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Bracewell Represented Bluescape Resources Company LLC in Investment in EXCO Resources, Inc.

HOUSTON Bracewell LLP represented Bluescape Resources Company LLC in connection with an investment by Energy Strategic Advisory Services LLC (ESAS), a subsidiary of Bluescape, in EXCO Resources, Inc. The transaction closed on September 8, 2015.

C. John Wilder, Executive Chairman of Bluescape, joined EXCO’s Board of Directors and was appointed EXCO’s Executive Chairman. Wilder and ESAS will continue to lead EXCO’s transformational strategy that focuses on six core areas: 1) liability management, 2) operational performance, 3) capital deployment, 4) risk management, 5) portfolio repositioning, and 6) performance management.

ESAS purchased from EXCO 5,882,353 shares of EXCO’s common stock for a purchase price of $10 million and has agreed to purchase at least $13.5 million of additional shares of EXCO’s common stock through open market purchases pursuant to a Rule 10b5-1 plan. In addition, EXCO issued ESAS warrants to purchase up to 80,000,000 shares of EXCO’s common stock, which warrants are subject to return hurdle exercisability criteria.

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Bracewell attorneys working on the case include:

Partners: G. Alan Rafte, William S. Anderson, Elizabeth L. McGinley and Daniel E. Hemli

Senior Counsel: Jacqueline R. Java

Associates: Benjamin J. Martin and Kate D. Barrington