Equity Investments (Tables)

3 Months Ended

Mar. 31, 2012

Equity Investments [Abstract]

Schedule Of Equity Investments

(in thousands)	March 31, 2012		December 31, 2011
Assets
Total current assets	$	186,127	$	227,911
Property and equipment, net		1,195,480		1,173,642
Other assets		5,438		6,570
Total assets	$	1,387,045	$	1,408,123
Liabilities and members' equity
Total current liabilities	$	207,217	$	256,794
Total long term liabilities		507,645		462,669
Members' equity:
Total members' equity		672,183		688,660
Total liabilities and members' equity	$	1,387,045	$	1,408,123

	Three months ended
(in thousands)	March 31, 2012			March 31, 2011
Revenues
Oil and natural gas	$	105		$	126
Midstream		62,924			54,182
Total revenues		63,029			54,308
Costs and expenses:
Oil and natural gas production		57			(7	)
Midstream operating		20,603			24,231
Asset impairment		35,343			0
General and administrative		7,408			5,080
Depreciation, depletion, and amortization		9,302			6,505
Other expenses		6,828			2,012
Total costs and expenses		79,541			37,821
Income (loss) before income taxes		(16,512	)		16,487
Income tax expense		238			335
Net income (loss)	$	(16,750	)	$	16,152
EXCO's share of equity (loss) income before amortization	$	(8,375	)	$	8,076
Amortization of the difference in the historical basis of our contribution	$	469		$	469
EXCO's share of equity (loss) income after amortization	$	(7,906	)	$	8,545
(in thousands)	March 31, 2012			December 31, 2011
Equity investments	$	295,064		$	302,833
Basis adjustment (1)		45,755			45,755
Cumulative amortization of basis adjustment (2)		(4,727	)		(4,258	)
EXCO's 50% interest in equity investments	$	336,092		$	344,330

(1) Our equity in TGGT and OPCO, at inception, exceeded the book value of our investments by an aggregate of $45.8 million, comprised of an aggregate $57.2 million difference in the historical basis of our contribution and the fair value of BG Group's contribution, offset by $11.4 million of goodwill included in our investment in TGGT.

(2) The aggregate $57.2 million basis difference is being amortized over the estimated life of the associated assets.