FORT WORTH, Texas, Nov. 5 /PRNewswire-FirstCall/ -- XTO Energy Inc.
(NYSE: XTO) announced today production results from wells drilled in multiple
regions on its newly acquired property base. In the Bakken Shale play of
North Dakota, the Company has now completed 5 wells with average production
rates of 673 barrels of oil equivalent per day, primarily producing from the
Middle Bakken shale section. In addition, a Three Forks/Sanish discovery
well, the DeAngelis 41x-21, has been completed at an initial production rate
of 1,750 barrels of oil equivalent, at a flowing tubing pressure of 2,200
pounds. XTO currently operates four drilling rigs in this prolific oil basin
and owns a leasehold position with over 450,000 acres. In the Fayetteville
Shale, where XTO has expanded its leasehold to 380,000 acres, the Company has
recently drilled and completed 5 wells, with 4,000 feet lateral sections, at
an average daily rate of 2.5 MMcf. In the Woodford Shale region, on newly
acquired acreage, the Churchill 1-26 well is completed and producing 4.3 MMcf
per day. In the Farrar/Bear Grass Field of the Freestone Trend, the
Beddingfield 6H, a horizontal Cotton Valley lime well, was recently completed
at 8 MMcf per day. This well offsets producing leases, totaling about 5,500
acres, acquired in the Hunt Petroleum transaction where drilling activity will
commence in early 2009. Also, XTO has spudded its first two horizontal
Haynesville Shale wells on acquired leasehold in its Eastern Region. Finally,
in its offshore producing region of the Gulf Coast, XTO has completed and
tested the Main Pass 125-2 well, one of several identified development
prospects, at an initial daily rate of 17 MMcf and 500 barrels of oil.
"Our team in the field has immediately engaged drilling and workover
activities, across the board, that demonstrate the performance of our expanded
property base," stated Keith A. Hutton, President. "With our acquisitions
this year has come strong production with visible growth opportunities."
XTO Energy Inc. is a domestic natural gas producer engaged in the
acquisition, exploitation and development of quality, long-lived oil and
natural gas properties in the United States. Its properties are concentrated
in Texas, New Mexico, Arkansas, Oklahoma, Kansas, Wyoming, Colorado, Alaska,
Utah, Louisiana, Mississippi, Montana, North Dakota, Pennsylvania, New York,
West Virginia and Kentucky.
This release can be found at http://www.xtoenergy.com.
Statements made in this news release, including those relating to
production volume, growth opportunities, future production rates per well,
delivery of new reserves and economic returns are forward-looking statements
within the meaning of Section 27A of the Securities Act of 1933 and Section
21E of the Securities Exchange Act of 1934. These statements are based on
assumptions and estimates that management believes are reasonable based on
currently available information; however, management's assumptions and the
Company's future performance are subject to a wide range of business risks and
uncertainties and there is no assurance that these goals and projections can
or will be met. Any number of factors could cause actual results to differ
materially from those in the forward-looking statements, including, but not
limited to, the timing and extent of changes in oil and gas prices, changes in
underlying demand for oil and gas, the timing and results of drilling
activity, the timing of production, treatment and transportation facility
installations, the availability of drilling equipment and technical personnel,
curtailments by third-party pipelines and processing or treatment facilities,
changes in interest rates, higher than expected production costs and other
expenses and failure to timely integrate acquired properties and personnel.
The Company undertakes no obligation to publicly update or revise any
forward-looking statements. Further information on risks and uncertainties is
available in the Company's filings with the Securities and Exchange
Commission, which are incorporated by this reference as though fully set forth
herein.
SOURCE: XTO Energy Inc.
CONTACT: Louis G. Baldwin, Executive Vice President & Chief Financial
Officer, or Gary D. Simpson, Senior Vice President, Investor Relations &
Finance, both of XTO Energy Inc., +1-817-870-2800
Web site: http://www.xtoenergy.com