EXCO, Harbinger Form JV In Texas, Louisiana
February 15, 2013
EXCO Resources Inc. (NYSE: XCO) has closed its conventional oil and natural gas partnership with Harbinger Group Inc. (NYSE: HRG) effective February 14.
EXCO received net proceeds of US $573.3 million after preliminary closing adjustments. Proceeds were used to repay a portion of EXCO’s revolving credit facility. EXCO’s revolving credit facility now has a US $900 million borrowing base with US $541 million drawn.
The partnership holds conventional oil and natural gas assets previously owned by EXCO in West Texas, including and above the Canyon Sand formation, as well as ...
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