Exco Extends Joint Venture with UK's BG Group to Appalachia

摘要

US independent EXCO Resources has extended its current joint venture with UK's BG Group in Texas and Louisiana to its Appalachian Basin holdings in a $950 million agreement. Under the deal, BG and EXCO will jointly control 654,000 net acres strung across Pennsylvania, Ohio, and West Virginia, of which 186,000 is prospective for Marcel-lus Shale development. The acreage currently produces 35 million cubic feet of natural gas equivalent per day, primarily from its shallower conventional reservoirs.