XTO Xto Energy, Inc.

FORT WORTH, Texas, July 22 /PRNewswire-FirstCall/ -- XTO Energy Inc. (NYSE:XTO) is providing operational and financial guidance for 2008 based on current expectations for production, expenses, recently announced acquisitions and other parameters resulting from ongoing operations and development budget activities. These statements are forward looking, as described in the final paragraph of this release, and actual results may differ materially. These estimates do not include derivative fair value gains and losses, the effects of possible future acquisitions or divestitures, or unforeseen events that may occur after this release. Production The Company expects to grow its 2008 production volume by at least 29%. The estimated ranges of average daily production are: Q3 Q4 Natural Gas (Mmcf) 1,935 - 1,955 2,180 - 2,200 NGL (Mbbl) 17 19 Oil (Mbbl) 60 68 Total Gas Equivalent (Mmcfe) 2,397 - 2,417 2,702 - 2,722 Price Realizations and Differentials The Company's realized natural gas and oil prices are expected to average below the NYMEX prices due to regional differentials. The following are estimated pricing differentials, or percentage reductions to NYMEX prices, before consideration of any hedging activity: Q3 - Q4 Differential (Percentage of NYMEX) Natural Gas 10 - 12% Oil 8 - 10% Realized pricing for natural gas liquids (NGL) is expected to be about 50% to 55% of the average NYMEX oil price. Expenses The following table presents the Company's expected expenses per Mcfe assuming an $11.00 per Mcf NYMEX gas price and a $115.00 per Bbl NYMEX oil price: Expense ($/Mcfe) Q3 - Q4 Production 1.00 - 1.05 Taxes, transportation and other 0.85 - 0.95 Exploration 0.05 - 0.10 Depreciation, depletion and amortization 2.20 - 2.40 Accretion of asset retirement obligation 0.02 - 0.04 General and administrative: cash 0.25 - 0.30 General and administration: non-cash, stock-based 0.12 - 0.18 Interest 0.55 - 0.60 2008 Capital Budget The Company is increasing its budget for development and exploration expenditures from $3.0 billion to $3.5 billion and its expenditures for construction of pipeline infrastructure, compression and processing facilities from $500 million to $600 million. Hedging The Company's current NYMEX hedging positions for natural gas and oil are: PRODUCTION: Mcf or Bbls NYMEX Price Natural Gas per Day per Mcf or Bbl 2008 July - Dec 1,200,000 $8.32 Sept - Dec 100,000 $12.64 2009 Jan - Dec 300,000 $10.26 2010 Jan - Dec 100,000 $10.27 Oil 2008 July - Dec 30,000 $74.20 July - Sept 8,450 $131.78 Oct - Dec 13,000 $135.35 2009 Jan - Dec 15,000 $119.59 Jan - Dec 5,000 $146.01 2010 Jan - Dec 10,000 $128.84 Jan - Dec 5,000 $146.01 Income Tax For the year, the Company projects a 37% effective tax rate, with up to 30% of that amount expected to be currently payable. 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. This release can be found at http://www.xtoenergy.com/. Statements made in this news release, including those relating to production volume growth for 2008, average daily production, price realizations and differentials, commodity prices, expenses, capital budget expenditures in 2008 and effective income tax rates and percentage currently payable 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, failure to close previously announced acquisitions, 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 timing of production, treatment and transportation facility installations, the availability of drilling equipment and technical personnel, curtailments by third-party pipelines and processing or treatment facilities, changes in interest rates, higher than expected production costs and other expenses and failure to timely integrate acquired properties 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, 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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