Tuesday, June 23, 2009

EXCO To Open Haynesville Shale Field Office

Exco to open Haynesville Shale office

Dallas Business Journal (source)

Dallas-based oil and natural gas company Exco Resources Inc. (NYSE: XCO) will officially open a new field office in the Haynesville Shale on Friday and will break ground on a new Haynesville Shale gas gathering and treating facility in Louisiana to accommodate all of the work the company is doing in the gas-rich shale.

The new field office is in Grand Cane, La., about 30 miles south of Shreveport.

Exco Resources has nine horizontal wells and eight vertical wells drilled and completed in the Haynesville shale play, the company said Tuesday. Exco intends to complete 21 more horizontal wells by the end of this year.

“We are very excited about the success we have achieved in the Haynesville Shale and have committed over two-thirds of our 2009 drilling and completion budget to continue developing the 85,000 net acres we have in the play,” said Doug Miller, chairman and CEO of EXCO Resources. “In addition to our production and development plans, we are committed to spend over $100 million in 2009 on our midstream business to add treating capability and throughput capacity in excess of 500 million cubic feet of natural gas per day by early 2010 in our Haynesville shale area.”

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