By Dallas Business Journal

Exco Resources said Monday its board of directors has approved a buy-back of $200 million in common stock.

The oil and gas exploration company said it will pay for the offering using cash and borrowings under its existing debt facilities. The repurchases will be made on the open market.

Dallas-based Exco Resources (NYSE: XCO) operates primarily in East Texas, North Louisiana, Appalachia and West Texas.

Copyright 2010 American City Business Journals
Copyright 2010