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EXCO Resources Inc (NYSE:XCO): Taking The Path Forward

Chief Accounting Officer Appointed

Boston, MA 03/31/2014 (wallstreetpr) – EXCO Resources Inc (NYSE:XCO) reported appointed its Chief Accounting Officer who turned out to be none other than Richard A. Burnett, who had previously served as the Special Projects Vice President since 2013. Sources say that the Board of Directors were involved in the decision making. For the time being, when Burnett had not been appointed, Mr. Mulhern was serving as the Chief Accounting Officer, sources say.

Jeff Benjamin, the Chairman of EXCO was surely elated with this turn of events. He appeared to be pleased by the decision of the Board of appointing Burnett because according to him Mr. Burnett’s industry and public accounting expertise could prove very beneficial for the company.

Declaration of Quarterly Cash Dividend

The Board of Directors of EXCO Resources Inc (NYSE:XCO) reported announced the distribution of a first quarter cash dividend worth $0.05 on each share.  This dividend is due to be payable on March 31, 2014. Sources say that any further announcement of distribution of dividends would depend on the decisions and approval by the Board of Directors of EXCO.

Hosting a Conference Call

Sources say that EXCO recently hosted a conference call on February 26, 2014 so as to discuss about the Schedules earnings Release and answers people’s queries regarding the same. The call was also webcasted on the official website of EXCO. Also later all the materials related to the presentation of this release were posted on the website. Also a digital recording of the conference call was made available after two hours of the commencement of the conference call on the website of EXCO.

Closing of Rights Offering

It was only last year in December when EXCO Resources Inc (NYSE:XCO) had made the announcement of the commencement of $273 million Rights Offering and other transactions related to it under the Investment Agreements with certain shareholders. Around 28.2 million shares were issued in the rights offering.

Published by Benjamin Roussey

Benjamin Roussey is from Sacramento, California. He has two master’s degrees and served four years in the U.S. Navy. His bachelor’s degree is from CSUS (1999) where he was on a baseball pitching scholarship. His second master’s degree is an MBA in Global Management from the University of Phoenix (2006). He has worked for small businesses, public agencies, and large corporations. He has lived in Korea and Saudi Arabia where he was an ESL instructor. Benjamin spends his time in between Northern California and Cabo San Lucas, Mexico, committing himself to his craft of freelance and website writing.

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