XTO ENERGY INC: announcements explained, share price

Announcements, explained

Each one in plain English, with the numbers worked through for a shareholder.

2 Feb 2006drilling progress report▲ GoodMajor

On January 27, 2006 the board approved a 2006 development and exploration budget of $1.7B, plus $100M for pipelines, compression and processing facilities. It targets 10-12% production growth over 2005 levels, with 1,050 wells (865 net) and about 735 (620 net) workovers and recompletions. Allocations: Eastern Region $700M, Barnett Shale $350M, San Juan/Raton/Uinta $200M, Permian $240M, Arkoma/Mid-Continent $140M, exploration and leasing $70M. This is about double the $850M 2005 budget.

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18 Jan 2005drilling progress report● Neutral

On January 17, 2005 XTO's board approved an $850M development and exploration budget for 2005, covering 735 wells (560 net) and about 540 workovers and recompletions (400 net). Of the total, $400M goes to the Eastern Region, $170M to the Barnett Shale, $85M to the San Juan, Raton and Uinta basins, $85M to the Permian, $80M to Arkoma and Mid-Continent, and $30M to exploration.

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