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EXCO Resources Inc Announces Closing of Haynesville Acquisition

Friday, 12 Jul 2013 11:19am EDT 

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. 

Company Quote

0.06 +1.65%
11:14am EST