EXCO Resources, Inc. (XCO) announced the closing of the sale of all of its remaining Mid-Continent oil and natural gas assets to Sheridan Holding Co.I, LLC., effective October 1. Total proceeds received at the closing were $530.2 million, subject to customary post-closing adjustments. The proceeds from the sale were used to repay a portion of EXCO's revolving credit facility.
As of September 30, 2009, the properties included estimated proved reserves of 4.6 million barrels of oil and 207.7 billion cubic feet of natural gas, or 235.3 billion cubic feet of natural gas equivalent, based on the Securities and Exchange Commission or SEC pricing. Current net production includes 979 barrels of oil per day and 39.2 million cubic feet per day of natural gas, or 45.1 million cubic feet of natural gas equivalent per day.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.