Condensed Consolidating Financial Statements (Tables)

3 Months Ended

Mar. 31, 2012

Condensed Consolidating Financial Statements [Abstract]

Schedule Of Condensed Consolidating Balance Sheet

EXCO RESOURCES, INC.

CONDENSED CONSOLIDATING BALANCE SHEET

(Unaudited)

March 31, 2012

(in thousands)	Resources			Guarantor subsidiaries			Non-guarantor subsidiaries			Eliminations			Consolidated
Assets
Current assets:
Cash and cash equivalents	$	51,649		$	(21,078	)	$	0		$	0		$	30,571
Restricted cash		0			164,042			0			0			164,042
Other current assets		182,984			225,253			0			0			408,237
Total current assets		234,633			368,217			0			0			602,850
Equity investments		0			0			295,064			0			295,064
Oil and natural gas properties (full cost accounting method):
Unproved oil and natural gas properties and development costs not being amortized		13,038			610,230			0			0			623,268
Proved developed and undeveloped oil and natural gas properties		478,001			2,842,976			0			0			3,320,977
Accumulated depletion		(318,373	)		(1,424,308	)		0			0			(1,742,681	)
Oil and natural gas properties, net		172,666			2,028,898			0			0			2,201,564
Gas gathering, office and field equipment, net		26,885			120,316			0			0			147,201
Investments in and advances to affiliates		534,146			0			0			(534,146	)		0
Deferred financing costs, net		28,101			0			0			0			28,101
Derivative financial instruments		5,690			4,383			0			0			10,073
Goodwill		38,100			180,156			0			0			218,256
Other assets		1			27			0			0			28
Total assets	$	1,040,222		$	2,701,997		$	295,064		$	(534,146	)	$	3,503,137
Liabilities and shareholders' equity
Current liabilities	$	31,343		$	220,996		$	0		$	0		$	252,339
Long-term debt		1,918,106			0			0			0			1,918,106
Deferred income taxes		0			0			0			0			0
Other liabilities		8,729			51,129			0			0			59,858
Payable to parent		(2,190,790	)		2,196,946			(6,156	)		0			0
Total shareholders' equity		1,272,834			232,926			301,220			(534,146	)		1,272,834
Total liabilities and shareholders' equity	$	1,040,222		$	2,701,997		$	295,064		$	(534,146	)	$	3,503,137

EXCO RESOURCES, INC.

CONDENSED CONSOLIDATING BALANCE SHEET

December 31, 2011

(in thousands)	Resources			Guarantor subsidiaries			Non-guarantor subsidiaries			Eliminations			Consolidated
Assets
Current assets:
Cash and cash equivalents	$	78,664		$	(46,667	)	$	0		$	0		$	31,997
Restricted cash		0			155,925			0			0			155,925
Other current assets		177,709			312,377			0			0			490,086
Total current assets		256,373			421,635			0			0			678,008
Equity investments		0			0			302,833			0			302,833
Oil and natural gas properties (full cost accounting method):
Unproved oil and natural gas properties and development costs not being amortized		15,942			651,400			0			0			667,342
Proved developed and undeveloped oil and natural gas properties		464,898			2,927,248			0			0			3,392,146
Accumulated depletion		(327,218	)		(1,329,947	)		0			0			(1,657,165	)
Oil and natural gas properties, net		153,622			2,248,701			0			0			2,402,323
Gas gathering, office and field equipment, net		27,815			121,668			0			0			149,483
Investments in and advances to affiliates		869,387			0			0			(869,387	)		0
Deferred financing costs, net		29,622			0			0			0			29,622
Derivative financial instruments		5,998			5,036			0			0			11,034
Goodwill		38,100			180,156			0			0			218,256
Other assets		3			25			0			0			28
Total assets	$	1,380,920		$	2,977,221		$	302,833		$	(869,387	)	$	3,791,587
Liabilities and shareholders' equity
Current liabilities	$	39,395		$	248,004		$	0		$	0		$	287,399
Long-term debt		1,887,828			0			0			0			1,887,828
Deferred income taxes		0			0			0			0			0
Other liabilities		7,740			50,288			0			0			58,028
Payable to parent		(2,112,375	)		2,118,531			(6,156	)		0			0
Total shareholders' equity		1,558,332			560,398			308,989			(869,387	)		1,558,332
Total liabilities and shareholders' equity	$	1,380,920		$	2,977,221		$	302,833		$	(869,387	)	$	3,791,587

Schedule Of Condensed Consolidating Statement Of Operations

EXCO RESOURCES, INC.

CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS

(Unaudited)

For the three months ended March 31, 2012

(in thousands)	Resources			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations		Consolidated
Revenues:
Oil and natural gas	$	23,273		$	111,575		$	0		$	0	$	134,848
Costs and expenses:
Oil and natural gas production		5,125			24,864			0			0		29,989
Gathering and transportation		0			26,423			0			0		26,423
Depreciation, depletion and amortization		(6,892	)		96,474			0			0		89,582
Write-down of oil and natural gas properties		0			275,864			0			0		275,864
Accretion of discount on asset retirement obligations		126			821			0			0		947
General and administrative		3,775			17,730			0			0		21,505
Other operating items		42			1,583			0			0		1,625
Total costs and expenses		2,176			443,759			0			0		445,935
Operating income (loss)		21,097			(332,184	)		0			0		(311,087	)
Other income (expense):
Interest expense		(16,764	)		0			0			0		(16,764	)
Gain on derivative financial instruments		49,223			4,642			0			0		53,865
Other income (expense)		36			207			0			0		243
Equity method income		0			0			(7,906	)		0		(7,906	)
Equity in earnings of subsidiaries		(335,241	)		0			0			335,241		0
Total other income (expense)		(302,746	)		4,849			(7,906	)		335,241		29,438
Income (loss) before income taxes		(281,649	)		(327,335	)		(7,906	)		335,241		(281,649	)
Income tax expense		0			0			0			0		0
Net income (loss)	$	(281,649	)	$	(327,335	)	$	(7,906	)	$	335,241	$	(281,649	)

EXCO RESOURCES, INC.

CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS

(Unaudited)

For the three months ended March 31, 2011

(in thousands)	Resources			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated
Revenues:
Oil and natural gas	$	23,386		$	137,842		$	0		$	0		$	161,228
Costs and expenses:
Oil and natural gas production		4,287			20,357			0			0			24,644
Gathering and transportation		0			17,286			0			0			17,286
Depreciation, depletion and amortization		6,566			60,993			371			0			67,930
Accretion of discount on asset retirement obligations		101			756			0			0			857
General and administrative		4,716			18,707			0			0			23,423
Other operating items		2,616			553			(712	)		0			2,457
Total costs and expenses		18,286			118,652			(341	)		0			136,597
Operating income		5,100			19,190			341			0			24,631
Other income (expense):
Interest expense		(13,564	)		(1,252	)		0			0			(14,816	)
Gain (loss) on derivative financial instruments		3,601			(180	)		0			0			3,421
Other income		84			76			0			0			160
Equity method income		0			0			8,545			0			8,545
Equity in earnings of subsidiaries		26,720			0			0			(26,720	)		0
Total other income (expense)		16,841			(1,356	)		8,545			(26,720	)		(2,690	)
Net income (loss)	$	21,941		$	17,834		$	8,886		$	(26,720	)	$	21,941

Schedule Of Condensed Consolidating Statement Of Cash Flows

EXCO RESOURCES, INC.

CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS

(Unaudited)

For the three months ended March 31, 2012

(in thousands)	Resources			Guarantor Subsidiaries			Non-Guarantor Subsidiaries		Eliminations		Consolidated
Operating Activities:
Net cash provided by operating activities	$	40,676		$	104,447		$	0	$	0	$	145,123
Investing Activities:
Property acquisitions and additions to oil and natural gas properties, gathering systems and equipment		(10,120	)		(161,038	)		0		0		(171,158	)
Equity investments		0			(137	)		0		0		(137	)
Proceeds from disposition of property and equipment		0			981			0		0		981
Restricted cash		0			(8,117	)		0		0		(8,117	)
Net changes in advances (to) from Appalachia JV		0			10,543			0		0		10,543
Advances/investments with affiliates		(78,910	)		78,910			0		0		0
Net cash used in investing activities		(89,030	)		(78,858	)		0		0		(167,888	)
Financing Activities:
Borrowings under credit agreements		53,000			0			0		0		53,000
Repayments under credit agreements		(23,000	)		0			0		0		(23,000	)
Proceeds from issuance of common stock		2			0			0		0		2
Payment of common stock dividends		(8,663	)		0			0		0		(8,663	)
Net cash provided by financing activities		21,339			0			0		0		21,339
Net increase (decrease) in cash		(27,015	)		25,589			0		0		(1,426	)
Cash at the beginning of the period		78,664			(46,667	)		0		0		31,997
Cash at end of period	$	51,649		$	(21,078	)	$	0	$	0	$	30,571

EXCO RESOURCES, INC.

CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS

(Unaudited)

For the three months ended March 31, 2011

(in thousands)	Resources			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations		Consolidated
Operating Activities:
Net cash provided by operating activities	$	18,448		$	59,468		$	1,157		$	0	$	79,073
Investing Activities:
Property acquisitions and additions to oil and natural gas properties, gathering systems and equipment		(17,463	)		(685,916	)		(3,064	)		0		(706,443	)
Restricted cash		0			11,125			0			0		11,125
Deposit on pending acquisitions		0			464,151			0			0		464,151
Equity investments		0			(162	)		0			0		(162	)
Return of investment in equity investments		0			125,000			0			0		125,000
Proceeds from disposition of property and equipment		39			259,064			0			0		259,103
Net changes in advances (to) from Appalachia JV		0			(5,063	)		0			0		(5,063	)
Other		0			(1,250	)		0			0		(1,250	)
Advances/investments with affiliates		233,700			(235,607	)		1,907			0		0
Net cash provided by (used in) investing activities		216,276			(68,658	)		(1,157	)		0		146,461
Financing Activities:
Borrowings under credit agreement		40,000			0			0			0		40,000
Repayments under credit agreement		(300,000	)		0			0			0		(300,000	)
Proceeds from issuance of common stock		7,312			0			0			0		7,312
Payment of common stock dividends		(8,547	)		0			0			0		(8,547	)
Net cash used in financing activities		(261,235	)		0			0			0		(261,235	)
Net decrease in cash		(26,511	)		(9,190	)		0			0		(35,701	)
Cash at the beginning of the period		76,763			(32,534	)		0			0		44,229
Cash at end of period	$	50,252		$	(41,724	)	$	0		$	0	$	8,528