EXCO Resources, Inc. Company News

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Is the US Shale Boom Winding Down?
Tuesday, August 06, 2019 US shale producers are dialing back growth in the face of challenges that are killing returns and keeping skeptical investors away.

EXCO Halts Drilling In Eagle Ford Shale, Cites Low Oil Prices
Tuesday, October 27, 2015 EXCO says it has suspended oil exploration in the Eagle Ford shale of South Texas because of low crude prices.

BG Group Sells Texas Cotton Valley Assets
Friday, February 15, 2013 BG Group signs a sale and purchase agreement with EXCO for the divestment of all its interests in the Cotton Valley formation.

EXCO Finalizes $725M Deal with Harbinger Group
Friday, February 15, 2013 EXCO Resources closes its conventional oil and natural gas partnership with Harbinger Group Inc. and receives net proceeds of $573.3 million.

Harbinger to Buy Exco O&G Assets for $725M
Monday, November 05, 2012 Harbinger inks a joint venture with Exco to create a private oil and gas limited partnership that will purchase and operate Exco's producing US conventional O&G assets.

ExxonMobil's Natural-Gas Push Could Hit Small US Producers
Friday, February 03, 2012 ExxonMobil's decision to leave its U.S. natural-gas output untouched may push some smaller producers out of the business, force consolidation in the industry and make the co. an even more powerful force in the oilpatch.

Exco Increases Production by 70% in 4Q10
Monday, January 24, 2011 Oil and natural gas production was 32.2 Bcfe for the fourth quarter 2010, which represents a 70% increase from pro forma fourth quarter 2009 production of 19.0 Bcfe.

Chief, Radler Sell Marcellus Assets
Wednesday, December 22, 2010 Chief Oil & Gas LLC and Radler 2000 Limited Partnership have entered into an asset purchase and sale agreement to sell certain natural gas properties in the Marcellus Shale to EXCO Holding PA, a subsidiary of EXCO Resources, Inc.

Additional Operators Join Object's Marcellus Project
Wednesday, December 22, 2010 Object Reservoir Inc. announced today that additional operators have recently joined the companys Collaborative Exploitation Project (CEP) for the Marcellus Shale in Northeast Pennsylvania.

BG Group, EXCO Strengthen Position in Appalachian Basin
Monday, May 10, 2010 BG Group has entered into further joint venture arrangements with its US shale partner, EXCO Resources.

EXCO in Talks to Purchase Common Resources
Wednesday, April 21, 2010 EXCO announced an agreement to purchase Common Resources jointly with BG Group for approximately $446 million in cash.

EXCO Resources Strengthens Board
Tuesday, February 02, 2010 EXCO Resources' Board of Directors has appointed Mark F. Mulhern as a director of EXCO, effective February 1, 2010.

Exco: Marcellus Ops Continuing As Planned
Friday, January 15, 2010 EXCO Resources, Inc. confirmed Friday that its Marcellus shale exploration and production activities, including drilling, are proceeding as planned with no interruption of its 2010 business goals.

EXCO Resources Tags 2010 Capital Budget
Tuesday, November 24, 2009 The Board of Directors of EXCO Resources has approved a capital budget of $471.4 million for 2010.

EXCO Resources Declares Fourth Quarter Dividend
Friday, November 20, 2009 EXCO Resources' Board of Directors declared a fourth quarter cash dividend of $0.025 per share payable on December 15, 2009 to holders of record on November 30, 2009.

EXCO-North Coast Welcomes 2 Industry Vets to Marcellus Play
Monday, October 05, 2009 EXCO-North Coast, a wholly-owned subsidiary of EXCO Resources, has added Jeff Cutler as General Manager, Drilling, and Ed Long as Manager, Production Engineering, to its Cranberry Twp., PA office.

EXCO Resources Declares Cash Dividend
Friday, October 02, 2009 EXCO Resources announced that its Board of Directors approved the commencement of a dividend program at an initial quarterly cash dividend rate of $0.025 per share of EXCO's common stock.

EXCO Resources to Sell Oklahoma Producing Assets
Wednesday, September 30, 2009 EXCO Resources has reached an agreement with Sheridan Holding Company I, LLC to sell all of its producing assets in Oklahoma for $540 million, subject to customary purchase price adjustments.

BG Group Clinches Stake in U.S. Shale Gas Alliance
Friday, August 14, 2009 BG Group has announced the closing of the upstream and midstream acquisitions as part of the previously announced alliance with EXCO Resources Inc.

EXCO Resources Posts Second Quarter Results
Wednesday, August 05, 2009 "The second quarter of 2009 was one of outstanding accomplishments for EXCO," commented Douglas H. Miller, EXCO's Chairman and CEO.

EXCO Resources Reviews U.S. Shale Operations During 2Q
Wednesday, August 05, 2009 EXCO Resources has provided a review of its U.S. shale operations activity and outlook in its second quarter 2009 results.

BG Group Takes Billion-Dollar Bite of US Shale
Tuesday, June 30, 2009 BG Group agreed to pay $1 billion for a stake in Exco's shale-gas properties in Texas and Louisiana, becoming the latest European oil major to move into U.S. unconventional natural gas.

Encore Acquisition Snaps Up Mid-Continent, East Texas Producing Properties
Monday, June 29, 2009 Encore has entered into definitive agreements with EXCO Resources to acquire oil and natural gas properties in the Mid-Continent and East Texas for $375 million in cash.

EXCO's $2.475B Borrowing Base Commitment Reaffirmed
Monday, April 20, 2009 EXCO Resources announced that its bank group completed a semi-annual review of the borrowing bases under its revolving credit agreements.

Object Reservoir Unveils Haynesville Shale Multi-Co Exploitation Project
Thursday, April 16, 2009 Object Reservoir announced the commencement of a multi-company initiative to help increase the value of Haynesville shale assets.

EXCO Delivers Record Results, Reviews 2009 Planned Activity
Tuesday, February 24, 2009 EXCO Resources announced full year and fourth quarter 2008 results and 2009 planned activity.

Crimson's South Texas, Gulf Coast Assets Increase Production
Monday, February 23, 2009 Crimson Exploration announced results of production and drilling activity for the fourth quarter of 2008 and year-end 2008 reserves.

EXCO Completes First Horizontal Haynesville Well
Tuesday, December 09, 2008 EXCO Resources has announced the completion of the Oden 30H-6 in DeSoto Parish, Louisiana, its first Haynesville horizontal well completion.

EXCO Increases Capital Budget
Thursday, March 13, 2008 The increase brings the total 2008 capital budget to $800 million.

EXCO Resources' Proved Reserves Increase 52%
Monday, January 28, 2008 Our estimated proved reserves have grown 52%, from 1,250 Bcfe at December 31, 2006 to approximately 1,902 Bcfe at December 31, 2007, with both cases calculated at $8 per Mcf natural gas and $60 per barrel oil pricing.

Texas Property Acquisition Increases EXCO's Reserves by 60 Bcfe
Monday, January 28, 2008 EXCO acquired an additional 45% interest for $156.6 million and became operator in 28,000 acres of leasehold and 135 producing wells. It acquired an initial working interest in the field in April 2006.

EXCO Spends $151.3M on Field Dvlpmnt for Q4 2007, Budgets $625M
Monday, January 28, 2008 EXCO Resources' drilling program continues to make solid progress with 22 drilling rigs running at the end of the fourth quarter of 2007. This compares with 26 rigs running at the end of the third quarter of 2007 and 15 rigs running at year-end 2006.

EXCO Resources Announces Withdrawal of Master Limited Partnership Offering
Thursday, January 10, 2008 EXCO Resources, Inc. announced its decision to withdraw a registration statement previously filed by EXCO Partners, LP with respect to a proposed offering of units in a master limited partnership.

Exco Resources Sets 2008 Budget at $625.2 Million
Monday, November 19, 2007 EXCO Resources has approved a capital spending budget of $625.2 million for 2008. This budget amount is approximately 24% more than the approved 2007 budget.

EXCO Plans to Form Master Limited Partnership
Monday, July 30, 2007 EXCO intends to pursue an initial public offering of common units representing limited partner interests of a master limited partnership subsidiary to be formed in order to own a substantial portion of their oil and natural gas producing properties.

EXCO Boosts 2007 Capital Budget
Wednesday, May 23, 2007 The Board of Directors of EXCO Resources, Inc. has approved a revised 2007 capital spending budget of $502.9 million. This budget amount is approximately 24% more than the previously approved budget of $405.0 million.

Anadarko Sells Natural Gas Assets in Oklahoma and Texas
Friday, February 02, 2007 Anadarko Petroleum has agreed to sell its interests in certain natural gas properties in Oklahoma and Texas to EXCO Resources for $860 million. The sale is effective Jan. 1, 2007.

EXCO to Acquire North La. Gas Properties from Anadarko for $1.6B
Tuesday, December 26, 2006 EXCO Resources, Inc. on Tuesday announced an agreement to acquire producing oil and gas properties, acreage and other assets in the Vernon and Ansley Fields located in Jackson Parish, Louisiana from Anadarko Petroleum Corp.

EXCO to Sell DJ Basin Acreage for $132.5M
Tuesday, December 12, 2006 Petroleum Development Corporation and EXCO Resources, Inc. have entered into a definitive Purchase and Sale Agreement regarding a purchase of EXCO's producing properties and remaining undeveloped drilling locations in Wattenberg Field area, Colorado.

EXCO Resources Completes Acquisition of Winchester Energy
Tuesday, October 03, 2006 EXCO Resources has completed its acquisition of Winchester Energy Company, Ltd. and its affiliated entities from Progress Energy, Inc. for approximately $1.16 billion.

EXCO to Acquire Gas Producer for $1.2 Billion in Cash
Monday, July 24, 2006 EXCO Resources, Inc., through a wholly-owned subsidiary, on Monday announced an agreement to acquire Winchester Energy Co., Ltd. and its affiliated entities from Progress Energy, Inc. for $1.2 billion in cash, subject to purchase price adjustments.

EXCO Resources Acquires East Texas Cotton Valley Properties
Thursday, May 25, 2006 EXCO Resources has acquired certain producing and undeveloped oil and natural gas properties in the Cotton Valley trend in East Texas from a privately held company.

EXCO Resources Acquires West Texas Acreage
Thursday, April 06, 2006 EXCO Resources has closed the acquisition of a 50% interest in approximately 19,000 acres of leasehold interests and 38 producing wells in West Texas for $85.7 million from an undisclosed seller.

EXCO Resources to Sell Gulf Coast Oil and Gas Properties
Wednesday, July 14, 2004 EXCO Resources has exclusively retained Energy Spectrum Advisors Inc. to offer for sale certain operated oil and gas properties in Mississippi and Louisiana.