XTO ON BUYING SURGE....
GONA BE VERY VERY BIG IN GAS N OIL
NEW YORK (MarketWatch) -- XTO Energy Inc. (XTO:XTO
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XTO, , ) on Tuesday said it'll buy closely held Hunt Petroleum Corp. for $4.19 billion in cash and stock, as the Fort Worth, Texas, natural gas and oil producer moved to boost its reserves and production. XTO Energy said Hunt Petroleum's proved reserves total about 1.052 trillion cubic feet of natural gas equivalent in East Texas, Louisiana and in the Gulf of Mexico. About 62% of the reserves are proved and developed. Daily production of 197 million cubic feet, 8,500 barrels of oil and 2,300 barrels of natural gas liquids will be added to XTO's production base upon closing of the transaction. "Simply put, the majority of these properties equate to a super-charged bolt-on for XTO," the company said.
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Comments: 1
Hunt's a genius. Anticipating the coming of the next major nuclear energy agethat will make the USA energy independent by 2017 Hunt is divesting himself of as much of oil - the boutique fuel of the future, as possible. I'm impressed. I am not joki...
- ROMO3
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ROMO3 1 hour ago -1 Vote (0 Up / 1 Dn)
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SentHunt's a genius. Anticipating the coming of the next major nuclear energy agethat will make the USA energy independent by 2017 Hunt is divesting himself of as much of oil - the boutique fuel of the future, as possible. I'm impressed. I am not joking either and I really know what I am talking about - keep your eyes open...
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