XTO Energy expanding its Fayetteville shale acreage

By OGJ editors
HOUSTON, Apr. 7 -- XTO Energy Inc. agreed to acquire 55,631 net acres of Fayetteville shale leasehold acreage, including producing properties, from Southwestern Energy Co. for $520 million.

Upon completion, the acquisition will expand XTO's position in the Fayetteville shale to more than 300,000 net acres. Closing is expected by May 5.

XTO Energy Pres. Keith A. Hutton said the acreage being acquired is contiguous to the Fort Worth, Tex., company's core development footprint.

"With the pipeline infrastructure already in place, our immediate plans include using four drilling rigs in 2008 and at least six rigs in 2009," Hutton said. "We expect proved reserves attributable to this acquisition to grow to 160 bcfe this year and at least 325 bcfe by yearend 2009."

Related Articles

Southwestern Energy to acquire Niobrara acreage for liquids-rich play

03/07/2014 Southwestern Energy Co., Houston, has agreed to purchase 312,000 net acres in northwest Colorado targeting oil, natural gas liquids, and natural ga...

Southwestern Energy appoints senior vice-president

10/29/2008 Southwestern Energy Co. has appointed Jeffrey B. Sherrick as senior vice-president, exploitation, of its subsidiaries SEECO Inc. and Southwestern E...

Kinder Morgan, ETP form Fayetteville pipeline JV

10/01/2008 Kinder Morgan Energy Partners LP (KMP) and Energy Transfer Partners LP (ETP) announced a 50:50 joint venture, Fayetteville Express Pipeline LLC, to...

3D seismic guides Arkoma Fayetteville play

08/02/2007 Drilling and 3D seismic surveying are ramping up in the Arkoma basin Fayetteville shale gas play in Arkansas.

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