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XTO ENERGY Fort Worth, Texas; Driller Takes The Middle Road To Success.(THE NEW AMERICA)
Byline: ALAN R. ELLIOTT
Forecasts for oil prices range from $25 to $105 a barrel. The future of natural gas looks equally unruly.
Some gas and oil firms are hedging their bets, bracing for either extreme. Others are committing to what they see as the most likely future.
XTO Energy has steered a steady course for nearly a decade, balancing growth between drilling new wells and acquiring gas-based properties.
"Of the 40 to 45 billion cubic feet of gas produced per day in the U.S., there are about 10 billion cubic feet per day that apply to our (acquisition) model," said Gary Simpson, XTO's head of investor relations and finance. "If we could get our hands on that, there is a lot we could do to discover new reserves and provide new production."
XTO has holdings in nine states spread from Texas to Colorado. It also has a site at Cook Inlet, Alaska.
In the past 15 months, the company has expanded its holdings through $2.5 billion in leases for new gas properties. It's spending another $935 million this year to drill new or rework existing wells.
- XTO TO GAIN 786 BCFE OF CHEVRONTEXACO LEGACY ASSETS.
- News wire article from: The America's Intelligence Wire May 24, 2004 700+ words
...47 per thousand cubic feet (Mcf). XTO will operate 67...In East Texas, XTO will gain 102 billion cubic feet equivalent (Bcfe...about 12 million cubic feet equivalent per day. * In South Texas, XTO will gain 54 Bcfe...
- XTO grabs another $2.1 billion in properties.(XTO Energy Inc.)
- Newspaper article from: The Oil Daily Gosmano, Jeff July 23, 2008 700+ words
...currently produce 20 million cubic feet of gas equivalent per day. XTO estimates that they hold proved reserves of 185 billion cubic feet of gas equivalent. This bundle of deals will also give XTO a total of 280,000 net undeveloped...
- XTO Energy to Buy Properties for $1.1 Billion from ChevronTexaco.
- News wire article from: Fort Worth Star-Telegram (Fort Worth, TX) May 18, 2004 700+ words
...estimated at 786 billion cubic feet of gas equivalent...oil, continuing XTO's renewed interest...51 per thousand cubic feet. For the first quarter of 2004, XTO reported a 42 percent...rose 25 percent. XTO said that of the...purchased, 88 million cubic feet of ...
- XTO snaps up Hunt Petroleum for $4.2 billion.(XTO Energy Inc.)
- Newspaper article from: The Oil Daily Couturier, Greg June 11, 2008 700+ words
...of 1.05 trillion cubic feet equivalent, of which...will add 197 million cubic feet of natural gas per...natural gas liquids to XTO's output. XTO...the transaction, XTO said it has hedged...08 per thousand cubic feet. Looking ahead...
- XTO may bid for Chief.
- News wire article from: Fort Worth Star-Telegram (Fort Worth, TX) January 28, 2006 700+ words
...November. Chief Oil & Gas produced 34.8 billion cubic feet, and XTO's Barnett Shale production through November totaled 29 billion cubic feet. XTO's good results came in its first year as a major...
- XTO Energy To Purchase Natural Gas and Oil Properties from Dominion Resources.
- Press release article from: M2 Presswire June 4, 2007 700+ words
...and South Texas. XTO Energy's internal...1.06 trillion cubic feet of gas equivalent...50 per thousand cubic feet equivalent (Mcfe) and XTO will spend $200...Mountain Region, XTO is acquiring 810 billion cubic feet equivalent (Bcfe...
- XTO deal called a 'blockbuster'.
- News wire article from: Fort Worth Star-Telegram (Fort Worth, TX) June 5, 2007 700+ words
...flow, assuming an average price of $9 per thousand cubic feet. In a related transaction, XTO said it hedged an additional 100 million cubic feet a day of production at $9.10 for 2008. XTO plans to pay for the acquisition with cash from the...
- XTO Energy Announces Barnett Shale Acquisition; Increases 2005 Production...
- Press release article from: PR Newswire January 11, 2005 700+ words
...counties of Texas. XTO Energy's internal...to be 440 billion cubic feet (Bcf) of natural...totals 60 million cubic feet per day (Mmcf...consideration paid, XTO Energy expects to...33 per thousand cubic feet (Mcf) of natural...
- XTO Energy increases budget, reports strong Q2 earnings.
- Newspaper article from: The Oil Daily Gosmano, Jeff July 20, 2005 700+ words
...production and earnings. XTO's natural gas volumes...to 1.02 billion cubic feet per day in the second...totaled 631 million cubic feet per day, compared...quarter of this year, XTO aims to produce 1...Antero Resources. XTO's average realized...10 per thousand cubic ...
- XTO ENERGY ACQUIRES PROPERTIES IN THE BARNETT SHALE.
- News wire article from: The America's Intelligence Wire March 1, 2004 700+ words
...undisclosed parties. XTO estimates proved...about 154 billion cubic feet of gas equivalent...64 per thousand cubic feet. The company plans...to $520 million. XTO will operate more...30 per thousand cubic feet of gas equivalent...