0000316300-17-000019.txt : 20170612
0000316300-17-000019.hdr.sgml : 20170612
20170612173325
ACCESSION NUMBER: 0000316300-17-000019
CONFORMED SUBMISSION TYPE: 3
PUBLIC DOCUMENT COUNT: 1
CONFORMED PERIOD OF REPORT: 20170531
FILED AS OF DATE: 20170612
DATE AS OF CHANGE: 20170612
ISSUER:
COMPANY DATA:
COMPANY CONFORMED NAME: EXCO RESOURCES INC
CENTRAL INDEX KEY: 0000316300
STANDARD INDUSTRIAL CLASSIFICATION: CRUDE PETROLEUM & NATURAL GAS [1311]
IRS NUMBER: 741492779
STATE OF INCORPORATION: TX
FISCAL YEAR END: 1231
BUSINESS ADDRESS:
STREET 1: 12377 MERIT DR
STREET 2: SUITE 1700
CITY: DALLAS
STATE: TX
ZIP: 75251
BUSINESS PHONE: 2143682084
MAIL ADDRESS:
STREET 1: 12377 MERIT DR
STREET 2: SUITE 1700
CITY: DALLAS
STATE: TX
ZIP: 75251
REPORTING-OWNER:
OWNER DATA:
COMPANY CONFORMED NAME: ENERGY STRATEGIC ADVISORY SERVICES LLC
CENTRAL INDEX KEY: 0001638821
STATE OF INCORPORATION: DE
FISCAL YEAR END: 1231
FILING VALUES:
FORM TYPE: 3
SEC ACT: 1934 Act
SEC FILE NUMBER: 001-32743
FILM NUMBER: 17907486
BUSINESS ADDRESS:
STREET 1: 200 CRESCENT CT. STE 200
STREET 2: ATTN: EMILY FUQUAY
CITY: DALLAS
STATE: TX
ZIP: 75201
BUSINESS PHONE: 4693982220
MAIL ADDRESS:
STREET 1: 200 CRESCENT CT. STE 200
STREET 2: ATTN: EMILY FUQUAY
CITY: DALLAS
STATE: TX
ZIP: 75201
REPORTING-OWNER:
OWNER DATA:
COMPANY CONFORMED NAME: Bluescape Resources GP Holdings LLC
CENTRAL INDEX KEY: 0001694685
STATE OF INCORPORATION: DE
FISCAL YEAR END: 1231
FILING VALUES:
FORM TYPE: 3
SEC ACT: 1934 Act
SEC FILE NUMBER: 001-32743
FILM NUMBER: 17907487
BUSINESS ADDRESS:
STREET 1: 200 CRESCENT COURT
STREET 2: STE. 1900
CITY: DALLAS
STATE: TX
ZIP: 75201
BUSINESS PHONE: (214) 855-2260
MAIL ADDRESS:
STREET 1: 200 CRESCENT COURT
STREET 2: STE. 1900
CITY: DALLAS
STATE: TX
ZIP: 75201
REPORTING-OWNER:
OWNER DATA:
COMPANY CONFORMED NAME: Bluescape Energy Recapitalization & Restructuring Fund III LP
CENTRAL INDEX KEY: 0001675662
STATE OF INCORPORATION: DE
FISCAL YEAR END: 1231
FILING VALUES:
FORM TYPE: 3
SEC ACT: 1934 Act
SEC FILE NUMBER: 001-32743
FILM NUMBER: 17907488
BUSINESS ADDRESS:
STREET 1: 200 CRESCENT COURT, STE. 1900
CITY: DALLAS
STATE: TX
ZIP: 75201
BUSINESS PHONE: (214) 855-2260
MAIL ADDRESS:
STREET 1: 200 CRESCENT COURT, STE. 1900
CITY: DALLAS
STATE: TX
ZIP: 75201
3
1
edgar.xml
PRIMARY DOCUMENT
X0206
3
2017-05-31
0
0000316300
EXCO RESOURCES INC
XCO
0001638821
ENERGY STRATEGIC ADVISORY SERVICES LLC
200 CRESCENT CT., STE. 1900
DALLAS
TX
75201
0
0
1
0
0001675662
Bluescape Energy Recapitalization & Restructuring Fund III LP
200 CRESCENT CT., STE. 1900
DALLAS
TX
75201
0
0
1
0
0001694685
Bluescape Resources GP Holdings LLC
200 CRESCENT CT., STE. 1900
DALLAS
TX
75201
0
0
1
0
Common Stock
18346483
D
Warrant to purchase shares of Common Stock
2.75
2019-03-31
2019-04-30
Common Stock
15000000
D
Warrant to purchase shares of Common Stock
4.00
2019-03-31
2020-03-31
Common Stock
20000000
D
Warrant to purchase shares of Common Stock
7.00
2019-03-31
2021-03-31
Common Stock
20000000
D
Warrant to purchase shares of Common Stock
10.00
2019-03-31
2021-03-31
Common Stock
25000000
D
Warrant to purchase shares of Common Stock
.93
2017-05-31
2022-05-31
Common Stock
75268818
D
The shares and warrants to purchase shares reported herein are owned directly by ESAS, and Bluescape Energy Recapitalization and Restructuring Fund III LP ("Main Fund"), Bluescape Energy Partners III GP LLC ("Bluescape GP") and Bluescape Resources GP Holdings LLC ("Bluescape GP LLC") are indirect beneficial owners of the reported securities. Main Fund acts as the managing member of ESAS and has the power to direct the affairs of ESAS. Bluescape GP acts as the general partner of Main Fund and has the power to direct the affairs of Main Fund. Bluescape GP LLC acts as the manager of Bluescape GP and has the power to direct the affairs of Bluescape GP.
The Main Fund, Bluescape GP and Bluescape GP LLC each state that neither the filing of this statement nor anything herein shall be deemed an admission that it is, for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or otherwise, the beneficial owner of these securities. Each of Main Fund, Bluescape GP and Bluescape GP LLC disclaims beneficial ownership of these securities, except to the extent of their pecuniary interest in such securities.
The warrants to purchase shares of common stock of EXCO Resources, Inc. ("EXCO") described in Table II and to which this footnote apply (the "Service Warrants") were issued to ESAS on March 31, 2015, pursuant to the Services and Investment Agreement, dated March 31, 2015, by and among EXCO and ESAS, as amended (the "Services Agreement"), as consideration for the services to be provided by ESAS to EXCO pursuant to the Services Agreement. Unless the Services Agreement is terminated, no portion of the Service Warrants will become exercisable prior to the 4th anniversary of the Services Agreement, and then, only in accordance with the vesting schedule for exercisability discussed in footnote (5).
Prior to March 31, 2019, (a) if EXCO terminates the Services Agreement for any reason other than an ESAS Forfeiture Event (as described in EXCO's Current Report on Form 8-K, filed April 2, 2015, and defined in the Services Agreement filed as an Exhibit thereto), or ESAS terminates the Services Agreement for an EXCO Forfeiture Event (as described in EXCO's Current Report on Form 8-K, filed April 2, 2015, and defined in the Services Agreement filed as an Exhibit thereto), then 100% of the Service Warrants will fully vest and become exercisable and (b) if ESAS terminates the Services Agreement for any reason other than an EXCO Forfeiture Event, or EXCO terminates the Services Agreement for an ESAS Forfeiture Event, then one hundred percent (100%) of the Service Warrants will be cancelled and forfeited.
Unless accelerated or forfeited in connection with the termination of the Services Agreement, the exercisability of the Service Warrants is subject to the price of EXCO's common stock achieving certain performance hurdles as compared to a designated peer group. If the Services Agreement is not terminated before March 31, 2019, and EXCO's performance rank is in the bottom half of the designated peer group, then each Service Warrant shall be forfeited and void. The number of exercisable shares under each Service Warrant increases linearly from 40% of the shares of EXCO's common stock underlying such Service Warrant to 100% of the shares underlying such Service Warrant as EXCO's performance rank increase from the 50th to the 75th percentile, as compared to the designated peer group. If EXCO's performance rank is in the 75th percentile or above, then each Service Warrant will be exercisable for 100% of the shares underlying such Service Warrant.
The warrants to purchase shares of common stock of EXCO described in Table II and to which this footnote applies (the "Financing Warrants") were issued to ESAS on March 15, 2017 in connection with ESAS' purchase from EXCO of $70,000,000 principal amount of EXCO's 8.0%/11.0% 1.5 Senior Secured PIK Toggle Notes due 2022 pursuant to that certain Purchase Agreement dated March 15, 2017 by and among EXCO, the subsidiary guarantors named therein and certain purchasers named therein. The Financing Warrants were issued subject to approval by EXCO's shareholders. Shareholder approval of the issuance of the Financing Warrants was received May 31, 2017.
/s/ Jonathan Siegler, Managing Director and Chief Financial Officer of Energy Strategic Advisory Services LLC
2017-06-12
/s/ Jonathan Siegler, Managing Director and Chief Financial Officer of Bluescape Energy Recapitalization and Restructuring Fund III LP
2017-06-12
/s/ Charles John Wilder, Jr., Sole Manager of Bluescape Resources GP Holdings LLC
2017-06-12