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EXCO Resources, Inc.
XCO (“EXCO”) today 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.
EXCO Resources, Inc. is an oil and natural gas exploration, exploitation,
development and production company headquartered in Dallas, Texas with
principal operations in East Texas, North Louisiana, Appalachia, and West
Texas.
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