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EXCO Targets East and South Texas With 2015 Budget
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EXCO Resources has reported its 2015 capital budget.
Our Board of Directors has approved a 2015 capital budget of up to $275 million. The capital budget includes approximately $215 million allocated to development and completion activities. Our budget was designed to allocate capital to projects that:
produce attractive returns in the current commodity price environment; add proved reserves to our portfolio; and maintain high value acreage positions.Our capital budget will allow us to preserve our liquidity and capital resources in preparation for future growth as we expect 2105 Adjusted EBITDA to be approximately equivalent to our capital budget. We have reduced our drilling activity in South Texas and plan to focus our development on natural gas production in the Haynesville and…
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