XTO Energy Highlights Well Results From Acquisition Properties; Three Forks/Sanish Well Produces Over 1,750 Barrels A Day
05 11월 2008 - 10:36PM
PR Newswire (US)
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. DATASOURCE: 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/
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