XTO Energy Expects Year-End 2005 Reserves to Exceed 7.5 Tcfe

In connection with its securities analysts meeting, XTO Energy Inc. said that the Company expects year-end 2005 proved reserves to exceed 7.5 trillion cubic feet of natural gas equivalent (Tcfe). These reserve volumes imply an all-in finding and development cost for the year, including acquisitions, of between $1.40 - $1.50 per thousand cubic feet of gas equivalent (Mcfe). Based on development expenditures of about $1.4 billion, the Company further expects its 2005 drill bit finding costs to range between $1.10 - $1.20 per Mcfe. Final proved reserves estimates, as prepared by Miller & Lents, Ltd., will be available by late February.

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 and Louisiana.

Our Privacy Pledge

Most Popular Articles
Related Articles

Brent Crude Oil : $48.06/BBL 2.51%
Light Crude Oil : $45.77/BBL 2.17%
Natural Gas : $2.97/MMBtu 2.30%
Updated in last 24 hours