BNET Industries
Last Fiscal Year Sales:$749.9M
- Private
- US
Dow Jones Description
Low-risk, high-return strategy - XTO Energy Inc. has grown from its inception in 1986 to one of the nation's largest independent oil and gas producers. Our proven strategy has built a domestic reserve base with greater than 1 billion barrels of oil equivalent and a track record of increasing production and reserves, up about 25% and 31% respectively since going public in 1993. With this performance, XTO has been a consistent sector leader in growth and value creation. For our shareholders, the stock price has followed, increasing more than 3700% since 1993. How have we done it? Our experience and expertise guides us to acquire the best reservoir rock. We then apply new technology, operational innovations and old-fashioned hard work to discover untapped reserves. The result is a predictable, low-risk growth strategy with a history of healthy economic returns. Perhaps even more important, with XTO's base of legacy assets and drilling inventory, the potential for expanding growth and...
Number of Employees 500
Peer Companies
NAICS Code Crude Petroleum and Natural Gas Extraction: 211111
News & Analysis
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cross timbers oil co. - All News and Analysis
Fort Worth, Texas-Based Cross Timbers Oil Changes Name to XTO Energy.
- 2001-05-16
By Dan Piller, Fort Worth Star-Telegram, Texas Knight Ridder/Tribune Business News May 16--FORT WORTH, Texas--Cross Timbers Oil Co. bowed to the reality of its own operations Tuesday and changed the company's name. Chairman Bob R. Simpson told shareholders at the...
Cross Timbers Oil reports record reserves
- 2001-03-12
Cross Timbers Oil's proved oil and gas reserves rose 11 percent to a record 2.25 trillion cubic feet of gas equivalent at Dec. 31 from a year earlier. The year-end reserves do not include acquisitions, primarily in east Texas, completed during 2001. In addition to the...
Texas-Based Cross Timbers Oil Reaps Benefits of Expanded Natural-Gas Activity.(Knight Ridder/Tribune Business News)
- 2000-11-24
Nov. 24--FORT WORTH, Texas--About four years ago, Cross Timbers Oil Co. was at a crossroads. The Fort Worth energy company had earned as much from crude oil in the first half of the 1990s as from natural gas. But chief executive officer Bob R....
Fort Worth, Texas-Based Cross Timbers Oil Posts Higher Quarterly Earnings.(Knight Ridder/Tribune Business News)
- 2000-10-27
Oct. 27--FORT WORTH, Texas--Cross Timbers Oil said Wednesday it earned $31.3 million, or 43 cents per share, for the quarter ended Sept. 30. A year ago in the same quarter, Cross Timbers earned $13.1 million, or 18 cents per share. The...
Fort Worth, Texas-Based Cross Timbers Oil to Sell Stake in New Trust.
- 1999-08-25
Knight Ridder/Tribune Business News Aug. 25 -- Cross Timbers Oil Co., a Fort Worth-based oil and natural gas exploration company, said Tuesday that it plans to sell 40 percent of its newly created Texas Permian Royalty Trust to the public. It hopes to raise...
Cross Timbers Oil Forms Third Royalty Trust, Will Sell Units to Public.
- 1999-08-25
Knight Ridder/Tribune Business News Aug. 25 -- FORT WORTH, Texas -- Cross Timbers Oil Co. said yesterday that it has formed its third royalty trust, made up primarily of oil reserves in the Permian Basin of West Texas, from which units will be sold...
Texas-Based Cross Timbers Oil to Sell Stock, Buy Back Shares from Shell.
- 1999-07-12
Knight Ridder/Tribune Business News Jul. 9 -- Cross Timbers Oil Co. said Thursday it is selling 2 million shares of common stock to buy back shares that Shell Oil Co. obtained last fall when it sold its Cook Inlet properties to Cross Timbers. ...
American Millennium Corporation, Inc. Monitoring Gas Compressors for Cross Timbers Oil Co
- 1999-05-25
MOUNT DORA, Fla.--BUSINESS WIRE--May 25, 1999-- American Millennium Corporation, Inc. AMCI (Nasdaq OTC:AMCI ) announced today that it has completed installation of its satellite communication equipment for remote monitoring of three large natural gas compressors for Fort Worth, TX based Cross Timbers Oil Co. (NYSE:XTO). According to...
Chairman of Cross Timbers Oil Expects Buying Opportunities from Mergers.
- 1999-05-19
Knight Ridder/Tribune Business News May 19 -- FORT WORTH, Texas -- Cross Timbers Oil Co. Chairman Bob R. Simpson told shareholders yesterday that the consolidation of the energy industry will generate opportunities for companies like his to buy producing properties. "This...
Cross Timbers Oil Co. to Sell Part of Reserves to Royalty Trust.
- 1998-10-14
Knight Ridder/Tribune Business News Oct. 14--FORT WORTH, Texas--Cross Timbers Oil Co. said yesterday that it will sell about 30 percent of its reserves to a royalty trust, which company Chairman Bob R. Simpson said will generate about $700 million in new equity. ...
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