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Article: BG Group completes acquisition of interest in US shale gas alliance.
- Article from:
- M2 Presswire
- Article date:
- August 17, 2009
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M2 PRESSWIRE-17 August 2009-BG Group: BG Group completes acquisition of interest in US shale gas alliance(C)1994-2009 M2 COMMUNICATIONS
RDATE:14082009
BG Group has announced the closing of the upstream and midstream acquisitions as part of the previously announced alliance with EXCO Resources Inc. (NYSE:XCO).
After closing adjustments to make the economic effective date of the upstream acquisition and joint development operations 1 January 2009, consideration for the upstream portion of the alliance is US$1 127.0m. This consists of US$727.0m plus US$400m to be paid as a carry of 75% of EXCO's future costs to develop the Haynesville shale gas. ...