Exco Resources Inc. has retained The Oil & Gas Asset Clearinghouse Inc. to sell interests in Redland Field in Bossier and Webster parishes, Louisiana.
Exco Resources Inc. has retained The Oil & Gas Asset Clearinghouse Inc. to sell interests in Redland Field in Bossier and Webster parishes, Louisiana, in a negotiated transaction.
The package includes 100% working interest (75% to 80% net revenue interest) in 13,000 net acres with five producing wells from the Cotton Valley formation. Net production is 755,000 cubic feet equivalent. Cash flow in March was $51,900. Exco is operator. Upside exists, and drilling opportunities include multiple proved, probable and possible locations.
The data room opens June 17. The bid due date is July 15. The effective date is Jan. 1, 2009. Contact Linda Gero, 832-601-7655, lgero@ogclearinghouse.com.
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