This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

EXCO Resources, Inc. Reports Third Quarter 2012 Results

Stocks in this article: XCO


We drilled and completed 9 gross (8.8 net) wells in our Sugg Ranch area during the third quarter 2012 with 89% drilling success. We are currently running one operated rig and plan to drill and complete 36 gross (35.2 net) wells in 2012. Economics for this drilling activity typically have rates-of-return in excess of 50%. In the third quarter, our production averaged approximately 4,100 barrels per day of net oil equivalents which was essentially flat with the third quarter 2011. This average production rate consisted of 1,500 net barrels of oil, 6,900 net Mmcf of natural gas, and 1,400 net barrels of natural gas liquids per day.

Based on industry results surrounding our Permian acreage position, we are continuing to evaluate our shale potential. We have tested both the Wolfcamp and Cline shale formations vertically in several wells and continue to collect and analyze core samples.


Our jointly held midstream company, TGGT, had total throughput averaging approximately 1.5 Bcf per day for the third quarter 2012. TGGT’s adjusted EBITDA of $42 million for the third quarter 2012 was a 48% increase over TGGT’s adjusted EBITDA for the third quarter 2011.

The improvement in EBITDA in the third quarter 2012 is primarily attributable to reduced operating expenses as well as increased throughput from third party producers in the Holly area. TGGT's major focus in the fourth quarter 2012 will be continued reduction of operating expenses through the release of rental units and discontinuation of equipment leases where appropriate. In order to release rental units, TGGT is finalizing the installation and start up of owned treating facilities in the Holly area.

In our Shelby area, TGGT's major infrastructure development and capital projects in the Shelby area are concluded for 2012. In the legacy East Texas area, TGGT anticipates increased throughput from customers drilling horizontal Cotton Valley wells.

6 of 8

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 18,030.21 +6.04 0.03%
S&P 500 2,081.88 -0.29 -0.01%
NASDAQ 4,773.4720 +8.0480 0.17%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs