Topic: Oil and Gas News - XTO Energy buys Texas natural-gas properties for $550 Million 8:22 … - Dallas Morning News

The purchases included 24,000 acres with proved reserves equivalent to more than 200 billion cubic feet of gas, Fort Worth-based XTO said Tuesday in a statement on PR Newswire. Net income rose to $412 million, or $1. Excluding a loss for the decreased value of derivatives contracts used to lock in prices, the company said it earned $1. The company in June agreed to buy oil and gas properties in Utah, New Mexico, southern Colorado and Louisiana from Dominion Resources Inc. Production of oil and gas rose 24 percent to the equivalent of 1. read more

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