EXCO Resources (XCO) Provides 2012 Capital Budget
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The Board of Directors of EXCO Resources, Inc. (NYSE: XCO) has approved a capital budget of $710 million for 2012 of which $585 million is allocated to development and completion activities. This capital budget reflects a continued increase in our Marcellus shale activities and a decrease in our Haynesville shale activities to a level we believe is appropriate in light of the current natural gas price environment.
We plan to spend a total of $469 million targeting the Haynesville and Bossier shales, of which $453 million will be spent for drilling and completion costs, $10 million for lease acquisitions, $6 million for operations projects and seismic data acquisition.
We plan to spend a total of $469 million targeting the Haynesville and Bossier shales, of which $453 million will be spent for drilling and completion costs, $10 million for lease acquisitions, $6 million for operations projects and seismic data acquisition.
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