Oklahoma: Exco's output runing hard
Exco says output rose at a triple-digit rate
Dallas-based explorer Exco Resources said natural gas production soared at a triple-digit rate to 355 million of cubic feet equivalent per day in the second quarter of 2007 from a year earlier.
Oil production jumped to 4660 barrels per day from the same three months a year ago, the company said.
The company said its gross productive well count rose to about 10,300 wells in the three-month period from about 7900 wells a year earlier.
Last May, the company said it would acquire some 1327 producing wells and associated assets in Oklahoma and Texas from Anadarko Petroleum for a net cash price of $745 million.
Meanwhile, proved reserves remain in the range of 2 trillion cubic feet equivalent, the company said.
“We continue to implement our & strategy of acquiring long-lived natural gas and oil reserves and actively drilling to develop upside opportunities,” the company said.