EXCO Resources, Inc. Announces Agreement To Acquire Common Resources (4/21/2010)

 

DALLAS, Apr 21, 2010 (BUSINESS WIRE) --EXCO Resources, Inc. (NYSE:XCO) ("EXCO") today announced an agreement to purchase Common Resources, L.L.C. ("Common") jointly with BG Group plc (LSE: BG.L) ("BG Group") for approximately $446 million in cash, subject to customary purchase price adjustments. Common owns producing assets, gathering lines and acreage in Shelby, San Augustine and Nacogdoches Counties, TX. Common's Eagle Ford assets are not part of the acquisition. Before closing, Common will sell or otherwise distribute its Eagle Ford assets to a third party.

The assets include producing properties with more than 39 Mmcf per day of gross production (12 Mmcf per day net) from 7 producing wells and approximately 29,200 net acres prospective for the Haynesville and Bossier shales. EXCO has identified over 1,000 additional gross drilling locations. The acreage is well situated in what appears to be a highly productive area in the Shelby Trough. The Shelby Trough runs from the southeast corner of DeSoto Parish, LA through southern Shelby, northern San Augustine and eastern Nacogdoches Counties, TX. The Haynesville shale is located at depths between 11,500 and 14,500 feet on this acreage, with the majority at an average depth of about 13,000 feet. Industry results in the area have typically ranged from 12 to 15 Mmcf per day of initial production ("IP"), with one well having a reported IP of over 30 Mmcf per day. Common's last three Haynesville wells had IP rates of 16.7 to 21.2 Mmcf per day. The Bossier shale is located at depths between 11,000 and 14,000 feet on this acreage, with the majority at an average depth of about 12,500 feet. Industry results in the area have Bossier IP rates ranging from 9 to 21 Mmcf per day. Common has drilled and completed one Bossier well which had an IP of 11.3 Mmcf per day. Common has extensive 2D seismic data over the area as well as 136 miles of 3D seismic, with an additional 178 miles of 3D seismic to be shot between March and June 2010.

 

http://ir.excoresources.com/phoenix.zhtml?c=195412&p=irol-newsA...=

 

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Permalink Reply by DJG on April 21, 2010 at 11:05
Here are some Maps from Common Resources' site that show their interests:

http://www.common-resources.com/maps.html
Permalink Reply by DJG on April 21, 2010 at 11:15
Here's a listing of the wells that Common Resources is currently opperating in District 6 of East Texas:


Submitted 07/31/2008 Approved 08/18/2008 667993 419-31344 COMMON RESOURCES L.L.C. (169727) RED RIVER 877
1 SHELBY Vertical

Submitted 10/17/2008 Approved 10/22/2008 667993 419-31344 COMMON RESOURCES L.L.C. (169727) RED RIVER 877
1 SHELBY Horizontal

Submitted 10/23/2008 Approved 10/28/2008 673779 405-30246 COMMON RESOURCES L.L.C. (169727) RED RIVER 164
1 SAN AUGUSTINE Vertical

Submitted 01/14/2009 Approved 01/20/2009 673779 405-30246 COMMON RESOURCES L.L.C. (169727) RED RIVER 164
1 SAN AUGUSTINE Horizontal

Submitted 02/20/2009 Approved 02/24/2009 673779 405-30246 COMMON RESOURCES L.L.C. (169727) RED RIVER 164
1 SAN AUGUSTINE Horizontal

Submitted 12/19/2008 Approved 12/31/2008 676611 347-33012 COMMON RESOURCES L.L.C. (169727) JUSTIN
1 NACOGDOCHES Vertical

Submitted 02/02/2009 Approved 02/04/2009 678119 405-30257 COMMON RESOURCES L.L.C. (169727) RED RIVER - SMITH 98
1 SAN AUGUSTINE Horizontal

Submitted 04/01/2009 Approved 04/03/2009 680034 405-30269 COMMON RESOURCES L.L.C. (169727) RED RIVER 619
1 SAN AUGUSTINE Horizontal

Submitted 09/30/2009 Approved 10/01/2009 680034 405-30269 COMMON RESOURCES L.L.C. (169727) RED RIVER 619
1 SAN AUGUSTINE Horizontal

Submitted 06/15/2009 Approved 06/16/2009 682129 405-30283 COMMON RESOURCES L.L.C. (169727) RED RIVER 257
1 SAN AUGUSTINE Horizontal

Submitted 12/02/2009 Approved 12/08/2009 682129 405-30283 COMMON RESOURCES L.L.C. (169727) RED RIVER 257
1 SAN AUGUSTINE Horizontal

Submitted 06/16/2009 Approved 06/17/2009 682183 405-30284 COMMON RESOURCES L.L.C. (169727) BURROWS GAS UNIT
1H SAN AUGUSTINE Horizontal

Submitted 12/02/2009 Approved 12/08/2009 682183 405-30284 COMMON RESOURCES L.L.C. (169727) BURROWS GAS UNIT
1H SAN AUGUSTINE Horizontal

Submitted 09/10/2009 Approved 09/11/2009 684934 405-30297 COMMON RESOURCES L.L.C. (169727) RED RIVER 257 NO. 2
1 SAN AUGUSTINE Horizontal

Submitted 02/09/2010 Approved 02/22/2010 684934 405-30297 COMMON RESOURCES L.L.C. (169727) RED RIVER 257 NO. 2
1 SAN AUGUSTINE Horizontal

Submitted 10/29/2009 Approved 11/05/2009 686784 405-30303 COMMON RESOURCES L.L.C. (169727) RED RIVER 620
1 SAN AUGUSTINE Horizontal

Submitted 12/11/2009 Approved 12/17/2009 688583 405-30310 COMMON RESOURCES L.L.C. (169727) OWENS
1 SAN AUGUSTINE Horizontal

Submitted 12/14/2009 Approved 12/16/2009 688619 405-30312 COMMON RESOURCES L.L.C. (169727) RED RIVER 619 NO. 2
1 SAN AUGUSTINE Horizontal

Submitted 01/27/2010 Approved 01/28/2010 690403 419-31544 COMMON RESOURCES L.L.C. (169727) MORRISON
1H SHELBY Horizontal

Submitted 02/01/2010 Approved 02/04/2010 690613 405-30319 COMMON RESOURCES L.L.C. (169727) RED RIVER 35
1 SAN AUGUSTINE Horizontal

Submitted 03/11/2010 Approved 04/14/2010 692783 405-30333 COMMON RESOURCES L.L.C. (169727) RED RIVER 365
1 SAN AUGUSTINE Horizontal

Submitted 03/15/2010 Approved 03/17/2010 692927 347-33151 COMMON RESOURCES L.L.C. (169727) RED RIVER 589
1 NACOGDOCHES Vertical

Submitted 03/22/2010 692927 347-33151 COMMON RESOURCES L.L.C. (169727) RED RIVER 589
1 NACOGDOCHES Horizontal

Submitted 03/17/2010 Approved 03/19/2010 693092 405-30336 COMMON RESOURCES L.L.C. (169727) RED RIVER 620 NO. 2
1 SAN AUGUSTINE Horizontal

Submitted 03/25/2010 Approved 03/26/2010 693451 405-30337 COMMON RESOURCES L.L.C. (169727) RED RIVER 365-2
1 SAN AUGUSTINE Horizontal
Permalink Reply by DJG on April 21, 2010 at 11:18
Lease Name: BURROWS GAS UNIT, Lease No: 254569, Well No: 1H
Operator Name: COMMON RESOURCES L.L.C., Operator No: 169727
District 06
Lease Production and Disposition
Jan 1993 - Feb 2010

Date GW Gas (MCF) Condensate (BBL) Operator Name Operator No. Field Name Field No.
Production Disposition Production Disposition
Oct 2009 284,967 284,967 0 0 COMMON RESOURCES L.L.C. 169727 BOSSIERVILLE (BOSSIER SHALE) 10758500
Nov 2009 512,591 512,591 15 15
Dec 2009 325,249 325,249 0 0
Jan 2010 290,254 290,254 5 5 SOUTHWESTERN ENERGY PROD. CO. 806668 BOSSIERVILLE (BOSSIER SHALE) 10758500
Feb 2010 NO RPT NO RPT NO RPT NO RPT SOUTHWESTERN ENERGY PROD. CO. 806668 CARTHAGE (HAYNESVILLE SHALE) 16032300
Total 1,413,061 1,413,061 20 20

----------------
Lease Name: RED RIVER 164, Lease No: 253436, Well No: 1
Operator Name: COMMON RESOURCES L.L.C., Operator No: 169727
District 06
Lease Production and Disposition
Jan 1993 - Feb 2010

Date GW Gas (MCF) Condensate (BBL) Operator Name Operator No. Field Name Field No.
Production Disposition Production Disposition
May 2009 20,550 20,550 0 0 COMMON RESOURCES L.L.C. 169727 BOSSIERVILLE (BOSSIER SHALE) 10758500
Jun 2009 351,096 351,096 9 9
Jul 2009 248,189 248,189 0 0
Aug 2009 184,391 184,391 0 0 SOUTHWESTERN ENERGY PROD. CO. 806668 BOSSIERVILLE (BOSSIER SHALE) 10758500
Sep 2009 140,976 140,976 0 0
Oct 2009 119,396 119,396 0 0
Nov 2009 97,952 97,952 0 0
Dec 2009 83,419 83,419 1 1
Jan 2010 82,980 82,980 2 2
Feb 2010 NO RPT NO RPT NO RPT NO RPT SOUTHWESTERN ENERGY PROD. CO. 806668 CARTHAGE (HAYNESVILLE SHALE) 16032300
Total 1,328,949 1,328,949 12 12

---------------
Lease Name: RED RIVER 257, Lease No: 254917, Well No: 1
Operator Name: COMMON RESOURCES L.L.C., Operator No: 169727
District 06
Lease Production and Disposition
Jan 1993 - Feb 2010

Date GW Gas (MCF) Condensate (BBL) Operator Name Operator No. Field Name Field No.
Production Disposition Production Disposition
Nov 2009 114,676 114,676 0 0 COMMON RESOURCES L.L.C. 169727 BOSSIERVILLE (BOSSIER SHALE) 10758500
Dec 2009 434,259 434,259 0 0 COMMON RESOURCES L.L.C. 169727 CARTHAGE (HAYNESVILLE SHALE) 16032300
Jan 2010 209,594 209,594 0 0
Feb 2010 NO RPT NO RPT NO RPT NO RPT
Total 758,529 758,529 0 0
Permalink Reply by DJG on April 21, 2010 at 11:26
Lease Name: RED RIVER 619, Lease No: 253438, Well No: 1
Operator Name: COMMON RESOURCES L.L.C., Operator No: 169727
District 06
Lease Production and Disposition
Jan 1993 - Feb 2010

Date GW Gas (MCF) Condensate (BBL) Operator Name Operator No. Field Name Field No.
Production Disposition Production Disposition
Aug 2009 31,866 31,866 0 0 COMMON RESOURCES L.L.C. 169727 BOSSIERVILLE (BOSSIER SHALE) 10758500
Sep 2009 334,059 334,059 0 0
Oct 2009 385,122 385,122 0 0
Nov 2009 257,498 257,498 0 0 SOUTHWESTERN ENERGY PROD. CO. 806668 BOSSIERVILLE (BOSSIER SHALE) 10758500
Dec 2009 181,414 181,414 0 0
Jan 2010 150,781 150,781 0 0
Feb 2010 NO RPT NO RPT NO RPT NO RPT SOUTHWESTERN ENERGY PROD. CO. 806668 CARTHAGE (HAYNESVILLE SHALE) 16032300
Total 1,340,740 1,340,740 0 0

-------------
Lease Name: RED RIVER 877, Lease No: 246292, Well No: 1
Operator Name: COMMON RESOURCES L.L.C., Operator No: 169727
District 06
Lease Production and Disposition
Jan 1993 - Feb 2010

Date GW Gas (MCF) Condensate (BBL) Operator Name Operator No. Field Name Field No.
Production Disposition Production Disposition
Jan 2009 23,369 23,369 0 0 COMMON RESOURCES L.L.C. 169727 BOSSIERVILLE (BOSSIER SHALE) 10758500
Feb 2009 161,347 161,347 1 1
Mar 2009 107,175 107,175 0 0
Apr 2009 84,671 84,671 13 13
May 2009 74,125 74,125 0 0
Jun 2009 62,314 62,314 2 2
Jul 2009 44,420 44,420 0 0
Aug 2009 47,077 47,077 0 0 SOUTHWESTERN ENERGY PROD. CO. 806668 BOSSIERVILLE (BOSSIER SHALE) 10758500
Sep 2009 41,673 41,673 0 0
Oct 2009 39,241 39,241 0 0
Nov 2009 36,944 36,944 0 0
Dec 2009 32,634 32,634 0 0
Jan 2010 28,814 28,814 1 1
Feb 2010 NO RPT NO RPT NO RPT NO RPT SOUTHWESTERN ENERGY PROD. CO. 806668 CARTHAGE (HAYNESVILLE SHALE) 16032300
Total 783,804 783,804 17 17

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