One-Page Deal Sheet
EXCO and Harbinger Team Up to Exploit Conventional Resources in Texas and Louisiana
Harbinger Group Inc. Exco Resources Inc.
Announced Date
February 16,2013
Effective Date
February 14,2013
Close Date
February 14,2013
Transaction Type
JV
Enterprise Value (EV)($MM)
725
Asset/Basin:
{"West Texas (Permian conventional, above Canyon Sand)","East Texas Basin","North Louisiana (Ark-La-Tex)"}
TargetZones:
{"Canyon Sand","Cott
Net Acres
% Oil:
Location
Region
Ark-La-Tex
Country
United States
State
Texas
Play
Transaction Details: Subscribe to see
EXCO Resources, Inc. announced today that it closed its conventional oil and natural gas partnership with Harbinger Group Inc., effective February 14, 2013, and received net proceeds of $573.3 million, after preliminary closing adjustments. The cash proceeds received by EXCO were used to repay a portion of its revolving credit facility. EXCO’s revolving credit facility now has a $900 million borrowing base with $541 million drawn.
The Partnership holds conventional oil and natural gas assets previously owned by EXCO in West Texas, including and above the Canyon Sand formation, as well as in…
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