Exhibit 99.2 Project Pelican CLEANSING MATERIALS DRAFT January 2018 PJT Partners KIRKLAND & ELLIS LLP A ALVAREZ & MARSALDisclaimer “Tis document continshgny conden nfrmatin andi soll for informational purposes. You shoul nat rely upon or ue itt form te ‘definitive basis for any decision or ackon whatsoever, with respec to any proposed transaction or ohorwise. You and your afl and agers ‘must hold ths cocament and any aalnlrmstion provide in connection wth this document, as wel as any information derived by you tom the Infomaton contained heen, inset confidence and may ret communicate, repreduce or disclose ito any eter persen or refer ubicly. ‘whole or in pata any time except wih our por wren consent. you are rot he intended recent of ts document lease delete ac cesioy all opis immediatly “This document is ass" and is based, in pat.on information obtained from oer sources. 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Asset Overview Confidential DRAFTAsset Overview Fo en een aes tential to develop contingent acreage for which financial resources were unable to be all the strained market environment. |Gas-levered portfolio with significant, high quality drilling inventory > 250+ gross locations with IRRs of >25% at spot prices as of 9129/17 > 92% HBP as of December 31, 2016 > Sitig program expected in 40 2017 > Large position in the most active development region in East Texas ("TX") / North Louisiana (NLA’) > South Texas Tier 1 oil wells have highest PV with IRRs of 65% at $3.00/MIMBtu and $50/bbI Qienrancea drilling and completion techniques have successfully increased EXCO's (and competitors’) well productivity > Longer laterals delivering nesly 150% more volume in ~278 days online in NLA > Larger completions and higher fracture intensity delivering 45% more volume in ~600 days online in ETX > Competitors have recently been successful in pursuing recompletion programs in existing horizontal wells by installing liner system and refracture stimulating (QEP, CHK) > EXCO drilled 2% fastest well in Haynesville to-date at 22 days Upside in both NLA and Appalachia > Unlock Bossier shale value in NLA with enhanced completion designs > Utica potential in Central PA is emerging and EXCO is positioned to begin appraisal testing DRAFTAsset Overview (Cont'd) OPERATING AREA OVERVIEW MAP OF PRIMARY ASSETS: NevAcreshsHBPO 2°17 Opeaig ips 4 ‘aa tr Net Procol) m |e 12/81/16 Proved Reserves (Bcfe) 4,410 ~ Dito vee S28 poe aon a ™ 9g Nea 99000% oa . (2°17 Operating Ros ; fa Fae » (aaNet recon (Bt) a0 ss 1254/6 Proved Reseves (66) 138 Dil very 7 es tons LT ST PTOPUCTION (niucren) neta OR me me, 02°17 opera igs < e as (a0: Net Proc Ml) aS 129116 Proved Reveves 6c) Be Dt rein agen a an | a ae os ana a 22°17 Operating os Hl Prien ‘abstr het rocco al) ze 12116 Proved Reseves ce) 1 sts Daeg 8 ss sions DRAFTDrilling Inventory Gedy! id forecast, not necessarily representative of Company's current business plan and financial forecast oaonca drilling program, eae en SK RR 008 Total Locations ' se se oe 262 Locations 66 Locations ss {Seat coe Sie onss150" | ae em i pe a! a ee ee ee DRAFTNorth Louisiana ‘TolalAcreagel) + 50,800 net acres (38,000stale) + 100%HEP ‘Active Weis + 424 operated wells lowing toales Production + a22017: 131 metals Targeted + Haynesville Formations + Bossier G2"I7Resuits + Produced 131 Mmcfeld, a decrease ‘of 3 Meld, or 2%, from Qt 2017 ‘+ 31g dling program forthe remainder 02017 + Tumed-tosales 3 goss (27 net) ‘operated Haynesville shale wells and 4 gross (0.8 net) eross-unit Bossier hale well in 2077 + 2017 HSVL wells completed with 2500 ‘sift are outperforming HSVL offset wells, which were completed wth 2700 ‘st Current EUR expectation is ‘greater than 2.2 Bct/1000° + 2017 BSSR well completed with 3500 Tpsts outpertorming older BSR veel ‘completed with 2350 Ibs/ft based on 6 ‘months of reduction history 1511539140 om fa tse {9} G2 «3 Ge OF G2 ca Gx OF G2 48 a4 GI G2 AF OF a: G2 DRAFTEast Texas Pose rotons Total Acreage! + ‘Active Wels : Production F Targeted 7 Formations : co47Resuts 45 S00 netacres 78% HBP 104 operated wells owing fo sales (€2 2017: 46 Nimcterd Haynesville Bossier Produced 46 Mmcfeld, a decrease (of7 Meteo 19%, trom Qt 2017 ‘Highest EURI1000"in EXCO's Haynesvile Highlander booked at 26 Bet1000" EXCO participated in the Walker J 1H, ‘which tumed to sales in January and ‘performing lke EXCO-operated wells died in Highlander, These wells all had ‘greater than 2500 lbavt proppant ‘concentrations and are much betier than the legacy wells inthe ares Participating in 2 stacked welts in the Highlander area testing BSSR and HSVL. Wells to tur to sales in October November 2017 airy Tu ire ahs | Me sm Py : os eae 5 NET PRODUCTION (MMCFE /D) (01 G2 03 OF OF G2 Ca OF OF a2 GS OH I G2 G8 GF OF a? DRAFTSouth Texas TotalAcreage") + 49,300 net acres + 93% HBP (100% Core) ‘Active Wells + 25 cperted Wels Production + 022017: 3:7 MBoetd Targeted + Eagle Fors Formations + Buda + Austin chalk @2"17 Results + Produced 47 Mboaid, a ‘decrease of 0.3 Mboeld, oF 8%, fom Q1 2017, + Signifcantheld-by-producton ‘Seraage provides development foxy + Offset operate racing numerous walls in the Bolfalver area ‘causing shut-ins and increased ‘water production + Larger completion designs have greatly improved well recoveries ‘and performance last wells dled are best in EXCO portfolio SOUTH TEXAS OVERVIEW mexcoActeve NET PRODUCTION (BOE / D) 8000 7.100 6500 ad? agg 7000 620095,500 6.100 ea: 5,000 5.000 4.000 3.000 2,000 4000 0 (5 04 @1 G2 QS a4 a! a2 a8 a4 at A203 OF at a2 13-19 14-14 14 14 15 15 15 15 16 16 16 16 17 7 DRAFTAppalachia ‘Targeted Formations e217 Results APPALACHIA OVERVIEW 484,100 net acres (127,000 stale) 90% HBP (shalo) 7 126 oputedwels oo Pa a (02 2017: 23 Mmcteld Ohi Marcellus Upper Devonian ‘aie Utica Produced 29 Mmcte/d, a decrease of 1 Mmcfeld, or 3% Gao wane Dateien pcdstonpinaty es ppopucTiON (HNCFE /D) Sasa ee ae osc. e ‘In.conjunction with the conventional = ee en | ae i i : 1 a2 03 04 a1 a2 a3.0¢ a1 a2a3.0¢ a1 a2 G3.04 a1 a2 W919 13 19 14 14 14 14 15 15 15 15 16 16 16 1017 17 DRAFTRecent Performance Improvement eon (id forecast, not necessarily representative of Company's current business plan and financial forecast Tee es YE Ts Prves UR 100 6G) AYEYSProWeSELR 1060/80) eConpanyFocat DRAFTTESTING IN THE UTICA COULD RESULT IN PROVING OF CURRENT CONTINGENT, UNDER- EXPLOITED RESERVES EXCO holds 40,000 net acres prospective for Utica dry gas with up to 860 gross locations (670 Op/190 OBO); Contingent Net Reserves of ~4 TCF based on 3.0 Bef/1000' type curve Results from nearby wells are encouraging Consot's Gaut well IP'd at 60+ Mmefid and cumulative production of 8.4 Bcf through 18 months of production as of Q1 2017 Range Resources ~ Claysville S.C. 9H: §9 Mmefid D&C costs are dectining with Consol expecting the recently driled Aiken appraisal wells to be $15mm; targeting development costs of $12.5mm for 7000' laterals EXCO has drilled and completed 500+ wells in the Haynesville at similar pressures and depths as the Utica DRAFTBossier STAGGERED BOSSIER WELLS COULD YIELD MORE LOCATIONS EXCO has approximately 30,000 net acres in the Bossier formation in DeSoto Parish with 167 gross operated locations / 132 080 locations 3P+ net reserves of 900 Bef Currently EXCO has § producing wells in NLA in the Mid-Bossier; 4 EXCO operated, 1 Operated by Other (080) 2017 vintage Bossier well (Norris 1-12) with largest completion design to date combined with a longer lateral IP’d 13 MMCFD and has CUM'd 1.2 Bef in under five months; EXCO's best Bossier well to date ‘The current appraisal program is designed to achieve further breakthroughs in performance by refining landing zone and completion design The thickness of the Middle Bossier interval could provide a compelling staggered lateral development approach ‘and yield additional gross locations DRAFTOther Drilling Opportunities Glenn Th Learn Modern Harrison / Panola Haynesville completion design EXCO’s last well in this area was in 2010 but there has been offset operator success Rock quality indicates that larger completion designs could have a positive uplift on economics Haynesville recompletion with comented liners Recent indications (QEP and CHK) have been positive from cemented liner recompletions South Texas landing zones Upper landing zones could help non-core areas achieve higher EURs and potentially allow for staggering core area wells Upper Devonian Offset operators are having success in the Upper Devonian in Appalachia Rogersville shale This area has received positive press based on public information and EXCO acreage has geologic potential DRAFTll. Additional Information Confidential DRAFTManagement Team enn curat uidscoiseesn eon the industry with a proven track record of maximizing value. The team has a deep know! jing developed als L Hickey Chiel Executive Oter & Prosdent Hares. ‘amoson ‘Vice President achiet ‘Operating ‘oftcor Tylers, Frquharson ‘Vice President, Chief Financial Ofer § Heathoet, Lamparer ‘Vice Presicont, Gore Counsel Secreta 16 years 10 years 12 years ‘Tyeors Oeaue essen Past Experence: Appointed Chit Executve Oficer In March 2015 ans Prescent since February 2013 Previously served a8 Chat Operating Oficer rom October 2005 uni March 2015 and Vico President ‘tom Octobor 2006 unl Fabruary 2013 Served as Presiden ofsubsclary Noh Coast Energy fom January 2004 unl October 2005 Production and Asset Manager of EXCO from 2001 1 2008 ‘Wrkod t Mobil Ol Corporation fom 1879 16 2000 ‘Appolned Chet Operating OMGerin Api 2015 Previously served as Vico President of Develapment and Production Served ina ies Prosiden le since March 201 ‘Gena! Manager of East Torea Noth Laisa area from August 2008 un March 2014 eter ‘serving 28 General Manager of Veron Fie project Prior a oinng the Company in Apt 2007, employed a Anadarko Perteum frm 1981 102007 Appointed Vice President, Chief Financial Ofcer and Treasirer in Fabry 2017 Previously served as acting Chef Financial Offcer and Treasurer since October 2016 and Vice President of Statege Planning sce August 2076 “Served in varcus roles including Strategie Analysis and Financia Panning Director since jing the ‘Company in 2008, ‘Appoied Vice President, General Counsel and Secretary in February 2017 Preuously served as Assistant General Counsel, acing General Counsel and Secretary begining in December 2016 ‘Served in various roles incuding Assistant Ganeral Counsel and Vice President Lega of Applactia w Before joining he Company in 2010, represented EAP companies at KAL Gates DRAFTOrganization Chart sos EB Resse canta ent elm cc a bece Rsoee Pm te Oe x A limited unencu om ore Altice not nin DRAFTExisting Capital Structure Fa ata aR Mtrity Coupon Arort_Leverag” Price Vale Savion Bee Limes aT NA 307 oo ar22 HP o na 22 7 (0220 suri?! 10 wes a - sep1rs00% 12 o ” ne 85% 7 6 e @) Make Cptateation at 10.1201 (61.2 sere) “2 = Debt Maturity Schedule 200 378 800) soar 400) 8 200 so mor 20182020 nate ibe! no ach toes thompson p81 Gena tans snap Gogo pn yn Pama ay A DRAFT(id forecast, not necessarily representative of Company's current North Louisiana Well Level Details business plan and financial forecast weit oerai.s Te Rk — er oe ee oy Pais = f= co Sota UCU CeO canon % aa 7 ” = ; 4 : ‘ § omen" 3 aan ee ee ee) Sree a a ee TYPE CURVES “0000 S200 & s000 2000 q ° 5 oo. 8 2 8 0 um 2 wo we OD —srvssssconnion cee — —wacaioxunenanirate ™E vcaichineste — —asonte Un 7860 sees, osEast Texas Well Level Details wet. peraits aaa Assumptions: - om Pot to on an manen “ foe S san een Sree oe TPE curves ou § sooo te poe ne (id forecast, not necessarily representative of Company's current ‘business plan and financial forecast Engin WE Egor SE 20% 14500 0 2 4 6 B 10 12 14 16 18 20 22 24 25 28 30 32 34 36 98 40 42 4A 46 AB 50 52 5K 56 58.60 eneeighenter HSH 6800 errand 85526 800° a DRAFTSouth Texas (Eagle Ford) Well Level Detai WELL DETAILS ils “eric SEPT? 7500 "500 ‘TYPE CURVES ‘imate 081480) (id forecast, not necessarily representative of Company's current business plan and financial forecast —srxenieror ner 7.500 extn For 27800 2 DRAFTAppalachia Well Level Details WELL DETAILS res 300 aon Pass) fs Tried Dodine oon eaeUR MC manasa Gomtaatione 2 v0 (Sm thovsndy sep00 (Gn houses 400 ‘TYPE CURVES ‘moc 15000 2 100 : 000 reno yeaming anno 90 2508 sam APP ee yom GRC 4 900 (id forecast, not necessarily representative of Company's current ‘business plan and financial forecast 2082 $5200 2 DRAFT