XTO Ups 2009 Production Target, Development Budget
XTO Energy Inc. announced that the Company is increasing its 2009 production growth target to 22% based on projected development activities and acquisitions already announced in 2008. In order to achieve this production growth, the 2009 development budget is estimated to be $4.6 billion. The Company plans to utilize about 120 operated drilling rigs. Another $700 million will be allocated for pipeline infrastructure, compression and processing facilities.
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