XTO Energy Inc.
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XTO ENERGY In 1998, XTO purchased the Middle Ground Shoal Field in Alaska's Cook Inlet. This highly complex field had yielded 120 million barrels to date. The Company operates two platforms in about 70 feet of water with 27 wells, both production and injection. A successful program is underway to further develop the complex reservoir and extend the waterflood. This area accounts for about one-third of XTO's daily oil production.
XTO Energy Inc., formerly Cross Timbers Oil Company, is a premier domestic natural gas producer engaged in the acquisition, exploitation and development of high quality, long-lived producing oil and gas properties. The Company's oil and gas reserves have grown from 296 billion cubic feet equivalent (Bcfe) in 1993 to almost 2.7 trillion cubic feet equivalent (Tcfe) today, making it the fourth largest owner of domestic gas reserves among the independents.
Over its 16 year history, XTO Energy's assets portfolio has fueled remarkably consistent growth in production and reserves, on a per share basis. Acquisitions have grown an average of 83%. The Company leads in low-cost development and high-margin economic returns. Tremendous value has been created for shareholders and the stock has performed well-up about seven times since the IPO in 1993.
Importantly, XTO Energy is poised to continue extraordinary performance. The Company holds an unprecedented inventory of low-risk projects which will...
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