XTO Energy Inc. reported that it intends to publicly offer 20,000,000 shares of its common stock. Proceeds of the offering are expected to fund recently announced property acquisitions and to repay indebtedness under its commercial paper program.
The offering will be made pursuant to the Company's effective shelf registration statement. The Company has also granted the underwriters an option to purchase an additional 3,000,000 shares of common stock to cover over-allotments.
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