Exco To Buy Southwestern Shale Assets For $355M

Law360, New York (June 17, 2010, 1:20 PM EDT) -- Oil and natural gas exploration company Exco Resources Inc. has finalized an agreement to pay $355 million to Southwestern Energy Co. to increase its interest in several eastern Texas shale properties.

Dallas-based Exco reached a deal with Southwestern on June 11 to buy oil and gas leases in its Haynesville, Texas, and Bossier, Texas, shale properties, the company said in a Wednesday filing with the U.S. Securities and Exchange Commission.

The properties include wells, gathering equipment and producing rights to over 20,000 acres in three Texas...
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