exco resources inc (XCO) Key Developments
EXCO Resources, Inc. Announces Increase in Borrowing Base
Oct 22 14
EXCO Resources Inc. announced that the lenders under EXCO's Amended and Restated Credit Agreement completed their regular semi-annual redetermination of the borrowing base, resulting in an increase in the borrowing base from $875 million to $900 million.
EXCO Resources Seeks Acquisitions
Oct 11 14
EXCO Resources Inc. (NYSE:XCO) is seeking acquisitions. EXCO Resources Inc. (NYSE:XCO) said it may acquire properties owned by its next Chief Executive Officer a day after a board member said the oil and natural gas producer has been approached by buyers. Exco hasn’t yet chosen a new Chief Executive Officer and is in “various stages of discussions with candidates,” EXCO said in a statement on October 11, 2014. Exco board member T. Boone Pickens said on October 10, 2014 that EXCO has drawn interest from buyers. He refused to identify the companies. Exco didn’t respond to voicemails seeking comment, reported Bloomberg.
EXCO Seeks Acquisitions
Oct 10 14
EXCO Resources Inc. (NYSE:XCO) will consider acquisitions. EXCO Resources is continuing its search for a new Chief Executive Officer. EXCO is currently in various stages of discussions with candidates. In connection with such search, EXCO may consider acquiring oil and gas entities or properties owned by or affiliated with the candidate who is ultimately selected.
EXCO Resources, Inc. Declares Quarterly Cash Dividend, Payable on September 30, 2014
Sep 11 14
EXCO Resources Inc. announced that its Board of Directors declared a third quarter cash dividend of $0.05 per share. The dividend is payable on September 30, 2014 to holders of record on September 22, 2014.
EXCO Resources, Inc. Announces Executive Changes, Effective September 19, 2014
Aug 11 14
EXCO Resources Inc. announced that, effective September 19, 2014, Richard A. Burnett will begin serving as EXCO's Chief Financial Officer following the departure of Mark F. Mulhern, EXCO's current Chief Financial Officer. Mr. Mulhern is leaving EXCO to return to his primary residence in Raleigh, North Carolina and to become a senior executive at a local real estate investment trust. Mr. Burnett joined EXCO in November 2013 and currently serves as EXCO's Vice President and Chief Accounting Officer.