Exco Resources Closes North Louisiana Acquisition From Anadarko

Exco Resources Inc., Dallas, (NYSE: XCO) has closed the acquisition of producing properties, acreage and other assets in the Vernon and Ansley fields in Jackson Parish, La., from Anadarko Petroleum Corp., Houston, (NYSE: APC) for $1.5 billion in cash. The assets include 91.1% average working interest (70.2% average net revenue interest) in proved developed producing gas properties in 66,000 net acres in the Lower Cotton Valley formation, including 15,000 net undeveloped acres. Net production is approximately 190 million cubic feet of gas per day from approximately 350 producing wells (96% operated). Proved reserves are approximately 466 billion cubic feet equivalent, with 446 billion proved developed producing and 20 billion proved undeveloped. The acquisition also includes gathering systems and infrastructure.