Deals - Acquisition, Mergers, Divestitures | Capital Markets | Private Equity Activity
Exco & Venado Cancel $300 Million Eagle Ford Deal
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Today, Exco and Venado decided to end their purchase and sale agreement for Exco's Eagle Ford asset inked on April 10, 2017.
As you might remember, Exco sued Chesapeake & its oil and gas marketing arm after the company cancelled gathering contracts that resulted in Exco having to shut-in wells. Those shut-in materially affected the PSA between Exco and Venado. Amendments were also made to allow Exco to sign new gathering agreements, but it seems that did not happen.
Exco being unable to cure these changes, has decided to end the purchase and sales agreement with Venado.
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