EXCO LEAVES EAGLE FORD FOR E TX HAYNESVILLE/BOSSIER
EXCO Shuts Down South Texas Drilling, Reduces Debt
Charlie Passut October 30, 2015 naturalgasintel.com
EXCO Resources Inc. said it has shut down its drilling program in the Eagle Ford Shale in South Texas due to low commodity prices and plans to divert the remainder of its capital expenditures (capex) to East Texas, in the Haynesville/Bossier Shale, where returns are expected to be above 25%.
“As a result of continued depressed oil prices, EXCO has suspended its development program in the South Texas region for the remainder of 2015. The Company’s acreage in the South Texas region is approximately 81% held-by-production, which allows EXCO flexibility in the timing of development of this region.”
Link to full article: http://www.naturalgasintel.com/articles/104191-exco-shuts-down-sout...
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Replies to This Discussion
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Permalink Reply by Skip Peel - Mineral Consultant on
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What do you make of the "above 25%' ROI statement? Unless there are beneficial hedges in place that doesn't sound possible.
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Permalink Reply by benny on
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I believe in Santa Claus, the Tooth Fairy and 25% ROI on $2 Nat Gas .............
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Permalink Reply by Two Dogs, Pirate on
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Jay is a very worthwhile contributor to gohaynesville. What have you contributed to this site Fenlon? Two sentences of crap.
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Permalink Reply by Ken Marx on
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EXCO got into the Eagle Ford late and acquired mostly ram pasture barely in the oil window.
Their geologist (or whoever got them in the play) needs to be spanked. Maybe they were betting on a quick turnover and got caught in the downturn.
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Permalink Reply by tc on
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Their CEO and CFO also needed, and were I think, let go. To finance the Eagle Ford deal they got in bed with KKR and the sharks their ate EXCO's lunch.
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Permalink Reply by kittycatmama on -
Exco still has sections leased in the Grand Cane area (Desoto Parish) (including one I am in) that have just one well per section. They drilled CULs in sections they had adjacent to Highway 175 and their gas plant, but then didn't move west back toward east Texas. I am wondering when they say they will drill the east Texas Haynesville if that will include their leases in western Desoto
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