Exco Resources (XCO +3.8%) announces a partnership with Philip Falcone's Harbinger Group (HRG...

|By:, SA News Editor

Exco Resources (XCO +3.8%) announces a partnership with Philip Falcone's Harbinger Group (HRG +2.7%) where XCO will contribute its conventional non-shale assets in east Texas and Louisiana and its shallow Canyon Sand and other assets in west Texas to a limited partnership. EXCO will $597M in cash, a 24.5% limited partner interest and a 50% interest in the general partner.