DALLAS--(BUSINESS WIRE)--Dec. 9, 2008--EXCO Resources, Inc. (NYSE: XCO) today announced the completion of the
Oden 30H#6 in DeSoto Parish, Louisiana, its first Haynesville horizontal
well completion. The Oden 30H#6 was drilled vertically to a depth of
12,304 feet in the pilot hole where 180 feet of whole core was recovered
in the Haynesville Shale. The horizontal target was selected, and the
well was plugged back and drilled with a 4,481 foot lateral to a total
measured depth of 16,083 feet. We completed the well with a nine stage
fracture stimulation treatment using 3.2 million pounds of proppant. The
well had an initial production rate of 22.9 million cubic feet of gas
per day (MMcf/d) on a 26/64th inch choke with 7,800 pounds
per square inch (psi) flowing casing pressure. The well has been flowing
to sales for the past five days and, in the last 24 hours, averaged 22.5
MMcf/d on a 26/64th inch choke and 7,800 psi flowing casing
pressure. EXCO owns a 100% working interest and a 75% net revenue
interest in the well.
EXCO owns a substantial acreage position in the core area of the
Haynesville play in North Louisiana and East Texas, much of which is
held by shallow production. We have drilled and completed several
vertical Haynesville tests and have identified productive Haynesville
shale across much of our acreage holdings. We have conducted a variety
of core and fluid studies from data acquired in our vertical well
program and have tested a combination of fluid types and fracture
stimulation designs. The results of those tests were instrumental in
developing the completion plan for our first horizontal well. EXCO has 2
operated horizontal wells, 1 vertical well and 2 outside operated
horizontal wells in progress in the Haynesville play. We plan to drill
25 or more horizontal Haynesville wells in 2009.
Douglas H. Miller, EXCO's Chairman, commented, "This well is the largest
single well in our Company's history and represents the first of many
horizontal drilling locations that we have in the Haynesville play."
EXCO Resources, Inc. is an oil and natural gas acquisition,
exploitation, development and production company headquartered in
Dallas, Texas with principal operations in Texas, Louisiana, Ohio,
Oklahoma, Pennsylvania and West Virginia.
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 http://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 EXCO has no control. Such factors include,
but are not limited to: acquisitions, recruiting and new business
solicitation efforts, estimates of reserves, commodity price changes,
the extent to which EXCO is successful in integrating recently acquired
businesses, regulatory changes and general economic conditions. These
risk factors and additional information are included in EXCO's reports
on file with the Securities and Exchange Commission. EXCO
undertakes no obligation to publicly update or revise any
forward-looking statements.
CONTACT: EXCO Resources, Inc.
Douglas H. Miller, Chairman
Stephen F. Smith, President
214-368-2084
http://www.excoresources.com
Source: EXCO Resources, Inc.
