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...
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