One-Page Deal Sheet
Exco Sells Permian Non-Op Position
Not Disclosed Exco Resources Inc.
Announced Date
February 28,2014
Effective Date
January 01,2014
Close Date
March 24,2014
Transaction Type
Property
Enterprise Value (EV)($MM)
68
Location
Calculated Metrics( EV/Category)
Region
Permian
Country
United States
State
Texas
County
Iron
Play
Calculated Metrics( EV/Category)
$/ Acre
Transaction Details: Subscribe to see
On February 13, 2014, we entered into a purchase and sale agreement to sell our non-operated interest in a joint venture in the Permian Basin for approximately $65 million, subject to customary purchase price adjustments and the receipt of certain third-party consents.
This sale includes our interest in producing wells and undeveloped acreage with horizontal drilling opportunities. The effective date of the transaction will be January 1, 2014 and is expected to close in the first half of 2014. We plan to use the proceeds to reduce indebtedness under the EXCO Resources Credit Agreement, which…
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