In connection with its securities analyst meeting, XTO Energy Inc. announced Tuesday that the company expects year-end 2006 proved reserves to exceed 8.4 trillion cubic feet of natural gas equivalent (Tcfe). These reserve volumes imply an all-in finding and development cost for the year, including acquisitions, between $1.65 - $1.80 per thousand cubic feet of gas equivalent (Mcfe). Based on development and exploration expenditures of about $2.1 billion, the company further expects its 2006 drill bit finding costs to range between $1.50 - $1.65 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, Louisiana and Mississippi.