By Dallas Business Journal

Exco Resources Inc. says it and a partner have closed on their purchases of oil and gas properties in Shelby, San Augustine and Nacogdoches counties in East Texas.

Dallas-based Exco (NYSE: XCO) and BG Group plc (LSE: BG) paid Houston-based Southwestern Energy Co. (NYSE: SWN) $355.8 million for the properties in the Haynesville and Bossier shales.

Exco paid $177.9 million for its portion of the deal. In April, Exco and England-based BG Group (formerly known as British Gas) worked together to acquire oil and gas properties in East Texas and Northern Louisiana from Common Resources LLC.

The properties acquired from Southwestern Energy are working interests that Southwestern had in some of the properties the pair bought from Common.

Exco drills for oil and gas in Texas, Louisiana and Appalachia.

Copyright 2010 American City Business Journals
Copyright 2010