XTO Energy Completes the Barnett Shale Acquisition of Peak Energy Resources
2006年7月6日 - 10:30PM
PRニュース・ワイアー (英語)
FORT WORTH, Texas, July 6 /PRNewswire-FirstCall/ -- XTO Energy Inc.
(NYSE:XTO) has closed its previously announced acquisition of
Energy Resources, Inc., a Barnett Shale producer, for equity
consideration of 2.555 million shares of XTO common stock. The
purchase price was increased by approximately $5.4 million in cash
consideration to acquire an additional 3,600 net acres, bringing
the total net leasehold acquired to about 37,000 acres. During
June, XTO repurchased 2.2 million shares of its common stock in the
open market at an average price of $37.74 per share. "XTO has
earned a position in the Barnett Shale as the second largest
producer and most active driller through a focused strategy of
aggregating leasehold in areas where our geoscientists expect the
greatest potential. The Peak acreage, production and infrastructure
fortifies our foothold in a premier region of the non-core
Barnett," stated Bob R. Simpson, Chairman and Chief Executive
Officer. "With more than 200,000 net acres across the play, XTO is
well positioned for years of low-risk development drilling ahead.
Importantly, we will continue to hand-pick our property additions
where drilling favors strong deliverability, tighter spacing and
healthy economics." XTO Energy Inc. is a domestic natural gas
producer engaged in the acquisition, exploitation and development
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,
Louisiana and Mississippi. Statements made in this news release,
including those relating to the future drilling, property
acquisitions, deliverability and economics 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
availability of drilling equipment, the timing and results of
drilling activity and higher than expected production costs and
other expenses and personnel. 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. DATASOURCE: XTO Energy Inc. CONTACT: Louis G. Baldwin,
Executive Vice President & Chief Financial Officer, XTO Energy
Inc., +1-817-870-2800; Gary D. Simpson, Senior Vice President,
Investor Relations & Finance, XTO Energy Inc., +1-817-870-2800
Web site: http://www.xtoenergy.com/
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