EXCO Resources (XCO) issued an operations update on its development activities in Louisiana and Texas where the company has properties that are prospective for the Haynesville Shale.
During the third quarter of 2010, on an operated basis, EXCO Resources spud 28 wells, and completed 23 wells using an average drilling rig fleet of 18 rigs. The company is currently running 21 rigs and plans to add one more rig by the end of 2010.
EXCO Resources development plans for 2010 includes 126 operated horizontal wells. The company averaged 43 days from spud to rig release in the third quarter of 2010.