Analyst Research

Report Title Price
Provider: Thomson Reuters Stock Report
$25.00
Provider: New Constructs, LLC
$25.00
Provider: Wright Reports
$75.00
Provider: MacroRisk Analytics/EconomicInvestor
$25.00

NYSE and AMEX quotes delayed by at least 20 minutes. NASDAQ delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.

EXCO Resources Inc Announces Partnership With Harbinger Group Inc. Related To Conventional Oil And Gas Properties In Texas And Louisiana


Monday, 5 Nov 2012 08:00am EST 

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. 

Company Quote

4.47
-0.04 -0.89%
22 Aug 2014