IMHO "Go Private" was an attempted strategy to allow EXCO to be more leveraged whilst navigating the predicted low gas prices. EXCO being 99% Nat Gas for so long and the senior management also having spent the best part of their careers working Nat Gas, saw ahead of the glut and subsequent price bottoming, that so much new product coming to market would lead to a glut and low prices. Why didn't they buy into oil plays? Because their expertise is Nat Gas. Better to "Go Private" and use the more flexible SEC rules for private companies to leverage to the maximum and buy up quality distressed Nat Gas assets. It didn't turn out that way for EXCO, but they appear to have weathered the storm of the lowest prices that I think we are likely to see for some time. Now that we appear to be coming out of the price lows there would not really be any need for EXCO to "Go Private".