XTO Completes Peak Energy Acquisition

XTO Energy Inc. has closed its previously announced acquisition of Peak Energy Resources, Inc., a Barnett Shale producer, for equity consideration of 2.555 million shares of XTO common stock.

The purchase price was increased by approximately $5.4 million in cash consideration to acquire an additional 3,600 net acres, bringing the total net leasehold acquired to about 37,000 acres. During June, XTO repurchased 2.2 million shares of its common stock in the open market at an average price of $37.74 per share. 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, and Mississippi.

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