DALLAS, Dec. 12 /PRNewswire-FirstCall/ -- EXCO Resources, Inc. today announced that it has entered into a definitive Purchase and Sale Agreement regarding the sale of EXCO's producing properties and remaining undeveloped drilling locations in the Wattenberg Field area of the DJ Basin, Colorado. The transaction, if consummated, would include substantially all of EXCO's assets in the area. The purchase price is $132.5 million. The anticipated closing date for the transaction is January 4, 2007. The Purchase and Sale Agreement contains provisions and terms customary for a transaction of this type and size, including conditions adjusting the purchase price, adjustment to the schedule of assets acquired and terms under which either party may terminate the agreement.
EXCO Resources, Inc. is an oil and natural gas acquisition, exploitation, development and production company headquartered in Dallas, Texas with principal operations in Texas, Colorado, Louisiana, Ohio, Oklahoma, Pennsylvania and West Virginia.
Additional information about EXCO Resources, Inc. may be obtained by contacting EXCO's Chairman, Douglas H. Miller, or its President, Stephen F. Smith, at EXCO's headquarters, 12377 Merit Drive, Suite 1700, Dallas, TX 75251, telephone number (214) 368-2084, or by visiting EXCO's website at http://www.excoresources.com/ . EXCO's SEC filings and press releases can be found under the Investor Relations tab.
This release may contain forward-looking statements relating to future financial results or business expectations. Business plans may change as circumstances warrant. Actual results may differ materially from those predicted as a result of factors over which EXCO has no control. Such factors include, but are not limited to: acquisitions, recruiting and new business solicitation efforts, estimates of reserves, commodity price changes, the extent to which EXCO is successful in integrating recently acquired businesses, regulatory changes and general economic conditions. These risk factors and additional information are included in EXCO's reports on file with the Securities and Exchange Commission.
