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.

Geographic Reach

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.

Strategy

Prior to and following its purchase by Exxon Mobil, 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.

Company Background

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.