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.

This entry was posted by Miner on Saturday, May 17th, 2008 at 10:12 am and is filed under Oil and Gas. Tags: Company, Cotton Valley, drilling, EXCO Resources Inc., Gas, gas producer, Haynesville, Louisiana, Natural Gas, Oil, Resources, technology, Texas, Vernon. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.