Quantcast

EXCO spends $1B on Chesapeake Energy assets - KTBS.com - Shreveport, LA News, Weather and Sports

EXCO spends $1B on Chesapeake Energy assets

Posted: Updated:

EXCO Resources is spending about $1 billion to acquire assets from Chesapeake Energy in Texas and Louisiana.

The land provides EXCO both with producing fields and potentially lucrative drilling sites in the future.

Chesapeake Energy Corp., based in Oklahoma City, is selling approximately 55,000 net acres in Zavala, Dimmit, La Salle and Frio counties in Texas -- part of the Northern Eagle Ford Shale. There are 120 producing wells there.

It's also selling interests in about 9,600 net acres in Desoto and Caddo parishes in Louisiana, part of the Haynesville Shale. That includes non-operating interests in 170 EXCO operated wells and operating interests in 11 wells run by Chesapeake.

EXCO Resources Inc., of Dallas, said Wednesday that it expects to complete the acquisitions in July.

Section sponsored by:
  • KTBS 3 News Tips

    Send your news tip or story idea to the KTBS 3 Newsroom.  Enter your email address below to get started.

    * denotes required fields
    We're sorry, but only one entry is allowed per person.
    Thank you for your continued interest.

    Thank you for your submission to KTBS 3 News.  A member of our staff may contact you for more information.

  • Local NewsMore>>

  • Large power outage in Bossier Parish

    Large power outage in Bossier Parish

    Friday, July 25 2014 7:24 AM EDT2014-07-25 11:24:36 GMT
    Thousands of people from North Bossier to Benton are without power after a transmission line failed shortly after 9:00 Thursday night.
    Thousands of people from North Bossier to Benton are without power after a transmission line failed shortly after 9:00 Thursday night.
  • Helicopter Hog Hunting

    Helicopter Hog Hunting

    Friday, July 25 2014 7:15 AM EDT2014-07-25 11:15:01 GMT
    It's a problem that can cost local farmers thousands of dollars a year, the damage is being done by feral or wild hogs. They can do some serious damage, but now the State of Louisiana is trying to help in a way you may not have thought of.
    It's a problem that can cost local farmers thousands of dollars a year, the damage is being done by feral or wild hogs. They can do some serious damage, but now the State of Louisiana is trying to help in a way you may not have thought of.
  • Australia readies 90 police for Ukraine crash site

    Australia readies 90 police for Ukraine crash site

    Friday, July 25 2014 5:25 AM EDT2014-07-25 09:25:58 GMT
    Australia's prime minister says his country is close to finalizing a deal with Ukraine to send police and a small number of troops to secure the Malaysian plane crash site as part of a multinational team.
    Australia's prime minister says his country is close to finalizing a deal with Ukraine to send police and a small number of troops to secure the Malaysian plane crash site as part of a multinational team.
Powered by WorldNow
    Powered by WorldNow
    All content © Copyright 2000 - 2014 Worldnow and KTBS. All Rights Reserved. For more information on this site, please read our Privacy Policy and Terms of Service.
    Advertising | EEO Public File | KTBS 3 Public File | KPXJ 21 Public File