(Source: PRNewswire)
FORT WORTH, Texas, June 30 /PRNewswire-FirstCall/ -- XTO Energy Inc. (NYSE: XTO) today updated its price hedges for future sales of oil production in 2010. The company has now hedged approximately 95% of its projected 2010 oil production. The following table reflects the Company's current outstanding commodity swap transactions:
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 Bob R. Simpson, Chairman and Founder. "Even in these difficult economic times, our geo-technical team continues to unlock the power of last year's acquisitions and position XTO for a strong 2010."
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.
This release can be found at 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.
Originally published by XTO Energy Inc..
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