EXCO Resources Inc (EXCE)

[Enterprising Investor]

EXCO Resources, Inc. Announces the Formation of Special Committee of Directors to Explore Strategic Alternatives (5/13/16)

DALLAS--(BUSINESS WIRE)--EXCO Resources, Inc. (NYSE: XCO) (“EXCO” or the “Company”) today announced that its Board of Directors has formed a Special Committee (the “Special Committee”) to, among other things, assess the Company’s operating and financial situation and to evaluate, develop and recommend one or more strategic alternatives.

The Special Committee will assist EXCO as it continues to execute its strategic plan that is focused on improving its capital structure and providing structural liquidity, and seeking to optimize EXCO’s asset portfolio. The Special Committee will evaluate various strategic and restructuring alternatives, including exchanges of existing indebtedness for common stock (including privately negotiated exchanges), the renegotiation or repurchase of existing indebtedness, the issuance of equity, divestitures of assets, the issuance of additional indebtedness, in court and/or out of court restructurings, and the restructuring of its gathering, transportation and certain other contracts.

No assurance can be given as to the outcome or timing of this process. The Company does not intend to make any future announcements concerning this process unless and until EXCO otherwise determines that disclosures are necessary or appropriate.

EXCO, at the direction of the Special Committee, has retained Akin Gump Strauss Hauer & Feld, LLP as its legal advisor and will retain a financial advisor(s) to assist in the exploration of strategic and financial alternatives.

About EXCO

EXCO Resources, Inc. is an oil and natural gas exploration, exploitation, development and production company headquartered in Dallas, Texas with principal operations in Texas, North Louisiana and the Appalachia region.

Additional information about EXCO Resources, Inc. may be obtained by contacting Chris Peracchi, EXCO’s Vice President of Finance and Investor Relations, and Treasurer, at EXCO’s headquarters, 12377 Merit Drive, Suite 1700, Dallas, TX 75251, telephone number [phone], or by visiting EXCO’s website at www.excoresources.com. EXCO’s SEC filings and press releases can be found under the Investor Relations tab.

http://www.businesswire.com/news/home/20160513005093/en/EXCO-Resources-Announces-Formation-Special-Committee-Directors