EXCO Resources, Inc. Announces Acquisition of Marcellus Shale Properties for $459.4M
EXCO Resources, Inc. (NYSE: XCO) today announced the acquisition of properties prospective for the Marcellus shale from Chief Oil & Gas LLC and related parties for approximately $459.4 million, after preliminary purchase price adjustments at the closing.
The parties agreed to close the transaction into an escrow account pending receipt of a waiver from a third party, which is expected to be obtained by January 14, 2011. The transaction has an effective date of July 1, 2010.
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