Exco Resources to sell south Texas oil and gas properties for $300M

|By:, SA News Editor

Exco Resources (NYSE:XCO) +19.3% premarket after agreeing to sell its oil and natural gas properties in south Texas for $300M to Venado Oil & Gas.

XCO says the properties produced ~4,100 boe/day (~90% oil) during December 2016.

XCO says it plans to focus on drilling and development of its core Haynesville and Bossier shale assets in north Louisiana and east Texas.