EXCO Resources 1Q16: Marcellus Production Up w/o New Drilling?

EXCO.jpgEXCO Resources, once a sizable player in the Marcellus–with 145,000 net acres in the Marcellus and having drilled and operating 124 horizontal Marcellus wells–has pretty much abandoned the Marcellus at this point (see EXCO Reaffirms No New Marcellus Drilling in 2016, Capex Cut 69%). Yesterday EXCO issued its first quarter 2016 update. The update shows the company continues to ignore the Marcellus and instead concentrate on other areas. They drilled 5 wells in Louisiana during 1Q16. EXCO did increase production in the Marcellus from 4Q15 (although down from 1Q15, year over year). The reason for more production although they didn’t drill or complete any new wells? They had been shutting in production due to low prices. The prices went up a bit, and EXCO eased off a bit on the shut-in wells, resulting in a slight bump in production. Here are select portions of yesterday’s EXCO update…

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