DALLAS, Apr 22, 2010 (BUSINESS WIRE) –EXCO Resources, Inc. (NYSE: XCO) (“EXCO”) commented today on a well control event in Caddo Parish, Louisiana. EXCO encountered an unexpected gas flow in a well being drilled on April 18, 2010 at a depth of 1,533 feet, and control of the well was established with standard contingency measures. No injuries or damage to drilling equipment occurred. All appropriate state, federal and local officials were promptly notified of the event and have worked continuously with EXCO to ensure the safety of the public and the environment. The source of the unexpected gas flow is under evaluation, and plugging and abandonment procedures are underway.
An investigation into any water quality issues is ongoing by the Louisiana Department of Environmental Quality and the Louisiana Department of Health & Hospitals, with the cooperation and assistance of EXCO. As a precaution, homes in the immediate vicinity of the well were voluntarily evacuated. Testing is being conducted with the goal of returning the families to their homes as quickly as possible. EXCO is providing accommodations for the families and also providing for their living expenses.
EXCO’s Chief Operating Officer, Harold L. Hickey, commented: “Our focus in this situation has been the safety of the families, our employees and contractors in the immediate area. We are grateful for the patience and understanding of the families and pledge to get them back into their homes quickly and safely. We are also extremely grateful for all the help and cooperation of the Sheriff’s Department of Caddo Parish, the Louisiana State Police and all the local and state law enforcement and public safety officials, the Louisiana Department of Health & Hospitals, the Louisiana Department of Natural Resources, the Department of Homeland Security and the Department of Environmental Quality.”
EXCO Resources, Inc. is an oil and natural gas exploration, exploitation, development and production company, headquartered in Dallas, Texas with principal operations in East Texas, North Louisiana, Appalachia, and West Texas.
Inquiries concerning the contents of this release may be obtained by contacting EXCO’s President, Stephen F. Smith, or its Vice President and Chief Operating Officer, Harold L. Hickey, at EXCO’s headquarters, 12377 Merit Drive, Suite 1700, Dallas, TX 75251, telephone number (214) 368-2084.
SOURCE: EXCO Resources, Inc.
EXCO Resources, Inc.
Stephen F. Smith, 214-368-2084
President
or
Harold L. Hickey, 214-368-2084
Vice President and Chief Operating Officer