XTO to gain 786 Bcfe of U.S. ChevronTexaco proved.(Company Briefs)(XTO Energy Inc.)

Publication: Oil and Gas Investor

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COPYRIGHT 2004 Hart Publications, Inc.

XTO Energy Inc., Fort Worth, (NYSE: XTO) will buy 150 onshore producing properties in seven states from ChevronTexaco Corp. for $1.1 billion, gaining proved reserves of 786 billion cu. ft. of gas equivalent (88% proved developed; 48% oil).

Production is 88 million cu. ft. of gas and 14,000 bbl. of oil per day, with more than 90% of the total from assets in Texas and New Mexico. Overall, XTO will gain ChevronTexaco legacy assets in East Texas, South Texas, the Permian Basin, Midcontinent and the Rockies (coalbed methane).

The purchase will be XTO's entrance to Rockies...

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