XTO Energy buys E. Texas, Mississippi fields

By OGJ editors
HOUSTON, Feb. 8 -- XTO Energy Inc., Fort Worth, plans to buy gas producing properties in East Texas and northeastern Mississippi from Total E&P USA Inc. for $300 million.

The deal, which leaves Total E&P with US properties only in the Gulf of Mexico, is to close Feb. 28 and be retroactive to Jan. 1, 2006.

The properties, with 120 bcf of estimated proved reserves, 60% proved developed and 95% gas, produce 15 MMcfd of gas.

The acquired reserves are 75% in the Sabine uplift in Carthage field, where XTO operates, and in Bethany field, new to the company. Maben field, in Oktibbeha County, Miss., "offers potential to increase productivity through different stimulation techniques, uphole recompletions and new horizontal well targets," XTO said

Related Articles

Increased gas production from shale rewires global supply grid

10/01/2013 DENVER, Colo.—"Unconventional gas is changing the dynamic within the global gas trade network," Elizabeth Spomer, senior vice-president, ...

DOE approves Dominion Cove Point LNG exports to non-FTA countries

09/23/2013 The US Department of Energy approved Dominion Cove Point LP's application to export LNG from its terminal in Calvert County, Md., to countries that...

Demand and prices fall

12/29/2008 Even as a winter storm dumped snow and ice on the US Midwest and East Coast during Christmas week, markets remained unconvinced OPEC can cut produc...

MARKET WATCH: Energy demand, prices both plummet

12/23/2008 The front-month February contract for benchmark US crudes fell 6% to less than $40/bbl Dec. 22 amid market fears OPEC cannot cut production fast en...

Careers at TOTAL

Careers at TOTAL - Videos

More than 600 job openings are now online, watch videos and learn more!


Click Here to Watch

Other Oil & Gas Industry Jobs

Search More Job Listings >>
Stay Connected