EXCO Resources, Inc. Reports Unaudited Consolidated Earnings and Production Results for the Fourth Quarter and Year Ended December 31, 2016; Provides Production and Capital Expenditure Guidance for the First Quarter of 2017
For the year, total revenues were $271,001,000 against $355,700,000 a year ago. Operating loss was $220,949,000 against $1,339,875,000 a year ago. Loss before income taxes was $222,456,000 against $1,192,381,000 a year ago. Net loss was $225,258,000 against $1,192,381,000 a year ago. Loss per basic and diluted common share was $0.81 against $4.36 a year ago. Net cash used in operating activities was $414,000 against cash provided by operating activities of $134,027,000 a year ago. Additions to oil and natural gas properties, gathering assets and equipment were $79,393,000 against $317,590,000 a year ago. Property acquisitions were $1,032,000 against $7,608,000 a year ago. LBITDA was $76,036,000 against $870,873,000 a year ago. Adjusted EBITDA was $95,662,000 against $233,207,000 a year ago. Adjusted cash flow from operations was $35,319,000 against $144,087,000 a year ago. Adjusted net loss was $40,692,000 against $53,805,000 a year ago.
For the quarter, total production was 24.2 Bcfe against 29.3 Bcfe a year ago. Total daily production was 263 Mmcfe/d against 319 Mmcfe/d a year ago.
For the year, total production was 104.4 Bcfe against 124.0 Bcfe a year ago. Total daily production was 285 Mmcfe/d against 340 Mmcfe/d a year ago.
For the first quarter of 2017, the company expects total production of 21.2 Bcfe - 22.1 Bcfe, total daily production of 235 Mmcfe/d -245 Mmcfe/d and capital expenditures of $26 million.