Slide 1: July 2011 Investor Presentation
Exhibit 99.1 EXCO Investor July PPT 2011 – 192 Resources, Presentation – Management Inc.and Financial Presentation Disclosure
Slide 2: Cautionary Note
PPT Cautionary EXCO earnings Company’s Transaction”), presentation reflect assumptions oil into accurate, and applicable events Exchange purport Management Forecasts. “EBITDA” operating equity recommendations. liquidity other specifically encourage EBITDA reconciliation The projected modify includin
Slide 3: Forward-Looking Statements
PPT Forward This relate market our We these obligation materially timing 3•stimulation EXCO imports future continued estimates geological exploratory risks discovery, cash availability marketing developments title litigation; competition; general environmental receipt decisions potential actions flu
Slide 4: Forward-Looking Statements (continued)
PPTwith Forward We control. presentation, Our credit natural quantities been Effective degree but prices, recovered. contemplated 4our believe Quarterly revenues, –volatile, facility 192 but of gas You aLooking January confidence), of lower Any a–prices that management are Management our and and wit
Slide 5: Section Index
PPTAsset Corporate Pages Section Index Net Operations Reserves 5Financial – 192and Summary Models Values Overview –Update Management Resources 18 4422 & — 6—10 ——Updated 21 59 Update 36 Presentation Guidance 35 — 43 11 — 17
Slide 6: Corporate Overview
Corporate July 6PPT 2011 – 192 Overview – Management Presentation
Slide 7: Corporate Snapshot
Continued Snapshot 12/31/2010E Net Operated Producing Employees Bank •Unused The plan 7PPT Made Continued Production quarterly –toBorrowing file three Borrowing 192 Rigs Operated growth –with 927 financial acquisitions 6/30/2011E information 25 Exit 1,037 the Base 27 during Base Securities Rate Shal
Slide 8: Premier Asset Portfolio
PPTTcfe Premier High 1.5 1.6 Current Significant ~300,000 ~847,000 Pursuing Total Outstanding >1,000 Experienced Year excluding Average The prepared MGMT Oil—$/Bbl 8NG—$/Mcf reserve shale –end quality reserve 192 employees net Price Asset of using production by 2010 additional gross portion hedge –S
Slide 9: Executing Our Plan Delivers Significant Growth
PPTDebt Unmatched Executing ($’s Production Upstream Midstream EBITDA Capital 9Net in – 192 Millions) Expenditures $650 $60 $1,575 $225 our –(EXCO’s (Mmcfe/d) Growth Management —plan —2011E $70 —$680 $255 delivers $1,675 50% $205—$245 $946—$1,006 $145 501 2015 $1,692—$1,943 $80—$110 Share) Presentat
Slide 10: Strategy
PPT Right We Equity Acquisition •Drilling 10 Acreage Focus Grow Balance have are –Assets People Strategy 192 Value financially production, on Strategy acosts additions significant dedicated, –adding Strategy Management Growth andacreage and cash risks enhance industry position operationally flow, to
Slide 11: Financial Summary & Updated Guidance
Financial EXCO July PPT 11 2011 – 192 Resources, Summary – Management Inc. & Updated Presentation Guidance
Slide 12: Second Quarter 2011 Highlights
PPT Corporate Full Oil •EBITDA(1) of (1) (2) 12 EXCO Second 408 Non-GAAP Cash and Year – 192 Mmcfe/d natural flow quarter 2010 Highlights – $Management from 478,022 Guidance gas measure, 2011 revenues operations updated $ 126,156 Actuals please Presentation $ before 515,226 guidance see Q1 $ 162,400
Slide 13: Liquidity and Financial Position
PPT $Liquidity Cash(2) Bank Net Borrowing •Unused (1) currently (2) (5) 13Redetermined inThe EXCOIncludes debt thousands –debt 192 June borrowing $Net $plan and 159,120 (LIBOR 1,179,880 –base $150.6 of Management quarterly Financial to 3/31/2011 $9.5 borrowing Resources,(4) file $base +$million mill
Slide 14: Summary Financial Covenants and Debt
PPT •–Summary Debt Current $851.5 Financial EXCO 14TGGT EXCO – guaranteed 192 to Coverage Credit $1.2 75% Restricted Interest $750 Limitation Not $367.1 Interest million EBITDAX ratio of –ratio covenants: ANCTA Management Indebtedness coverage rate (as Resources billion ofmillion facility Creditpaym
Slide 15: Derivative Positions
PPT Derivative Includes NYMEX Q1 •111.32 NG 2011 –2012 15 EXCO Bank Positions Year 2011 Trades –131 140 192 1: 2: 3: 31,648 Hedge all 19,260 ~Contract $–Position entered Added 100% 50% 25% 15% 4.76 5.10 positions Management Limitations 344 $–• Target Year 5.36 Mmcf/d Contract 5.52 into entered 135,0
Slide 16: Updated Guidance: Second Quarter Review
PPT –$G&A Strong Second Original (dollars Oil—Mbbls Production: Mmcfe/d Without 98.0% Lease 0.45 Other Cash Interest Equity Income CAPEX Fully Adjusted EXCO’s 16 EXCO diluted income operating 192 0.43 97.0% income performance Quarter expense—cash tax in impact $Guidance share EBITDA 495 246,100 thou
Slide 17: Updated Quarterly Guidance
PPT Quarterly •Forecasting Q1 (dollars Oil—Mbbls Production: Mmcfe/d Differentials Oil Lease expense—per Other 800 Cash Interest Equity Income CAPEX Fully Adjusted (1) Relations $102.56 17 EXCO 25Excludes 2011 per $––G&A diluted 1,100 income operating 30 192 income Bbl expense—cash tax in for $Updat
Slide 18: Net Asset Values
Net Asset EXCO July PPT 2011 – 192 Resources, Values – Management Inc. Presentation
Slide 19: Net Asset Value Assumptions
PPT –Net •MGMT NYMEX Oil—$/Bbl 19 EXCO Assumes Actual Based Report Risked Unproved Based Asset – 192 on Price on NYMEX was present Price Value the –Financial management’s $reserve Management “rolled-forward” 90.00 98.30 Deck following Deck Assumptions values forward $2011 and Modeling 2011 90.00 101
Slide 20: Forecasted Risked Net Asset Value
PPTForecasted Risked Oil—$/Bbl Management 12/31/2010 Forecasted 163 TGGT Total Less: Fully NAV (1) 161 –Asset per of Long-term Diluted 192 Midstream Net E&P 110 Share –Proved Asset Value $EManagement 130 Price Assets 90.00 Shares 6/30/2011 reserves $ Debt Total 22.75 Value(1) $1,162 Developed Deck 6
Slide 21: Forecasted Net Asset Value by Area
PPTForecasted Management MGMT Oil—$/Bbl NG—$/Mcf 12/31/2010 Value 991 Net Forecasted Undeveloped Haynesville Bossier Marcellus Non-Shale Total E&P (1) 21 Reserves 1,067 –Asset E&P Net Undeveloped Value 192 329 1,381 0.24 Price Reserves 5,373 0.18 1,227 Asset –0.68 163 239 Value(1) Value Proved $E361
Slide 22: Operations Update
EXCO Resources, Inc. Operations Update July 2011 PPT ~ 192 ~ Management Presentation
Slide 23: Q2 2011 Operations Highlights
PPT Appalachia East Q2 Completed Haynesville/Bossier Marcellus Permian •Total Pennsylvania 23 Record 27 Continued Outstanding Positioning 2011 operated TX/North –71 192 40.6 2Wells 18 Operations net 6rigs –(Gross) 317.5 2.7 success Management production Marcellus drilling rigs and results running LA
Slide 24: East Texas/North Louisiana Continued Focus
PPTThe East Continued ~23 Continuous Holly: Shelby: Frac Currently Focus Waskom Current Shelby Holly PD PUD Probable Possible Total Resources Grand Shale HBP% (1) differentials 24 199 Mmcfe/d Texas/North –design 485 Proved 3P Reserves locations—gross acres—net Waskom on 192 Total 42.6 95% reserve 2F
Slide 25: East Texas/North Louisiana Drilling Efficiencies
PPT East Drilling Longest First As EXCO On •In Reduction Design Procuring Re-design 25North Drilling one tracked 11Texas/North –half wells, 192 well, drilled specific Louisiana: efficiencies Contracted 2009 2011 Optimization firm of –by EXCO Management EXCO locations non-productive our its (Technica
Slide 26: East Texas/North Louisiana Cost Reduction
PPT East Cost Implementing 11.5 12.0 11.0 10.0 9.5 million $8.5 2H 6.0 6.5 7.0 7.5 2011E Variable –•EXCO 26 Targeting Current Implementing Drilling Completions 8.0 Bit Efficiencies Reducing Proppanttype/volumes Horsepower Equipment Perforation 2009 $9.80 in Texas/North –s•$10.30 saving selection •$8
Slide 27: Focus for Haynesville/Bossier
PPT – for Focus Haynesville/Bossier Reduce Faster Improve Evaluate Optimize In-house, Enhance Continuous Security Further Continue EXCO drilling 192 Resources, optimize enhance Costs and consistency EURs: surveillance scheduling EHS: and to proppant cluster choke Downtime: real-time 2011 –review man
Slide 28: East Texas/North Louisiana Gas Transportation
PPT East 1,700 -5300 EXCO Rate/ Pipeline Crosstex Regency ETC Enterprise Total Significant Potential Shelby Acadian Current 28 0%FTTX –of Tiger FT 1,600 192 Holly gas Total increase Firm FT Mcf /and/or $0.30 to North Acadian 0.31 –0.16 0.36 on downstream commitments also 1,500 Management Gross Mmcf/
Slide 29: Appalachia Northeast Development
PPT Appalachia –•Current Northeast Underway Appraisal Central Development PD PUD Probable Possible Total Resources Grand Shale Approx HBP% (1) differentials 29847,000 Significant Currently Drilling Completing Q2 Northeast Best The 5–2011 118 Proved 3P Reserves locations—gross 192 Total Q2 16 56% Are
Slide 30: Marcellus Cost Reduction
PPT Marcellus Cost Actual Contractor People Infrastructure –•Shift EXCO Water Build Keep Strong Experience Staff Securing Local Roads Impoundments Central Multi High Water Well Roads Equipment –Reduction to192 from well site cost Total crews and Resources, local well service transportation developme
Slide 31: Marcellus Water Management
PPT Appalachia Recycled •Marcellus 31 EXCO Water 18 MMgpd Current EXCO Five Currently – water 192 management operates storage more Water –testing Water treatment Management of than water Procurement capacity two Procurement new 90% staff of available facilities technologies the of of Presentation fr
Slide 32: Marcellus Focus for 2011
PPT Focus –•Marcellus 32 EXCO Analyzing Accelerate Two Development Continue Identify One Additional Acreage Pennsylvania Competitor In-house Significant Prioritized Maximize – rig for 192appraisal development best 2011 in –operational todata take appraisal Management acreage lower existing improve d
Slide 33: Non-shale Assets
PPT Non-shale >1.2 Appalachia Permian Proved Undeveloped East •Reserves –>$10.00 (1) differentials 33 EXCO Conventional Development Appalachia Assets Permian: East Operating Operations Production The TX/North –Tcf Texas/North 192 developed reserve provide per of and “Conventional” –20.7 reserves Sha
Slide 34: TGGT Throughput
PPT –Throughput TGGT Holly Legacy •Shelby 34 EXCO Average Anticipate Throughput Currently, Infrastructure Mid Focus Minor Early Building Formulate Holly: Shelby: Legacy – Cycle 192 System Cycle East on expansions 893 East 162 Q2 header facilities –well we having takeaway exceeds Texas Management Mmc
Slide 35: TGGT Incident Impact
PPT •TGGT TGGT: Revenue Operating $–Total Equity (1) The We With 35Failure Internal Estimated Leasing Plan In Estimated in EXCO thousands addition, –are Adjusted function 192 to the May Income $taking of Impact restart in and temporary Expense leased –aImpacts thousands 28, impact Management vessel
Slide 36: 2011 E&P Capital Budget
PPT –•E&P (1) internally Exploration Seismic Drilling 2011 Field Land Water 36 EXCO Haynesville Marcellus Permian The Technical Performance Existing Readily Recognized Size Large Improving Implementing Infrastructure Superior Good Minimal $976 –budget Capital 6% Seismic operations opportunity pipeli
Slide 37: Reserves and Resources Update
EXCO Reserves July PPT 2011 – 192 EXCO and – Management Resources Resources,Update Inc. Presentation
Slide 38: Strong Reserves and Resources Performance
PPT –•Strong these 38 EXCO Strong High Added Appraised Increased High-graded 72% 97% ~36% –locations 192 of quality historical Reserves of performance 0.9 over PUD our –gross Proved and Tcfe Management reserves 10 reserves locations as reserves began operated and Tcfe performance in reserves Reserve
Slide 39: Reserves Performance and Reconciliation
PPT YE •(–Extensions (1) per 20 2,000 1,800 646 1,600 600 800 1,000 959 Total 01400 200 39 EXCO 2.31.09 Acquisitions/Divestitures Appalachia Extensions Revisions Production 615 53 92 (25) (133) Based Bbl 2009(1) (112) 643 –Bcfe Proved Bcfe 67 1499 Bcfe 192 YE2009 for 822 53 Ext on ––crude –& 1,400 –
Slide 40: DeSoto Haynesville Operated Type Curve
PPT Operated 0Avg Production DeSoto Haynesville All Type NOTE: 40 EXCO 100 Wells (Cum –Curve 200 192 Operated “All Area Core well 394,421 300 (MMcf) –Days 397,797—709,164—983,438—1,637,235—2,471,779 30 wells” Management Performance Cumulative performance 400 Days 402,396 163 500 4500 inWells table 7
Slide 41: Reserves Assumptions
PPT Reserves –Assumptions MGMT Oil—$/Bbl Haynesville Gross Proved Probable Possible Contingent •Average EXCO 41 Added The Proved Non-proved Only Operating Drilling Price –following Loc. 192 includes Resources, deck Undeveloped Price in of 366 Reserves 230 and and –year Avg. drilling Resources $expen
Slide 42: Reserves and Resources Detail
PPTThe Reserves Probable Possible Contingent Grand Reconciliation Net 1PDP 2PNP 3PBP 4PUD Variance Total (1) effects hedge 42 Oil –Proved 368 366 4,364 52 4,216 50 192 Total 2,871 2,725 EXCO reserve (Mbbl) 703 due 43,936 40,400 1,788 and 79,589 77,792 –8,360 18,506 744,886 675,585 Management 664,685
Slide 43: Shale/Non-shale Reserves and Resources
PPTThe Reserves Shale/non-shale Net Gross Non-Shale PV-10 1PDP 2PNP 3PBP 4PUD Total Probable Possible Contingent Grand (1) effects hedge 43 Bcfe –Proved 47—2 71 415 33—1 $ 43 Locations 192 Total 106 38 ($ EXCO reserve 608 138 15 23976 ETX-NLA in and 100 59 –140 Shale 259 446 24 millions) $861 20 Man
Slide 44: Financial Models
Financial July PPT EXCO 2011 – 192 Resources, Models – Management INC Presentation
Slide 45: Financial Modeling Assumptions
PPT Assumptions EUR Reserves –Financial MGMT Oil—$/Bbl NG—$/Mcf Holly Shelby Waskom •ETXNLA EXCO 45 Assumes Based Projections Includes Downtime Forecast Added Type The Effective Operating, Updated –Comparison 7.5% average 192 curves Resources, 5.0% on Price additional 7.5% and Modeling JV actuals ad
Slide 46: Reserves and Resources Reconciliation
PPT Reconciliation 1PDP 2PNP 3PBP Undeveloped Grand Net Reserves Type Production(82,224) Adjustments: Total Financial (1) (2) $Gas Oil $–curve Proved adjustments 368 4,773 51 192 Total Management Gas Oil EXCO 46 (Mbbl) Using Equiv 42,388 90.00 4.50and Modeling 73,480 –$adjustments(1,111,644) $17,493
Slide 47: Financial Modeling Shale/Non-shale Reserves
PPT Financial Shale/non-shale Net Non-Shale PV-10 1PDP 2PNP 3PBP Total Undeveloped Grand Gross (1) (2) $Bcfe $–90.00 Proved 47 75 392 32 $ 48 Locations 192 Total ($ Management Gas Oil EXCO 47 581 Using 03ETX-NLA 2 4.50 in Modeling 64 –2Shale 1$millions) $831 Undeveloped Resources, Management 49 78
Slide 48: Development Plan Summary
PPT Development Net Bossier—- Gross Average Operated Haynesville Bossier Marcellus Haynesville/Bossier •OBO Forecasted (1) EXCO 48 Well Development Forecasted Wells – Well costs 192 Resources, $Royalty 25% 2011 10,650 Turned $12.0 18% –Proved Reserve 7.3 Cost reductions 5,697 $65.1 21% Management 25
Slide 49: Development Economics
PPT Development Gross cost Haynesville Bossier Marcellus Permian 2011 NYMEX % Realized Direct Gathering Production Total •Operating (1) 2011 (2)Differential $($M)(Mmcfe)%(Mmcfe) –E Total expense well 192 LOE(2) forecasted Management Gas Oil EXCO 49 Haynesville $Excludes Based $price 90.00 4.50$9,20
Slide 50: Financial Model Summary
PPT Financial Upstream: Average Haynesville/Bossier Marcellus Permian Production Secured Potential Midstream 2011 Throughput TGGT Appalachia $Total EBITDA CAPEX Net Note: EXCO 50in Debt Debt/(Cash) millions –E 28 1,521 EXCO 192 1,489 Resources, 2012 debt $37 Rigs: 2liquidity $Model 4307 1,002 2–(100
Slide 51: Upstream Summary Cash Flow and Liquidity
Upstream PPT 2011 Oil—Mbbls Equivalent—Mmcfe Adjusted Dividends Discretionary Drilling Field Free Assumed Oil Natural Per Revenue Hedge Lease Production Gathering General Operating Net Summary Cash Bank Senior Total Secured Potential EXCOand ($/Bbl) day unit back –cash Einterest taxes $ revenue oper
Slide 52: Upstream Income Statement
PPT $Upstream Oil—Mbbls Equivalent—Mmcfe Per Revenues Natural Oil Total Cost Lease Production Gathering Depreciation, Accretion Stock General Other—non-cash Other—cash Operating Interest Capitalized Change Equity Other Current Deferred Income Adjusted EXCO inand $day—Mmcfe/d thousands –and 74,046 re
Slide 53: Upstream Cash Flow Statement
PPT $Upstream Operating Adjustments Income Depreciation, Accretion Stock Amortization Fair Accounts (671) Investing Additions Investment Restricted Financing Proceeds Issuance Deferred Dividends Other Net Effect Cash EXCO in increase income cash thousands market –at flow —(6,339) — based of 192 Reso
Slide 54: Upstream Balance Sheet
PPT $Upstream Assets Cash Restricted Inventory Unproved Proved Allowance Gas Office Goodwill Investment Liabilities Current Accounts Oil Long-term Senior Deferred Derivative Asset Stockholders’ Common Additional Retained Dividends Accumulated Other Total EXCO inand thousands gathering –$liabilities
Slide 55: Midstream Summary Projections
PPT – 7.5% Summary Based Assumptions Projections MGMT Oil—$/Bbl NG—$/Mcf Includes Throughput Downtime Holly Shelby Waskom ETXNLA EXCO on 192 Resources, 5.0% Price actual 7.5% unrisked Midstream JV –factors based $forecasts $Management 90.00 Conventional Deck 4.50 financial on by Inc Financial $2011
Slide 56: Midstream Income Statement
PPT Midstream Income ($ Revenue: Expense: EBITDA TGGT: Interest TGGT Capital: Appalachia Total Free (1)in –Cash millions) Revenue Operating Capital 192 & $ 81.8 259.1 Texas Statement Expense Free 213.1 137.1 Appalachia Flow(1) –Financials Summary 9.5 3.7 48.0 79.0 Management 112.7 307.0 Cash Margin
Slide 57: Midstream Balance Sheet
PPT Midstream TGGT Balance ($ Cash Inventory Gas Deferred Office Accounts Accrued Other Current Long Additional Retained Total EXCO ingathering –millions) Assets & Stockholders’ Liabilities term 0.1 2.5 192 & & Resources, Assets cash Liabilities Sheet interest financing earnings field Appalachia 0.1
Slide 58: Midstream Cash Flow Statement
PPT Midstream TGGT ($ Operating Depreciation Decrease Accounts Investing Capital Financing Deferred Borrowings Net Cash EXCO inIncrease Income –millions) Flow Provided &192 &Resources, Expenditures cash Financing Appalachia (Increase) Activities: receivable &Activities: –before Statement Summary Fin
Slide 59: Midstream Throughput and Capital Summary
PPT –Hookups Midstream Appalachia Consolidated TGGT Well Field Transportation Miscellaneous/Other Total Capital Infrastructure 192 1,488.9 Capital –Throughput Summary Financials 32.6 Management $Throughput $by Pipelines 2,268.1 259.1 39.4 128.4 Category &12.5 $Throughput are Facilities 263.8 2,741.0