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 [...]

Anadarko Petroleum Corp. said Tuesday its fourth-quarter profit more than doubled from a year ago, lifted largely by the sale of its Canadian subsidiary.
The independent oil and gas producer earned $1.92 billion, or $4.13 per share, in the October-December period, up from $874 million, or $1.87 a share, a year earlier.
Revenue climbed to $3.18 billion [...]

Anadarko Petroleum Corp. said Friday it sold natural gas properties to Exco Resources Inc. for $860 million in cash as part of a plan to reduce debt associated with two major acquisitions last year.
According to the company, the proceeds push total income from recent asset sales to $9 billion since Anadarko closed its acquisitions of [...]

Petroleum Development Corporation announced that it has completed its previously announced purchase of EXCO Resources Inc.’s producing properties and remaining undeveloped drilling locations in the Wattenberg Field area of the DJ Basin, Colorado. The transaction included substantially all of EXCO’s assets in the area. The adjusted purchase price paid at closing was $132 million.
PDC will [...]

Oil and gas explorer Anadarko Petroleum Corp. enjoyed sizable profits this year, bolstered by higher gasoline prices and blockbuster acquisitions, but its stock lagged because of higher debt.
The Woodlands, Texas-based company, with a market capitalization of $20.07 billion, goes up against larger competitors like BP PLC, ConocoPhillips, and Exxon Mobil Corp. in the exploration, development, [...]

Progress Energy , an integrated energy company, announced that it has sold Winchester Energy and its associated natural gas businesses to a wholly owned subsidiary of Texas- based EXCO Resources Inc. for about $1.16 billion.
The company has announced in July that net proceeds from the sale will be used to reduce debt.
The sale includes Progress [...]