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Texas has old, new candidates to offer as presidential hopefuls

The Republican Party has long been riven between its establishment and conservative wings, a split that plays out every four years in the race for the White House.

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Two from Fort Worth appointed by Gov. Abbott to university boards

Steve Hicks, a University of Texas System regent who has been a vocal opponent of regents who have criticized the system’s flagship campus in Austin, was reappointed to the board by Gov. Greg Abbott on Thursday. 

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Fort Worth draws closer to deal with Lancaster developer

City staff are planning to introduce the developer Feb. 3 at a meeting of the City Council's Housing and Economic Development Committee.

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Compass BBVA names Happel CEO for Fort Worth

BBVA Compass has appointed Brian Happel, most recently the Fort Worth city president, its chief executive officer of Fort Worth.

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Two Fort Worth Baylor medical properties acquired

Baylor Surgical Hospital of Fort Worth and Baylor Surgical Hospital Integrated Medical Facility are among three facilities acquired by Carter Validus Mission Critical REIT II Inc.

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EXCO spends $1B on Chesapeake Energy assets
 
 
OKLAHOMA CITY (AP) — EXCO Resources Inc. of Dallas is spending about $1 billion to acquire assets from Chesapeake Energy Corp. in Texas and Louisiana.
The land provides EXCO with producing fields and potentially lucrative drilling sites in the future.
For Chesapeake, it's another step toward improving its cash position after the company was rattled by a plunge in natural gas prices. The Oklahoma City firm, which helped pioneer some of the techniques that tilted the energy landscape for the U.S., has been dumping assets to raise cash and diversify.
After building a hefty debt burden from rapid growth, Chesapeake has said it intends to sell $4 billion to $7 billion in assets this year.
"Today's announcement brings our year-to-date asset sales signed or closed to approximately $3.6 billion, which, combined with forecasted net operating cash flow, enables Chesapeake to fully fund its 2013 capital expenditure budget," said CEO Doug Lawler.
"Additional asset sales contemplated for later this year may reduce long-term debt and further enhance our financial liquidity," Lawler said.
Chesapeake is selling about 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.
It's also selling interests in about 9,600 net acres in Desoto and Caddo parishes in Louisiana, part of the Haynesville Shale. That includes non-operating interests in 170 EXCO operated wells and operating interests in 11 wells run by Chesapeake.
Chesapeake said that it will receive about 90 percent of the proceeds from the sale at closing.
EXCO Resources Inc. of Dallas, said Wednesday that it expects to complete the acquisitions in July.
 
 

 

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