103 million for capital programs for the first half of the year is not bad.
They have allot of great assets to carry them through. It's not only the price of oil and gas down today
but the market. So it is actually holding up pretty good.
From $395 mil to $ 334 mil. They didn't think that was important to mention in press release. Also, SEC value dropped from 1.5 B last year to 400 mil so there borrowing base redetermination on March 1 will likely shrink the 375 mil credit by a substantial amount further impacting liquidity. They didn't tell you that either. But don't worry they are going to spend 100 mil to drill and sell oil at 30 and NG at 2. Why? Because for the second straight quarter production has dropped 6% and they have to do something. This company will be bankrupt before year end
EXCO Resources, Inc. Announces Operational and Financial Update for Year-End 2015
February 08, 2016 06:00 AM Eastern Standard Time
DALLAS--(BUSINESS WIRE)--EXCO Resources, Inc. (NYSE: XCO) (“EXCO” or the "Company") is providing an operational and financial update, which includes select preliminary unaudited financial and reserve data, for the quarter and year ended December 31, 2015.
Estimated liquidity of $334 million as of December 31, 2015
Repurchased $41 million aggregate principal amount of its 7.5% senior unsecured notes due September 15, 2018 ("2018 Notes") at an average price of 29% of principal amount, capturing $29 million of discount to face value
Estimated production of 29.3 Bcfe for the fourth quarter 2015 and 124.0 Bcfe for the full year 2015, both in-line with the mid-point of guidance
Estimated proved reserves of 907.3 Bcfe and PV-10 calculated using the prices prescribed by the Securities and Exchange Commission ("SEC PV-10") of $402 million, as of December 31, 2015. PV-10 of proved reserves based on NYMEX futures prices as of December 31, 2015 ("NYMEX PV-10") was $811 million(*)
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XCO reports miserable, pathetic, hopeless earnings, confirming that there business model is broken and they have no future. Every day production is dropping.
After tehy report the trading swing range related to the price of oil will drop substantially.
I have been patient waiting for Marathon Oil to drop to 3 dollars and BP to 20, I will pass on Line and KMI and this stock to..
Sentiment: Strong Sell
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0 points can be made the other way. 1 point is 100%. Have you ever heard of Magnum Hunter? Sandridge? What is different about XCO? Do you know how to read a balance sheet? An income statement? Have you seen this company report hundreds of millions of CFFO every year at $ 100 oil only to build $ 1.5 bil in debt? Is Capex really separate from operations? Did you see the 6% decline, quarter over quarter, all the while the company spent millions in drilling? Do you have the capacity to understand what will happen to production as they pull back even more on spending, which they are already doing? Wilder can nickel and dime here and there but he can't save this company. Maybe he can get himself some sweet assets in BK. This stock rises 30% on an rise in oil prices that will make this company BK. $ 1.2 bil in debt...declining production...increased interest expense...$ 2 NG...$30 oil...this company is sick...do not hold this stock into earnings...February 22nd...but gee maybe I am wrong and this isn't really happening...maybe Russia and Saudi Arabia will make friends in Syria and cut production and none of the sick oil companies will step aside and say "let prices rise and let XCO pick up the production",...or maybe they will just turn on the spigots for all the wells they have shut in and maintain the GLUT, GLUT GLUT
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What is the deal with the recent volatility in Exco? I think we had a couple 20% up days last week and then some 20+% drop yesterday and now another double digit % gain today (so far, anyway). Oh well, at least it's a bit of a change from the mindless daily drops we were having...
Wow you can make point shorting? You're big time dude. What if you are wrong, how many points can be made the other way?
Hard for me to make the case for buying xom, rds, tot, et al, let alone a #$%$ company like this who couldn't make money at oil 105bbl, ng 4.50
...the noteholders didn't agree to reduce the debt for free, instead, they get a higher interest rate. Yep, the next quarterly report will show increased interest expense. That means more cash to the bondholders before bankruptcy.