Increased Production, Budget in 2008 for XTO
XTO Energy Inc. is providing operational and financial guidance for 2008 based on current expectations for production, expenses, recently announced acquisitions and other parameters resulting from ongoing operations and development budget activities. These estimates do not include derivative fair value gains and losses, the effects of possible future acquisitions or divestitures, or unforeseen events that may occur after this release.
The Company is increasing its 2008 production volume growth target from 20% to 23%.
The Company is increasing its budget for development and exploration expenditures from $2.6 billion to $3.0 billion. Expenditures for construction of pipeline infrastructure, compression and processing facilities will increase from $400 million to $500 million.
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