EXCO Resources (XCO) is active in the Permian Basin and is working the Sugg Ranch Field, which is located mostly in Irion County, Texas. The company is developing the Canyon Sand at a depth from 6,700 to 7,900 feet.
EXCO Resources drilled 18 gross or 16.9 net wells into the Canyon Sand during the first quarter of 2011. The company is operating two rigs and plans to spend $48 million to drill 72 gross or 69.8 net wells in 2011 into this Permian Basin formation.
EXCO Resources reported net production from the Permian Basin of 22 million cubic feet of natural gas equivalents per day in the first quarter of 2011.
