Sixth Joint Amended Reorganization Plan Filed by EXCO Resources, Inc.
April 10, 2019 at 09:30 am IST
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EXCO Resources, Inc., along with its affiliates, filed sixth amended joint plan of reorganization in the US Bankruptcy Court on April 10, 2019. As per the amended plan filed, Other Secured Claims of $7 million, Other Priority Claims will be zero, 1.5 Lien Notes Claims of $233.49 million and 1.75 Lien Term Loan Facility Claims of $742.2 million shall recover in full and final satisfaction, settlement on pro rata basis. Intercompany Claim of $9,264 million either: (i) Reinstated; or (ii) canceled and shall receive no distribution on account of such Claims and GUC Claims of $160 million shall recover in full and final satisfaction, settlement on pro rata basis. There is no change in the treatment of any other claim class. EXCO Resources, Inc., along with its affiliates, filed revised sixth amended joint plan of reorganization with related disclosure statement in the US Bankruptcy Court on April 17, 2019. As per the amended plan filed, other secured claims of $7.1 million, other priority claims of $0.1 million and 1.5 lien notes claims of $317 million will be paid in full in cash. 1.75 Lien Term Loan Facility Claim of $742.2 million will be recovered 27% and second lien term loan facility claims of $18.4 million will be recovered 23%, both in the form of equity. Unsecured notes claims of $206.5 million will be recovered 23% and GUC Claims of $117.3 million, both in the form of cash. There is no change in the treatment of any other claim class. EXCO Resources, Inc., along with its affiliates, filed second revised sixth amended joint plan of reorganization with related disclosure statement in the US Bankruptcy Court on May 2, 2019. As per the revised amended plan filed, there is no change in the treatment of any claim class. EXCO Resources, Inc., along with its affiliates, filed third revised disclosure statement in the US Bankruptcy Court on May 3, 2019. As per the revised amended disclosure statement filed, there is no change in the treatment of any claim class. EXCO Resources, Inc., along with its affiliates, filed third revised sixth amended joint plan of reorganization with related disclosure statement in the US Bankruptcy Court on June 3, 2019. As per the revised amended plan filed, there is no change in the treatment of any claim class. EXCO Resources, Inc., along with its affiliates, filed fourth revised revised sixth amended joint plan of reorganization with related disclosure statement in the US Bankruptcy Court on June 12, 2019. As per the revised amended plan filed, there is no change in the treatment of any claim class. EXCO Resources, Inc., along with its affiliates, filed fourth revised sixth amended joint plan of reorganization with related disclosure statement in the US Bankruptcy Court on June 12, 2019. As per the revised amended plan filed, there is no change in the treatment of any claim class.
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.