Harbinger, EXCO Form $725M Energy Exploration JV

Law360, New York (November 5, 2012, 1:46 PM EST) -- Holding company Harbinger Group Inc. and EXCO Resources Inc. have joined forces in a $725 million joint venture that will focus on conventional oil and gas exploration in the western U.S., betting on the return of higher natural gas prices, the companies announced Monday.

New York-based Harbinger will take the lead in the new venture, with a 75 percent limited partnership stake, funneling $372.5 million in cash and another $225 million worth of bank debt into the new company, according to a statement. In return, EXCO...
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