PJT Partners Investment Banking Pitch Book
Drilling Inventory
EXCO has economic drilling inventory that can support the Company's capital plan for at least the next
5 years without pricing or well performance improvements with a four rig drilling program.
BREAKEVEN PRICE REQUIRED FOR 25% IRR
PW/S
$4.00
$3.50
$3.00
$2.50
> $2.00
$1.50
$1.00
$0.50
$0.00
Gross
Locations
$35.50
Spot: Gas $2.96; Oil $51.50(1)
49
$2.42
STX Eagle Ford NLA-CADOO NA-DESOTO
Core Tier 1 (7500 LL)
45
$2.52
Source: Company presentations.
(1) As of 9/29/17,
$2.66
ETX-
NLA-CADOO
CORE (4500 LL) HIGHLANDER (4500 LL)
(6500 LL)
17
$2.70
57
24
262 Locations 546 Locations
$48.50
STX Eagle Ford
Core Tier 2
38
$2.90
APP-EAST
LYCOMING
NORTH (5900
113
#S/MCF
32
$3.08
#S/ Bibl
$3.10
ETX-
ETX-JEBEL APP-WEST
HIGHLANDER HSVL (7500 LL) LYCOMING
BSSR (6500 LL)
(5000LL)
65
$3.29
63
Old forecast, not necessarily
representative of Company's current
business plan and financial forecast
89
$3.30
ETX-JEBEL
SOUTH BSSR
(7500LL)
48
808 Total Locations
$3.53
$3.58
43
ETX-JEBEL NLA-HOLLY APP.
NORTH BSSR BOSSER (7500 ARMSTRONG
(7500 LL)
(5700 LL)
$3.60
167
71
$70.00
$60.00
$50.00
$40.00
$30.00
$20.00
$10.00
$0.00
S/ Bbl
7
DRAFTView entire presentation