EXCO Resources, Inc. (XCO) - NYSE
  • May 29, 2015, 5:25 PM
    • Natural gas production in the Marcellus shale, which has grown over the past decade from near zero to ~20% of U.S. output, may decline for the first time if prices in the basin remain low for much longer, the U.S. Energy Information Administration says.
    • "Relatively low gas prices, combined with low oil prices, have slowed drilling in the Marcellus so production from new wells is only offsetting the decline in old wells," EIA says, expecting Marcellus output to remain flat through 2018 before declining ~1%/year during 2019-25.
    • Recent data indicates a potential slowdown: The number of rigs in the area has dwindled to its lowest since 2011, and drillers including Chesapeake Energy (NYSE:CHK) and Cabot Oil & Gas (NYSE:COG) have temporarily shut in some production due to weak regional prices.
    • An inability to move all the gas out of the Marcellus region has depressed prices there compared with the Gulf coast benchmark, the Henry Hub in Louisiana, making it less attractive for local producers to drill more.
    • Other top Marcellus producers include RRC, RDS.A, RDS.B, TLM, APC, ATLS, CVX, CNX, EQT, EOG, XOM, WPX, XCO, CRZO, SWN, AR.
    | May 29, 2015, 5:25 PM
  • Apr. 28, 2015, 4:19 PM
    • EXCO Resources (NYSE:XCO): Q1 EPS of -$0.07 beats by $0.02.
    • Revenue of $86.3M (-56.5% Y/Y) misses by $12.8M.
    | Apr. 28, 2015, 4:19 PM | 9 Comments
  • Apr. 9, 2015, 7:21 PM
    • Radon levels have been rising measurably in Pennsylvania since 2004, when the fracking industry began drilling natural gas wells in the state, according to a new report by the Johns Hopkins Bloomberg School of Public Health.
    • The report does not pinpoint the exact cause of rising radon readings or explicitly tie it to any activity, but it says that buildings in counties where natural gas is most actively being extracted have in the past decade had much higher radon measurements than buildings in low-activity areas, where no such discrepancies were found before 2004.
    • Pennsylvania has long been known to have some of the highest indoor radon levels in the U.S., but the researchers say fracking of the Marcellus shale formation could exacerbate pathways for radon to enter buildings.
    • Top Marcellus Shale producers include CHK, RRC, RDS.A, RDS.B, TLM, APC, ATLS, COG, CVX, CNX, EQT, EOG, XOM, WPX, XCO, CRZO, SWN, AR.
    | Apr. 9, 2015, 7:21 PM | 89 Comments
  • Apr. 1, 2015, 9:53 AM
    • Exco Resources (XCO +2.7%) names a new chief executive as part of a new partnership with energy focused P-E firm Bluescape Resources to help turn around its flagging business.
    • XCO appoints Bluescape Executive Chairman John Wilder as its Executive Chairman, while XCO President and COO Harold Hickey becomes XCO's President and CEO.
    • Bluescape agrees to purchase $10M in XCO common shares from the company and an additional $40M shares in the open market within one year from closing, and will receive a cash retainer and warrant package.
    | Apr. 1, 2015, 9:53 AM | 4 Comments
  • Feb. 24, 2015, 4:21 PM
    • EXCO Resources (NYSE:XCO): Q4 EPS of -$0.02 misses by $0.01.
    • Revenue of $127.78M (-29.0% Y/Y) misses by $11.11M.
    | Feb. 24, 2015, 4:21 PM | 4 Comments
  • Feb. 12, 2015, 11:33 AM
    • Pennsylvania Gov. Tom Wolf is proposing a new 5% severance tax on natural gas extraction in the state, saying the measure could generate $1B or more.
    • The measure could face some pushback in the state's Republican-controlled legislature, but some kind of fracking tax could pass, as lawmakers from both parties already have proposed taxes from 3.2% to 8%.
    • Like other major natural gas producing states, Pennsylvania already has a severance tax on the value of the gas extracted at the wellhead.
    • Top Marcellus Shale producers include CHK, RRC, RDS.A, RDS.B, TLM, APC, ATLS, COG, CVX, CNX, EQT, EOG, XOM, WPX, XCO, CRZO, SWN, AR.
    | Feb. 12, 2015, 11:33 AM | 52 Comments
  • Jan. 7, 2015, 7:05 PM
    • U.S. oil producers will keep pumping, even at sub-$50 crude oil, because they have to pay off debt, but they are having trouble keeping up with debt payments in the wake of raising their borrowing 55% since 2010 to nearly $200B, WSJ reports.
    • Energy analysts warn defaults could be coming: “The group is not positioned for this downturn... There are too many ugly balance sheets,” says Baird's Daniel Katzenberg.
    • Lenders are already doling out tough love to companies, MLV amalyst Chad Mabry says, with some lenders wanting to see producer plans for handling further price drops while others are urging asset sales.
    • The 10 highest ratios of net debt/EBITDA from the last 12 months, according to S&P Capital IQ, belong to KWK, AR, WRES, GDP, REN, HK, XCO, REXX, MPO, EPE.
    | Jan. 7, 2015, 7:05 PM | 11 Comments
  • Dec. 20, 2014, 1:34 PM
    • These five oil and gas producers have among the highest net debt-to-capital ratios in the industry, writes Avi Salzman, which could be an issue if oil prices stay at these levels:
    • Ultra Petroleum (NYSE:UPL) at 115%, EXCO Resources (NYSE:XCO) at 90.3%, Halcon Resources (NYSE:HK) at 68.7%, W&T Offshore (NYSE:WTI) at 68.1%, Energy XXI (NASDAQ:EXXI) at 65.2%.
    • Previously: Barron's: Five oils to buy now (Dec. 20, 2014)
    | Dec. 20, 2014, 1:34 PM | 27 Comments
  • Dec. 17, 2014, 2:20 PM
    • New York Gov. Cuomo's administration says it will ban fracking statewide, citing health concerns and what it considers as limited economic benefits to drilling.
    • NY's acting health commissioner said at a cabinet meeting in Albany today that studies on fracking’s effects on water, air and soil are inconsistent, incomplete and raise too many “red flags” for the state to allow it; the state Department of Environmental Conservation will now issue a legally-binding recommendation prohibiting fracking.
    • The state has had a de facto moratorium on fracking for more than six years, so nothing really changes with today's decision.
    • Parts of New York sit atop the gas-rich Marcellus shale formation, whose top producers include CHK, RRC, RDS.A, RDS.B, TLM, APC, ATLS, COG, CVX, CNX, EQT, EOG, XOM, WPX, XCO, CRZO, SWN, AR.
    | Dec. 17, 2014, 2:20 PM | 123 Comments
  • Dec. 15, 2014, 9:12 AM
    | Dec. 15, 2014, 9:12 AM | 1 Comment
  • Dec. 15, 2014, 8:05 AM
    • EXCO Resources (NYSE:XCO) says it has suspended its dividend to provide additional funds to reinvest into the company
    • XCO's board says shareholders would be better served by reinvesting in the business in light of the decline in oil prices, and says it is allocating capital to the highest risk adjusted return investments as it develops its 2015 budget.
    | Dec. 15, 2014, 8:05 AM | 5 Comments
  • Dec. 2, 2014, 5:44 PM
    • Oil producers with the most debt are the most at risk in a ~$70/bbl oil price environment, since they have more relative cash flow directed toward interest payments rather than drilling, so they’re most likely to see production declines.
    • For investors looking to limit risk, MarketWatch's Philip Van Doorn provides a list of U.S. shale oil producers with market values of at least $50M and share prices above $1 with the highest ratios of debt to equity, in order: UPL, MPO, MRD, ISRL, JONE, XCO, PQ, GDP, LINE, HK.
    | Dec. 2, 2014, 5:44 PM | 32 Comments
  • Nov. 24, 2014, 5:43 PM
    • Top gainers, as of 5:15 p.m.: GAZ +10.5%. VMEM +7.8%. CRK +5.6%. NUAN +3.5%. XCO +3.3%.
    • Top losers, as of 5:15 p.m.: WDAY -9.7%. GOMO -8.6%. ANFI -7.5%. LL -4.6%. PANW -3.7%.
    | Nov. 24, 2014, 5:43 PM
  • Nov. 7, 2014, 5:35 PM
    | Nov. 7, 2014, 5:35 PM | 3 Comments
  • Oct. 28, 2014, 4:22 PM
    • EXCO Resources (NYSE:XCO): Q3 EPS of $0.01 misses by $0.01.
    • Revenue of $151.04M (-8.6% Y/Y) misses by $21.66M.
    • Shares -1.1%.
    | Oct. 28, 2014, 4:22 PM
  • Oct. 14, 2014, 12:44 PM
    | Oct. 14, 2014, 12:44 PM
Company Description
EXCO Resources, Inc. is an independent oil and natural gas company. It engages in the exploration, exploitation, acquisition, development, and production of onshore U.S. oil and natural gas properties with a focus on shale resource plays. The company holds interests in various projects located... More
Industry: Independent Oil & Gas
Country: United States