XTO Xto Energy, Inc.

FORT WORTH, Texas, Nov. 20 /PRNewswire-FirstCall/ -- XTO Energy Inc. (NYSE:XTO) today announced that its Board of Directors has approved a 2009 capital budget for development and exploration expenditures of $3.3 billion. An additional $500 million has been budgeted for the construction of pipeline infrastructure and compression and processing facilities. With these expenditures, the Company plans to increase 2009 production volumes by 18% over 2008 levels. "The budget approved today will provide for activity levels consistent with 2008 and positions us to take advantage of organizational efficiencies and falling costs. Moreover, combined with our expansive hedging program, XTO should have 18% production growth and record cash flow, with free cash flow approximating $2 billion. As a result, we will dedicate at least $1.25 billion to debt reduction," stated Bob R. Simpson, Chairman of the Board. "In these challenging times, the strength of our property base allows XTO to continue to create shareholder value through volume growth and strong economic margins," stated Keith A. Hutton, President. "With this managed growth strategy, the Company expects to average utilizing 90 drilling rigs for 2009. Activities will include drilling 1,250 new wells and conducting 800 workover events." During the year, the Eastern Region will be allocated $1.0 billion. The Barnett Shale Region will utilize about $800 million. The Arkoma Basin and Mid-Continent properties will be allocated $500 million. The Bakken, Gulf Coast and Offshore areas will be allocated $350 million. Programs in the Permian District are expected to utilize another $300 million. The San Juan, Raton, Uinta and Piceance basins combined will be allocated $250 million. Finally, the Company will target $100 million for exploration events. 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 increases, cash flow, free cash flow, debt reduction, stock value, margins, number of wells to be drilled, the number of rigs to be utilized, the number of workover events, development and exploration activities and development budget expenditures by area 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, production downtime due to maintenance, weather or other factors outside the Company's control, the availability of drilling equipment and technical personnel, changes in interest rates, higher than expected production costs and other expenses, future acquisitions, general economic conditions and failure to obtain or delays in obtaining necessary permits for construction projects. 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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