EXCO Resources, Inc. Announces A Partnership With Harbinger Group Inc. Related To Conventional Oil And Gas Properties In Texas And Louisiana

(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
Production:
Total production (Mmcfe)				146,040					(27,986	)				7,136					125,190
Average production (Mmcfe/d)				533					(102	)				26					457
Revenues:
Revenues, excluding derivatives			$	394,447				$	(118,538	)			$	30,227				$	306,136
Average realized price ($/Mcfe)				2.70					4.24					4.24					2.45
Expenses:
Direct operating costs				59,084					(34,138	)				8,705					33,651
Per Mcfe				0.40					1.22					1.22					0.27
Production and ad valorem taxes				20,671					(14,303	)				3,647					10,015
Per Mcfe				0.14					0.51					0.51					0.08
Gathering and transportation				78,183					(9,352	)				2,385					71,216
Per Mcfe				0.54					0.33					0.33					0.57
Excess of revenues over direct operating expenses				236,509					(60,745	)				15,490					191,254

The Partnership will continue to produce and develop the contributed assets and will actively pursue conventional asset acquisition opportunities of long-life natural gas and oil properties. EXCO will serve as contract operator of the properties and provide services pursuant to contract operating and administrative service agreements with the Partnership. The Partnership will be governed by a Board of Directors of the general partner consisting of two EXCO directors and two HGI directors.

« First ‹ Previous 1 2 3 4 5 6 Next › Last »