EXCO Resources and BG Group announced last week that they plan to jointly purchase Common Resources, 50/50, for approximately $446 million. The sale includes assets in Shelby, San Augustine and Nacogdoches Counties in Texas which amounts to 39 MMcf/d net from 7 wells and roughly 29,200 net acres in the Haynesville and Bossier plays. Interestingly enough, Common’s Eagle Ford assets are not included in the deal. The idea is that Common will sell or distribute their Eagle Ford assets to a third party before the close of the sale. So far Common’s Eagle Ford efforts have been fairly successful and with their acreage in an active part of the play, they should have no problem unloading the assets. Petrohawk, Swift or Lewis Energy may be good candidates if they choose to sell to an operator in the neighborhood.
To learn more, visit the Haynesville A&D Folder and the Eagle Ford Folder in DNA’s Unconventional Updates. To get the entire Eagle Ford presentation that includes the above slide visit DrillingInfo’s Energy Strategy Partners website in the coming weeks.
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