Exco Resources Sells Mid-Continent and East Texas Assets

Exco Resources Inc. reaches $375 million agreement with Encore Operating LP, to sell selected assets.
The properties, spread across Oklahoma, Kansas and the Texas Panhandle, include
the Norge Marchand Unit in Grady County and its Gladewater Field and Overton Field assets in Gregg, Upshur and Smith Counties, Texas.
As of Dec. 31, the properties include estimated proved reserves of 4.7 million barrels of oil and 148 billion cubic feet of natural gas, or 176 billion cubic feet of natural gas equivalent, based on year-end SEC pricing.
Current net production includes 1,223 barrels of oil per day and 26.9 million cubic feet per day of natural gas, or 34.1 million cubic feet of natural gas equivalent per day. The sale includes approximately 66,700 net acres, of which approximately 7,000 acres are undeveloped, and also includes gathering systems and compression attributable to certain of the assets.
The sale is expected to close in August.

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