15 Dec 2017listing compliance notice▼ BadMajor
EXCO received yet another NYSE noncompliance notice, the latest in a string stretching back to 2015 as its depressed share price kept it below listing standards.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
27 Nov 2017material agreement▼ Bad
EXCO's lenders made a narrow technical change to its credit agreement, excluding certain ordinary-course payables from the definition of debt - a minor covenant accommodation amid the broader crisis.
13 Nov 2017substantial holder notice● Neutral
Energy Strategic Advisory Services LLC, Bluescape Energy Recapitalization and Restructuring Fund III LP, Bluescape Energy Partners III GP LLC, Bluescape Resources GP Holdings LLC, Charles John Wilder, Jr reported a EXCO RESOURCES INC shareholding of 6,451,755 shares (24.20% of votes) in a periodic institutional filing.
7 Nov 2017quarterly activities report▼ Bad
EXCO RESOURCES INC reported quarterly revenue of $66.7 million and a net loss of $18.8 million for the period ended 2017-09-30.
7 Nov 2017quarterly activities report▼ Bad
EXCO RESOURCES INC reported quarterly revenue of $66.7 million and a net loss of $18.8 million for the period ended 2017-09-30.
5 Oct 2017material agreement▼ BadMajor
EXCO's bank lenders waived a looming default under its credit agreement's leverage covenant, an eighth amendment that bought time rather than fixed the underlying problem.
7 Sept 2017debt financing▼ BadMajor
EXCO drew down its revolving credit facility and hired restructuring advisors PJT Partners and Alvarez & Marsal to evaluate strategic alternatives for its capital structure, on top of bankruptcy counsel Kirkland & Ellis it had already retained in mid-2016 - an explicit signal it was preparing for the possibility of a formal restructuring.
18 Aug 2017director interest notice● Neutral
EXCO RESOURCES INC officer Brian Gaebe sold 141 shares at $1.14.
18 Aug 2017director interest notice● Neutral
EXCO RESOURCES INC officer Tyler Farquharson sold 52 shares at $1.14.
16 Aug 2017listing compliance notice▼ BadMajor
EXCO's planned $300 million Eagle Ford sale to VOG Palo Verde collapsed entirely after Chesapeake purportedly terminated a legacy gas contract, shutting in EXCO's wells and triggering a lawsuit between the two companies; EXCO also picked up yet another NYSE noncompliance notice the same day.
9 Aug 2017director interest notice● Neutral
Fairfax Financial Holdings Ltd/ Can became a EXCO RESOURCES INC 10%+ owner and company insider (initial ownership filing).
8 Aug 2017quarterly activities report● Neutral
EXCO RESOURCES INC reported quarterly revenue of $71.0 million and net income of $120.8 million for the period ended 2017-06-30.
8 Aug 2017quarterly activities report● Neutral
EXCO RESOURCES INC reported quarterly revenue of $71.0 million and net income of $120.8 million for the period ended 2017-06-30.
2 Aug 2017securities registration● Neutral
EXCO RESOURCES INC registered a securities offering with the SEC using its shelf eligibility.
6 July 2017director interest notice● Neutral
EXCO RESOURCES INC officer Tyler Farquharson sold 316 shares at $2.62.
6 July 2017director interest notice● Neutral
EXCO RESOURCES INC CEO & President Harold L Hickey sold 4,390 shares.
6 July 2017director interest notice● Neutral
EXCO RESOURCES INC officer Brian Gaebe sold 306 shares at $2.62.
6 July 2017director interest notice● Neutral
EXCO RESOURCES INC Chief Operating Officer Harold H Jameson sold 1,837 shares.
30 June 2017substantial holder notice● Neutral
Energy Strategic Advisory Services LLC, Bluescape Energy Recapitalization and Restructuring Fund III LP, Bluescape Energy Partners III GP LLC, Bluescape Resources GP Holdings LLC, Charles John Wilder, Jr reported a EXCO RESOURCES INC shareholding of 6,451,755 shares (24.20% of votes) in a periodic institutional filing.
23 June 2017material agreement▼ BadMajor
EXCO's Eagle Ford sale to VOG Palo Verde was pushed back weeks and the buyer clawed back part of its deposit, after a dispute with Chesapeake over a gas sales contract forced EXCO to shut in wells the deal's closing depended on.
22 June 2017capital raising announcement▼ BadMajor
EXCO paid a $27.6 million interest bill on its new 1.75-lien term loans in stock rather than cash, issuing 2.75 million shares at a 15% payment-in-kind rate (versus 12.5% cash) to preserve cash for its North Louisiana drilling program - a further sign of a company conserving every dollar.
15 June 2017substantial holder notice● Neutral
Energy Strategic Advisory Services LLC, Bluescape Energy Recapitalization and Restructuring Fund III LP, Bluescape Energy Partners III GP LLC, Bluescape Resources GP Holdings LLC, Bluescape Resources Company LLC, Charles John Wilder, Jr reported a EXCO RESOURCES INC shareholding of 6,259,145 shares (26.18% of votes) in a periodic institutional filing.
12 June 2017director interest notice● Neutral
Energy Strategic Advisory Services LLC became a EXCO RESOURCES INC 10%+ owner and company insider (initial ownership filing).
2 June 2017director interest notice● Neutral
EXCO RESOURCES INC director John C Wilder Jr. bought 75,268,818 shares on the open market at $0.00.
17 May 2017director interest notice● Neutral
EXCO RESOURCES INC Chief Operating Officer Harold H Jameson sold 5,200 shares at $0.40.
17 May 2017director interest notice● Neutral
EXCO RESOURCES INC officer Brian Gaebe sold 2,874 shares at $0.57.
10 May 2017quarterly activities report● Neutral
EXCO RESOURCES INC reported quarterly revenue of $76.5 million and net income of $8.2 million for the period ended 2017-03-31.
9 May 2017quarterly activities report● Neutral
EXCO RESOURCES INC reported quarterly revenue of $76.5 million and net income of $8.2 million for the period ended 2017-03-31.
13 Apr 2017material agreement▼ BadMajor
EXCO agreed to sell its Eagle Ford properties in South Texas to Venado Oil and Gas's VOG Palo Verde unit for $300 million - less than half the $685 million it paid Chesapeake for the same play in 2013, underscoring how far asset values and EXCO's negotiating position had fallen.
10 Apr 2017director interest notice● Neutral
Randall E King became a EXCO RESOURCES INC director and company insider (initial ownership filing).