Key Developments: EXCO Resources Inc (XCO.N)
8.81USD
1 Aug 2013
$0.14 (+1.61%)
$8.67
$8.75
$8.92
$8.71
395,798
618,514
$9.08
$5.97
Latest Key Developments (Source: Significant Developments)
EXCO Resources Inc Announces Closing Of Eagle Ford Acquisition
EXCO Resources Inc announced that it has closed its previously announced acquisition of producing and undeveloped oil and gas assets in the Eagle Ford shale formation (Eagle Ford) from subsidiaries of Chesapeake Energy Corporation for total consideration of approximately $685 million in cash, subject to customary post-closing purchase price adjustments. The acquisition had an effective date of April 1, 2013. Full Article
EXCO Resources Inc Announces Closing of Haynesville Acquisition
EXCO Resources Inc announced that it has closed its previously announced acquisition of producing and undeveloped oil and gas assets in the Haynesville shale formation (Haynesville) from subsidiaries of Chesapeake Energy Corporation for total consideration of approximately $288 million in cash, subject to customary post-closing purchase price adjustments. The acquisition had an effective date of January 1, 2013. EXCO financed the Haynesville acquisition under the Company`s existing credit agreement. The Haynesville acquisition is subject to an affiliate of BG Group plc.`s preferential right to acquire 50% of the Haynesville properties. Full Article
EXCO Resources Inc Announces $1 Billion Acquisition Of Eagle Ford And Haynesville Assets
EXCO Resources, Inc. announced that it has entered into definitive agreements to acquire producing and undeveloped oil and gas assets in the Eagle Ford and Haynesville shale formations ("Eagle Ford" and "Haynesville", respectively) for an aggregate purchase price of approximately $1 billion, subject to closing adjustments and customary terms and conditions, from subsidiaries of Chesapeake Energy Corporation. Full Article
EXCO Resources Inc Declares Quarterly Cash Dividend
EXCO Resources Inc announced that Board of Directors declared a first quarter cash dividend of $0.05 per share. The dividend is payable on June 28, 2013 to holders of record on June 14, 2013. Full Article
EXCO Resources Inc Announces Senior Management And Board Changes
EXCO Resources Inc announced that Mr. Smith retired from his duties as EXCO`s President effective February 28, 2013 and will retire from his duties as EXCO`s Chief Financial Officer (CFO) effective April 1, 2013. Following his retirement, Mr. Smith will continue to serve as a consultant to EXCO until June 1, 2016 and will remain on the Board of Directors of the recently announced partnership with Harbinger Group Inc. Effective February 28, 2013, Harold L. Hickey, EXCO`s Vice President and Chief Operating Officer, has been appointed to replace Mr. Smith as EXCO`s President and will remain EXCO's Chief Operating Officer. Effective April 1, 2013, Mark Mulhern, EXCO`s former Chairman of the Audit Committee, has been appointed to replace Mr. Smith as EXCO`s CFO. Mr. Mulhern previously served as CFO and Senior Vice President of Progress Energy, Inc. and managed its financial services group until July 2012. Full Article
EXCO Resources Inc Announces Quarterly Dividend
EXCO Resources Inc announced that Board of Directors declared a first quarter cash dividend of $0.05 per share, which represents a 25% increase compared to last quarter's dividend. The dividend is payable on March 29, 2013 to holders of record on March 15, 2013. Full Article
EXCO Resources Inc Issues FY 2013 Quarterly EBITDA Guidance-Conference Call
EXCO Resources Inc announced that for fiscal 2013, it expects adjusted EBITDA at around $70 million per quarter. Full Article
EXCO Resources Inc Declares Quarterly Cash Dividend
EXCO Resources Inc announced that Board of Directors declared a fourth quarter cash dividend of $0.04 per share. The dividend is payable on December 28, 2012 to holders of record on December 14, 2012. Full Article
EXCO Resources Inc Announces Partnership With Harbinger Group Inc. Related To Conventional Oil And Gas Properties In Texas And Louisiana
EXCO Resources Inc announced a definitive agreement with Harbinger Group Inc. (HGI) whereby EXCO will contribute its conventional non-shale assets in East Texas and North Louisiana and its shallow Canyon Sand and other miscellaneous assets in West Texas to a limited partnership (the Partnership) with HGI. In exchange for the contribution of its assets, EXCO will receive cash consideration of $597.5 million, subject to customary purchase price adjustments to reflect an effective date of July 1, 2012, a 24.5% limited partner interest in the Partnership and a 50% interest in the general partner of the Partnership. HGI will contribute $372.5 million cash and will receive a 73.5% limited partner interest in the Partnership and a 50% interest in the general partner. The remaining $225 million of the cash consideration paid to EXCO will be funded by a revolving credit agreement to be entered into by the Partnership. The formation of the Partnership results in a $725 million valuation of the oil and gas properties included in the transaction. After giving effect to the 2% general partner interest in the Partnership, EXCO and HGI will own an economic interest in the Partnership of 25.5% and 74.5%, respectively. Full Article
EXCO Resources Inc Declares Quarterly Cash Dividend
EXCO Resources Inc announced that its Board of Directors declared a third quarter cash dividend of $0.04 per share. The dividend is payable on September 28, 2012 to holders of record on September 14, 2012. Full Article
Chesapeake closes capex gap with $1 billion asset sale to Exco
- Chesapeake Energy Corp is selling assets in the Eagle Ford and Haynesville shales in the United States to Exco Resources Inc for about $1 billion to shore up finances battered by years of low gas prices and heavy spending. | Video

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