One-Page Deal Sheet
EXCO Resources To Acquire Cotton Valley Gas Producer for $1.2 Billion
Exco Resources Inc. Winchester Energy Co., Ltd.
Announced Date
July 24,2006
Close Date
October 02,2006
Transaction Type
Corporate
Enterprise Value (EV)($MM)
1200
Asset/Basin:
{"Cotton Valley (East Texas/North Louisiana)"}
TargetZones:
{"Cotton Valley",Hos
Net Acres
Transaction Details: Subscribe to see
EXCO Resources, Inc., through a wholly-owned subsidiary, on Monday announced an agreement to acquire Winchester Energy Co., Ltd. and its affiliated entities from Progress Energy, Inc. for $1.2 billion in cash, subject to purchase price adjustments.
This acquisition consists of producing and undeveloped natural gas properties with current production of approximately 75 Mmcfe per day from 588 producing wells of which 89% are operated. The average acquired working interest is 87% with an average 68% net revenue interest. The properties are located in the Cotton Valley, Hosston and Travis Peak…
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