Echo Satellite Communications, Inc. announced that it has entered into a letter of intent to acquire the assets of Houston, Texas-based Xeric Oil & Gas Corp. (“Xeric”). The transaction gives ECSC working interests in more than 200 productive oil, natural gas and water disposal well properties located in Montana, New Mexico and Wyoming. ECSC will continue to operate its satellite communications and remote video surveillance businesses.
“We have been searching for an opportunity to join with an aggressive, forward-thinking public company,” said Ron St. John, Xeric’s President and Chief Executive Officer.
“We anticipate ECSC will provide us with resources and capabilities to enhance and optimize our present hydrocarbon production capability,” he continued, “and the ECSC leadership team will play an instrumental role in the organization and growth of our oil and natural gas origination opportunities. We look forward to closing, combining our teams and delivering quality energy, communications, and surveillance solutions to our stakeholders.”
Echo Satellite Communications
Known for its ability to design, implement and commercialize satellite communications technology solutions, ECSC has a full array of wireless, non-line-of-sight communications solutions to offer to military, governmental, first responder, and industrial users for whom communication is not optional, it is critical. For more information, please visit www.echosatcom.com