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.
For comments and feedback contact: editorial@rttnews.com
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.