EXCO announced last week that they agreed to purchase Southwestern Energy’s Haynesville/Bossier Shale properties for $355 million. The assets include approximately 20,000 net acres and 9 producing wells. The producing wells are currently grossing more than 51 Mmcf/d, 17 Mmcf/d net, and the acreage should account for over 900 drilling locations in Shelby, San Augustine and Nacogdoches Counties. The following map shows the permits that Southwestern has filed in the play in the last 365 days.
Back in April EXCO joined BG Group in announcing a joint venture in the acquisition of Common Resources’ Haynesville/Bossier Shale assets and as a result of this agreement BG will also have the opportunity to buy 50% of the acquired Southwestern Energy assets. According to the press release the Southwestern Energy deal will double their working and net revenue interests in a lot of the acquired Common Resources acreage. Below is a map from EXCO’s latest investor presentation outlying their EXCO/BG joint venture area of mutual interest.
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