Replies to This Discussion

Permalink Reply by kittycatmama on March 18, 2016 at 2:54

I know but Chesapeake was in bad shape too and were still drilling just to generate cash. It seems Exco has completely shut down. Have you heard of any buy outs for them? They have some great leases in core areas

• ▶ Reply

Permalink Reply by kittycatmama on March 18, 2016 at 4:14

I think a lot of the companies are doing that. I just hope Exco can hang on. They were great to deal with--courteous and professional.

• ▶ Reply

Permalink Reply by Bill R on March 18, 2016 at 7:15

I agree... one of the better O&G companies to deal with

• ▶ Reply

Permalink Reply by Checkmateking on March 18, 2016 at 4:32

CHK will be like EXCO and Linn soon enough, highly leveraged companies rarely survive downturns in any industry. They all gambled and the dice didn;t roll their way. Nature of the beast. 

• ▶ Reply

Permalink Reply by Bill R on March 18, 2016 at 7:15

We were receiving regular Royalty checks like clockwork for the past five years or so... suddenly they have stopped, last payment was December 2015... I have a Email in to them, but have not heard back as of yet. Hoping it is not a sign of just how bad a position that EXCO is in. But then again Cabot has dried up and gone dark as well. Anyone run into this as well?

• ▶ Reply

Permalink Reply by kittycatmama on March 18, 2016 at 12:28

We have not had a check from Exco in a couple of months but only have one well on 4.86 ac. and its production is low plus low gas prices so I figured payment didn't reach $100 yet. Usually they don't pay unless account reaches at least $100. I have a friend on phone and he is getting his Exco cks fine

• ▶ Reply

Permalink Reply by jffree1 on March 19, 2016 at 3:47

They still had two rigs drilling in DeSoto Parish last week. Don't ask me why.

• ▶ Reply

Permalink Reply by Skip Peel - Mineral Consultant on March 20, 2016 at 10:02

As Julie mentions EXCO has two rigs currently drilling in DeSoto Parish.  Those are the only two  EXCO rigs reporting in the area covered by my weekly rig reports,  CHK has 3 NW LA rigs - 1 Caddo, 2 DeSoto.  Additionally they are 4 rigs reporting for CHK in W TX.

• ▶ Reply

Permalink Reply by 30 yr-landman on April 6, 2016 at 9:31

Much of the Oil & gas Industry is broke right now due to low product prices versus high service costs (although service costs have been on a strict decline in past 9 months).  Suggest you go to website of the BEG (UT - Bureau of Economic Geology) for an excellent paper written in December, 2015.  Website is http://www.beg.utexas.edu/shale/index.php

Lots of economics and forecasts but again its all based upon the same....future product prices versus service costs.  God Bless America (and God Please Forbid Even The Mention Of Us Having Hillary Clinton as our next President and "Liar-In-Chief").

EXCO are good folks but can't do anything about the huge decline in the industry's product prices.

• ▶ Reply

Permalink Reply by Skip Peel - Mineral Consultant on April 6, 2016 at 9:44

A common thread shared by the troubled E&P companies we follow and discuss is their debt load.  Depressed commodity prices have negatively impacted all operating companies, service and material suppliers however those that managed their debt still have reasonably good balance sheets.  Those that borrowed too much especially for less than quality rock are now paying the price.

• ▶ Reply