EXCO Resources Completes Purchase of Oil and Gas Assets

Strategic Insights -

EXCO Resources, Inc. announced the completion of its purchase of certain oil and gas assets in Natchitoches Parish, Louisiana from Western Gas Resources, Inc. The assets include the Black Lake Unit and the Black Lake processing and treating facilities. The purchase price of $7.8 million was paid in cash, with $7.2 million remaining after contractual adjustments. EXCO took over operations on January 7, 2000, and the assets are now a part of the company's growing portfolio in Texas and Louisiana.

Key Takeaways:

  • EXCO Resources, Inc. completed the purchase of oil and gas assets in Natchitoches Parish, Louisiana from Western Gas Resources, Inc. for $7.8 million.
  • The assets include the Black Lake Unit and the Black Lake processing and treating facilities, which are now under EXCO's operations.
  • The purchase price was $7.2 million after contractual adjustments, paid in cash from existing working capital.
  • EXCO took over operations on January 7, 2000, marking the addition of the assets to the company's portfolio.
  • EXCO Resources, Inc. is an oil and gas acquisition, exploitation, development, and production company headquartered in Dallas, Texas.
  • The company's stock is traded on the Nasdaq NMS under the symbol EXCO.
  • The Company's President, Ted Eubank, can be contacted for additional information at EXCO's headquarters.

Statistics:

  • Purchase price: $7.8 million
  • Purchase price after contractual adjustments: $7.2 million
  • Date of operation takeover: January 7, 2000
  • Location of assets: Natchitoches Parish, Louisiana
  • Location of EXCO's headquarters: Dallas, Texas
  • Principal operations: Texas and Louisiana
  • Trading symbol: EXCO

Sources:

  • "EXCO Resources, Inc. Completes Oil and Gas Asset Purchase" - PRNewswire, Jan. 11