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XTO Xto Energy, Inc.

41.81
0.00 (0.00%)
16 May 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
Xto Energy, Inc. NYSE:XTO NYSE Ordinary Share
  Price Change % Change Share Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 41.81 0.00 01:00:00

XTO Energy Increases 2010 Commodity Price Hedges; Fifty-Five Percent of 2010 Projected Production Now Hedged at $9.62 Per Mcfe;

23/09/2009 1:20pm

PR Newswire (US)


XTO (NYSE:XTO)
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FORT WORTH, Texas, Sept. 23 /PRNewswire-FirstCall/ -- XTO Energy Inc. (NYSE:XTO) today updated its price hedges for future sales of production in 2010. "We have now hedged approximately fifty-five percent of our projected 2010 production and remain confident of a stronger natural gas environment," stated Bob R. Simpson, Chairman and Founder. "These prices secure robust cash margins and cash flow for our liquids-rich natural gas company while still allowing us to participate in an improving natural gas market next year." The following table reflects the Company's current outstanding 2010 commodity swap transactions: Mcf or Bbls NYMEX Price Natural Gas PRODUCTION per Day per Mcf or Bbl Mcfe Price ------- -------------- ---------- Natural Gas 1,250,000 $ 7.49 Oil 70,000 $ 95.70 ------------------------------------------------------------------------- Total Natural Gas Equivalent 1,670,000 $9.62 ============================= ========= ===== The Company also announced today production results from the Jorgenson 43X-04 in the Bakken Shale play of North Dakota. This Three Forks/Sanish well was completed at an initial daily production rate of 2,700 barrels of oil equivalent, at a flowing casing pressure of 1,700 pounds. "The Jorgenson well sets a new standard for our Three Forks/Sanish program," stated Keith A. Hutton, CEO. "As we move into 2010, we expect to double our rig count to six in the Bakken." 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. This release can be found at http://www.xtoenergy.com/. This document contains 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, including statements regarding projected 2010 production, a stronger natural gas environment and rig counts in the Bakken Shale. Forward-looking statements include estimates and give our current expectations or forecasts of future events. Although we believe our forward-looking statements are reasonable, they can be affected by inaccurate assumptions or by known or unknown risks and uncertainties. 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, or Thomas E. Covington, Vice President, Investor Relations, all of XTO Energy Inc., +1-817-870-2800 Web Site: http://www.xtoenergy.com/

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