EXCO Resources Announces Withdrawal of Master Limited Partnership Offering
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 (MLP) formed to hold a substantial portion of EXCO's mature producing oil and gas properties in the Appalachia, East Texas/North Louisiana, Mid-Continent and Permian Basin areas.
According to Douglas H. Miller, EXCO's Chairman and Chief Executive Officer, current market conditions do not support the completion of the offering in a manner that would result in the value enhancement to EXCO and its shareholders that was anticipated upon the initial filing of the registration statement.
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