EXCO Resources, Inc. (NYSE: XCO) today announced that it has entered into an agreement granting a forty-five day exclusivity period to an unaffiliated private infrastructure fund to negotiate the sale of a one-third equity interest in TGGT Holdings, LLC. EXCO anticipates that an affiliate of BG Group plc will participate in the sale transaction on a pro rata basis. EXCO expects a purchase price in excess of $400.0 million for the equity interest. TGGT Holdings, LLC owns and operates midstream gathering and transportation assets in East Texas and North Louisiana and is a joint venture entity owned 50/50 by affiliates of EXCO Resources, Inc. and BG Group plc. There is no assurance that this or any other transaction involving TGGT Holdings, LLC will be completed. EXCO Resources, Inc. does not intend to update the market with any further information on this process unless and until a definitive agreement is entered into among the parties or further disclosure is otherwise deemed appropriate. EXCO Resources, Inc. is an oil and natural gas exploration, exploitation, development and production company headquartered in Dallas, Texas with principal operations in East Texas, North Louisiana, Appalachia, and West Texas. Additional information about EXCO Resources, Inc. may be obtained by contacting EXCO’s Chairman, Douglas H. Miller, or its President, Stephen F. Smith, at EXCO’s headquarters, 12377 Merit Drive, Suite 1700, Dallas, TX 75251, telephone number (214) 368-2084, or by visiting EXCO’s website at www.excoresources.com. EXCO’s SEC filings and press releases can be found under the Investor Relations tab. This release may contain forward-looking statements relating to future financial results, business expectations and business transactions. Business plans may change as circumstances warrant. Actual results may differ materially from those predicted as a result of factors over which we have no control.
More from Press Releases
NFL Pushes for Regulation Following Supreme Court's Sports Gambling Ruling
The Supreme Court rules that previous congressional action forbidding states from legalizing sports betting was unconstitutional.
Walmart CEO: 'We Are Transforming Globally' With Flipkart
On its investor call on Wednesday morning, Walmart discusses the Flipkart deal.
March 24 Full-Day Course Offering: Professional Approach to Trading SPX
OptionsProfits, the CBOE, and Option Pit are hosting a class on March 24 that covers a wide variety of methods to trade the S&P 500.