DALLAS, Aug 11, 2009 (BUSINESS WIRE) — EXCO Resources, Inc. (NYSE: XCO) (“EXCO”) announced today it has closed the sale to an affiliate of Encore Acquisition Company (NYSE: EAC) (“Encore”) of its Norge Marchand Unit in Grady County, Oklahoma, other selected Oklahoma, Kansas and Texas Panhandle assets, and its Gladewater Field and Overton Field assets in Gregg, Upshur and Smith Counties, Texas for $356.1 million in cash which was received at closing. The effective date of the sale was April 1, 2009.
As of December 31, 2008, the properties included estimated proved reserves of 4.7 million barrels of oil (Mmbbls) and 148 billion cubic feet (Bcf) of natural gas, or 176 billion cubic feet of natural gas equivalent (Bcfe), based on year-end 2008 SEC pricing. Current net production includes 1,194 barrels of oil per day and 28.8 million cubic feet per day of natural gas, or 36.0 million cubic feet of natural gas equivalent per day. The sale includes approximately 66,700 net acres, of which approximately 7,000 acres are undeveloped, and also includes gathering systems and compression attributable to certain of the assets.

The proceeds from the sale were applied to repay a portion of EXCO’s credit facilities.

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, West Texas and the Mid-Continent.

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: acquisitions, recruiting and new business solicitation efforts, estimates of reserves, commodity price changes, the extent to which EXCO is successful in integrating recently acquired businesses, 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

DALLAS–(BUSINESS WIRE)–Aug. 14, 2009– EXCO Resources, Inc. (NYSE:XCO) (“EXCO”) today announced that it has closed its transactions with BG Group plc (LSE:BG.L) (“BG Group”) for the joint development and operation of EXCO’s Haynesville shale and certain other related natural gas assets located in East Texas/North Louisiana and the joint development and operation of EXCO’s midstream assets in the same area.

EXCO sold BG Group a 50% interest in its producing and nonproducing assets in a large area of mutual interest (“AMI”) which encompasses most of EXCO’s holdings in East Texas/North Louisiana, excluding the Vernon Field in Jackson Parish, Louisiana and the Redland Field in Bossier and Webster Parishes, Louisiana. The parties will jointly develop the Haynesville, Bossier and other deep horizons as well as the Cotton Valley, Hosston and other shallow horizons. EXCO will continue serving as operator of the joint development subject to oversight from a Joint Development Operating Committee.

EXCO and BG Group will each own 50% of the acreage, production and reserves within the AMI. The existing assets within the AMI include approximately 120,000 net acres with approximately 65,000 net acres in East Texas and 55,000 net acres in Louisiana. Approximately 84,000 net acres are prospective for Haynesville shale development, and most of this acreage is in the core Haynesville shale areas of DeSoto and Caddo Parishes in Louisiana and Harrison County, Texas. Also included is net production of approximately 93 Mmcfe/d from the Cotton Valley and other shallower horizons and approximately 88 Mmcf/d from the Haynesville shale. As of December 31, 2008, the Cotton Valley and other shallow rights included approximately 414 Bcfe of net proved reserves and approximately 445 Bcfe of net probable and possible reserves, based on year-end SEC pricing. The Haynesville/Bossier shale acreage is under development and EXCO estimates that its current acreage position, most of which is held by shallow production, includes over 1,600 undrilled Haynesville locations containing net potential reserves of 4 to 6 Tcfe, with significant additional potential in the Bossier shale. EXCO and BG Group plan an aggressive development program, particularly in the Haynesville shale, for the remainder of 2009 and in future years.

EXCO received $727.0 million in cash at closing pursuant to the upstream joint development transaction, including closing adjustments. In addition, BG Group has agreed to fund $400 million of capital development on EXCO’s behalf, with BG Group paying 75% of EXCO’s drilling and completion costs on the deep rights until the $400 million commitment is satisfied. The drilling and completion cost commitment is expected to be satisfied in 2011 or 2012. EXCO and BG Group will share equally in additional leasehold and asset acquisition opportunities within the AMI.

EXCO also closed the sale to BG Group of a 50% interest in a newly formed company that will hold the East Texas/North Louisiana midstream assets, exclusive of the Vernon Field midstream assets. EXCO received a special distribution of $269.2 million at closing, including closing adjustments. In concert with the planned Haynesville shale development, there will be an effort to develop and grow the midstream business. EXCO currently owns in excess of 700 miles of pipeline and gathering assets in the area and is constructing a 29 mile, 36” diameter header system to transport its Haynesville gas production. Throughput in the midstream business to be contributed to the joint venture is approximately 482 Mmcf/d of which 51% is EXCO gas and 49% is third party gas.

The total cash proceeds to EXCO of $996.2 million from the transactions are being applied to repay EXCO Operating Company, LP’s $300 million Senior Unsecured Term Loan with the remainder applied to the outstanding balances under EXCO’s credit facilities.

Douglas H. Miller, EXCO’s Chief Executive Officer, commented, “We are very pleased with our joint development transactions with BG Group and expect outstanding growth in our upstream and midstream businesses in the East Texas/North Louisiana area. BG Group will be an excellent partner and we look forward to a long and successful relationship.”

EXCO was advised by Goldman, Sachs & Co. in these transactions.

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, West Texas and the Mid-Continent.

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.

The SEC has generally permitted oil and natural gas companies, in filings made with the SEC, to disclose only proved reserves that a company has demonstrated by actual production or conclusive formation tests to be economically and legally producible under existing economic and operating conditions. We use the terms “probable,” “possible,” “unproved,” or “potential” to describe volumes of reserves potentially recoverable through additional drilling or recovery techniques that the SEC’s guidelines prohibit us from including in filings with the SEC. These estimates are by their nature more speculative than estimates of proved reserves and accordingly are subject to substantially greater risk of being actually realized by the company. While we believe our calculation of unproved drillsites and estimations of unproved reserves have been appropriately risked and are reasonable, such calculations and estimates have not been reviewed by third party engineers or appraisers. Investors are urged to consider closely the disclosure in our Annual Report on Form 10-K for the year ended December 31, 2008 available on our website at www.excoresources.com under the Investor Relations tab or calling us at 214-368-2084.

Source: EXCO Resources, Inc.

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

DALLAS–(BUSINESS WIRE)–Sep. 29, 2009– EXCO Resources, Inc. (NYSE: XCO) (“EXCO”) today announced that it has reached an agreement with EV Energy Partners, L.P., (Nasdaq: EVEP), along with certain institutional partnerships managed by EnerVest, Ltd. to sell certain Ohio and Northwestern Pennsylvania producing assets for $145 million, subject to customary purchase price adjustments.

As of December 31, 2008, the properties include estimated proved reserves of 1.9 million barrels of oil (Mmbbls) and 110.4 billion cubic feet (Bcf) of natural gas, or 121.9 billion cubic feet of natural gas equivalent (Bcfe), based on year-end SEC pricing. Current net production includes 258 barrels of oil per day and 12.9 million cubic feet per day of natural gas, or 14.4 million cubic feet of natural gas equivalent per day.

The sale is expected to close in November 2009, subject to customary closing conditions, and is effective as of September 1, 2009.

Douglas H. Miller, EXCO’s Chief Executive Officer, commented, “This sale is part of our ongoing effort to divest certain non-strategic assets. We have now reached agreement on nearly $600 million of such asset sales and will continue our efforts.”

EXCO was advised by RBC Richardson Barr 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, West Texas and the Mid-Continent.

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

DALLAS–(BUSINESS WIRE)–Sep. 30, 2009– EXCO Resources, Inc. (NYSE: XCO) today announced that it will be releasing third quarter 2009 results on Tuesday, November 3, 2009, after market close.

EXCO will host a conference call on Wednesday, November 4, 2009, at 10:00 a.m. (Dallas time) to discuss the contents of this release and respond to questions. Please call (800) 309-5788 for US/Canada and (404) 537-3217 for International if you wish to participate, and ask for the EXCO conference call ID#33502314. 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, November 3, 2009, after market close.

A digital recording will be available starting two hours after the completion of the conference call until 11:59 p.m., November 18, 2009. Please call (800) 642-1687 and enter conference call ID#33502314 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, West Texas and the Mid-Continent.

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

DALLAS–(BUSINESS WIRE)–Sep. 30, 2009– EXCO Resources, Inc. (NYSE: XCO) (“EXCO”) today announced that it has reached an agreement with Sheridan Holding Company I, LLC to sell all of its producing assets in Oklahoma for $540 million, subject to customary purchase price adjustments.

As of December 31, 2008, the properties include estimated proved reserves of 4.8 million barrels of oil (Mmbbls) and 223.7 billion cubic feet (Bcf) of natural gas, or 252.5 billion cubic feet of natural gas equivalent (Bcfe), based on year-end SEC pricing. Current net production includes 919 barrels of oil per day and 39.1 million cubic feet per day of natural gas, or 44.6 million cubic feet of natural gas equivalent per day.

The sale is expected to close in November 2009, subject to customary closing conditions, and is effective as of October 1, 2009.

Douglas H. Miller, EXCO’s Chief Executive Officer commented, “This sale substantially completes our 2009 plan to divest certain non-strategic assets. We have now reached agreement on over $1.1 billion of such asset sales. Including our previously announced joint venture and after all closings of these asset sale transactions, we will have reduced debt by $2.0 billion. These transactions have strengthened our balance sheet and allowed us to focus more of our efforts and capital on our Haynesville and Marcellus shale plays.”

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, West Texas and the Mid-Continent.

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, Chairman, 214-368-2084
or
Stephen F. Smith, President, 214-368-2084

DALLAS–(BUSINESS WIRE)–Oct. 1, 2009– EXCO Resources, Inc. (NYSE: XCO) (“EXCO”) today announced that its Board of Directors approved the commencement of a dividend program at an initial quarterly cash dividend rate of $0.025 per share of EXCO’s common stock. The first quarterly dividend of $0.025 per share is payable on October 26, 2009 to holders of record on October 12, 2009. 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.

Douglas H. Miller, EXCO’s Chief Executive Officer, commented, “We are pleased to reward our shareholders with this dividend program. We have recently significantly reduced our debt and strengthened our financial position through the alliance with BG Group and the success of our asset divestiture program. As a result, our expected free cash flow is sufficient to enable us to begin paying a cash dividend to our shareholders. This dividend program reflects the Board’s confidence in our business strategy, the strength of our balance sheet and our commitment to creating value for our shareholders while broadening our investor base.”

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, West Texas and the Mid-Continent.

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, Chairman, 214-368-2084
or
Stephen F. Smith, President, 214-368-2084

DALLAS–(BUSINESS WIRE)–Oct. 19, 2009– EXCO Resources, Inc. (NYSE: XCO) (“EXCO”) today announced that the lenders under the EXCO Resources, Inc. revolving credit agreement and the EXCO Operating Company, LP revolving credit agreement completed their regular semi-annual redetermination of the borrowing bases under each credit agreement to equal $850 million, resulting in an aggregate borrowing base of $1.7 billion. Currently, $751.4 million is drawn under the EXCO Resources, Inc. revolving credit agreement and $488.2 million is drawn under the EXCO Operating Company, LP revolving credit agreement.

In connection with the regular semi-annual redetermination of the borrowing bases, the lenders under the EXCO Resources, Inc. revolving credit agreement have agreed to reduce the borrowing base to $450 million upon the closing of the previously announced sales of oil and natural gas properties in Appalachia and the Mid-Continent. The aggregate borrowing base will be reduced to $1.3 billion. Total proceeds of $685 million, subject to customary closing adjustments, will be used to repay outstanding debt under the EXCO Resources, Inc. revolving credit agreement.

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, West Texas and the Mid-Continent.

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
www.excoresources.com

DALLAS–(BUSINESS WIRE)–Nov. 19, 2009– EXCO Resources, Inc. (NYSE: XCO) (“EXCO”) today announced that its Board of Directors declared a fourth quarter cash dividend of $0.025 per share payable on December 15, 2009 to holders of record on November 30, 2009. 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.

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
www.excoresources.com

DALLAS, Nov 24, 2009 (BUSINESS WIRE) — The Board of Directors of EXCO Resources, Inc. (NYSE: XCO) (“EXCO”) has approved a capital budget of $471.4 million for 2010. The budget is expected to be fully funded with cash flow from operations and is expected to provide significant increases in production and reserves. The capital budget, which is net of an estimated $205.1 million carry by BG Group for certain drilling and completion spending in our East Texas/North Louisiana joint venture area, is allocated among our different budget categories as follows:
(Dollars in millions)
Drilling and Completion $ 217.4
Land 78.2
Seismic 32.3
Recompletion/Exploitation/Operations 79.4
Midstream (Including $7.8 million equity contribution to TGGT) 39.1
Corporate and Other 25.0
Total $ 471.4
We currently have 13 operated drilling rigs across our portfolio, and we anticipate that this will increase to 17 during the first quarter and remain relatively flat throughout the remainder of 2010. Details of our plans within the various divisions and entities follow:

Number Drilling Other Total
(Dollars in millions) of Wells Capital Capital Capital
East Texas/North Louisiana

138 $ 126.1 $ 129.1 $ 255.2
Appalachia

27 65.0 89.2 154.2
Permian 40 26.3 2.9 29.2
TGGT Holdings (Midstream JV) — — 7.8 7.8
Corporate and Other — — 25.0 25.0
Total 205 $ 217.4 $ 254.0 $ 471.4
East Texas/North Louisiana Division:

The capital budget program in East Texas/North Louisiana includes plans to spend $255.2 million net to EXCO, or approximately 54% of the total EXCO capital budget. We plan to drill and complete 115 gross (36.6 net) operated and 23 gross (1.3 net) non-operated wells in the division.

EXCO/BG Group Joint Venture (JV) – While we plan to spend a total of $740.8 million within the JV, only $165.3 million of this amount will be spent by EXCO as BG Group will fund $205.1 million of EXCO’s portion of deep drilling and completion costs. The carry results in BG Group’s paying 75% of EXCO’s share of deep drilling and completion until BG Group’s $400 million carry commitment is satisfied. Of the $165.3 million that is net to EXCO, $78.9 million will be spent for drilling and completion costs, $50.0 million for lease acquisitions, $31.8 million for operations projects, and $4.6 million for seismic data acquisition. Since closing the joint venture in August, we have acquired approximately 17,000 additional net acres. BG Group has the right to acquire half of these acres. We continue to negotiate for the acquisition of more acreage.

We are primarily drilling Haynesville shale targets, and we plan to have 14 operated drilling rigs within the JV area throughout the year. These rigs should allow us to drill and complete 108 gross (30.6 net) operated wells, 95 (26.4 net) of which are Haynesville shale targets, seven of which are Bossier shale targets, and six of which are planned Cotton Valley horizontals. Of our 14 operated drilling rigs, 13 will drill in our Holly area in DeSoto Parish and southern Caddo Parish, Louisiana, which we believe to be an outstanding area within the Haynesville shale play. One rig will drill in our Jonesville/Waskom area which includes eastern Harrison County, Texas and western Caddo Parish, Louisiana. All of our 23 planned non-operated wells to be drilled are within the JV area.

Vernon Area – In the Vernon area, we typically drill for deep Cotton Valley targets. We plan to drill seven gross (6.0 net) wells and spend a total of $47.2 million drilling to test various zones for productivity. The overall budget within the Vernon area totals $89.9 million, with our non-drilling spending including $27.0 million for workovers and miscellaneous operations and midstream projects, $10.4 million for seismic data acquisition, and $5.3 million for land.

Appalachia Division:

The capital budget program for our Appalachia Division totals $154.2 million, of which $65.0 million will be spent to drill and complete 11 gross (11.0 net) operated horizontal Marcellus shale wells, four gross (0.6 net) non-operated Marcellus shale horizontal wells, six gross (6.0 net) vertical Marcellus shale wells, and six gross (6.0 net) shallow wells which are being drilled primarily to hold deep acreage. We have identified five focus areas within the Marcellus shale play. We expect to drill nine gross (9.0 net) operated horizontal wells during 2010 in central Pennsylvania, but we also expect to drill vertical and horizontal wells within other areas of the play to test and hold acreage.

Other spending within the division includes $22.6 million for leasing land, $17.2 million for seismic data acquisition, and $28.6 million to expand our midstream system, all within the Marcellus shale areas. The remaining $20.8 million of the capital budget will support various operations initiatives.

Permian Division:

We have a capital budget totaling $29.2 million for our Permian Division. Within this budget, $26.3 million will be spent to drill and complete 40 gross (38.7 net) operated wells, 36 gross (34.7 net) of which are in our Sugg Ranch Field. The target zones include Clearfork, Wolfcamp, Canyon and Fusselman formations, which we believe contain higher oil bearing opportunities. The remaining four wells to be drilled will target zones within existing acreage blocks we hold within the Permian Basin.

TGGT Holdings, LLC (TGGT):

TGGT is the midstream joint venture owned equally by EXCO and BG Group in East Texas/North Louisiana. The TGGT capital budget will support installation of lateral lines, well flowlines, amine treating and dehydration equipment, among others. As TGGT is a stand-alone entity, the bulk of its $101.0 million ($50.5 million net to EXCO’s interest) capital budget will be provided by internal TGGT cash flow, but there is a forecast cash call of $7.8 million net to EXCO that we have included within the EXCO capital budget.

EXCO Resources, Inc. is an oil and natural gas exploration, 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 our website at www.excoresources.com. Our 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 or business expectations. 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
www.excoresources.com

DALLAS–(BUSINESS WIRE)–Nov. 24, 2009– EXCO Resources, Inc. (NYSE: XCO) (“EXCO”) today closed the previously announced sale of certain Ohio and Northwestern Pennsylvania producing assets to EV Energy Partners, L.P., (Nasdaq: EVEP), along with certain institutional partnerships managed by EnerVest, Ltd. The sale was effective as of September 1, 2009. Total proceeds received at the closing were $131.2 million, subject to customary post-closing adjustments. In connection with the closing, the parties agreed to hold back approximately $13.1 million of the properties for up to 90 days pending the receipt of required consents from third parties necessary to transfer such properties. The proceeds from the sale were used to repay a portion of EXCO’s revolving credit facility.

Excluding those properties being held back, the properties sold include estimated proved reserves of 1.9 million barrels of oil and 73.1 billion cubic feet of natural gas, or 84.5 billion cubic feet of natural gas equivalent, based on SEC pricing as of September 30, 2009. Current net production is approximately 15 million cubic feet of natural gas equivalent per day for the properties sold at the closing.

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 http://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww.excoresources.com&esheet=6107762&lan=en_US&anchor=www.excoresources.com&index=1&md5=a1c9f66d302807debe00e33f944376d0. 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
http://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww.excoresources.com&esheet=6107762&lan=en_US&anchor=www.excoresour