Category Archives: Uncategorized

EXCO Resources, Inc. Closes Appalachian Joint Venture

DALLAS, Jun 01, 2010 (BUSINESS WIRE) –EXCO Resources, Inc. (NYSE:XCO) (“EXCO”) today announced that it closed its Appalachian joint venture (“JV”) with BG Group plc (LSE:BG.L) (“BG Group”). The total purchase price paid by BG Group to EXCO at the closing was $835.2 million, which is subject to customary post-closing purchase price adjustments.

Cash proceeds received at the closing were used to reduce the outstanding balance under EXCO’s credit facility, to fund EXCO’s share of an operating account for the JV, to pay transaction costs and expenses and for other general corporate purposes. The borrowing base under EXCO’s credit facility was reduced from $1.3 billion to $1.2 billion as a result of the consummation of this transaction.

EXCO was advised by Goldman, Sachs & Co. in this transaction.

EXCO Resources, Inc. is an oil and natural gas exploration, exploitation, development and production company headquartered in Dallas, Texas with principal operations in East Texas, North Louisiana, Appalachia, and West Texas.

Additional information about EXCO Resources, Inc. may be obtained by contacting EXCO’s Chairman, Douglas H. Miller, or its President, Stephen F. Smith, at EXCO’s headquarters, 12377 Merit Drive, Suite 1700, Dallas, TX 75251, telephone number (214) 368-2084, or by visiting EXCO’s website at www.excoresources.com. EXCO’s SEC filings and press releases can be found under the Investor Relations tab.

This release may contain forward-looking statements relating to future financial results, business expectations and business transactions.Business plans may change as circumstances warrant.Actual results may differ materially from those predicted as a result of factors over which EXCO has no control.Such factors include, but are not limited to: estimates of reserves, commodity price changes, regulatory changes and general economic conditions.These risk factors and additional information are included in EXCO’s reports on file with the Securities and Exchange Commission.EXCO undertakes no obligation to publicly update or revise any forward-looking statements.

SOURCE: EXCO Resources, Inc.

EXCO Resources, Inc.
Douglas H. Miller, 214-368-2084
Chairman
or
Stephen F. Smith, 214-368-2084
President

EXCO Resources, Inc. Declares Quarterly Cash Dividend

DALLAS, May 21, 2010 (BUSINESS WIRE) –EXCO Resources, Inc. (NYSE: XCO) (“EXCO”) today announced that its Board of Directors declared a second quarter cash dividend of $0.03 per share. The dividend is payable on June 15, 2010 to holders of record on June 1, 2010.

Any future declaration of dividends, as well as the establishment of record and payment dates, is subject to the approval of EXCO’s Board of Directors.

EXCO Resources, Inc. is an oil and natural gas exploration, exploitation, development and production company headquartered in Dallas, Texas with principal operations in East Texas, North Louisiana, Appalachia and West Texas.

Additional information about EXCO Resources, Inc. may be obtained by contacting EXCO’s Chairman, Douglas H. Miller, or its President, Stephen F. Smith, at EXCO’s headquarters, 12377 Merit Drive, Suite 1700, Dallas, TX 75251, telephone number (214) 368-2084, or by visiting EXCO’s website at www.excoresources.com. EXCO’s SEC filings and press releases can be found under the Investor Relations tab.

SOURCE: EXCO Resources, Inc.

EXCO Resources, Inc.
Douglas H. Miller, 214-368-2084
Chairman
or
Stephen F. Smith, 214-368-2084
President
www.excoresources.com

EXCO Resources, Inc. Closes Purchase of Common Resources

DALLAS, May 14, 2010 (BUSINESS WIRE) –EXCO Resources, Inc. (NYSE:XCO) (“EXCO”) today announced that it closed the purchase of Common Resources, L.L.C. jointly with BG Group plc (LSE: BG.L). The total purchase price paid at the closing was approximately $441.6 million ($220.8 million net to EXCO), which is subject to customary post-closing purchase price adjustments.

EXCO Resources, Inc. is an oil and natural gas exploration, exploitation, development and production company headquartered in Dallas, Texas with principal operations in East Texas, North Louisiana, Appalachia, and West Texas.

Additional information about EXCO Resources, Inc. may be obtained by contacting EXCO’s Chairman, Douglas H. Miller, or its President, Stephen F. Smith, at EXCO’s headquarters, 12377 Merit Drive, Suite 1700, Dallas, TX 75251, telephone number (214) 368-2084, or by visiting EXCO’s website at www.excoresources.com. EXCO’s SEC filings and press releases can be found under the Investor Relations tab.

This release may contain forward-looking statements relating to future financial results, business expectations and business transactions.Business plans may change as circumstances warrant.Actual results may differ materially from those predicted as a result of factors over which EXCO has no control.Such factors include, but are not limited to: estimates of reserves, commodity price changes, regulatory changes and general economic conditions.These risk factors and additional information are included in EXCO’s reports on file with the Securities and Exchange Commission.EXCO undertakes no obligation to publicly update or revise any forward-looking statements.

SOURCE: EXCO Resources, Inc.

EXCO Resources, Inc.
Douglas H. Miller, 214-368-2084
Chairman
or
Stephen F. Smith, 214-368-2084
President

EXCO Resources, Inc. Closes Purchase of Common Resources

DALLAS, May 14, 2010 (BUSINESS WIRE) –EXCO Resources, Inc. (NYSE:XCO) (“EXCO”) today announced that it closed the purchase of Common Resources, L.L.C. jointly with BG Group plc (LSE: BG.L). The total purchase price paid at the closing was approximately $441.6 million ($220.8 million net to EXCO), which is subject to customary post-closing purchase price adjustments.

EXCO Resources, Inc. is an oil and natural gas exploration, exploitation, development and production company headquartered in Dallas, Texas with principal operations in East Texas, North Louisiana, Appalachia, and West Texas.

Additional information about EXCO Resources, Inc. may be obtained by contacting EXCO’s Chairman, Douglas H. Miller, or its President, Stephen F. Smith, at EXCO’s headquarters, 12377 Merit Drive, Suite 1700, Dallas, TX 75251, telephone number (214) 368-2084, or by visiting EXCO’s website at www.excoresources.com. EXCO’s SEC filings and press releases can be found under the Investor Relations tab.

This release may contain forward-looking statements relating to future financial results, business expectations and business transactions.Business plans may change as circumstances warrant.Actual results may differ materially from those predicted as a result of factors over which EXCO has no control.Such factors include, but are not limited to: estimates of reserves, commodity price changes, regulatory changes and general economic conditions.These risk factors and additional information are included in EXCO’s reports on file with the Securities and Exchange Commission.EXCO undertakes no obligation to publicly update or revise any forward-looking statements.

SOURCE: EXCO Resources, Inc.

EXCO Resources, Inc.
Douglas H. Miller, 214-368-2084
Chairman
or
Stephen F. Smith, 214-368-2084
President

EXCO Resources, Inc. Comments on Well Control Event

DALLAS, Apr 22, 2010 (BUSINESS WIRE) –EXCO Resources, Inc. (NYSE: XCO) (“EXCO”) commented today on a well control event in Caddo Parish, Louisiana. EXCO encountered an unexpected gas flow in a well being drilled on April 18, 2010 at a depth of 1,533 feet, and control of the well was established with standard contingency measures. No injuries or damage to drilling equipment occurred. All appropriate state, federal and local officials were promptly notified of the event and have worked continuously with EXCO to ensure the safety of the public and the environment. The source of the unexpected gas flow is under evaluation, and plugging and abandonment procedures are underway.

An investigation into any water quality issues is ongoing by the Louisiana Department of Environmental Quality and the Louisiana Department of Health & Hospitals, with the cooperation and assistance of EXCO. As a precaution, homes in the immediate vicinity of the well were voluntarily evacuated. Testing is being conducted with the goal of returning the families to their homes as quickly as possible. EXCO is providing accommodations for the families and also providing for their living expenses.

EXCO’s Chief Operating Officer, Harold L. Hickey, commented: “Our focus in this situation has been the safety of the families, our employees and contractors in the immediate area. We are grateful for the patience and understanding of the families and pledge to get them back into their homes quickly and safely. We are also extremely grateful for all the help and cooperation of the Sheriff’s Department of Caddo Parish, the Louisiana State Police and all the local and state law enforcement and public safety officials, the Louisiana Department of Health & Hospitals, the Louisiana Department of Natural Resources, the Department of Homeland Security and the Department of Environmental Quality.”

EXCO Resources, Inc. is an oil and natural gas exploration, exploitation, development and production company, headquartered in Dallas, Texas with principal operations in East Texas, North Louisiana, Appalachia, and West Texas.

Inquiries concerning the contents of this release may be obtained by contacting EXCO’s President, Stephen F. Smith, or its Vice President and Chief Operating Officer, Harold L. Hickey, at EXCO’s headquarters, 12377 Merit Drive, Suite 1700, Dallas, TX 75251, telephone number (214) 368-2084.

SOURCE: EXCO Resources, Inc.

EXCO Resources, Inc.
Stephen F. Smith, 214-368-2084
President
or
Harold L. Hickey, 214-368-2084
Vice President and Chief Operating Officer

EXCO Resources, Inc. Renews Shelf Registration Statements Scheduled to Expire in 2010

DALLAS, Apr 16, 2010 (BUSINESS WIRE) –EXCO Resources, Inc. (NYSE: XCO) (“EXCO”) today filed a registration statement on Form S-3ASR with the Securities and Exchange Commission (SEC) in accordance with its obligations under certain registration rights agreements originally entered into in October 2005 and March 2007. The registration statement filed today renews the registration of securities previously issued by EXCO in private placements in October 2005 and March 2007 which was scheduled to expire later this year.

EXCO is not offering to sell or otherwise issuing any securities under the registration statement filed today and would not receive any proceeds if such shareholders were ever to elect to sell any shares.

EXCO Resources, Inc. is an oil and natural gas exploration, exploitation, development and production company headquartered in Dallas, Texas with principal operations in East Texas, North Louisiana, Appalachia and West Texas.

Additional information about EXCO Resources, Inc. may be obtained by contacting EXCO’s Chairman, Douglas H. Miller, or its President, Stephen F. Smith, at EXCO’s headquarters, 12377 Merit Drive, Suite 1700, Dallas, TX 75251, telephone number (214) 368-2084, or by visiting EXCO’s website at www.excoresources.com. EXCO’s SEC filings and press releases can be found under the Investor Relations tab.

SOURCE: EXCO Resources, Inc.

EXCO Resources, Inc.
Douglas H. Miller, 214-368-2084
Chairman
or
Stephen F. Smith, 214-368-2084
President

EXCO Resources, Inc. Schedules Earnings Release and Conference Call

DALLAS, Apr 12, 2010 (BUSINESS WIRE) –EXCO Resources, Inc. (NYSE: XCO) (“EXCO”) today announced that it will be releasing first quarter 2010 results on Tuesday, May 4, 2010, after market close.

EXCO will host a conference call on Wednesday, May 5, 2010, at 8:00 a.m. (Dallas time) to discuss the contents of this release and respond to questions. Please call (800) 309-5788 if you wish to participate, and ask for the EXCO conference call ID#68715658. The conference call will also be webcast on EXCO’s website at www.excoresources.com under the Investor Relations tab. Presentation materials related to this release will be posted on EXCO’s website on Tuesday, May 4, 2010, after market close.

A digital recording will be available starting two hours after the completion of the conference call until 11:59 p.m., May 19, 2010. Please call (800) 642-1687 and enter conference call ID#68715658 to hear the recording. A digital recording of the conference call will also be available on EXCO’s website.

EXCO Resources, Inc. is an oil and natural gas exploration, exploitation, development and production company headquartered in Dallas, Texas with principal operations in East Texas, North Louisiana, Appalachia and West Texas.

Additional information about EXCO Resources, Inc. may be obtained by contacting EXCO’s Chairman, Douglas H. Miller, or its President, Stephen F. Smith, at EXCO’s headquarters, 12377 Merit Drive, Suite 1700, Dallas, TX 75251, telephone number (214) 368-2084, or by visiting EXCO’s website at www.excoresources.com. EXCO’s SEC filings and press releases can be found under the Investor Relations tab.

SOURCE: EXCO Resources, Inc.

EXCO Resources, Inc.
Douglas H. Miller, 214-368-2084
Chairman
or
Stephen F. Smith, 214-368-2084
President

EXCO ResourcesIncreases Quarterly Cash Dividend

DALLAS, Feb 22, 2010 (BUSINESS WIRE) — EXCO Resources, Inc. (NYSE: XCO) (“EXCO”) today announced that its Board of Directors declared a first quarter cash dividend of $0.03 per share, a $0.005 per share (20%) increase from the previous quarterly rate of $0.025 per share. The dividend is payable on March 19, 2010 to holders of record on March 5, 2010.
Douglas H. Miller, EXCO’s Chairman and Chief Executive Officer, commented, “We are pleased to be in a position to increase our quarterly cash dividend. This increase is consistent with our overall goal of maximizing shareholder value.”

Any future declaration of dividends, as well as the establishment of record and payment dates, is subject to the approval of EXCO’s Board of Directors.

EXCO Resources, Inc. is an oil and natural gas exploration, exploitation, development and production company headquartered in Dallas, Texas with principal operations in East Texas, North Louisiana, Appalachia and West Texas.

Additional information about EXCO Resources, Inc. may be obtained by contacting EXCO’s Chairman, Douglas H. Miller, or its President, Stephen F. Smith, at EXCO’s headquarters, 12377 Merit Drive, Suite 1700, Dallas, TX 75251, telephone number (214) 368-2084, or by visiting EXCO’s website at www.excoresources.com. EXCO’s SEC filings and press releases can be found under the Investor Relations tab.

SOURCE: EXCO Resources, Inc.

EXCO Resources, Inc.
Douglas H. Miller, 214-368-2084
Chairman
or
Stephen F. Smith, 214-368-2084
President
www.excoresources.com

EXCO Resources, Inc. Schedules Earnings Release and Conference Call

DALLAS, Feb 02, 2010 (BUSINESS WIRE) — EXCO Resources, Inc. (NYSE: XCO) today announced that it will be releasing fourth quarter 2009 and full year 2009 results on Tuesday, February 23, 2010, after market close.
EXCO will host a conference call on Wednesday, February 24, 2010, at 9:00 a.m. (Dallas time) to discuss the contents of this release and respond to questions. Please call (800) 309-5788 if you wish to participate, and ask for the EXCO conference call ID#54910096. The conference call will also be webcast on EXCO’s website at www.excoresources.com under the Investor Relations tab. Presentation materials related to this release will be posted on EXCO’s website on Tuesday, February 23, 2010, after market close.

A digital recording will be available starting two hours after the completion of the conference call until 11:59 p.m., March 10, 2010. Please call (800) 642-1687 and enter conference call ID#54910096 to hear the recording. A digital recording of the conference call will also be available on EXCO’s website.

EXCO Resources, Inc. is an oil and natural gas exploration, exploitation, development and production company headquartered in Dallas, Texas with principal operations in East Texas, North Louisiana, Appalachia and West Texas.

Additional information about EXCO Resources, Inc. may be obtained by contacting EXCO’s Chairman, Douglas H. Miller, or its President, Stephen F. Smith, at EXCO’s headquarters, 12377 Merit Drive, Suite 1700, Dallas, TX 75251, telephone number (214) 368-2084, or by visiting EXCO’s website at www.excoresources.com. EXCO’s SEC filings and press releases can be found under the Investor Relations tab.

SOURCE: EXCO Resources, Inc.

EXCO Resources, Inc.
Douglas H. Miller, 214-368-2084
Chairman
or
Stephen F. Smith, 214-368-2084
President
www.excoresources.com

EXCO’s Board Appoints New Director

DALLAS, Feb 01, 2010 (BUSINESS WIRE) — EXCO Resources, Inc. (NYSE: XCO) (“EXCO”) today announced that its Board of Directors has increased the size of the Board from nine members to ten members. The Board also appointed Mark F. Mulhern as a director of EXCO, effective February 1, 2010.

Mr. Mulhern is the chief financial officer of Progress Energy, Inc. and oversees their Financial Services group. He joined Progress Energy in 1996 as vice president and controller. Before joining Progress Energy, Mr. Mulhern was the chief financial officer at Hydra Co Enterprises, the independent power subsidiary of Niagara Mohawk. He also spent eight years at Price Waterhouse in Syracuse, serving a wide variety of manufacturing and service businesses. Mr. Mulhern serves on the EEI Financial Executive Advisory Committee and is on the board of directors of Habitat for Humanity of North Carolina. He is a certified public accountant, a certified management accountant, and a certified internal auditor.

EXCO’s Chairman and Chief Executive Officer, Douglas H. Miller, commented, “We are excited to have Mark Mulhern join the Board. He has significant financial and industry leadership experience and we look forward to his contributions.”

EXCO Resources, Inc. is an oil and natural gas exploration, exploitation, development and production company headquartered in Dallas, Texas with principal operations in East Texas, North Louisiana, Appalachia and West Texas.

Additional information about EXCO Resources, Inc. may be obtained by contacting EXCO’s Chairman, Douglas H. Miller, or its President, Stephen F. Smith, at EXCO’s headquarters, 12377 Merit Drive, Suite 1700, Dallas, TX 75251, telephone number (214) 368-2084, or by visiting EXCO’s website at www.excoresources.com. EXCO’s SEC filings and press releases can be found under the Investor Relations tab.

SOURCE: EXCO Resources, Inc.

EXCO Resources, Inc.
Douglas H. Miller, 214-368-2084
Chairman
or
Stephen F. Smith, 214-368-2084
President
www.excoresources.com