EXCO Resources, Inc. (NYSE:XCO) has released its fourth quarter earnings for fiscal 2009. The company reported net income for the three months ended December 31, 2009, at $241,469, compared to a net loss of $1,161,389 for the year ago period. The company’s cash flow from operations, GAAP, was reported as $83,748 for the fourth quarter. The year ago period had a cash flow of $162,949.
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The company held a conference call on February 24 to review the financial results. Those interested in hearing a replay of the call by do so by dialing 800.642.1687 and entering the conference ID# 54910096. All presentation materials, including the full financial report, and a webcast of the event is also available online at www.excoresources.com.
EXCO Resources, Inc. (EXCO) is an independent oil and natural gas company engaged in the acquisition, development and exploitation of onshore North American oil and natural gas properties. The Company’s operations are focused in key North American oil and natural gas areas, including East Texas/North Louisiana, Appalachia, Mid-Continent and Permian. As of December 31, 2008, EXCO’s proved reserves were approximately 1.9 trillion cubic feet equivalents (Tcfe), of which 93.6% were natural gas and 74.4% were proved developed reserves. During the year ended December 31, 2007, EXCO produced 144.6 billions of cubic feet equivalent (Bcfe) of oil and natural gas. On February 20, 2008, the Company acquired shallow natural gas properties from EOG Resources, Inc. On March 11, 2008, the Company acquired a 230 mile gathering system in East Texas/North Louisiana.
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