The Special Committee of Dallas-based Exco Resources Inc.'s board (NYSE: XCO) has retained financial advisors Barclays Capital Inc. and Evercore Partners to assist in evaluating and determining the company's response to the proposal made in October by Douglas H. Miller, chairman and chief executive, to purchase all of the outstanding shares of stock of the company for a cash purchase price of $20.50 per share ($4.4 billion).
The Special Committee cautions its shareholders and others considering trading in its securities that no decisions have been made with respect to the proposal. Moreover, there can be no assurance that any definitive offer will be made or accepted, that any agreement will be executed or that any transaction will be consummated.
Exco has oil and gas operations primarily in East Texas, North Louisiana, Appalachia and West Texas.
Continue reading about Exco's take-private proposal:
Recommended Reading
White House Open to Ending LNG Export Pause in Push for Ukraine Aid, Sources Say
2024-04-02 - Reversing the pause could be tolerable to the White House in order to advance Ukraine aid, in part because the pause has no bearing on near-term LNG exports, the White House sources said.
Global Oil Demand to Grow by 1.9 MMbbl/d in 2024, Says Wood Mac
2024-02-29 - Oil prices have found support this year from rising geopolitical tensions including attacks by the Iran-aligned Houthi group on Red Sea shipping.
Russia Orders Companies to Cut Oil Output to Meet OPEC+ Target
2024-03-25 - Russia plans to gradually ease the export cuts and focus on only reducing output.
Tinker Associates CEO on Why US Won’t Lead on Oil, Gas
2024-02-13 - The U.S. will not lead crude oil and natural gas production as the shale curve flattens, Tinker Energy Associates CEO Scott Tinker told Hart Energy on the sidelines of NAPE in Houston.
Commentary: Fact-checking an LNG Denier
2024-03-10 - Tampa, Florida, U.S. Rep. Kathy Castor blamed domestic natural gas producers for her constituents’ higher electricity bills in 2023. Here’s the truth, according to Hart Energy's Nissa Darbonne.