XTO Energy knows the X's and O's of a successful oil and gas strategy. The oil and gas exploration and production company buys and develops mostly long-lived producing properties to produce oil and gas (including extracting natural gas and from US shale and other tight formations); it also develops unproved reserves. The company's assets are mainly in Arkansas, Kansas, Louisiana, New Mexico, Oklahoma, Texas, and the Rockies; it also has assets in Appalachia and Canada. A subsidiary of
since 2010, XTO Energy owns interests in about 40,000 producing oil and natural gas wells across the US.
XTO is a leading natural gas and oil producer with expertise in developing tight gas, shale gas, coal bed methane, and unconventional oil resources. It holds more than 10 million acres in the US and owns interests in about 40,000 producing wells across the country.
The company operates across the US, in Montana and Pennsylvania, Utah and Louisiana, and Texas, Ohio, North Dakota, Oklahoma; and to a lesser degree in in Alaska, Arkansas, New York, West Virginia, Wyoming, Colorado, New Mexico, and Kansas. It also has assets in Alberta, Canada.
Prior to and following its purchase by
, XTO Energy has grown through acquisitions and the development of acquired properties.
In 2014, Exxon Mobil enhanced XTO Energy's oil and natural gas portfolio through separate deals in the Permian Basin in Texas and Utica Shale in Ohio. Through an agreement with Endeavor Energy Resources, L.P., XTO will fund development to gain a major operating equity in 34,000 gross acres in the liquids-rich Wolfcamp play in Midland and Upton counties. Endeavor will continue to operate shallow production while XTO will drill and operate horizontal wells at deeper levels. The deal boosted XTO's Permian Basin assets to more than 1.5 million net acres.
That year XTO Energy opened a 340-acre facility in southwestern Pennsylvania to recover marketable liquids from natural gas produced in Butler County.
In 2010 the company was acquired by Exxon Mobil in a $41 billion deal, Exxon Mobil's largest purchase in decades, boosting that company's holdings in the US natural gas market.
XTO Energy was founded in 1986.