DALLAS--(BUSINESS WIRE)--EXCO Resources, Inc. (NYSE:XCO) (“EXCO”) today announced that it has filed a post-effective amendment to its existing automatic shelf registration statement, filed with the Securities and Exchange Commission (the “SEC”) on January 30, 2014 (the “Original Registration Statement”), related to the resale of shares of EXCO’s common stock held by certain selling shareholders (the “Selling Shareholders”). EXCO filed the Original Registration Statement for the resale of shares held by the Selling Shareholders who either acquired their shares in a private transaction and/or are considered affiliates of EXCO.
The Original Registration Statement was filed as an automatic shelf registration statement. Due to the recent decline in the trading price of EXCO’s common stock, EXCO did not meet the requirements to maintain an automatic shelf registration statement at the time EXCO filed its Annual Report on Form 10-K for the year ended December 31, 2014 (the “2014 Form 10-K”). Accordingly, EXCO filed a post-effective amendment to the Original Registration Statement to convert the Original Registration Statement to a non-automatic shelf registration statement (the “Amended Registration Statement”) which, when declared effective by the SEC, will permit the Selling Shareholders to resell shares pursuant to the Amended Registration Statement. EXCO filed the Amended Registration Statement to comply with the terms of a registration rights agreement between EXCO and the Selling Shareholders. The SEC has not yet declared the Amended Registration Statement effective.
To EXCO’s knowledge, the Selling Shareholders have not expressed an intent to sell any of the Shares in the immediate future. EXCO has not and will not receive any proceeds from the sale of Shares under the Amended Registration Statement.
EXCO Resources, Inc. is an oil and natural gas exploration, exploitation, development and production company headquartered in Dallas, Texas with principal operations in Texas, North Louisiana and Appalachia.
Additional information about EXCO Resources, Inc. may be obtained by contacting Chris Peracchi, EXCO’s Vice President of Finance and Investor Relations, and Treasurer, at EXCO’s headquarters, 12377 Merit Drive, Suite 1700, Dallas, TX 75251, telephone number (214) 368-2084, or by visiting EXCO’s website at www.excoresources.com. EXCO’s SEC filings and press releases can be found under the Investor Relations tab.
This release may contain forward-looking statements relating to future financial results, business expectations and business transactions. Actual results may differ materially from those predicted as a result of factors over which EXCO has no control. Such factors include, but are not limited to: the Amended Registration Statement effectiveness, the estimates of reserves, commodity price changes, regulatory changes and general economic conditions. These risk factors are included in EXCO’s reports on file with the Securities and Exchange Commission. Except as required by applicable law, EXCO undertakes no obligation to publicly update or revise any forward-looking statements.