Thursday, May 20, 2010

Exco-BG-Common Resources Deal Closed

Exco Resources announced last week that it had closed the acquisition (with BG Group) of Common Resources for somewhere between $441 million and $446 million (closing adjustments probably moved the final number). 

The missing piece of the puzzle was the sale of Common's Eagle Ford Shale assets, upon which the closing of the Exco deal was predicated.  News comes today that Canadian E&P company Talisman Energy purchased these assets for $359 million.  Talisman is better known as an international player, but the company has existing positions in the Marcellus and Eagle Ford plays. 

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