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Article: EXCO Resources, Inc. Reports Third Quarter 2009 Results.(Financial report)
- Article from:
- Business Wire
- Article date:
- November 3, 2009
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DALLAS -- EXCO Resources, Inc. (NYSE: XCO) today announced its third quarter 2009 results of operations. Highlights during the quarter include:
During the third quarter 2009, we closed divestiture transactions, including our joint venture transactions with BG Group, resulting in proceeds of approximately $1.4 billion. We used the proceeds to reduce debt by $1.4 billion, including full retirement of our $300 million Term Credit Agreement.
Our asset divestiture program continued during the third quarter 2009 as we entered into agreements to sell certain shallow assets located in Ohio and northwestern Pennsylvania and to sell the remaining assets in our ...