EXCO Resources to repay revolver using Compass sale proceeds

By Tali Rackner

Norfolk, Va., Oct. 7 – EXCO Resources, Inc. plans to reduce the revolving commitment under its amended and restated credit agreement with the proceeds from the sale of its 25% interest in Compass Production Partners, LP and its 50% interest in Compass Production GP, LLC, according to a press release.

As of Sept. 30, EXCO had $222.5 million of outstanding debt under the revolving commitment of the agreement.

Upon the closing of the sale, EXCO will have received cash consideration of $701.8 million from the sale of non-core assets and the rights offering of its common stock since Sept. 30, 2013.

EXCO is a Dallas-based oil and natural gas company.

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