DALLAS (AFX) - Oil and natural gas company EXCO Resources Inc. said Friday its second-quarter production volumes nearly doubled from the year-ago period, aided by acquisitions and drilling efforts.
The company said production volumes jumped to 124.2 million cubic feet equivalent per day, up 95.6 percent from the prior year. The volume represents a 9.4 percent increase from the first quarter.
Most of the sequential growth came from acquistisions, with about 16 percent coming from its own drilling and exploitation efforts, the company said in an operations report supplementing its second-quarter earnings.
EXCO Resources closed three acquisitions during the quarter for $252.3 million, adding 222.9 billion cubic feet equivalent of estimated proved reserves.
Shares closed up a penny at $12.36 on the New York Stock Exchange.
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