XTO Xto Energy, Inc.

FORT WORTH, Texas, July 22 /PRNewswire-FirstCall/ -- XTO Energy Inc. (NYSE:XTO) announced today that it has entered into a definitive agreement to acquire 12,900 net acres adjacent to XTO's existing operations in the Barnett Shale core for approximately $800 million, from an undisclosed third party. XTO Energy's internal engineers estimate proved reserves to be in excess of 300 billion cubic feet of natural gas equivalent, of which about 25% is proved developed. The acquisition will initially add 35 million cubic feet of natural gas equivalent per day to the Company's production base. "XTO's position in the core of the Barnett Shale has provided confident production growth, increasing resource potential and value creation for our shareholders. These properties are located right in the heart of our operations and provide for more of the same," stated Bob R. Simpson, Chairman and Chief Executive Officer. "Given our extensive knowledge of the shale in this region, we anticipate ultimate recovery from these assets will be more than 1 TCF of natural gas over time." Keith A. Hutton, President, further commented, "Our overall position in the Barnett Shale play now includes about 280,000 net acres. Approximately 55%, or 155,000 acres, is situated in the premier core area of the play where the geology offers the best productivity. This bolt-on acquisition is perfectly situated in the fairway of our ongoing development in the core." The transaction is scheduled to close in early October 2008 with an effective date of July 1, 2008. Closing is subject to customary closing conditions and the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976. The final closing price will reflect typical closing and post-closing adjustments. Funding is expected to be provided through a combination of the issuance of equity, long-term senior notes and the Company's commercial paper program. 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, Mississippi, Montana, North Dakota, Pennsylvania and West Virginia. Statements made in this news release, including those relating to proved reserves, proved developed reserves, the increase in daily production, future production growth, resource potential, value creation for shareholders, source of funding and potential resources recovered from assets being acquired 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, failure to timely integrate acquired properties and personnel, changes in underlying demand for oil and gas, the availability of drilling equipment, the timing and results of drilling activity, higher than expected production costs and other expenses, failure to close the pending acquisition, general economic conditions and objection to the transaction by the Federal Trade Commission under the Hart-Scott-Rodino Act. 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. Reserve estimates and estimates of reserve potential or upside with respect to the acquisitions were made by our internal engineers without review by an independent petroleum engineering firm. Data used to make these estimates were furnished by the sellers and may not be as complete as that which is available for our owned properties. We believe our estimates of proved reserves comply with criteria provided under rules of the Securities and Exchange Commission. However, investors are urged to consider closely the disclosure in our Form 10-K for the year ended December 31, 2007 and in our other filings with the SEC. The Securities and Exchange Commission has generally permitted oil and gas companies, in their filings made with the SEC, to disclose only proved reserves that a company has demonstrated by actual production or conclusive formation test to be economically and legally producible under existing economic and operating conditions. We use the terms reserve "potential" or "upside" or other descriptions of volumes of reserves potentially recoverable through additional drilling or recovery techniques that the SEC's guidelines may prohibit us from including in filings with the SEC. These estimates are by their nature more speculative than estimates of proved reserves and accordingly are subject to substantially greater risk of being actually realized by the Company. 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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