XTO Energy acquires $100 million in natural gas properties, 83 bcf in reserves

Exploration and production independent XTO Energy said Oct. 15 that it acquired $100 million worth of natural gas properties that will boost the company’s position in Texas, Arkansas, New Mexico and Colorado. The Fort Worth, Texas-based producer said the properties contain estimated proved reserves of 83 billion cubic feet of gas, 60 percent of which are proved developed. The properties also will contribute a total of about 12.7 million cubic feet per day of production during the fourth quarter, XTO said.

In East Texas, XTO purchased 42 billion cubic feet of equivalent reserves in Freestone and Limestone counties and production of 4 million cubic feet per day net to XTO. The 11,000 gross acres acquired also includes a processing plant with 35 million cubic feet of daily capacity, the company said.

In Arkansas’ Arkoma Basin, the company said it bought 19 billion cubic feet of equivalent reserves in Franklin, Logan, Pope and Sebastian counties, with daily production of 4.3 million cubic feet net to XTO.

In the San Juan Basin of New Mexico and Colorado, XTO said it added another 22 billion cubic feet of gas equivalent with 4.4 million cubic feet of production per day net to XTO.