Exco, BG Group Strike $249M Midstream Asset Deal

Law360, New York (August 10, 2009, 3:55 PM EDT) -- Exco Resources Inc. and natural gas company BG Group PLC have struck a definitive agreement for the joint development and operation of Exco's midstream assets in east Texas and northern Louisiana, under which BG Group will pay Exco $249 million for a 50 percent stake in a new company that will hold those assets.

Dallas-based oil and gas exploration and production company Exco Resources also said that the midstream agreement satisfied a closing condition to another transaction with U.K.-based BG Group that was announced on June...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.