DALLAS -- (Business Wire)
EXCO Resources, Inc. (NYSE:XCO) (“EXCO”) today closed the previously
announced sale of its 25.5% interest in Compass Production Partners, LP
and its 50% interest in Compass Production GP, LLC to an affiliate of
Harbinger Group, Inc. (NYSE: HRG) (“Harbinger”) for $118.75 million in
cash. The sale had an effective date of August 1, 2014.
EXCO’s cash proceeds were applied to reduce the balance on its revolving
commitment under EXCO’s Amended and Restated Credit Agreement (the “EXCO
Credit Agreement”). EXCO had $133.7 million of outstanding indebtedness
under the revolving commitment of the EXCO Credit Agreement following
the application of the cash proceeds.
EXCO Resources, Inc. is an oil and natural gas exploration,
exploitation, acquisition, development and production company
headquartered in Dallas, Texas with principal operations in Texas,
Louisiana and the Appalachia region.
Additional information about EXCO may be obtained by contacting Chris
Peracchi, Vice President of Finance and Investor Relations, and
Treasurer, at EXCO’s headquarters, 12377 Merit Drive, Suite 1700,
Dallas, TX 75251, telephone number (214) 368-2084, or by visiting EXCO’s
website at www.excoresources.com.
EXCO’s SEC filings and press releases can be found under the Investor
Relations tab.
Contacts:
EXCO Resources, Inc.
Chris Peracchi, 214-368-2084
Vice
President of Finance and Investor Relations, and Treasurer
www.excoresources.com
Source: EXCO Resources, Inc.
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