Exco Boosts Its Capital Budget
Oil and natural-gas producer Exco Resources Inc.’s board approved a $123 million increase in its 2008 capital budget, to $923 million.
The increase includes $90 million for the more drilling in the company’s Haynesville Shale position in Louisiana, $30 million for additional drilling in its Vernon Field in Louisiana, $2 million for additional Cotton Valley drilling in Texas and $1 million for information-technology initiatives, Exco said.
