Amended Joint Reorganization Plan and Disclosure Statement Filed by EXCO Resources, Inc.
October 29, 2018 at 12:00 am EDT
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EXCO Resources, Inc., filed an amended joint plan of reorganization with related disclosure statement in the US Bankruptcy Court on October 29, 2018. As per the amended plan filed, Other Secured Claims in the amount of $7 million shall receive, at the option of the applicable Debtor either, payment in full in Cash or delivery of collateral securing any such Claim and payment of any interest required under section 506(b) of the Bankruptcy Code or Reinstatement of such Claim. Other Priority Claims in the amount of $15.9 million shall receive, at the option of the applicable Debtor either, payment in full in Cash or other treatment rendering such Claim Unimpaired or otherwise permitted by the Bankruptcy Code. Holders of Allowed 1.5 Lien Notes Claims in the amount of $324.1 million will receive either the Pro Rata share of 1.5 Lien Take-Back Debt or payment in full in Cash. Holders of Allowed 1.75 Lien Term Loan Facility Claims in the amount of $742.2 million shall recover 48% of its allowed amount on pro rata share of 82% of the New Common Stock. Holders of Allowed Unsecured Notes Claims in the amount of $206.5 million will receive 42% of its allowed amount and Allowed GUC Claims in the range of $15.9 million to $63.8 million (other than Convenience Claims) will receive 42% of its allowed amount, collectively, the Unsecured Settlement Recovery, which shall be, 18% of the New Common Stock and $15.35 in Cash. Raider Marketing Claims in the amount of $448.2 million shall receive 0% recovery and deemed canceled, discharged, released, and extinguished, and there shall be no distribution to Holders of Raider Marketing Claims on account of such Claims. Intercompany claim $7,793.5 million shall receive full amount and at the option of the debtors or reorganized debtors either reinstated or canceled and shall receive no distribution on account of such claims. There is no other change in the treatment of claims.
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.
EXCO RESOURCES, INC. 
