EXCO Resources Inc (NYSE:XCO) Moves Up Smartly
EXCO Resources Inc (NYSE:XCO) announced that its Q3 results will be released on Tuesday, 29 October 2013, after the market close. The company will also host its conference call on 30 October 14, 2013 and the contents of the release will be discussed and questions will be answered.
In Friday’s trading, EXCO Resources Inc (NYSE:XCO) rose by 3.60%. The opening price of the shares was $6.69, which climbed to an intraday high of $7.09 and dipped to a close of $6.90. Approximately 3.47 million shares were traded on Friday while an average volume of 2.81 million shares were traded over a 30 day period. The 52-week low of EXCO Resources Inc (NYSE:XCO) shares is $5.97 and its 52-week high is $9.08. The company has a market capitalization of $1.50 billion.
About the company
EXCO Resources Inc (NYSE:XCO) is an independent O&G company. It is involved in exploring, exploiting, developing and producing oil & natural-gas properties in the U.S. The company focuses on shale resource plays. Its operations are conducted in various U.S O&G areas, including North Louisiana, East Texas, Permian Basin and Appalachia. In addition to these operations, the company owns 50 percent interests in 2 midstream joint-ventures that are located in North Louisiana /East Texas as well as Appalachia. In 2013 July, EXCO Resources Inc (NYSE:XCO) closed its previously-announced acquisition of producing & undeveloped O&G assets in the Haynesville shale-formation from the Chesapeake Energy Corporation subsidiaries. In 2013 July, it acquired Eagle Ford.
As of 31 December 2012, EXCO Resources Inc (NYSE:XCO)’s proved reserves were around 1 trillion cubic-feet equivalents, of these 92.7 percent were natural-gas and 96.3% were proved-developed reserves. The company’s shale-resource plays and midstream-operations are conducted via 4 joint-ventures with BG Group plc affiliates, which include North Louisiana/ East Texas JV, Appalachia JV, TGGT, and Appalachia Midstream JV