Bloomberg.com has reported today that XTO Energy Inc. acquired natural-gas properties in the Barnett Shale formation of North Texas from multiple sellers for about $550 million.
Bloomberg.com has reported today that the purchases included 24,000 acres with proven reserves equivalent to more than 200 billion cubic feet of gas, Fort Worth-based XTO said Tuesday in a statement on PR Newswire.
Bloomberg.com has reported today that The U.S. oil and natural-gas producer also reported Tuesday that its third-quarter profit rose 12 percent on increased output and higher prices.
Bloomberg.com has reported today that Net income rose to $412 million, or $1.05 a share, from $367 million, or 99 cents, a year earlier, XTO said in a statement. Sales rose 30 percent to $1.42 billion.
Excluding a loss for the decreased value of derivatives contracts used to lock in prices, the company said it earned $1.06 a share. On that basis, XTO was expected to earn $1.07, the average of 22 analyst estimates compiled by Bloomberg.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment