XTO Energy
XTO Energy, Inc. principally engages in the acquisition, development, exploitation, and exploration of producing oil and gas properties in the southwestern and central United States. It also engages in the production, processing, marketing, and transportation of oil and natural gas. The company’s production and exploration activities are concentrated in Texas, Oklahoma, Arkansas, Kansas, New Mexico, Colorado, Wyoming, Alaska, and Louisiana. As of December 31, 2003, XTO Energy had estimated proven reserves of 3.6 trillion cubic feet of natural gas, 34.7 million barrels of natural gas liquids, and 55.4 million barrels of oil. It also owned interests in 11,364 gross (5,633.6 net) wells. The company was co-founded by Bob R. Simpson and Steffen E. Palko in 1986. It was formerly known as Cross Timbers Oil Company and changed its name to XTO Energy, Inc. in June 2001. XTO Energy is headquartered in Fort Worth, Texas.
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