A picture of a natural gas extraction site in the shadow of a setting sun.
Chesapeake Energy

EXCO Resources is spending about $1 billion to acquire assets from Chesapeake Energy in Texas and Louisiana. 

The land provides EXCO both with producing fields and potentially lucrative drilling sites in the future.

Chesapeake Energy Corp., based in Oklahoma City, is selling approximately 55,000 net acres in Zavala, Dimmit, La Salle and Frio counties in Texas — part of the Northern Eagle Ford Shale. There are 120 producing wells there.