XTO Energy Increases Oil Price Hedges for 2010
PRODUCTION: Mcf or Bbls NYMEX Price Natural Gas
per Day per Mcf or Bbl Mcfe Price
2009 Natural Gas
Jul - Dec* 1,745,000 $ 8.79
Oil
Jul - Dec** 62,500 $ 117.11
Total Natural Gas
Equivalent
Jan - Dec 2,120,000 $ 10.69
2010 Natural Gas
Jan - Dec 730,000 $ 8.67
Oil
Jan - Dec 70,000 $ 95.70
Total Natural
Gas Equivalent
Jan - Dec 1,150,000 $ 11.33
* Includes swap agreements for 1,273,000 Mcf per day which were early
settled and reset at current market prices. The price shown is the
price that will be used for cash flow hedge accounting purposes and
has been reduced for transaction costs related to the early
settlements. The weighted average cash settlement contract price
for all contracts is $6.35 per Mcf.
** Includes swap agreements for 57,000 Bbls per day which were early
settled and reset at current market prices. The price shown is the
price that will be used for cash flow hedge accounting purposes and
has been reduced for transaction costs related to the early
settlements. The weighted average cash settlement contract price for
all contracts is $58.64 per Bbl.
“We are encouraged by our activities in the Bakken Shale and the additional oil hedges underpin these strong economics,” stated
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
This release can be found at http://www.xtoenergy.com.
This document contains 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. Forward-looking statements include estimates and give our current expectations or forecasts of future events. Although we believe our forward-looking statements are reasonable, they can be affected by inaccurate assumptions or by known or unknown risks and uncertainties. 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.
