EXCO Resources, Inc., along with its 14 affiliates, filed a voluntary petition for reorganization under Chapter 11 in the US Bankruptcy Court for the Southern District of Texas on January 15, 2018. The debtor listed its assets in the range of $500 million to $1 billion and liabilities in the range of $1 billion to $10 billion. The debtor is represented by Marcus Alan Helt of Gardere Wynne Sewell LL and Kirkland & Ellis LLP as its legal counsels. PJT Partners, LP acted as financial advisor and investment banker for the debtor. Alvarez & Marsal North America, LLC has been hired as restructuring advisor for the debtor and Epiq Bankruptcy Solutions, LLC has been hired as notice, claims, and balloting agent and as administrative advisor.
EXCO Resources, Inc. is an independent oil and natural gas company. The Company is engaged in the exploration, exploitation, acquisition, development and production of onshore United States oil and natural gas properties with a focus on shale resource plays. Its principal operations are conducted in certain United States oil and natural gas areas, including Texas, Louisiana, and the Appalachia region. Its producing regions include East Texas and North Louisiana, South Texas, and Appalachia. The East Texas and North Louisiana regions are primarily comprised of its Haynesville and Bossier shale assets. It serves as the operator for most of its properties in the East Texas and North Louisiana regions. The South Texas region is primarily comprised of its Eagle Ford shale assets. Its position in this region includes approximately 48,500 net acres. It serves as the operator for most of its properties in the South Texas region. The Appalachia region is comprised of its Marcellus shale assets.