Untitled Document
Untitled Document

EXCO closes on Haynesville, Bossier shale properties from Southwestern

DALLAS - EXCO Resources Inc. (NYSE:XCO) has closed the purchase jointly with BG Group, plc of properties in the Haynesville and Bossier shale plays from Southwestern Energy Co (NYSE:SWN).

Houston-based Southwestern Energy, ranked No. 24 by total assets for the quarter ending Dec. 31, 2009 in OGFJ's May issue OGJ150 Quarterly, retained the drilling and producing rights covering all other depths in the acreage, including the company’s current James Lime and Pettet drilling programs.

The total purchase price paid at the closing was $355.8 million ($177.9 million net to EXCO). EXCO's net acquisition price was financed with borrowings under its credit agreement.

The development of these assets will be governed by EXCO's East Texas/North Louisiana joint venture with BG Group. The majority of the assets acquired in this transaction represent incremental working interests in properties which EXCO and BG Group acquired in the recently closed Common Resources acquisition.

EXCO Resources, Inc. is an oil and natural gas exploration, exploitation, development and production company headquartered in Dallas, Texas with principal operations in East Texas, North Louisiana, Appalachia, and West Texas.

Related Articles

Halliburton, STP form JV for unconventional exploration in China

07/11/2014 Halliburton, the oilfield services company with the largest hydraulic fracturing fleet, has signed an agreement with the SPT Energy Group Inc. affiliate, Petrotech (Xinjiang) Engineering Co. Ltd., ...

Talisman, Statoil end effort to sell Eagle Ford joint venture

07/09/2014

Talisman Energy Inc. and Statoil have ended their effort to sell their joint venture in the Eagle Ford basin after offers came in lower than expected, Bloomberg reported.

Construction of Seaway Pipeline loop completed

07/07/2014 Enterprise Products Partners LP and Enbridge Inc. report that the 512-mile loop of the Seaway Pipeline system from Cushing, Oklahoma, to the Jones Creek storage and terminal facility near Freeport,...

Ecopetrol agrees to participate in exploration of two blocks in Angola

07/07/2014 Ecopetrol SA (BVC: ECOPETROL; NYSE: EC; TSX: ECP) reports that, as part of its strategy of diversifying and strengthening its international exploration portfolio, an agreement has been reached with...

Dejour closes Kokopelli joint venture

07/01/2014

Dejour Energy Inc. has formed a joint venture with a private US-based E&P company to develop its core Kokopelli leasehold in the Piceance Basin region of Colorado.

More Oil & Gas Financial Articles

Halliburton, STP form JV for unconventional exploration in China

Fri, Jul 11, 2014

Halliburton, the oilfield services company with the largest hydraulic fracturing fleet, has signed an agreement with the SPT Energy Group Inc. affiliate, Petrotech (Xinjiang) Engineering Co. Ltd., to establish a joint venture company focused on hydraulic fracturing and production enhancement services in Xinjiang, China.

Talisman, Statoil end effort to sell Eagle Ford joint venture

Wed, Jul 9, 2014

Talisman Energy Inc. and Statoil have ended their effort to sell their joint venture in the Eagle Ford basin after offers came in lower than expected, Bloomberg reported.

Construction of Seaway Pipeline loop completed

Mon, Jul 7, 2014

Enterprise Products Partners LP and Enbridge Inc. report that the 512-mile loop of the Seaway Pipeline system from Cushing, Oklahoma, to the Jones Creek storage and terminal facility near Freeport, Texas, is mechanically complete.

Ecopetrol agrees to participate in exploration of two blocks in Angola

Mon, Jul 7, 2014

Ecopetrol SA (BVC: ECOPETROL; NYSE: EC; TSX: ECP) reports that, as part of its strategy of diversifying and strengthening its international exploration portfolio, an agreement has been reached with Statoil to acquire a 10% participation in the blocks 38/11 and 39/11 in the Kwanza basin, located offshore Angola.

Dejour closes Kokopelli joint venture

Tue, Jul 1, 2014

Dejour Energy Inc. has formed a joint venture with a private US-based E&P company to develop its core Kokopelli leasehold in the Piceance Basin region of Colorado.

Most Popular

Oil & Gas Jobs

Search More Job Listings >>
Subscribe to OGFJ