XTO Energy Inc. (NYSE XTO) announced today the addition of price hedges for future sales of natural gas in 2006. The Company hedged another 140 million cubic feet per day (Mmcf/d) of natural gas volumes in September at a price of $8.17 per Mcf and another 215 Mmcf/d in the fourth quarter at a price of $9.74 per Mcf. Hedged volumes beyond 2006 have not changed.
The following table details the Company's current commodity swap
transactions:
Mcf or Bbls NYMEX Price
per Day per Mcf or Bbl
Natural Gas
Sep 2006 400,000 $10.05
Oct-Dec 2006 800,000 $10.28
Jan-Dec 2007 500,000 $10.05
Oil
Jun-Dec 2006 37,500 $68.37
Jan-Dec 2007 37,500 $74.40
Jan-Dec 2008 22,500 $74.26
"We continue to act opportunistically with our hedging activities to capture record economic returns for the Company," stated Bob R. Simpson, Chairman and Chief Executive Officer. "As we look forward, XTO's prolific drilling inventory and free cash flow should drive production and reserve growth -- and thus, underlying value -- for years to come."
XTO Energy Inc. is a domestic energy producer engaged in the acquisition, development and discovery 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.
The following table details the Company's current commodity swap
transactions:
Mcf or Bbls NYMEX Price
per Day per Mcf or Bbl
Natural Gas
Sep 2006 400,000 $10.05
Oct-Dec 2006 800,000 $10.28
Jan-Dec 2007 500,000 $10.05
Oil
Jun-Dec 2006 37,500 $68.37
Jan-Dec 2007 37,500 $74.40
Jan-Dec 2008 22,500 $74.26
"We continue to act opportunistically with our hedging activities to capture record economic returns for the Company," stated Bob R. Simpson, Chairman and Chief Executive Officer. "As we look forward, XTO's prolific drilling inventory and free cash flow should drive production and reserve growth -- and thus, underlying value -- for years to come."
XTO Energy Inc. is a domestic energy producer engaged in the acquisition, development and discovery 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.
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