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.