EXCO Resources (XCO) issued an operations update on its development activities in Pennsylvania where the company has properties that are prospective for the Marcellus Shale.
EXCO Resources is currently operating two rigs in the central part of the state, and drilled six horizontal wells during the third quarter of 2010. The company is operating on a multi well pad system and drilled three wells per pad. EXCO Resources used laterals ranging in length from 4200 to 5700 feet, and has completed three of the six wells.
EXCO Resources plans to drill and complete ten gross wells into the Marcellus Shale in 2010 and will exit the year with three operated rigs.