Scandinavian Oil-Gas Magazine
http://www.scandoil.com/moxie-bm2/news/exco-resources-closes-sale-of-interests-in-compass.shtmlEXCO Resources closes sale of interests in Compass Production Partners
EXCO Resources, Inc. has closed the previously announced sale of its 25.5% interest in Compass Production Partners, LP and its 50% interest in Compass
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EXCO Resources, Inc. has closed the previously announced sale of its 25.5% interest in Compass Production Partners, LP and its 50% interest in Compass Production GP, LLC to an affiliate of Harbinger Group, Inc. for $118.75 million in cash. The sale had an effective date of August 1, 2014.
EXCO's cash proceeds were applied to reduce the balance on its revolving commitment under EXCO's Amended and Restated Credit Agreement (the 'EXCO Credit Agreement'). EXCO had $133.7 million of outstanding indebtedness under the revolving commitment of the EXCO Credit Agreement following the application of the cash proceeds.
