EXCO emerges from Chapter 11 as privately owned firm

    July 1, 2019
    Through a financial restructuring and the Chapter 11 process, EXCO Resources Inc. has reduced its leverage by more than $1.1 billion and is moving forward with $325 million in committed exit financing from a new credit facility.

    Through a financial restructuring and the Chapter 11 process, EXCO Resources Inc. has reduced its leverage by more than $1.1 billion and is moving forward with $325 million in committed exit financing from a new credit facility (OGJ Online, Jan. 16, 2018).

    EXCO will continue to engage in the exploration, acquisition, development and production of onshore US oil and natural gas properties with a focus on shale resource plays in Texas, Louisiana, and the Appalachia region.

    EXCO’s current management team remains in place. In accordance with the restructuring plan, the company’s new five-member board includes representatives from the holders of the company’s newly issued common stock.

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