcfe at $0.20 & $0.40 per Mcfe 180 360 Unprove
Slide 8: Unmatched NAV Growth
Unmatched NAV Growth 2010E (1) 2014 Target (2) Production (Mmcfe/d) 319 900 - 1,000 Proved Reserves (Tcfe) 1.2 5.0 - 6.0 EBITDA (Millions) $550 $1,250 - $1,600 Cash Flow (Millions) $500 $1,200 - $1,550 Capital Expenditures (Millions) $488 $1,100 - $1,300 50% of TGGT EBITDA (Millions) $40 $160 Net De
Slide 9: Production and Cash Flow Growth
Production and Cash Flow Growth(1) (dollars in millions) 2010 2011 2012 2013 2014 Average Rig Counts: Haynesville/Bossier Area 17 22 27 27 27 Marcellus Area 2 5 10 14 16 Permian Area 2 2 3 2 - Total 21 29 40 43 43 Production (Mmcfe/d) 319 500 650 800 950 Cash Flow $ 500 $ 700 $ 950 $ 1,150 $ 1,200 T
Slide 10: Quarterly 2010 Guidance
Quarterly 2010 Guidance Q1 2010 Q2 2010E Q3 2010E Q4 2010E 2010 (dollars in thousands, except per unit amounts) Actual Low High Low High Low High Low High Production: Oil - Mbbls 159 130 141 128 138 127 139 544 576 Gas - Mmcf 22,837 24,884 25,727 29,595 30,914 33,736 35,507 111,051 114,984 Mmcfe 23,
Slide 11: Capital Spending Summary
Capital Spending Summary Focus on the shales $ in millions 2010E 2010 Capital Spending Haynesville / Bossier $ 278 Haynesville / Marcellus 134 Bossier 47% Marcellus Conventional 64 23% Corporate 28 Total CAPEX 504 Investment in TGGT Holdings, LLC 80 Total CAPEX including TGGT 584 Less: BG Group reim
Slide 12: Current Derivatives Position
Current Derivatives Position NYMEX Contract Contract Contract % Hedged natural gas price per NYMEX oil price per Equivalent price per proved Mmcf Mcf Mbls Bbl Mmcfe Equivalent forecast(1) Q2 2010 13,803 $ 7.17 111 $ 114.96 14,471 $ 7.72 55% Q3 2010 13,940 7.16 113 114.96 14,616 7.72 47% Q4 2010 13,9
Slide 13: Haynesville Assets and Efforts
Haynesville Assets and Efforts AR TX • ~68,500 net Haynesville acres with EXCO / BG LA significant held by production position JV Area • Average IP rate from our operated Haynesville horizontal wells in DeSoto Parish continues to be approximately 23 Mmcf per day • Currently testing various drilling
Slide 14: Shelby Area
Shelby Area Haynesville and Middle Bossier assets Bossier • Located in Shelby Trough in Shelby, 9 Mmcf/d IP San Augustine & Nacogdoches Counties, TX • Eight horizontal shale wells flowing to Bossier sales (7 Haynesville, 1 Bossier) 12 Mmcf/d IP • Large acreage holdings in three areas Haynesville 12
Slide 15: Haynesville IP Rate Consistency
Haynesville IP Rate Consistency 23 Mmcf/d average IP in DeSoto Parish(1) Average Desoto Parish IP rate of 23 Mmcf/d • Excludes 4 wells in DeSoto Parish (2 testing restricted choke, and 2 outside of DeSoto core) • Now have 60 operated Haynesville horizontal wells to sales • Monitor pressure drawdown
Slide 16: Haynesville Type Curve - DeSoto Parish, LA
Haynesville Type Curve - DeSoto Parish, LA Conservatively booked with significant upside based on actual decline rates b = 1.75 EUR = 9.6 Bcfe b = 1.25 EUR = 7.6 Bcfe b = 1.00 EUR = 6.6 Bcfe EXCO’s current proved type curve 16
Slide 17: EXCO Gross Operated Haynesville Shale Forecast
EXCO Gross Operated Haynesville Shale Forecast Poised to deliver significant growth in Haynesville production; plan to accelerate drilling in 2010 and beyond ~2,000 Mmcf/d Production (High Case) ~1,700 Mmcf/d Production (Low Case) ~1,600 Mmcf/d Production ~ 939 Mmcf/d Production Currently ~500 Mmcf/
Slide 18: Marcellus Activity
Marcellus Activity • Drilling program underway – Plan at least 11 horizontals in 2010 – Built-for-purpose drilling rig under long term contract delivered February 2010 – Contracted to add two additional rigs • Completed two horizontal wells with IP’s of 2.9 and 2.2 Mmcf/d from 8 stage fracs – One of
Slide 19: TGGT Midstream Operations
TGGT Midstream Operations TGGT East TX / North LA System • TGGT throughput currently totals approximately 1.1 Bcf/d • Construction of 36 inch, 29 mile Haynesville header system completed • Throughput capacity in excess of 1.5 Bcf/d with the opportunity to increase throughput with compression and sys
Slide 20: Forward Looking Statements
Forward Looking Statements This presentation contains forward-looking statements, as defined in Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, or the Exchange Act. These forward-looking statements relate to, among other things, the following: • our future f
Slide 21: Forward Looking Statements (continued)
Forward Looking Statements (continued) We believe that it is important to communicate our expectations of future performance to our investors. However, events may occur in the future that we are unable to accurately predict, or over which we have no control. You are cautioned not to place undue reli