First Motion for Exclusivity Period Extension Filed by EXCO Resources, Inc.
April 13, 2018 at 09:30 am IST
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EXCO Resources, Inc. filed first motion in the US Bankruptcy Court seeking the extension of its exclusivity periods on April 13, 2018. As per the motion, the debtor seeks to extend its exclusivity periods for both, to file a plan and to solicit votes on a plan, by 90 days i.e. up to August 13, 2018, and October 12, 2018, respectively. The debtor’s current exclusivity period and solicitation period would expire on May 15, 2018, and July 14, 2018, respectively.
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.