Exco Resources Inc., Dallas, (NYSE: XCO) plans to acquire producing properties and other assets in multiple fields in the Midcontinent, South Texas, Texas Gulf Coast and Oklahoma from Anadarko Petroleum Corp., The Woodlands, Texas, (NYSE: APC) for $860 million in cash. The assets include a 75% average working interest (59% average net revenue interest) in properties on 290,000 net acres in the Golden Trend, Watonga-Chickasha, Mocane-Laverne and Reydon areas in Oklahoma, and the Felicia, Speaks and Cage Ranch areas of South Texas. Net production is approximately 103 million cubic feet of gas equivalent per day from approximately 1,327 producing wells, with the majority of wells in the Midcontinent area. Proved reserves are more than 400 billion cubic feet equivalent (87% gas, 72% proved-developed), with 76% in the Midcontinent.
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