(2) Net of $7.1 million outstanding letters of credit.
(3) EXCO will not be a guarantor of the Partnership’s revolving credit facility, nor will EXCO’s liquidity be impacted by available borrowing capacity under the Partnership’s revolving credit facility.
Selected Pro Forma Partnership Data
Following are selected operating and financial data for the nine months ended September 30, 2012 reflecting the pro forma impacts to EXCO after the contribution of the properties to the Partnership.
|Pro Forma Adjustments|
|(Unaudited, dollars in thousands, except per Mcfe)||Historical EXCO||Total Partnership||
EXCO's 25.5% Share
Consolidated Pro Forma EXCO
|Total production (Mmcfe)||146,040||(27,986||)||7,136||125,190|
|Average production (Mmcfe/d)||533||(102||)||26||457|
|Revenues, excluding derivatives||$||394,447||$||(118,538||)||$||30,227||$||306,136|
|Average realized price ($/Mcfe)||2.70||4.24||4.24||2.45|
|Direct operating costs||59,084||(34,138||)||8,705||33,651|
|Production and ad valorem taxes||20,671||(14,303||)||3,647||10,015|
|Gathering and transportation||78,183||(9,352||)||2,385||71,216|
|Excess of revenues over direct operating expenses||236,509||(60,745||)||15,490||191,254|