XTO Energy Increases Proved Reserves to a Record 7.622 Tcfe, Up 1.762 Tcfe or 30%
2006年2月27日 - 10:30PM
PRニュース・ワイアー (英語)
FORT WORTH, Texas, Feb. 27 /PRNewswire-FirstCall/ -- XTO Energy
Inc. (NYSE:XTO) today announced that Miller and Lents, Ltd.,
independent petroleum engineers, estimate XTO's proved oil and gas
reserves at December 31, 2005 to be a record 7.622 trillion cubic
feet of gas equivalent (Tcfe), up 30% compared with 5.860 Tcfe at
December 31, 2004. Natural gas reserves increased 29% to 6.086 Tcf,
and natural gas combined with natural gas liquids of 47 million
barrels equaled 84% of total reserves. Oil reserves increased 37%
to 209 million barrels. Proved developed reserves accounted for 69%
of total proved reserves on an Mcfe basis. During 2005, XTO Energy
added 2.337 Tcfe at a cost of $1.44 per thousand cubic feet of gas
equivalent (Mcfe), replacing 481% of production. Including asset
retirement obligations, the cost rises to $1.47 per Mcfe. The
Company's development program replaced 274% of production or 1.330
Tcfe at a cost of $1.12 per Mcfe. Based on year-end prices of $9.26
per thousand cubic feet of gas (Mcf), $36.33 per barrel of natural
gas liquids and $57.02 per barrel of oil and on constant cost
assumptions, estimated future net cash flows, before income taxes,
totaled $50.9 billion at December 31, 2005. The present value
before income tax, discounted at 10%, was $25.8 billion, compared
to $12.2 billion at year-end 2004. Year-end 2004 prices were $5.69
per Mcf of gas, $28.24 per barrel of natural gas liquids and $41.03
per barrel of oil. 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 proved
reserves, estimated future net cash flows and present value of
future net cash flows before taxes 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 both 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, the availability of drilling equipment, changes
in interest rates, higher than expected production costs and other
expenses and general market conditions. 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. XTO ENERGY INC. Proved Oil and Gas Reserves
December 31, 2005 Natural (in millions) Gas Gas Liquids Oil (Mcf)
(Bbls) (Bbls) BOE Mcfe Proved Developed 4,033.1 36.5 168.5 877.1
5,262.9 Proved Undeveloped 2,052.5 10.9 40.2 393.3 2,359.3 Total
Proved 6,085.6 47.4 208.7 1,270.4 7,622.2 Estimated future net cash
flows of proved reserves, before income tax (A) $50,897 Present
value of future net cash flows discounted at 10%, after income tax
(or standardized measure disclosure under SFAS No. 69) $17,094 Add:
Present value of future income tax discounted at 10% 8,722 Present
value of future net cash flows discounted at 10% before income tax
(A) $25,816 (A) Management believes that pre-tax cash flow amounts
are also useful for evaluative purposes since future income taxes,
that are affected by a company's unique tax position and
strategies, can make after-tax amounts less comparable. Changes in
Proved Reserves Natural (in millions) Gas Gas Liquids Oil (Mcf)
(Bbls) (Bbls) BOE Mcfe December 31, 2004 4,714.5 38.5 152.5 976.7
5,860.3 Revisions 4.0 5.3 12.1 18.1 108.5 Extensions and
discoveries 986.6 4.9 34.2 203.5 1,221.2 Production (377.1) (3.8)
(14.3) (80.9) (485.5) Purchases in place 803.4 2.8 31.1 167.9
1,007.1 Sales in place (45.8) (0.3) (6.9) (14.9) (89.4) December
31, 2005 6,085.6 47.4 208.7 1,270.4 7,622.2 Acquisition,
Development and Exploration Costs Incurred During 2005 The
following table summarizes costs incurred, whether such costs are
capitalized or expensed for financial reporting purposes: (in
millions) Acquisitions: Proved properties $ 1,710 Unproved
properties - acquisition of corporation (A) 180 Unproved properties
- other 92 Development (B) 1,341 Exploration (C) 52 Asset
retirement obligation accrual 53 Total costs incurred disclosure
under SFAS No. 69 3,428 Asset retirement obligation accrual (53)
Total costs incurred before asset retirement cost accrual (D) $
3,375 (A) Represents a portion of the allocated purchase price of
Antero Resources Corporation. (B) Includes $6 million of
capitalized interest. (C) Primarily includes exploratory drilling,
geological and geophysical costs. (D) For purposes of evaluating
annual costs incurred, management excludes the asset retirement
obligation accrual since these estimated costs are related to
future activities, and are deducted in the calculation of estimated
future net cash flows of proved reserves. 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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