EXCO Resources Inc. Declares Cash Dividend, Payable on December 16, 2013; Announces Executive Changes
November 21, 2013 at 02:14 pm
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EXCO Resources Inc. announced that the board has declared a cash dividend of $0.05 per share, payable on December 16, 2013 to holders of record on December 2, 2013.
The company also reported that Douglas H. Miller has resigned from his positions as chairman of the Board and chief executive officer as well as from Board of Directors effective as of Nov. 20, 2013. The board has appointed Jeffrey D. Benjamin, a long-time investor in the company and an independent member of board, to serve as non-executive chairman. Mr. Benjamin is also currently a director of Caesars Entertainment Corporation, Chemtura Corporation and Chairman of the Board of Spectrum Group International Inc.
EXCO Resources, Inc. is an independent oil and natural gas company. The Company is engaged in the exploration, exploitation, acquisition, development and production of onshore United States oil and natural gas properties with a focus on shale resource plays. Its principal operations are conducted in certain United States oil and natural gas areas, including Texas, Louisiana, and the Appalachia region. Its producing regions include East Texas and North Louisiana, South Texas, and Appalachia. The East Texas and North Louisiana regions are primarily comprised of its Haynesville and Bossier shale assets. It serves as the operator for most of its properties in the East Texas and North Louisiana regions. The South Texas region is primarily comprised of its Eagle Ford shale assets. Its position in this region includes approximately 48,500 net acres. It serves as the operator for most of its properties in the South Texas region. The Appalachia region is comprised of its Marcellus shale assets.
EXCO RESOURCES, INC. 