Exhibit 99.1

EXCO Resources, Inc.

12377 Merit Drive, Suite 1700, LB 82, Dallas, Texas 75251

(214) 368-2084 FAX (972) 367-3559

EXCO RESOURCES, INC. REPORTS FIRST QUARTER 2012 RESULTS

DALLAS, TEXAS, May 1, 2012…EXCO Resources, Inc. (NYSE: XCO) (“EXCO”) today announced first quarter results for 2012.

Douglas H. Miller, EXCO’s Chief Executive Officer, commented, “During the first quarter 2012, we made significant progress on accomplishing many of our key target actions for the year.

“We continued our very successful development activities in the Haynesville and Marcellus shale areas and met our production goals for the quarter with an average of 533 Mmcfe per day. Operationally, we reduced our company-wide rig count from 23 at year end to 14 at the end of the quarter in response to low natural gas prices. We intend to further decrease our rig count during the remainder of the year and expect to end the year with 8 to 10 rigs. We have also reduced our estimated per well drilling costs in the Haynesville from approximately $9.5 million to $8.5 million through a combination of supplier cost reductions and well design changes. We continued to reduce our operating and general and administrative costs.

“As expected, we completed a redetermination of our borrowing base with our lender group at $1.4 billion, which should provide adequate liquidity for our operations going forward. We will seek to reduce our debt levels through asset sales, including all or part of our midstream assets, and sales or joint ventures of certain of our conventional assets.

“We continue to review and evaluate strategic producing and non-producing property acquisitions in our core areas and are also evaluating potential acquisitions in other basins, particularly those that are oil and liquid prone.

“Although the present natural gas environment is difficult, we are positioned financially and operationally to continue successfully maintaining our significant core asset base and capitalizing on opportunities as they arise.”

Net income

Our reported net income (loss) shown below, a GAAP measure, includes certain items not typically included by securities analysts in their published estimates of financial results. The following table provides a reconciliation of our net income (loss) to non-GAAP measures of adjusted net income:

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Cash flow

Our cash flow from operations before working capital changes was $95 million for the first quarter 2012. We use our cash flow and available borrowing capacity in our credit agreement to fund our drilling and development programs.

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Redetermination of borrowing base

On April 27, 2012, we completed our semi-annual borrowing base redetermination with our banking group. The borrowing base was established at $1.4 billion, with an interest grid of LIBOR plus 175 bps to 275 bps (or ABR plus 75 bps to 175 bps). Our debt to EBITDA covenant was changed to 4.5 to 1.0 from 4.0 to 1.0, effective for the quarter ended March 31, 2012 and thereafter. The amendment also provides for a procedure for sales of oil and natural gas properties or other material assets, including our interest in TGGT, whereby the proceeds from asset sales (over a minimum threshold) will be used to pay down the outstanding debt balance under the credit agreement and will also reduce the borrowing base. The borrowing base reduction will be equal to the borrowing base value assigned to the assets sold (if any) plus cash proceeds in excess of the borrowing base value aggregating up to $200 million. As of April 27, 2012, $1.1 billion was drawn under our credit agreement and we had $156 million of cash, which includes $139 million of restricted cash.

Operations activity and outlook

We spent $142 million on development and exploitation activities, drilling and completing 42 gross (18.4 net) operated wells in the first quarter 2012, compared with 65 gross (23.2 net) operated wells during the fourth quarter 2011. In addition, we participated in 10 gross (1.6 net) wells operated by others (OBO) during the first quarter 2012. We had an overall drilling success rate of 100% for the first quarter 2012. Our total capital expenditures, including leasing and net of acreage reimbursements from BG Group, were approximately $162 million in the first quarter 2012.

Our actual capital expenditures for the quarter ended March 31, 2012 and our projected capital spending for the remainder of 2012 is presented in the following table:

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Haynesville/Bossier Shale

Our horizontal Haynesville shale development program continues to be a significant asset for EXCO and continues to yield strong results. As of April 16, 2012, our Haynesville/Bossier shale operated production was 1,219 Mmcf per day gross (366.5 Mmcf per day net) and with the addition of net production from our OBO wells, we had 401.0 Mmcf per day of total Haynesville/Bossier shale net production. In response to low natural gas prices, we have made a significant reduction to our drilling program. In 2011 we averaged 22 operated rigs in the Haynesville/Bossier shale throughout the year. We began to reduce our rig count in late 2011 and have further reduced the rig count in the first quarter. We currently have eight active operated rigs drilling in the play and will reduce to seven rigs in May. We will evaluate product pricing and project economics and make further decisions on rig count throughout the year. Our development drilling program for 2012 is focused in DeSoto Parish, Louisiana where we continue our 80-acre spacing manufacturing program. Our assets in San Augustine and Nacogdoches Counties, Texas have been delineated and tested and almost all of our core acreage in that area is held by production. We do not have plans to drill additional wells in the East Texas area in 2012 and are now focused on evaluation and planning for future full field development. During 2012, we plan to drill approximately 68 gross (24.5 net) operated wells in the Haynesville/Bossier shale play with almost all of these wells in DeSoto Parish, Louisiana.

We drilled and completed 30 gross (8.4 net) operated horizontal Haynesville/Bossier wells and participated in 10 gross (1.6 net) OBO Haynesville/Bossier horizontal wells during the first quarter 2012. We utilized an average of 14 operated rigs and spud 23 operated horizontal wells during the quarter. We averaged one OBO rig drilling in the play and spud three OBO wells during the quarter. We currently have no OBO rigs drilling. In total, we have 324 operated horizontal wells and 177 OBO horizontal wells flowing to sales.

The average initial production rate from our operated Haynesville horizontal wells completed in the first quarter 2012 in DeSoto Parish was 13.3 Mmcf per day with an average of 8,250 psi flowing casing pressure on an average 18/64ths choke. This 18/64ths choke size is indicative of our new restricted choke management program we have implemented in DeSoto Parish, based on the strong results we realized in our East Texas area. We believe that the current choke management program will result in a higher estimated ultimate recovery (EUR) per well than our initial choke program.

We have a major cost reduction and efficiency program underway and are beginning to see significant improvements in capital efficiency. Our DeSoto Parish well costs in the fourth quarter 2011 were approximately $9.3 to $9.5 million per well. With the changes implemented to date, our current estimated well cost in the DeSoto Parish area is $8.5 million, approximately $1.0 million or 10% less than actual costs at year end 2011. We are expecting to realize additional improvements in capital efficiency during 2012 and are targeting $8.0 million per well by year end 2012.

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We completed a significant spacing test in our Shelby Area of East Texas in the first quarter 2012 to fully develop the Haynesville and Bossier shales across two units. EXCO and an offset operator drilled 14 new horizontal wells and one vertical monitor well to test and properly evaluate the Haynesville/Bossier shale well spacing to assess the proper development strategy. All wells were turned to sales late in the first quarter 2011 and were completed on schedule. The peak production rate for the project was 215 Mmcf per day gross with flowing casing pressures of 9,085 psi on average with a restricted choke program. Our plans are to evaluate the performance of this spacing pilot before proceeding with additional development in the East Texas area. By enhancing our understanding of reservoir performance, we plan to maximize the EUR from our drilling and completion programs.

Marcellus Shale

Our current gross Marcellus shale production is approximately 116 Mmcf per day (20.2 Mmcf per day net), which represents an increase of more than 7% since the end of 2011. We have more than 35 Mmcf per day (7.4 Mmcf per day net) of production shut in due primarily to offset drilling and completion activities. We have implemented a development program within our acreage in northeast Pennsylvania and are concluding an appraisal program in central Pennsylvania. We plan to drill 49 gross (12.4 net) operated wells in the Marcellus shale play in our Appalachia region during 2012. Of the 49 wells, 46 gross (11.5 net) will be development wells and 3 gross (0.9 net) will be appraisal wells. Most of our drilling activity will be in Lycoming County, Pennsylvania where we are realizing our best returns in the Marcellus shale. We are currently drilling with three operated rigs in the play. Our net drilling dollars are reduced by the effect of the carry we receive from BG Group. Approximately $29.7 million of the carry remains available to us from BG Group as of March 31, 2012. We expect that the remaining carry will be used in 2012.

During the first quarter 2012, we spud 11 new operated wells and drilled and completed 3 gross (1.2 net) operated wells in the Marcellus shale. These three completed wells included two appraisal wells in Central Pennsylvania and one delineation well in Northeast Pennsylvania. The two Central Pennsylvania appraisal wells are currently awaiting pipeline connections. We are also focused on building our field infrastructure in support of our expected levels of activity. Along with efficiency gains derived from our drilling and completion program, these infrastructure investments are expected to be the primary drivers to reduce our average development well costs.

Permian

We drilled and completed 9 gross (8.8 net) wells in our Sugg Ranch area during the first quarter 2012 with 100% drilling success. We currently are running one operated rig and plan to drill and complete 36 gross (34.9 net) wells in 2012. Our oil production at Sugg Ranch has increased by 4% to approximately 1,700 net barrels per day in the first quarter of 2012 as compared to the fourth quarter of 2011, and economics for this drilling activity typically have rates-of-return in excess of 50%. In addition to the oil production, we also produced approximately 1,300 net barrels of natural gas liquids per day and 5.8 net Mmcf of natural gas per day, resulting in a total of approximately 4,000 barrels per day of net oil equivalent production from our Permian operations.

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Based on industry results surrounding our Permian acreage position, we are currently evaluating our shale potential. We are drilling a vertical test well and are evaluating core samples. Based on those results, we may spud a horizontal test well during the second quarter of 2012.

Midstream

Our jointly held midstream company, TGGT, had total throughput which averaged approximately 1.5 Bcf per day for the first quarter of 2012. TGGT’s adjusted EBITDA of $34.7 million for the first quarter of 2012 was a 19% increase over TGGT’s adjusted EBITDA for the fourth quarter of 2011.

TGGT installed temporary treating units in the Holly area at its damaged facility from a second quarter 2011 incident and began treating volumes late in the first quarter of 2012. Currently, no Holly volumes are constrained due to treating capacity issues. TGGT is installing permanent treating at its Holly treating locations with start-up planned during the third quarter 2012. For the three months ended March 31, 2012, TGGT recorded an impairment of approximately $35 million of certain assets ($18 million net to us) associated with the installation of temporary treating facilities in response to the May 2011 pipeline incident. After completion of an independent engineering study, the decision was made to activate the permanent facility affected by the incident since that facility had not sustained as much damage as was initially contemplated. The impairment primarily resulted from costs incurred related to temporary treating facilities that were not utilized or determined to have a shorter utilization period than originally anticipated. In addition, lower than expected throughput volumes at the facility as a result of reduced drilling contributed to the impairment.

In our Shelby area, a 20 mile pipeline project and a treating facility will be operational in the second quarter of 2012, which will provide treating capacity of approximately 250 Mmcf per day. Once the Shelby pipeline and the treating facility are operational, TGGT’s major infrastructure development in the Shelby Area will be concluded for 2012.

Financial Data

Our consolidated balance sheets as of March 31, 2012 and December 31, 2011 and consolidated statements of operations for the three months ended March 31, 2012 and 2011, and consolidated statements of cash flows for the three months ended March 31, 2012 and 2011, are included on the following pages. We have also included reconciliations of non-GAAP financial measures referred to in this press release which have not been previously reconciled.

EXCO will host a conference call on Wednesday, May 2, 2012 at 10:00 a.m. (Dallas time) to discuss the contents of this release and respond to questions. Please call (800) 309-5788 if you wish to participate, and ask for the EXCO conference call ID# 70531704. The conference call will also be webcast on EXCO’s website at www.excoresources.com under the Investor Relations tab. Presentation materials related to this release will be posted, after market close, on EXCO’s website on Tuesday, May 1, 2012.

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A digital recording will be available starting two hours after the completion of the conference call until 11:59 p.m., May 16, 2012. Please call (800) 585-8367 and enter conference ID# 70531704 to hear the recording. A digital recording of the conference call will also be available on EXCO’s website.

Additional information about EXCO Resources, Inc. may be obtained by contacting EXCO’s Chairman, Douglas H. Miller, or its President, Stephen F. Smith, at EXCO’s headquarters, 12377 Merit Drive, Suite 1700, Dallas, TX 75251, telephone number (214) 368-2084, or by visiting EXCO’s website at www.excoresources.com. EXCO’s SEC filings and press releases can be found under the Investor Relations tab.

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We believe that it is important to communicate our expectations of future performance to our investors. However, events may occur in the future that we are unable to accurately predict, or over which we have no control. You are cautioned not to place undue reliance on a forward-looking statement. When considering our forward-looking statements, keep in mind the risk factors and other cautionary statements in this press release and the risk factors included in our Annual Report on Form 10-K for the year ended December 31, 2011, and our other periodic filings with the SEC.

Our revenues, operating results, financial condition and ability to borrow funds or obtain additional capital depend substantially on prevailing prices for oil and natural gas. Declines in oil or natural gas prices may materially adversely affect our financial condition, liquidity, ability to obtain financing and operating results. Lower oil or natural gas prices also may reduce the amount of oil or natural gas that we can produce economically. A decline in oil and/or natural gas prices could have a material adverse effect on the estimated value and estimated quantities of our oil and natural gas reserves, our ability to fund our operations and our financial condition, cash flow, results of operations and access to capital. Historically, oil and natural gas prices and markets have been volatile, with prices fluctuating widely, and they are likely to continue to be volatile.

The SEC permits oil and natural gas companies in filings made with the SEC to disclose proved reserves that a company has demonstrated by actual production or conclusive formation tests to be economically and legally producible under existing economic and operating conditions. The SEC permits optional disclosure of “probable” and “possible” reserves in its filings with the SEC. EXCO may use broader terms to describe additional reserve opportunities such as “potential,” “unproved,” or “unbooked potential,” to describe volumes of reserves potentially recoverable through additional drilling or recovery techniques that the SEC’s guidelines strictly prohibit us from including in filings with the SEC. These estimates are by their nature more speculative than estimates of proved, probable or possible reserves and accordingly are subject to substantially greater risk of actually being realized by the company. While we believe our calculations of unproved drillsites and estimation of unproved reserves have been appropriately risked and are reasonable, such calculations and estimates have not been reviewed by third party engineers or appraisers. Investors are urged to consider closely the disclosure in our Annual Report on Form 10-K for the year ended December 31, 2011, which is available on our website at www.excoresources.com under the Investor Relations tab.

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EXCO Resources, Inc.

Consolidated balance sheet

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EXCO Resources, Inc.

Consolidated balance sheet

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EXCO Resources, Inc.

Consolidated statement of operations

(Unaudited)

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EXCO Resources, Inc.

Consolidated statement of cash flows

(Unaudited)

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EXCO Resources, Inc.

Consolidated EBITDA

And adjusted EBITDA reconciliations and statement of cash flow data

(Unaudited)

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TGGT Holdings, LLC

EBITDA and adjusted EBITDA reconciliation

(Unaudited)

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TGGT Holdings, LLC

Computation of adjusted net income

(Unaudited)

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EXCO Resources, Inc.

Summary of operating data

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