EXCO Resources, Inc. Closes Sale of Remaining Mid-Continent Assets
|
|
|
| Posted
:
Tue, 10 Nov 2009 17:43:36 GMT |
| Author
:
EXCO Resources, Inc.
|
| Category
:
Press Release |
| News Alerts by
Email ( click
here ) |
| Press Release
News |
Home
|
|
|
|
DALLAS - (Business Wire) EXCO Resources, Inc. (NYSE: XCO) (“EXCO”) today closed the previously announced sale of all of its remaining Mid-Continent oil and natural gas assets to Sheridan Holding Company I, LLC. The sale was effective as of October 1, 2009. Total proceeds received at the closing were $530.2 million, subject to customary post-closing adjustments. The proceeds from the sale were used to repay a portion of EXCO’s revolving credit facility. As of September 30, 2009, the properties included estimated proved reserves of 4.6 million barrels of oil (Mmbbls) and 207.7 billion cubic feet (Bcf) of natural gas, or 235.3 billion cubic feet of natural gas equivalent (Bcfe), based on SEC pricing. Current net production includes 979 barrels of oil per day and 39.2 million cubic feet per day of natural gas, or 45.1 million cubic feet of natural gas equivalent per day. 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. 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. This release may contain forward-looking statements relating to future financial results, business expectations and business transactions. Business plans may change as circumstances warrant. Actual results may differ materially from those predicted as a result of factors over which EXCO has no control. Such factors include, but are not limited to: estimates of reserves, commodity price changes, regulatory changes and general economic conditions. These risk factors and additional information are included in EXCO’s reports on file with the Securities and Exchange Commission. EXCO undertakes no obligation to publicly update or revise any forward-looking statements. EXCO Resources, Inc. Douglas H. Miller, 214-368-2084 Chairman or Stephen F. Smith, 214-368-2084 President
|

Copyright © 2008
Business Wire. All rights reserved.
|
|
|
|
|
Related
News
Power Tagging Announces National Science Foundation Grant
Company Selected Amongst Thousands to Continue to Evolve Data Structures to Support the Emerging NIST Smart Grid Standards./I/P
P(PRWEB) November 22, 2009 -- Power Tagging, a leading provider of next generation smart grid communications technologies, today announced that the company has...
2011 Cadillac CTS Coupe: New Sports Coupe Is Cadillac's Most Dramatic Design
LOS ANGELES, Nov. 23 /PRNewswire/ -- Cadillac today unveiled the 2011 CTS Coupe, the latest and most dramatic of the brand's series of new designs to reach production. Slated to arrive in Cadillac showrooms in the spring of 2010, the CTS Coupe is a new luxury sports coupe designed t...
U.S. Census Bureau Daily Feature for Nov. 23
WASHINGTON, Nov. 23 /PRNewswire-USNewswire/ -- Following is the daily "Profile America" feature from the U.S. Census Bureau:
(Logo: http://www.newscom.com/cgi-bin/prnh/20090226/CENSUSLOGO)
Majorities Reject Banning Defamation of Religion: 20 Nation Poll
COLLEGE PARK, Md., Nov. 23 /PRNewswire-USNewswire/ -- As the UN General Assembly prepares to debate a proposal calling for nations to take action against the defamation of religion, majorities in 13 of 20 nations polled around the world support the right to criticize a religion.
Amid the Flu Epidemic, Don't Forget RSV in Young Children
RSV found to cause far more emergency department visits and hospitalizations than seasonal flu
BOSTON, Nov. 23 /PRNewswire-USNewswire/ -- Influenza, particularly H1N1, has understandably captured the attention of public health officials, the media and the public...
Peter Wilkinson Appointed IPREX President Asia Pacific ATLANTA -
Peter Wilkinson, CEO of Wilkinson PR, a full service corporate affairs
and public relations agency with offices in Sydney, Melbourne and Perth,
has been appointed President Asia Pacific of IPREX, the global
corporation of independent public relations and communication firms.
Report Finds Girls' Schools in Afghanistan Face Highest Risk of Violence; Suggests Steps for Preventing Attacks
- New study supports community-based approach to education in Afghanistan -
ATLANTA, Nov. 23 /PRNewswire-USNewswire/ -- Today CARE, the World Bank and the Afghanistan government released "Knowledge on Fire: Attacks on Education in Afghanistan," a groun...
|
|
|
|
|
|
|
|
|