• EXCO Resources approved a 2014 capex of $368 million, up 5% YOY, with half of spending supporting development in Exco's East Texas/North Louisiana holdings. South Texas spend will account for another 38% of total spend. Capex excludes the EXCO/HGI Partnership and Permian joint development, and will likely result in a 15% production decline YOY but increase exposure to crude. Spending will be funded through operating cash and borrowings as needed. From 2015 forward,......
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