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>>

  • City of Magnolia addresses overcrowded dog pound

    City of Magnolia addresses overcrowded dog pound

    Thursday, August 21 2014 11:40 PM EDT2014-08-22 03:40:39 GMT
    The quality of care for dogs in a city pound is at the center of controversy in Magnolia, Arkansas.
    The quality of care for dogs in a city pound is at the center of controversy in Magnolia, Arkansas.
  • Hope you make it: Local Boy Inspires Troops

    Hope you make it: Local Boy Inspires Troops

    Thursday, August 21 2014 10:49 PM EDT2014-08-22 02:49:33 GMT
    Hope you make it.  GavinHope you make it. Gavin
    The Military's search for one little boy ends in Shreveport.  Serious men with a serious mission, and a seriously great sense of humor. Airmen and soldiers serving in Afghanistan found laughter in difficult times, all courtesy of 4 little words in a letter from a school child – “Hope you make it. – Gavin” The troops wanted to meet the young man who inspired them so much.  We bring you that special meeting.  
  • Tropical update

    Tropical update

    Thursday, August 21 2014 10:35 PM EDT2014-08-22 02:35:10 GMT
    Invest 96 L StatsInvest 96 L Stats

     Here's the latest on Invest 96 L.

     Here's the latest on Invest 96 L.

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