XTO Energy Expects Minimal Effect on Production From Hurricane Rita
XTO Energy reports that its field operations and production were substantially unaffected by the hurricane-related weather.
Given higher and more volatile natural gas prices, the Company now expects a pricing differential adjustment of $1.00 to $1.10 from the NYMEX natural gas reference price of $8.46 per thousand cubic feet (Mcf) during the third quarter, excluding existing hedging activities. For the fourth quarter, XTO has hedged an additional 200 million cubic feet per day of natural gas at a NYMEX price of $13.40 per Mcf. The Company will announce its earnings for the third quarter on October 20, 2005.
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