Point of View: XTO Energy focuses on long-life US gas reserves

10/25/2004
XTO Energy Inc., Fort Worth, made acquisitions worth almost $2.5 billion across the US during the last 2 years, with an emphasis on expanding the East Texas operations that account for half of its oil and natural gas production."What really explains the success of XTO is production volumes because most of these years we didn't have big commodity prices to help us," said Bob R. Simpson, chairman and CEO. "XTO is a volume-driven, low-cost manufacturing story."XTO, formerly Cross Timbers Oil Co., started up in 1986 and completed its initial public offering in 1993. It now holds a property portfolio that ensures growth for years."We are not under pressure to buy for production growth, alt...
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