Encore Acquisition to buy properties from EXCO - Reuters

By
Viraj
on June 29, 2009 6:33 PM | | TrackBacks (0)
EAC.N ) said it would acquire oil and gasproperties in the mid-continent and East Texas from EXCOResources Inc ( XCO.N ) for $375 million in cash.

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The company said it would fund the acquisition partly fromits sale of properties in Rockies and Permian basin to oil andgas company Encore Energy Partners LP ( ENP.N ) for $190 million,and from borrowings under its credit facility. Separately, Encore Energy Partners said its acquisition ofproperties in Rockies and the Permian would be accretive to itsdistributable cash flow per unit.

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