EXCO Resources Announces Revenues, Earnings and Production

EXCO Resources, Inc. today announced financial and operating results for the quarter ended September 30, 2006. For the quarter, EXCO reported net income of $71.7 million on oil and natural gas revenues of $84.9 million.

For the quarter ended September 30, 2005, EXCO had a net loss of $49.7 million on oil and natural gas revenues of $51.8 million.

The third quarter 2006 results include $91.0 million of non-cash pre-tax mark to market income resulting from changes in the fair value of derivative financial instruments. The third quarter 2005 results include $101.3 million of non-cash pre-tax mark to market expense resulting from changes in the fair value of our derivative financial instruments.

Adjusted EBITDA for the quarter ended September 30, 2006 was $70.9 million. For the quarter ended September 30, 2005, Adjusted EBITDA was $37.0 million. EBITDA and Adjusted EBITDA are financial measures that are calculated on a basis other than in accordance with GAAP. For a detailed summary and reconciliation of each of these non-GAAP measures to its most comparable GAAP measure, please refer to the schedule entitled “Condensed consolidated EBITDA and adjusted EBITDA reconciliations and statements of cash flow data” included at the end of this press release.

Production for the quarter ended September 30, 2006, was approximately 241 Mbbls of oil and 10.5 Bcf of natural gas, or 11.9 Bcfe, as compared to production for the quarter ended September 30, 2005 of approximately 122 Mbbls of oil and 5.1 Bcf of natural gas, or 5.8 Bcfe.

The average oil price per Bbl, before cash settlements of derivative financial instruments, received during the quarter ended September 30, 2006, was $68.20 versus $59.68 for the quarter ended September 30, 2005, a $8.52 per Bbl or 14% increase. The average natural gas price per Mcf, before cash settlements of derivative financial instruments, received during the current quarter was $6.54 versus $8.70 for the quarter ended September 30, 2005, a $2.16 per Mcf or 25% decrease.



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