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.
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