XTO Energy Sets 2006 Development Budget of $1.7 Billion; Targets Production Growth of 10 - 12% for the Year
2006年1月27日 - 9:30PM
PRニュース・ワイアー (英語)
FORT WORTH, Texas, Jan. 27 /PRNewswire-FirstCall/ -- XTO Energy
Inc. (NYSE:XTO) today announced that its Board of Directors
approved a 2006 capital budget for development and exploration
expenditures of $1.7 billion. An additional $100 million has been
budgeted for the construction of pipeline infrastructure and
compression and processing facilities. With these expenditures, the
Company plans to increase production volumes by 10 - 12% over 2005
levels. "Our development programs continue to drive top-tier
performance for our shareholders -- meaning consistent drill-bit
growth, exceptional economic returns and visibility for the
future," stated Bob R. Simpson, Chairman and Chief Executive
Officer. "For 2006, XTO anticipates another exciting year dedicated
to measured growth and financial strength." During the year, XTO
Energy expects to drill 1,050 wells (865 net) and perform
approximately 735 (620 net) workovers and recompletions throughout
the year. Activities in its Eastern Region of East Texas and
Louisiana will account for $700 million. Barnett Shale development
in North Central Texas will be allocated $350 million. The San
Juan, Raton and Uinta basins combined will be allocated $200
million. Programs in the Permian District are expected to utilize
another $240 million. The Arkoma Basin and Mid-Continent properties
will be allocated $140 million. Finally, the Company will target
$70 million for exploration events and acreage leasing activities.
XTO Energy Inc. is a domestic energy producer engaged in the
acquisition, development and discovery of quality, long-lived oil
and natural gas properties in the United States. Its properties are
concentrated in Texas, New Mexico, Arkansas, Oklahoma, Kansas,
Wyoming, Colorado, Alaska, Utah and Louisiana. This release can be
found at http://www.xtoenergy.com/. Statements made in this news
release, including those relating to production volume increases,
stock performance, drill bit growth, economic returns, financial
strength, number of wells to be drilled, the number of workovers
and recompletions, development and exploration activities and
development budget expenditures by area are forward-looking
statements within the meaning of Section 27A of the Securities Act
of 1933 and Section 21E of the Securities Exchange Act of 1934.
These statements are based on assumptions and estimates that
management believes are reasonable based on currently available
information; however, management's assumptions and the Company's
future performance are subject to a wide range of business risks
and uncertainties and there is no assurance that these goals and
projections can or will be met. Any number of factors could cause
actual results to differ materially from those in the
forward-looking statements, including, but not limited to, the
timing and extent of changes in oil and gas prices, changes in
underlying demand for oil and gas, the timing and results of
drilling activity, production downtime due to maintenance, weather
or other factors outside the Company's control, the availability of
drilling equipment and technical personnel, changes in interest
rates, higher than expected production costs and other expenses,
future acquisitions, general economic conditions and failure to
obtain or delays in obtaining necessary permits for construction
projects. The Company undertakes no obligation to publicly update
or revise any forward-looking statements. Further information on
risks and uncertainties is available in the Company's filings with
the Securities and Exchange Commission, which are incorporated by
this reference as though fully set forth herein. First Call
Analyst: FCMN Contact: DATASOURCE: XTO Energy Inc. CONTACT: Louis
G. Baldwin, Executive Vice President & Chief Financial Officer,
or Gary D. Simpson, Senior Vice President, Investor Relations &
Finance, both of XTO Energy Inc., +1-817-870-2800 Web site:
http://www.xtoenergy.com/
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