EXCO Resources (XCO) Tops Q1 EPS by 5c; Updates on Strategic Plan
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EXCO Resources, Inc. Reports First Quarter 2016 Results
May 3, 2016 4:07 PM EDTDALLAS--(BUSINESS WIRE)-- EXCO Resources, Inc. (NYSE: XCO) (EXCO or the "Company") today announced operating and financial results for the first quarter 2016.
2016 First Quarter Highlights Drilled 5 gross (4.6 net) and turned-to-sales 8 gross (3.6 net) operated horizontal wells in the first quarter 2016. Reduced costs by approximately 20% for wells turned-to-sales in 2016 compared to 2015. Produced 295 Mmcfe per day, or 27 Bcfe, for the first quarter 2016, in line with the mid-point of guidance. Production decreased 24 Mmcfe per day,... More