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Last $1.76 USD
Change Today -0.20 / -10.20%
Volume 2.4M
XCO On Other Exchanges
Symbol
Exchange
New York
As of 8:04 PM 03/27/15 All times are local (Market data is delayed by at least 15 minutes).

exco resources inc (XCO) Key Developments

EXCO Resources Inc. Presents at 43rd Annual Scotia Howard Weil Energy Conference, Mar-26-2015

EXCO Resources Inc. Presents at 43rd Annual Scotia Howard Weil Energy Conference, Mar-26-2015 . Venue: Roosevelt New Orleans Hotel, 130 Roosevelt Way, New Orleans, Louisiana, United States. Speakers: Harold L. Hickey, President and Chief Operating Officer, Richard Alan Burnett, Chief Financial Officer, Chief Accounting Officer and Vice President.

EXCO Resources Inc. Announces Resignation of T. Boone Pickens as Board of Directors

T. Boone Pickens resigned from the Board of Directors of EXCO Resources Inc., effective March 2, 2015. Mr. Pickens informed the company that he is resigning to devote his attention to the operations of his firm. Mr. Pickens’ decision to resign as a director did not involve any disagreement with the company.

EXCO Resources Announces to Cut Jobs

EXCO Resources announced that it will cut it's workforce by 15% while cutting its capital budget by 35%, for 2015.

EXCO Resources Inc. Reports Un-Audited Consolidated Earnings and Production Results for the Fourth Quarter and Year Ended December 31, 2014

EXCO Resources Inc. reported un-audited consolidated earnings and production results for the fourth quarter and year ended December 31, 2014. For the quarter, the company GAAP net income of $81.4 million, or $0.30 per diluted share compared with net income of $41.6 million, or $0.15 per diluted share, for the third quarter 2014. The increase in net income was primarily due to volatility in commodity prices which resulted in higher unrealized gains on derivative contracts in the fourth quarter 2014. This was partially offset by lower revenues in the fourth quarter 2014 due to a decrease in production and realized commodity prices. GAAP net loss was $122.9 million or $0.57 per diluted share in fourth quarter of last year. Adjusted EBITDA was $80.6 million compared with $93.6 million for the third quarter 2014 and $123.7 million in last year. Adjusted net loss, a non-GAAP measure, was a loss was $4.2 million $0.02 per diluted share compared with adjusted net income of $1.7 million or $0.01 per diluted share for the third quarter 2014 and adjusted net income of $9.5 million or $0.04 per diluted share in last year. The company reported total revenues of $127.8 million compared to $180.4 million, operating income of $3.3 million compared to operating loss of $79.3 million, income before income taxes of $81.4 million compared to loss before income taxes of $122.9 million and net cash provided by operating activities of $3.7 million compared to $127.3 million for the last year. For the year, the company reported GAAP net income of $121.7 million, or $0.45 per diluted share compared with net income of $22.2 million, or $0.10 per diluted share, for the year ended 2013. The increase in net income for the year ended 2014 was primarily due to higher revenues from oil production in the Eagle Ford shale and higher realized natural gas prices. Adjusted EBITDA was $391.2 million compared with $417.5 million for the year ended 2013. Adjusted net income was $0.06 per diluted share compared with $0.30 per diluted share for the year ended 2013. Adjusted net income of $16.7 million or $0.06 per diluted share compared to $68.3 million or $0.30 per diluted share in last year. The company reported total revenues of $660.3 million compared to $634.3 million, operating income of $126.9 million compared to $179.2 million, income before income taxes of $120.7 million compared to $22.2 million, net cash provided by operating activities of $362.1 million compared to $350.6 million, additions to oil and natural gas properties, gathering assets and equipment of $391.8 million compared to $320.5 million and property acquisitions of $10.8 million compared to $976.7 million for the last year. Oil, natural gas and natural gas liquid (‘NGL’) production was 31 Bcfe, or 340 Mmcfe per day, for the fourth quarter 2014 compared with 33 Bcfe, or 358 Mmcfe per day, in the third quarter 2014 and 446 Mmcfe in fourth quarter of 2014. Oil, natural gas and NGL production was 136 Bcfe, or 372 Mmcfe per day, for the year ended 2014 compared with 162 Bcfe, or 444 Mmcfe per day, for the year ended 2013. The decrease in year over year production was primarily the result of natural production declines in East Texas/North Louisiana region and was partially offset by higher oil production from South Texas region.

EXCO Resources Inc. Announces Credit Agreement Amendment

EXCO Resources Inc. announced that it has amended the amended and restated credit agreement to provide EXCO the financial flexibility to selectively develop its asset base while deferring a significant amount of the company’s drilling inventory until commodity prices improve. The credit agreement was amended to remove the total consolidated leverage ratio through September 2016 and then be reinstated in the fourth quarter of 2016 at 6.00x stepping down to 4.50x for the first quarter of 2018; add a senior secured leverage ratio of 2.50x and an interest coverage ratio of 2.00x; and to set the borrowing base at $725 million.

 

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Industry Analysis

XCO

Industry Average

Valuation XCO Industry Range
Price/Earnings 3.9x
Price/Sales 0.7x
Price/Book 0.9x
Price/Cash Flow 1.3x
TEV/Sales NM Not Meaningful
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