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BRIEF-EXCO Resources units are parties to purchase, sale agreement with Vog Palo Verde
June 23, 2017 / 10:24 AM / 5 months ago

BRIEF-EXCO Resources units are parties to purchase, sale agreement with Vog Palo Verde

June 23 (Reuters) - EXCO Resources Inc:

* EXCO Resources Inc- co’s units are parties to a purchase and sale agreement with Vog Palo Verde LP, dated as of April 7, 2017

* EXCO Resources Inc -on May 31, Chesapeake Energy Marketing terminated long term transaction confirmation with expiration of June 30, 2032, between Chesapeake and Raider Marketing

* EXCO Resources Inc - as a result of alleged termination of contract, EOC was forced to shut-in certain wells beginning on June 1, 2017

* EXCO Resources Inc -due to contract termination, closing conditions were not anticipated to be satisfied or waived by original scheduled closing date

* EXCO Resources Inc says parties entered into first amendment, dated as of May 31, 2017, to extend original scheduled closing date for two weeks

* EXCO Resources Inc - on June 6, EXCO parties & raider filed a petition, application for temporary restraining order & injunction against Chesapeake in Dallas County, Texas

* EXCO Resources Inc - on June 9, 2017, district court denied EXCO parties and raider’s motion for temporary restraining order - SEC filing

* EXCO Resources Inc says on June 7, 2017, Chesapeake Energy Marketing filed to remove lawsuit to United States District Court Northern District Of Texas

* EXCO Resources Inc - lawsuit remains pending in federal court Source text: (bit.ly/2rYLsrd) Further company coverage:

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