The energy explorer has hired advisers and is considering a Chapter 11 bankruptcy, the Dallas-based company said while reporting its third-quarter earnings Tuesday. Unless it can amend debt terms or get a waiver from lenders, Exco said it won’t be able to make its next interest payment on debt due in December. It reported a net loss of $19 million for the quarter.
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Exco was so good to deal with. Hate to hear this for the company and for the people who work there. When their Eagleford Asset sale fell through, the writing was on the wall. I wonder if they will sell any of the Haynesville Assets? They have great leases in core areas